5,402 Shares in Ameriprise Financial, Inc. $AMP Bought by ABC Arbitrage SA

ABC Arbitrage SA acquired a new position in Ameriprise Financial, Inc. (NYSE:AMP) in the 3rd quarter, Holdings Channel.com reports. The firm acquired 5,402 shares of the financial services provider’s stock, valued at approximately $2,654,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Whipplewood Advisors LLC raised its holdings in shares of Ameriprise Financial by 71.0% in 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. Salomon & Ludwin LLC increased its position in Ameriprise Financial by 115.4% during the 2nd quarter. Salomon & Ludwin LLC now owns 56 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 30 shares in the last quarter. Winnow Wealth LLC acquired a new position in Ameriprise Financial in the 2nd quarter valued at about $32,000. Heartwood Wealth Advisors LLC purchased a new position in Ameriprise Financial in the 3rd quarter valued at about $32,000. Finally, WFA of San Diego LLC acquired a new stake in shares of Ameriprise Financial during the 2nd quarter worth about $36,000. Institutional investors and hedge funds own 83.95% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on AMP. Morgan Stanley upped their price objective on shares of Ameriprise Financial from $484.00 to $485.00 and gave the company an “underweight” rating in a research note on Monday, December 22nd. Royal Bank Of Canada reissued an “outperform” rating and set a $605.00 price target (up previously from $580.00) on shares of Ameriprise Financial in a research note on Monday, February 2nd. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Ameriprise Financial in a research report on Monday, December 29th. Piper Sandler upgraded Ameriprise Financial from an “underweight” rating to a “neutral” rating and upped their target price for the company from $434.00 to $530.00 in a research note on Friday, January 30th. Finally, Argus decreased their price target on Ameriprise Financial from $568.00 to $554.00 and set a “buy” rating on the stock in a research note on Thursday, November 13th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Ameriprise Financial currently has a consensus rating of “Hold” and a consensus target price of $555.67.

Ameriprise Financial Stock Down 6.4%

Shares of NYSE:AMP opened at $504.69 on Wednesday. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.68 and a current ratio of 0.68. Ameriprise Financial, Inc. has a 1 year low of $396.14 and a 1 year high of $552.43. The stock has a market capitalization of $46.89 billion, a P/E ratio of 13.88, a PEG ratio of 1.26 and a beta of 1.26. The stock has a 50-day simple moving average of $502.26 and a 200-day simple moving average of $491.72.

Ameriprise Financial (NYSE:AMP) last posted its quarterly earnings results on Thursday, January 29th. The financial services provider reported $10.83 EPS for the quarter, beating the consensus estimate of $10.33 by $0.50. The firm had revenue of $4.90 billion for the quarter, compared to analyst estimates of $4.75 billion. Ameriprise Financial had a net margin of 19.28% and a return on equity of 63.04%. Ameriprise Financial’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same quarter last year, the firm posted $9.54 earnings per share. Equities analysts forecast that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current year.

Ameriprise Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 27th. Stockholders of record on Monday, February 9th will be paid a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date of this dividend is Monday, February 9th. Ameriprise Financial’s dividend payout ratio (DPR) is currently 17.60%.

Insider Buying and Selling at Ameriprise Financial

In related news, Director Robert Francis Sharpe, Jr. sold 1,500 shares of the company’s stock in a transaction on Friday, November 21st. The shares were sold at an average price of $450.94, for a total transaction of $676,410.00. Following the completion of the sale, the director directly owned 7,500 shares of the company’s stock, valued at approximately $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 accessible through the SEC website. Also, CFO Walter Stanley Berman sold 7,000 shares of the stock in a transaction 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 completion of the sale, the chief financial officer 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. The disclosure for this sale is available in the SEC filing. Insiders own 0.57% of the company’s stock.

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.