CTC Alternative Strategies Ltd. Purchases Shares of 1,410 Ameriprise Financial, Inc. $AMP

CTC Alternative Strategies Ltd. acquired a new position in Ameriprise Financial, Inc. (NYSE:AMP) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 1,410 shares of the financial services provider’s stock, valued at approximately $693,000. Ameriprise Financial makes up about 0.8% of CTC Alternative Strategies Ltd.’s investment portfolio, making the stock its 22nd largest holding.

Other hedge funds and other institutional investors have also made changes to their positions in the company. AE Wealth Management LLC boosted its holdings in Ameriprise Financial by 104.2% during the third quarter. AE Wealth Management LLC now owns 3,962 shares of the financial services provider’s stock worth $1,946,000 after buying an additional 2,022 shares in the last quarter. National Pension Service increased its holdings in Ameriprise Financial by 4.6% in the third quarter. National Pension Service now owns 152,980 shares of the financial services provider’s stock valued at $75,151,000 after buying an additional 6,724 shares in the last quarter. Optimize Financial Inc acquired a new position in shares of Ameriprise Financial in the third quarter worth about $453,000. Arjuna Capital raised its position in shares of Ameriprise Financial by 14.6% in the third quarter. Arjuna Capital now owns 12,613 shares of the financial services provider’s stock worth $6,196,000 after acquiring an additional 1,610 shares during the period. Finally, Candriam S.C.A. boosted its stake in shares of Ameriprise Financial by 83.9% during the 3rd quarter. Candriam S.C.A. now owns 63,839 shares of the financial services provider’s stock worth $31,361,000 after acquiring an additional 29,116 shares in the last quarter. Institutional investors and hedge funds own 83.95% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. Royal Bank Of Canada restated an “outperform” rating and issued a $605.00 price target (up from $580.00) on shares of Ameriprise Financial in a research note on Monday, February 2nd. Weiss Ratings reiterated a “buy (b-)” rating on shares of Ameriprise Financial in a research report on Monday, December 29th. Raymond James Financial set a $582.00 price objective on Ameriprise Financial and gave the company a “strong-buy” rating in a report on Wednesday, February 11th. Piper Sandler raised Ameriprise Financial from an “underweight” rating to a “neutral” rating and upped their target price for the stock from $434.00 to $530.00 in a research note on Friday, January 30th. Finally, BMO Capital Markets reiterated a “market perform” rating on shares of Ameriprise Financial in a research report on Tuesday, March 3rd. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $555.67.

Insider Buying and Selling

In other Ameriprise Financial news, CEO William F. Truscott sold 5,000 shares of the firm’s stock in a transaction on Tuesday, February 10th. The stock was sold at an average price of $532.08, for a total value of $2,660,400.00. Following the transaction, the chief executive officer owned 12,149 shares in the company, valued at approximately $6,464,239.92. This trade represents a 29.16% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Gumer Alvero sold 4,658 shares of Ameriprise Financial stock in a transaction on Monday, February 9th. The stock was sold at an average price of $542.88, for a total transaction of $2,528,735.04. Following the sale, the insider directly owned 4,621 shares in the company, valued at approximately $2,508,648.48. This trade represents a 50.20% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 16,658 shares of company stock worth $8,998,675. 0.73% of the stock is owned by corporate insiders.

Ameriprise Financial Stock Down 1.3%

AMP opened at $432.15 on Thursday. The company has a market cap of $39.40 billion, a PE ratio of 11.89, a price-to-earnings-growth ratio of 1.02 and a beta of 1.27. Ameriprise Financial, Inc. has a twelve month low of $396.14 and a twelve month high of $550.18. The company has a 50-day moving average price of $487.43 and a 200 day moving average price of $483.26. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 0.86.

Ameriprise Financial (NYSE:AMP) last posted its quarterly earnings data on Thursday, January 29th. The financial services provider reported $10.83 earnings per share (EPS) for the quarter, topping 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 company had revenue of $4.92 billion for the quarter, compared to analysts’ expectations of $4.75 billion. During the same period in the previous year, the firm posted $9.54 EPS. Ameriprise Financial’s revenue was up 10.2% compared to the same quarter last year. Sell-side analysts expect that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current fiscal year.

Ameriprise Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, February 27th. Stockholders of record on Monday, February 9th were paid a $1.60 dividend. The ex-dividend date of this dividend was Monday, February 9th. This represents a $6.40 dividend on an annualized basis and a dividend yield of 1.5%. Ameriprise Financial’s payout ratio is currently 17.60%.

Ameriprise Financial 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.