Qube Research & Technologies Ltd Purchases New Position in Ameriprise Financial, Inc. (NYSE:AMP)

Qube Research & Technologies Ltd purchased a new stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 10,107 shares of the financial services provider’s stock, valued at approximately $2,515,000.

A number of other institutional investors have also recently made changes to their positions in the stock. Liberty Wealth Management LLC lifted its stake in shares of Ameriprise Financial by 24,508.8% in the 2nd quarter. Liberty Wealth Management LLC now owns 39,374 shares of the financial services provider’s stock valued at $158,000 after purchasing an additional 39,214 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its stake in shares of Ameriprise Financial by 14.1% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 10,637 shares of the financial services provider’s stock valued at $2,648,000 after purchasing an additional 1,312 shares during the last quarter. Bailard Inc. lifted its stake in shares of Ameriprise Financial by 8.9% in the 2nd quarter. Bailard Inc. now owns 9,431 shares of the financial services provider’s stock valued at $2,347,000 after purchasing an additional 772 shares during the last quarter. Vident Investment Advisory LLC lifted its stake in shares of Ameriprise Financial by 33.3% in the 2nd quarter. Vident Investment Advisory LLC now owns 14,692 shares of the financial services provider’s stock valued at $3,656,000 after purchasing an additional 3,668 shares during the last quarter. Finally, FMR LLC lifted its stake in shares of Ameriprise Financial by 30.5% in the 2nd quarter. FMR LLC now owns 1,515,762 shares of the financial services provider’s stock valued at $377,243,000 after purchasing an additional 354,421 shares during the last quarter. 82.21% of the stock is owned by institutional investors.

In other news, CEO William F. Truscott sold 19,522 shares of Ameriprise Financial stock in a transaction on Thursday, August 26th. The stock was sold at an average price of $271.39, for a total value of $5,298,075.58. Following the transaction, the chief executive officer now directly owns 67,055 shares in the company, valued at approximately $18,198,056.45. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Joseph Edward Sweeney sold 11,210 shares of Ameriprise Financial stock in a transaction on Monday, August 9th. The shares were sold at an average price of $265.52, for a total value of $2,976,479.20. The disclosure for this sale can be found here. Company insiders own 1.10% of the company’s stock.

Several research firms have recently issued reports on AMP. Wolfe Research began coverage on Ameriprise Financial in a research note on Tuesday. They issued an “outperform” rating and a $328.00 price objective for the company. raised their price objective on Ameriprise Financial from $265.00 to $290.00 and gave the company a “buy” rating in a research note on Monday, June 21st. Morgan Stanley reaffirmed an “equal weight” rating and issued a $248.38 price objective (down from $260.00) on shares of Ameriprise Financial in a research note on Tuesday, July 27th. Finally, UBS Group raised their price objective on Ameriprise Financial from $285.00 to $300.00 and gave the company a “buy” rating in a research note on Thursday, July 8th. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $268.34.

Shares of NYSE AMP opened at $278.35 on Thursday. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.76 and a current ratio of 0.76. The business’s 50 day moving average price is $269.24 and its 200-day moving average price is $257.28. Ameriprise Financial, Inc. has a fifty-two week low of $155.33 and a fifty-two week high of $284.09. The company has a market cap of $31.66 billion, a price-to-earnings ratio of 31.81 and a beta of 1.69.

Ameriprise Financial (NYSE:AMP) last issued its quarterly earnings results on Sunday, July 25th. The financial services provider reported $5.27 earnings per share for the quarter, topping the consensus estimate of $5.21 by $0.06. Ameriprise Financial had a return on equity of 41.42% and a net margin of 8.22%. The firm had revenue of $3.39 billion for the quarter, compared to the consensus estimate of $3.38 billion. During the same period in the prior year, the business posted $2.64 earnings per share. Sell-side analysts predict that Ameriprise Financial, Inc. will post 21.75 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 20th. Shareholders of record on Monday, August 9th were issued a dividend of $1.13 per share. The ex-dividend date of this dividend was Friday, August 6th. This represents a $4.52 annualized dividend and a yield of 1.62%. Ameriprise Financial’s payout ratio is currently 32.10%.

Ameriprise Financial Profile

Ameriprise Financial, Inc operates as a holding company. The firm provides financial planning, asset management and insurance services to individuals, businesses and institutions. It operates through the following business segments: Advice & Wealth Management, Asset Management, Retirement & Protection Solutions, and Corporate & Other.

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Institutional Ownership by Quarter for Ameriprise Financial (NYSE:AMP)

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