Entropy Technologies LP Takes $7.43 Million Position in Ameriprise Financial, Inc. $AMP

Entropy Technologies LP bought a new position in shares of Ameriprise Financial, Inc. (NYSE:AMP) in the third quarter, according to the company in its most recent filing with the SEC. The fund bought 15,127 shares of the financial services provider’s stock, valued at approximately $7,431,000.

Several other hedge funds have also recently bought and sold shares of AMP. Winnow Wealth LLC acquired a new position in Ameriprise Financial during the second quarter valued at approximately $32,000. Heartwood Wealth Advisors LLC acquired a new stake in shares of Ameriprise Financial in the third quarter worth $32,000. Redmont Wealth Advisors LLC acquired a new stake in shares of Ameriprise Financial in the third quarter worth $32,000. WFA of San Diego LLC purchased a new position in shares of Ameriprise Financial in the 2nd quarter valued at $36,000. Finally, Salomon & Ludwin LLC raised its stake in shares of Ameriprise Financial by 76.8% in the 3rd quarter. Salomon & Ludwin LLC now owns 99 shares of the financial services provider’s stock valued at $49,000 after acquiring an additional 43 shares during the period. Hedge funds and other institutional investors own 83.95% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on AMP. Raymond James Financial set a $582.00 price target on shares of Ameriprise Financial and gave the stock a “strong-buy” rating in a research report on Wednesday, February 11th. Jefferies Financial Group raised their price objective on Ameriprise Financial from $600.00 to $620.00 and gave the company a “buy” rating in a research report on Monday, February 2nd. Morgan Stanley boosted their price objective on Ameriprise Financial from $484.00 to $485.00 and gave the stock an “underweight” rating in a research note on Monday, December 22nd. BMO Capital Markets reiterated a “market perform” rating on shares of Ameriprise Financial in a research note on Tuesday, March 3rd. Finally, Argus dropped their target price on Ameriprise Financial from $568.00 to $554.00 and set a “buy” rating on the stock in a report on Thursday, November 13th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Ameriprise Financial has an average rating of “Hold” and an average price target of $555.67.

Ameriprise Financial Stock Performance

Ameriprise Financial stock opened at $439.51 on Friday. Ameriprise Financial, Inc. has a 12-month low of $396.14 and a 12-month high of $550.18. The company has a market capitalization of $40.07 billion, a price-to-earnings ratio of 12.09, a price-to-earnings-growth ratio of 1.05 and a beta of 1.27. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.68 and a quick ratio of 0.68. The firm’s fifty day moving average price is $492.60 and its 200 day moving average price is $485.65.

Ameriprise Financial (NYSE:AMP) last posted its quarterly earnings data on Thursday, January 29th. The financial services provider reported $10.83 earnings per share for the quarter, beating analysts’ consensus estimates of $10.33 by $0.50. The company had revenue of $4.92 billion during the quarter, compared to analysts’ expectations of $4.75 billion. Ameriprise Financial had a net margin of 19.28% and a return on equity of 63.04%. The firm’s revenue for the quarter was up 10.2% on a year-over-year basis. During the same period in the prior year, the company posted $9.54 EPS. On average, research analysts forecast that Ameriprise Financial, Inc. will post 38.64 EPS for the current fiscal year.

Ameriprise Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, February 27th. Investors of record on Monday, February 9th were issued a $1.60 dividend. The ex-dividend date of this dividend was Monday, February 9th. This represents a $6.40 dividend on an annualized basis and a yield of 1.5%. Ameriprise Financial’s dividend payout ratio is currently 17.60%.

Insider Activity at Ameriprise Financial

In other Ameriprise Financial news, CEO William F. Truscott sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 10th. The stock was sold at an average price of $532.08, for a total value of $2,660,400.00. Following the transaction, the chief executive officer directly owned 12,149 shares of the company’s stock, valued at $6,464,239.92. This represents a 29.16% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Walter Stanley Berman sold 7,000 shares of the stock in a transaction that occurred on Thursday, February 5th. The shares were sold at an average price of $544.22, for a total value of $3,809,540.00. Following the transaction, the chief financial officer owned 5,609 shares of the company’s stock, valued at approximately $3,052,529.98. This trade represents a 55.52% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 16,658 shares of company stock valued at $8,998,675. Insiders own 0.73% of the company’s stock.

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.