Quantbot Technologies LP Boosts Stake in Ameriprise Financial, Inc. $AMP

Quantbot Technologies LP lifted its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 1,894.7% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 15,439 shares of the financial services provider’s stock after buying an additional 14,665 shares during the period. Quantbot Technologies LP’s holdings in Ameriprise Financial were worth $8,240,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in AMP. Whipplewood Advisors LLC lifted its position in Ameriprise Financial by 71.0% during the 2nd quarter. Whipplewood Advisors LLC now owns 53 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 22 shares during the period. TD Capital Management LLC raised 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 worth $29,000 after purchasing an additional 51 shares during the last quarter. Wealth Preservation Advisors LLC purchased a new position in shares of Ameriprise Financial in the first quarter worth about $29,000. Salomon & Ludwin LLC lifted its holdings in shares of Ameriprise Financial by 115.4% during the second quarter. Salomon & Ludwin LLC now owns 56 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 30 shares during the period. Finally, Winnow Wealth LLC purchased a new stake in Ameriprise Financial in the second quarter valued at approximately $32,000. 83.95% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

AMP has been the subject of a number of recent research reports. Evercore ISI reduced their price target on shares of Ameriprise Financial from $587.00 to $570.00 and set an “in-line” rating for the company in a research report on Thursday, October 9th. Royal Bank Of Canada reduced their target price on shares of Ameriprise Financial from $601.00 to $550.00 and set an “outperform” rating for the company in a report on Monday, November 3rd. Argus lowered their price target on shares of Ameriprise Financial from $568.00 to $554.00 and set a “buy” rating on the stock in a report on Thursday, November 13th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Ameriprise Financial in a research report on Friday. Finally, Morgan Stanley reduced their price objective on 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 equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $533.22.

Ameriprise Financial Stock Up 0.5%

AMP stock opened at $457.17 on Wednesday. Ameriprise Financial, Inc. has a one year low of $396.14 and a one year high of $582.05. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.68 and a current ratio of 0.68. The firm’s fifty day moving average is $470.14 and its 200 day moving average is $498.75. The firm has a market cap of $42.48 billion, a PE ratio of 12.54, a P/E/G ratio of 1.14 and a beta of 1.26.

Ameriprise Financial (NYSE:AMP) last issued its quarterly earnings data on Thursday, October 30th. The financial services provider reported $9.92 earnings per share for the quarter, topping analysts’ consensus estimates of $9.76 by $0.16. Ameriprise Financial had a net margin of 20.12% and a return on equity of 64.97%. The business had revenue of $4.73 billion during the quarter, compared to the consensus estimate of $4.51 billion. During the same quarter in the prior year, the firm posted $9.02 earnings per share. The company’s revenue was up 9.0% compared to the same quarter last year. On average, research analysts forecast that Ameriprise Financial, Inc. will post 38.64 EPS for the current 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 given a dividend of $1.60 per share. The ex-dividend date was Monday, November 10th. This represents a $6.40 dividend on an annualized basis and a yield of 1.4%. Ameriprise Financial’s dividend payout ratio is currently 17.55%.

Insider Activity at Ameriprise Financial

In other news, EVP Heather J. Melloh sold 1,500 shares of the company’s stock in a transaction that occurred on Thursday, September 4th. The stock was 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 of the company’s stock, valued at $1,312,615.08. This represents a 36.93% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Robert Francis Sharpe, Jr. sold 1,500 shares of Ameriprise Financial stock in a transaction on Friday, November 21st. The shares were sold at an average price of $450.94, for a total transaction of $676,410.00. Following the completion of the sale, the director directly owned 7,500 shares in the company, valued at $3,382,050. This represents a 16.67% decrease in their position. The SEC filing for this sale provides additional information. 0.57% of the stock is currently owned by company insiders.

About Ameriprise Financial

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.