GSA Capital Partners LLP Buys Shares of 3,781 Ameriprise Financial, Inc. $AMP

GSA Capital Partners LLP bought a new stake in Ameriprise Financial, Inc. (NYSE:AMP) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 3,781 shares of the financial services provider’s stock, valued at approximately $1,854,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. PFG Investments LLC lifted its holdings in Ameriprise Financial by 1.4% in the fourth quarter. PFG Investments LLC now owns 1,488 shares of the financial services provider’s stock valued at $729,000 after acquiring an additional 21 shares during the period. Institute for Wealth Management LLC. raised its stake in shares of Ameriprise Financial by 3.6% during the 4th quarter. Institute for Wealth Management LLC. now owns 605 shares of the financial services provider’s stock worth $297,000 after buying an additional 21 shares during the last quarter. EPG Wealth Management LLC raised its stake in shares of Ameriprise Financial by 0.8% during the 4th quarter. EPG Wealth Management LLC now owns 2,714 shares of the financial services provider’s stock worth $1,331,000 after buying an additional 21 shares during the last quarter. UMB Bank n.a. raised its stake in shares of Ameriprise Financial by 0.8% during the 3rd quarter. UMB Bank n.a. now owns 3,062 shares of the financial services provider’s stock worth $1,504,000 after buying an additional 23 shares during the last quarter. Finally, Geneos Wealth Management Inc. raised its stake in shares of Ameriprise Financial by 5.4% during the 2nd quarter. Geneos Wealth Management Inc. now owns 447 shares of the financial services provider’s stock worth $239,000 after buying an additional 23 shares during the last quarter. Institutional investors and hedge funds own 83.95% of the company’s stock.

Ameriprise Financial Trading Down 1.6%

Shares of AMP stock opened at $463.56 on Wednesday. The firm has a 50-day moving average price of $454.46 and a 200 day moving average price of $473.40. Ameriprise Financial, Inc. has a twelve month low of $422.37 and a twelve month high of $550.18. The company has a market capitalization of $41.67 billion, a price-to-earnings ratio of 11.53, a PEG ratio of 1.11 and a beta of 1.20. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 0.90.

Ameriprise Financial (NYSE:AMP) last announced its earnings results on Thursday, April 23rd. The financial services provider reported $11.26 earnings per share for the quarter, beating the consensus estimate of $10.21 by $1.05. Ameriprise Financial had a net margin of 20.57% and a return on equity of 62.88%. The firm had revenue of $4.77 billion during the quarter, compared to the consensus estimate of $4.82 billion. During the same quarter in the previous year, the company posted $9.50 EPS. The firm’s revenue for the quarter was up 9.7% on a year-over-year basis. Research analysts forecast that Ameriprise Financial, Inc. will post 42.63 earnings per share for the current fiscal year.

Ameriprise Financial Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 22nd. Investors of record on Monday, May 4th will be paid a $1.70 dividend. This represents a $6.80 annualized dividend and a yield of 1.5%. The ex-dividend date of this dividend is Monday, May 4th. This is a positive change from Ameriprise Financial’s previous quarterly dividend of $1.60. Ameriprise Financial’s dividend payout ratio is presently 16.91%.

Analyst Upgrades and Downgrades

AMP has been the subject of several research reports. 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 research note on Monday, February 2nd. Keefe, Bruyette & Woods initiated coverage on Ameriprise Financial in a research note on Friday, April 10th. They set a “hold” rating for the company. Morgan Stanley lifted their price target on Ameriprise Financial from $452.00 to $467.00 and gave the stock an “underweight” rating in a research note on Thursday, April 30th. Raymond James Financial set a $582.00 price target on Ameriprise Financial and gave the stock a “strong-buy” rating in a research note on Wednesday, February 11th. Finally, BMO Capital Markets lifted their price target on Ameriprise Financial from $470.00 to $490.00 and gave the stock a “market perform” rating in a research note on Friday, April 24th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $543.22.

Insider Activity

In related news, EVP Gerard P. Smyth sold 6,255 shares of the business’s stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $472.52, for a total value of $2,955,612.60. Following the completion of the transaction, the executive vice president owned 6,103 shares of the company’s stock, valued at approximately $2,883,789.56. The trade was a 50.61% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Robert Francis Sharpe, Jr. sold 1,200 shares of the business’s stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $465.83, for a total transaction of $558,996.00. Following the completion of the transaction, the director directly owned 6,300 shares of the company’s stock, valued at $2,934,729. The trade was a 16.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.60% of the company’s stock.

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.