8,925 Shares in Ameriprise Financial, Inc. $AMP Acquired by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd bought a new stake in Ameriprise Financial, Inc. (NYSE:AMP) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 8,925 shares of the financial services provider’s stock, valued at approximately $4,384,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Whipplewood Advisors LLC raised its holdings 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 purchasing an additional 22 shares in the last quarter. Salomon & Ludwin LLC grew 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 purchasing an additional 30 shares in the last quarter. Winnow Wealth LLC purchased a new position in Ameriprise Financial in the second quarter valued at $32,000. Heartwood Wealth Advisors LLC acquired a new stake in Ameriprise Financial in the third quarter valued at $32,000. Finally, WFA of San Diego LLC purchased a new stake in Ameriprise Financial during the 2nd quarter worth about $36,000. Institutional investors and hedge funds own 83.95% of the company’s stock.

Analysts Set New Price Targets

AMP has been the topic of a number of recent analyst reports. Argus dropped their price objective on Ameriprise Financial from $568.00 to $554.00 and set a “buy” rating on the stock in a report on Thursday, November 13th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Ameriprise Financial in a research note on Monday, December 29th. Royal Bank Of Canada cut their price objective on shares of Ameriprise Financial from $601.00 to $550.00 and set an “outperform” rating on the stock in a report on Monday, November 3rd. BMO Capital Markets initiated coverage on shares of Ameriprise Financial in a report on Friday, October 3rd. They issued a “market perform” rating and a $525.00 target price for the company. Finally, Keefe, Bruyette & Woods dropped their target price on shares of Ameriprise Financial from $550.00 to $530.00 and set a “market perform” rating on the stock in a research report on Monday, November 3rd. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $528.75.

Ameriprise Financial Stock Performance

Shares of AMP opened at $496.29 on Monday. The company’s 50 day simple moving average is $484.70 and its 200-day simple moving average is $492.59. The firm has a market cap of $46.11 billion, a PE ratio of 13.61, a price-to-earnings-growth ratio of 1.28 and a beta of 1.26. Ameriprise Financial, Inc. has a 12-month low of $396.14 and a 12-month high of $582.05. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 0.88.

Ameriprise Financial (NYSE:AMP) last released its quarterly 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 net margin of 20.12% and a return on equity of 64.97%. The firm had revenue of $4.73 billion during the quarter, compared to the consensus estimate of $4.51 billion. During the same quarter in the prior year, the firm earned $9.02 EPS. Ameriprise Financial’s revenue for the quarter was up 9.0% on a year-over-year basis. As a group, equities analysts predict that Ameriprise Financial, Inc. will post 38.64 EPS for the current year.

Ameriprise Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, November 24th. Stockholders of record on Monday, November 10th were paid a dividend of $1.60 per share. The ex-dividend date was Monday, November 10th. This represents a $6.40 annualized dividend and a dividend yield of 1.3%. Ameriprise Financial’s dividend payout ratio is 17.55%.

Insider Activity

In related news, Director Robert Francis Sharpe, Jr. sold 1,500 shares of the business’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. The trade was a 16.67% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.57% of the stock is currently owned by corporate insiders.

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.