R Squared Ltd Takes Position in Ameriprise Financial, Inc. $AMP

R Squared Ltd acquired a new position in Ameriprise Financial, Inc. (NYSE:AMP) in the third quarter, HoldingsChannel.com reports. The institutional investor acquired 2,347 shares of the financial services provider’s stock, valued at approximately $1,153,000.

Several other institutional investors have also recently made changes to their positions in AMP. Pinnacle Wealth Management Advisory Group LLC lifted its holdings in Ameriprise Financial by 2.9% in the 2nd quarter. Pinnacle Wealth Management Advisory Group LLC now owns 733 shares of the financial services provider’s stock worth $391,000 after purchasing an additional 21 shares in the last quarter. CreativeOne Wealth LLC raised its position in shares of Ameriprise Financial by 2.3% during the second quarter. CreativeOne Wealth LLC now owns 932 shares of the financial services provider’s stock valued at $497,000 after buying an additional 21 shares during the last quarter. Rexford Capital Inc. lifted its holdings in shares of Ameriprise Financial by 20.6% in the third quarter. Rexford Capital Inc. now owns 123 shares of the financial services provider’s stock worth $60,000 after buying an additional 21 shares in the last quarter. Dakota Community Bank & Trust NA lifted its holdings in shares of Ameriprise Financial by 2.4% in the third quarter. Dakota Community Bank & Trust NA now owns 942 shares of the financial services provider’s stock worth $463,000 after buying an additional 22 shares in the last quarter. Finally, RWA Wealth Partners LLC boosted its position in shares of Ameriprise Financial by 0.5% during the second quarter. RWA Wealth Partners LLC now owns 4,367 shares of the financial services provider’s stock worth $2,331,000 after acquiring an additional 23 shares during the last quarter. Hedge funds and other institutional investors own 83.95% of the company’s stock.

Insider Buying and Selling

In other news, CEO William F. Truscott sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, February 10th. The shares were sold at an average price of $532.08, for a total value of $2,660,400.00. Following the completion of the sale, the chief executive officer owned 12,149 shares in the company, valued at approximately $6,464,239.92. This trade represents a 29.16% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Walter Stanley Berman sold 7,000 shares of Ameriprise Financial stock in a transaction dated Thursday, February 5th. The stock was sold at an average price of $544.22, for a total transaction of $3,809,540.00. Following the transaction, the chief financial officer directly owned 5,609 shares of the company’s stock, valued at approximately $3,052,529.98. This represents a 55.52% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 16,658 shares of company stock worth $8,998,675 over the last three months. 0.73% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the stock. Piper Sandler upgraded shares of Ameriprise Financial from an “underweight” rating to a “neutral” rating and lifted their price target for the company from $434.00 to $530.00 in a report on Friday, January 30th. Morgan Stanley raised their price objective on Ameriprise Financial from $484.00 to $485.00 and gave the company an “underweight” rating in a research report on Monday, December 22nd. Argus decreased 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. Raymond James Financial set a $582.00 price target on Ameriprise Financial and gave the company a “strong-buy” rating in a report on Wednesday, February 11th. Finally, Jefferies Financial Group lifted their price objective on Ameriprise Financial from $600.00 to $620.00 and gave the stock a “buy” rating in a research note on Monday, February 2nd. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $555.67.

Ameriprise Financial Stock Up 1.8%

Shares of NYSE:AMP opened at $486.88 on Friday. The company has a market cap of $44.39 billion, a price-to-earnings ratio of 13.39, a PEG ratio of 1.11 and a beta of 1.26. Ameriprise Financial, Inc. has a 12 month low of $396.14 and a 12 month high of $550.18. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 0.86. The company has a 50-day moving average price of $499.40 and a 200 day moving average price of $488.88.

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

Ameriprise Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, February 27th. Investors of record on Monday, February 9th will be issued a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a yield of 1.3%. The ex-dividend date is Monday, February 9th. Ameriprise Financial’s dividend payout ratio is presently 17.60%.

Ameriprise Financial Company Profile

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.