AQR Capital Management LLC Grows Stock Position in Ameriprise Financial, Inc. $AMP

AQR Capital Management LLC raised its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 15.6% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 497,873 shares of the financial services provider’s stock after purchasing an additional 67,106 shares during the quarter. AQR Capital Management LLC’s holdings in Ameriprise Financial were worth $265,336,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. Whipplewood Advisors LLC increased its stake in Ameriprise Financial by 71.0% during the second 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 last quarter. TD Capital Management LLC lifted its position in Ameriprise Financial by 566.7% during the 1st quarter. TD Capital Management LLC now owns 60 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 51 shares in the last quarter. Wealth Preservation Advisors LLC purchased a new position in Ameriprise Financial in the 1st quarter worth approximately $29,000. Salomon & Ludwin LLC grew its position in Ameriprise Financial by 115.4% in the second quarter. Salomon & Ludwin LLC now owns 56 shares of the financial services provider’s stock valued at $30,000 after acquiring an additional 30 shares in the last quarter. Finally, Winnow Wealth LLC purchased a new stake in shares of Ameriprise Financial during the second quarter valued at approximately $32,000. Institutional investors and hedge funds own 83.95% of the company’s stock.

Insiders Place Their Bets

In other news, Director Robert Francis Sharpe, Jr. sold 1,500 shares of the company’s stock in a transaction dated Friday, November 21st. The stock was sold at an average price of $450.94, for a total value of $676,410.00. Following the transaction, the director owned 7,500 shares in the company, valued at $3,382,050. This represents a 16.67% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.73% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages have commented on AMP. Evercore ISI cut their price objective 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. Argus lowered their price objective on shares of Ameriprise Financial from $568.00 to $554.00 and set a “buy” rating for the company in a research report on Thursday, November 13th. Royal Bank Of Canada reduced their price target 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. Morgan Stanley cut their target price 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. Finally, BMO Capital Markets initiated coverage on Ameriprise Financial in a research note on Friday, October 3rd. They issued a “market perform” rating and a $525.00 price target for the company. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $533.22.

Ameriprise Financial Stock Down 1.0%

NYSE AMP opened at $493.79 on Friday. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.68 and a quick ratio of 0.68. The company has a market capitalization of $45.88 billion, a P/E ratio of 13.54, a PEG ratio of 1.34 and a beta of 1.26. The company’s 50 day simple moving average is $468.57 and its 200 day simple moving average is $497.34. Ameriprise Financial, Inc. has a 12 month low of $396.14 and a 12 month high of $582.05.

Ameriprise Financial (NYSE:AMP) last announced its earnings results on Thursday, October 30th. The financial services provider reported $9.92 EPS for the quarter, beating the consensus estimate of $9.76 by $0.16. Ameriprise Financial had a return on equity of 64.97% and a net margin of 20.12%.The business had revenue of $4.73 billion during the quarter, compared to the consensus estimate of $4.51 billion. During the same period in the prior year, the business posted $9.02 earnings per share. Ameriprise Financial’s revenue was up 9.0% compared to the same quarter last year. Equities research analysts expect that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current fiscal year.

Ameriprise Financial Announces Dividend

The firm also recently disclosed 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 1.3%. Ameriprise Financial’s dividend payout ratio (DPR) is presently 17.55%.

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.