Machina Capital S.A.S. Buys New Stake in Ameriprise Financial, Inc. $AMP

Machina Capital S.A.S. purchased a new stake in Ameriprise Financial, Inc. (NYSE:AMP) during the third quarter, HoldingsChannel.com reports. The fund purchased 4,351 shares of the financial services provider’s stock, valued at approximately $2,137,000.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Brighton Jones LLC raised its position in shares of Ameriprise Financial by 6.9% during the 4th quarter. Brighton Jones LLC now owns 777 shares of the financial services provider’s stock worth $413,000 after acquiring an additional 50 shares in the last quarter. Empowered Funds LLC raised its holdings in Ameriprise Financial by 11.8% during the first quarter. Empowered Funds LLC now owns 6,022 shares of the financial services provider’s stock worth $2,915,000 after purchasing an additional 634 shares in the last quarter. Sivia Capital Partners LLC lifted its position in shares of Ameriprise Financial by 14.1% during the 2nd quarter. Sivia Capital Partners LLC now owns 584 shares of the financial services provider’s stock worth $312,000 after buying an additional 72 shares during the last quarter. Ascent Group LLC boosted its holdings in shares of Ameriprise Financial by 5.0% in the 2nd quarter. Ascent Group LLC now owns 804 shares of the financial services provider’s stock valued at $429,000 after buying an additional 38 shares in the last quarter. Finally, Simplicity Wealth LLC grew its position in shares of Ameriprise Financial by 109.3% in the 2nd quarter. Simplicity Wealth LLC now owns 2,043 shares of the financial services provider’s stock valued at $1,090,000 after buying an additional 1,067 shares during the last quarter. 83.95% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Robert Francis Sharpe, Jr. sold 1,500 shares of the firm’s 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 in the company, valued at approximately $3,382,050. This trade represents a 16.67% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.57% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on AMP. Argus reduced their price target 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. Weiss Ratings reissued a “buy (b-)” rating on shares of Ameriprise Financial in a report on Monday, December 29th. Jefferies Financial Group raised their price target on Ameriprise Financial from $600.00 to $620.00 and gave the stock a “buy” rating in a research note on Monday. Morgan Stanley lifted their price target on Ameriprise Financial from $484.00 to $485.00 and gave the stock an “underweight” rating in a research report on Monday, December 22nd. Finally, Royal Bank Of Canada reiterated an “outperform” rating and issued a $605.00 price objective (up previously from $580.00) on shares of Ameriprise Financial in a research note on Monday. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $555.67.

Ameriprise Financial Stock Performance

Shares of AMP stock opened at $529.85 on Wednesday. The stock’s 50-day moving average price is $494.43 and its 200 day moving average price is $491.58. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 0.86. The stock has a market capitalization of $49.23 billion, a PE ratio of 14.57, a price-to-earnings-growth ratio of 1.25 and a beta of 1.26. Ameriprise Financial, Inc. has a 52-week low of $396.14 and a 52-week high of $552.43.

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, topping analysts’ consensus estimates of $10.33 by $0.50. The company had revenue of $4.90 billion during the quarter, compared to analysts’ expectations of $4.75 billion. Ameriprise Financial had a return on equity of 63.04% and a net margin of 19.28%.The firm’s revenue for the quarter was up 10.2% on a year-over-year basis. During the same period last year, the firm earned $9.54 EPS. As a group, equities research analysts forecast that Ameriprise Financial, Inc. will post 38.64 EPS for the current year.

Ameriprise Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 27th. Shareholders of record on Monday, February 9th will be paid a $1.60 dividend. This represents a $6.40 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend is Monday, February 9th. Ameriprise Financial’s payout ratio is currently 17.60%.

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.