Quantbot Technologies LP Invests $918,000 in Ameriprise Financial, Inc. (NYSE:AMP)

Quantbot Technologies LP bought a new stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 1,725 shares of the financial services provider’s stock, valued at approximately $918,000.

Several other large investors have also recently made changes to their positions in AMP. Millstone Evans Group LLC purchased a new position in shares of Ameriprise Financial in the 4th quarter valued at about $47,000. TD Private Client Wealth LLC increased its position in shares of Ameriprise Financial by 3.7% in the fourth quarter. TD Private Client Wealth LLC now owns 8,774 shares of the financial services provider’s stock valued at $4,672,000 after buying an additional 315 shares in the last quarter. Lee Danner & Bass Inc. acquired a new position in shares of Ameriprise Financial during the 4th quarter worth approximately $144,000. Northwest & Ethical Investments L.P. lifted its position in shares of Ameriprise Financial by 85.9% during the 4th quarter. Northwest & Ethical Investments L.P. now owns 20,621 shares of the financial services provider’s stock valued at $10,979,000 after buying an additional 9,527 shares in the last quarter. Finally, Wilkins Investment Counsel Inc. grew its stake in Ameriprise Financial by 6.5% in the 4th quarter. Wilkins Investment Counsel Inc. now owns 586 shares of the financial services provider’s stock valued at $312,000 after acquiring an additional 36 shares during the period. 83.95% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Robert Francis Sharpe, Jr. sold 1,000 shares of Ameriprise Financial stock in a transaction that occurred on Wednesday, February 12th. The shares were sold at an average price of $523.12, for a total value of $523,120.00. Following the completion of the transaction, the director now owns 10,000 shares in the company, valued at approximately $5,231,200. The trade was a 9.09 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO William F. Truscott sold 6,000 shares of the stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $540.29, for a total transaction of $3,241,740.00. Following the sale, the chief executive officer now owns 14,023 shares in the company, valued at approximately $7,576,486.67. This trade represents a 29.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 11,636 shares of company stock valued at $6,263,989. Company insiders own 0.96% of the company’s stock.

Ameriprise Financial Trading Down 1.1 %

Shares of Ameriprise Financial stock opened at $505.15 on Thursday. The stock has a 50 day moving average of $526.91 and a 200 day moving average of $522.28. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.59 and a current ratio of 0.59. The firm has a market capitalization of $48.55 billion, a price-to-earnings ratio of 15.28, a PEG ratio of 1.15 and a beta of 1.33. Ameriprise Financial, Inc. has a fifty-two week low of $385.74 and a fifty-two week high of $582.05.

Ameriprise Financial (NYSE:AMP) last announced its quarterly earnings results on Wednesday, January 29th. The financial services provider reported $9.36 EPS for the quarter, beating the consensus estimate of $9.16 by $0.20. Ameriprise Financial had a return on equity of 69.35% and a net margin of 19.70%. As a group, 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 was paid on Friday, February 28th. Shareholders of record on Monday, February 10th were given a dividend of $1.48 per share. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.17%. The ex-dividend date was Monday, February 10th. Ameriprise Financial’s dividend payout ratio is presently 17.91%.

Analysts Set New Price Targets

Several research analysts recently commented on the company. Royal Bank of Canada reissued an “outperform” rating and issued a $625.00 price objective on shares of Ameriprise Financial in a research note on Monday, February 3rd. Keefe, Bruyette & Woods increased their target price on shares of Ameriprise Financial from $560.00 to $570.00 and gave the company a “market perform” rating in a research report on Monday, February 3rd. UBS Group lowered shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $580.00 to $570.00 in a research report on Monday, January 6th. Morgan Stanley increased their price objective on shares of Ameriprise Financial from $507.00 to $542.00 and gave the company an “equal weight” rating in a report on Tuesday, March 4th. Finally, Piper Sandler boosted their target price on Ameriprise Financial from $415.00 to $442.00 and gave the stock an “underweight” rating in a report on Friday, January 31st. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Ameriprise Financial has an average rating of “Hold” and an average target price of $514.89.

Ameriprise Financial Profile

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.