Quantitative Investment Management LLC Purchases Shares of 1,488 Ameriprise Financial, Inc. $AMP

Quantitative Investment Management LLC purchased a new position in shares of Ameriprise Financial, Inc. (NYSE:AMP) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 1,488 shares of the financial services provider’s stock, valued at approximately $682,000.

Several other hedge funds also recently added to or reduced their stakes in AMP. Norges Bank acquired a new stake in shares of Ameriprise Financial during the fourth quarter valued at about $742,438,000. Bank of America Corp DE acquired a new position in shares of Ameriprise Financial in the second quarter worth about $320,948,000. Legal & General Group Plc purchased a new position in Ameriprise Financial in the second quarter valued at about $262,687,000. Hsbc Holdings PLC acquired a new stake in Ameriprise Financial during the 2nd quarter valued at approximately $248,547,000. Finally, Man Group plc acquired a new stake in Ameriprise Financial during the 2nd quarter valued at approximately $228,311,000. 83.95% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Ameriprise Financial

In related news, SVP Dawn M. Brockman sold 472 shares of the company’s stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $558.93, for a total value of $263,814.96. Following the completion of the sale, the senior vice president owned 713 shares of the company’s stock, valued at $398,517.09. This represents a 39.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Walter Stanley Berman sold 11,012 shares of the stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $548.95, for a total transaction of $6,045,037.40. Following the completion of the transaction, the chief financial officer owned 5,609 shares of the company’s stock, valued at $3,079,060.55. This represents a 66.25% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 29,988 shares of company stock valued at $16,316,497 in the last ninety days. Company insiders own 0.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on AMP shares. Jefferies Financial Group lifted their price target on shares of Ameriprise Financial from $636.00 to $645.00 and gave the stock a “buy” rating in a research note on Friday, July 10th. Zacks Research raised shares of Ameriprise Financial from a “hold” rating to a “strong-buy” rating in a report on Monday, July 27th. Piper Sandler boosted their target price on shares of Ameriprise Financial from $471.00 to $518.00 and gave the stock a “neutral” rating in a research report on Monday, July 13th. Morgan Stanley upped their target price on shares of Ameriprise Financial from $467.00 to $489.00 and gave the company an “underweight” rating in a research note on Friday, July 10th. Finally, Keefe, Bruyette & Woods increased their price target on shares of Ameriprise Financial from $515.00 to $545.00 and gave the stock a “market perform” rating in a research report on Friday, July 24th. Two research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $555.33.

Ameriprise Financial Stock Performance

Shares of AMP opened at $542.09 on Wednesday. Ameriprise Financial, Inc. has a 1 year low of $422.37 and a 1 year high of $572.56. The company has a market cap of $48.73 billion, a price-to-earnings ratio of 13.08, a price-to-earnings-growth ratio of 0.99 and a beta of 1.14. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.71 and a current ratio of 0.71. The firm has a fifty day moving average of $530.03 and a 200-day moving average of $483.14.

Ameriprise Financial (NYSE:AMP) last posted its earnings results on Thursday, July 23rd. The financial services provider reported $11.07 EPS for the quarter, beating the consensus estimate of $10.81 by $0.26. Ameriprise Financial had a return on equity of 64.19% and a net margin of 20.24%.The firm had revenue of $4.90 billion for the quarter, compared to analysts’ expectations of $4.87 billion. During the same period last year, the firm earned $9.11 EPS. The firm’s revenue was up 11.6% compared to the same quarter last year. As a group, equities analysts anticipate that Ameriprise Financial, Inc. will post 46.27 earnings per share for the current year.

Ameriprise Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 21st. Investors of record on Monday, August 3rd were paid a dividend of $1.70 per share. This represents a $6.80 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date was Monday, August 3rd. Ameriprise Financial’s payout ratio is currently 16.40%.

About Ameriprise Financial

Ameriprise Financial, Inc is a diversified financial services company headquartered in Minneapolis, Minnesota. The firm provides a range of advice-based wealth management, asset management and insurance products to individual and institutional clients. Its business model centers on delivering financial planning and investment advice through a network of financial advisors alongside proprietary product offerings designed to meet retirement, protection and accumulation needs.

Core products and services include comprehensive financial planning and advisory services, managed investment portfolios, retirement planning solutions, annuities and life insurance products.