Quadrant Capital Group LLC Buys 3,640 Shares of Ameriprise Financial, Inc. $AMP

Quadrant Capital Group LLC grew its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 69.7% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 8,863 shares of the financial services provider’s stock after buying an additional 3,640 shares during the quarter. Quadrant Capital Group LLC’s holdings in Ameriprise Financial were worth $4,730,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Whipplewood Advisors LLC raised its position in Ameriprise Financial by 71.0% in the second quarter. Whipplewood Advisors LLC now owns 53 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 22 shares during the last quarter. TD Capital Management LLC increased its stake in shares of Ameriprise Financial by 566.7% in the first quarter. TD Capital Management LLC now owns 60 shares of the financial services provider’s stock valued at $29,000 after buying an additional 51 shares during the period. Wealth Preservation Advisors LLC bought a new position in Ameriprise Financial in the 1st quarter valued at approximately $29,000. Salomon & Ludwin LLC boosted its position in Ameriprise Financial by 115.4% during the 2nd quarter. Salomon & Ludwin LLC now owns 56 shares of the financial services provider’s stock worth $30,000 after buying an additional 30 shares during the period. Finally, Winnow Wealth LLC bought a new stake in Ameriprise Financial during the 2nd quarter worth approximately $32,000. Institutional investors and hedge funds own 83.95% of the company’s stock.

Analyst Upgrades and Downgrades

AMP has been the topic of a number of recent research reports. BMO Capital Markets began coverage on shares of Ameriprise Financial in a report on Friday, October 3rd. They set a “market perform” rating and a $525.00 price target on the stock. Weiss Ratings restated a “buy (b)” rating on shares of Ameriprise Financial in a research report on Wednesday, October 8th. Argus decreased their target price on shares of Ameriprise Financial from $568.00 to $554.00 and set a “buy” rating for the company in a research report on Thursday, November 13th. Royal Bank Of Canada reduced their price objective on shares of Ameriprise Financial from $601.00 to $550.00 and set an “outperform” rating on the stock in a research note on Monday, November 3rd. Finally, Morgan Stanley lowered their target price on shares of Ameriprise Financial from $530.00 to $484.00 and set an “underweight” rating for the company in a research note on Wednesday, October 1st. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Ameriprise Financial has an average rating of “Hold” and a consensus target price of $533.22.

Ameriprise Financial Trading Up 0.2%

AMP opened at $453.56 on Thursday. The company has a fifty day moving average price of $473.07 and a two-hundred day moving average price of $500.71. Ameriprise Financial, Inc. has a 1-year low of $396.14 and a 1-year high of $582.05. The company has a market cap of $42.14 billion, a P/E ratio of 14.11, a price-to-earnings-growth ratio of 1.07 and a beta of 1.28. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 0.95.

Ameriprise Financial (NYSE:AMP) last issued its earnings results on Thursday, October 30th. The financial services provider reported $9.92 EPS for the quarter, beating the consensus estimate of $9.76 by $0.16. The company had revenue of $4.73 billion during the quarter, compared to the consensus estimate of $4.51 billion. Ameriprise Financial had a return on equity of 65.90% and a net margin of 18.30%.The firm’s revenue for the quarter was up 9.0% compared to the same quarter last year. During the same period last year, the business posted $9.02 EPS. Analysts predict that Ameriprise Financial, Inc. will post 38.64 EPS for the current fiscal year.

Ameriprise Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, November 24th. Shareholders of record on Monday, November 10th were paid a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date was Monday, November 10th. Ameriprise Financial’s payout ratio is 17.55%.

Insider Buying and Selling at Ameriprise Financial

In other news, EVP Heather J. Melloh sold 1,500 shares of Ameriprise Financial stock in a transaction dated Thursday, September 4th. The shares were sold at an average price of $512.34, for a total transaction of $768,510.00. Following the completion of the transaction, the executive vice president directly owned 2,562 shares in the company, valued at $1,312,615.08. This trade represents a 36.93% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Robert Francis Sharpe, Jr. sold 1,500 shares of the business’s stock in a transaction dated Friday, November 21st. The stock was sold at an average price of $450.94, for a total transaction of $676,410.00. Following the sale, the director directly owned 7,500 shares of the company’s stock, valued at approximately $3,382,050. The trade was a 16.67% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.73% of the company’s stock.

Ameriprise Financial Profile

Ameriprise Financial, Inc, together with its subsidiaries, provides various financial products and services to individual and institutional clients in the United States and internationally. It operates through four segments: Advice & Wealth Management, Asset Management, Retirement & Protection Solutions, and Corporate & Other.