Qube Research & Technologies Ltd Buys 9,579 Shares of Ameriprise Financial, Inc. $AMP

Qube Research & Technologies Ltd boosted its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 5.1% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 196,208 shares of the financial services provider’s stock after buying an additional 9,579 shares during the quarter. Qube Research & Technologies Ltd owned approximately 0.21% of Ameriprise Financial worth $104,722,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in AMP. Norges Bank acquired a new position in shares of Ameriprise Financial in the second quarter worth approximately $693,736,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of Ameriprise Financial by 55.0% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,244,788 shares of the financial services provider’s stock worth $1,086,724,000 after purchasing an additional 796,925 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of Ameriprise Financial by 7.7% in the 2nd quarter. JPMorgan Chase & Co. now owns 6,270,995 shares of the financial services provider’s stock valued at $3,347,019,000 after purchasing an additional 446,080 shares during the last quarter. AQR Capital Management LLC increased its position in shares of Ameriprise Financial by 78.6% during the first quarter. AQR Capital Management LLC now owns 430,767 shares of the financial services provider’s stock worth $202,869,000 after buying an additional 189,525 shares during the period. Finally, Federated Hermes Inc. raised its stake in Ameriprise Financial by 22.4% during the second quarter. Federated Hermes Inc. now owns 747,083 shares of the financial services provider’s stock worth $398,741,000 after buying an additional 136,761 shares during the last quarter. Institutional investors and hedge funds own 83.95% of the company’s stock.

Ameriprise Financial Stock Performance

Shares of AMP opened at $497.14 on Thursday. Ameriprise Financial, Inc. has a one year low of $396.14 and a one year high of $582.05. The company has a market cap of $46.19 billion, a PE ratio of 13.63, a P/E/G ratio of 1.20 and a beta of 1.26. The stock has a 50-day moving average of $468.40 and a 200-day moving average of $497.42. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.68 and a quick ratio of 0.68.

Ameriprise Financial (NYSE:AMP) last posted its quarterly earnings results 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. The business had revenue of $4.73 billion for the quarter, compared to the consensus estimate of $4.51 billion. Ameriprise Financial had a return on equity of 64.97% and a net margin of 20.12%.The firm’s revenue for the quarter was up 9.0% on a year-over-year basis. During the same period in the prior year, the business earned $9.02 EPS. On average, equities research analysts predict that Ameriprise Financial, Inc. will post 38.64 EPS for the current fiscal year.

Ameriprise Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, November 24th. Investors of record on Monday, November 10th were issued a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date was Monday, November 10th. Ameriprise Financial’s dividend payout ratio (DPR) is currently 17.55%.

Insider Activity

In related news, 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 value of $676,410.00. Following the completion of the sale, the director owned 7,500 shares of the company’s stock, valued at approximately $3,382,050. This trade represents a 16.67% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.73% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on AMP. Evercore ISI dropped their target price on shares of Ameriprise Financial from $587.00 to $570.00 and set an “in-line” rating on the stock in a report on Thursday, October 9th. Morgan Stanley dropped their price objective on Ameriprise Financial from $530.00 to $484.00 and set an “underweight” rating on the stock in a research note on Wednesday, October 1st. Argus cut their target price on Ameriprise Financial from $568.00 to $554.00 and set a “buy” rating on the stock in a research report on Thursday, November 13th. Royal Bank Of Canada lowered their target price on Ameriprise Financial from $601.00 to $550.00 and set an “outperform” rating for the company in a report on Monday, November 3rd. Finally, BMO Capital Markets began coverage on Ameriprise Financial in a research note on Friday, October 3rd. They issued a “market perform” rating and a $525.00 price target on the stock. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $533.22.

Ameriprise Financial Company 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.