ABC Arbitrage SA Makes New Investment in Ameriprise Financial, Inc. $AMP

ABC Arbitrage SA acquired a new stake in Ameriprise Financial, Inc. (NYSE:AMP) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 5,402 shares of the financial services provider’s stock, valued at approximately $2,654,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Whipplewood Advisors LLC boosted its stake in shares of Ameriprise Financial by 71.0% in the 2nd quarter. Whipplewood Advisors LLC now owns 53 shares of the financial services provider’s stock valued at $28,000 after buying an additional 22 shares during the period. Salomon & Ludwin LLC increased its stake in shares of Ameriprise Financial by 115.4% during the second quarter. Salomon & Ludwin LLC now owns 56 shares of the financial services provider’s stock worth $30,000 after buying an additional 30 shares during the period. Winnow Wealth LLC acquired a new stake in Ameriprise Financial in the second quarter valued at approximately $32,000. Heartwood Wealth Advisors LLC purchased a new position in Ameriprise Financial in the third quarter worth approximately $32,000. Finally, WFA of San Diego LLC purchased a new position in Ameriprise Financial in the second quarter worth approximately $36,000. 83.95% of the stock is currently owned by hedge funds and other institutional investors.

Ameriprise Financial Price Performance

Shares of NYSE:AMP opened at $504.69 on Wednesday. Ameriprise Financial, Inc. has a one year low of $396.14 and a one year high of $552.43. The stock has a market capitalization of $46.89 billion, a price-to-earnings ratio of 13.88, a PEG ratio of 1.26 and a beta of 1.26. The company has a 50-day simple moving average of $502.26 and a 200-day simple moving average of $491.72. 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 (NYSE:AMP) last issued its quarterly earnings results on Thursday, January 29th. The financial services provider reported $10.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $10.33 by $0.50. Ameriprise Financial had a return on equity of 63.04% and a net margin of 19.28%.The firm had revenue of $4.90 billion for the quarter, compared to analysts’ expectations of $4.75 billion. During the same quarter in the previous year, the firm posted $9.54 EPS. The firm’s revenue for the quarter was up 10.2% on a year-over-year basis. On average, analysts predict that Ameriprise Financial, Inc. will post 38.64 EPS for the current year.

Ameriprise Financial Announces Dividend

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. The ex-dividend date of this dividend is Monday, February 9th. This represents a $6.40 annualized dividend and a dividend yield of 1.3%. Ameriprise Financial’s dividend payout ratio (DPR) is currently 17.60%.

Insiders Place Their Bets

In related news, CFO Walter Stanley Berman sold 7,000 shares of Ameriprise Financial 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 transaction, the chief financial officer directly owned 5,609 shares in the company, valued at $3,052,529.98. This trade represents a 55.52% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Robert Francis Sharpe, Jr. sold 1,500 shares of the company’s stock in a transaction on Friday, November 21st. The stock was sold at an average price of $450.94, for a total transaction of $676,410.00. Following the transaction, the director owned 7,500 shares of the company’s stock, valued at approximately $3,382,050. The trade was a 16.67% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.57% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. Weiss Ratings restated a “buy (b-)” rating on shares of Ameriprise Financial in a report on Monday, December 29th. Morgan Stanley increased their target price on Ameriprise Financial from $484.00 to $485.00 and gave the company an “underweight” rating in a report on Monday, December 22nd. Jefferies Financial Group lifted their price target on Ameriprise Financial from $600.00 to $620.00 and gave the stock a “buy” rating in a report on Monday, February 2nd. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $605.00 price objective (up from $580.00) on shares of Ameriprise Financial in a research report on Monday, February 2nd. Finally, Keefe, Bruyette & Woods dropped their price objective on Ameriprise Financial from $550.00 to $530.00 and set a “market perform” rating on the stock in a report on Monday, November 3rd. One 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. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $555.67.

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.