V Square Quantitative Management LLC Acquires 105 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

V Square Quantitative Management LLC increased its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 4.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,276 shares of the financial services provider’s stock after acquiring an additional 105 shares during the quarter. V Square Quantitative Management LLC’s holdings in Ameriprise Financial were worth $1,212,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Wingate Wealth Advisors Inc. bought a new stake in Ameriprise Financial during the fourth quarter worth $30,000. Oakworth Capital Inc. bought a new stake in shares of Ameriprise Financial in the third quarter valued at $31,000. Sound Income Strategies LLC bought a new stake in shares of Ameriprise Financial in the fourth quarter valued at $36,000. Golden State Wealth Management LLC bought a new stake in shares of Ameriprise Financial in the fourth quarter valued at $38,000. Finally, Albion Financial Group UT bought a new stake in shares of Ameriprise Financial in the fourth quarter valued at $46,000. 83.95% of the stock is currently owned by institutional investors.

Ameriprise Financial Trading Up 1.3 %

Shares of AMP stock opened at $546.69 on Friday. The stock has a market capitalization of $53.03 billion, a PE ratio of 16.54, a P/E/G ratio of 1.18 and a beta of 1.36. Ameriprise Financial, Inc. has a 1-year low of $385.74 and a 1-year high of $582.05. The business has a 50-day moving average of $541.49 and a 200 day moving average of $504.41. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.59 and a quick ratio of 0.65.

Ameriprise Financial (NYSE:AMP) last released its quarterly earnings results on Wednesday, January 29th. The financial services provider reported $9.36 EPS for the quarter, beating analysts’ consensus estimates of $9.16 by $0.20. Ameriprise Financial had a return on equity of 69.35% and a net margin of 19.70%. As a group, sell-side analysts anticipate that Ameriprise Financial, Inc. will post 38.55 earnings per share for the current year.

Ameriprise Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Monday, February 10th will be given a $1.48 dividend. This represents a $5.92 annualized dividend and a dividend yield of 1.08%. The ex-dividend date of this dividend is Monday, February 10th. Ameriprise Financial’s dividend payout ratio is currently 17.91%.

Insider Transactions at Ameriprise Financial

In related news, CEO William F. Truscott sold 6,000 shares of the company’s stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $540.29, for a total value of $3,241,740.00. Following the sale, the chief executive officer now owns 14,023 shares in the company, valued at $7,576,486.67. This represents a 29.97 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Robert Francis Sharpe, Jr. sold 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $523.12, for a total value of $523,120.00. Following the completion of the sale, the director now owns 10,000 shares in the company, valued at $5,231,200. The trade was a 9.09 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.73% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Keefe, Bruyette & Woods boosted their price objective on Ameriprise Financial from $560.00 to $570.00 and gave the company a “market perform” rating in a research note on Monday, February 3rd. UBS Group lowered Ameriprise Financial from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $580.00 to $570.00 in a research note on Monday, January 6th. Piper Sandler boosted their price objective on Ameriprise Financial from $415.00 to $442.00 and gave the company an “underweight” rating in a research note on Friday, January 31st. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $625.00 price objective on shares of Ameriprise Financial in a research note on Monday, February 3rd. One analyst has rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $510.44.

Ameriprise Financial Profile

Ameriprise Financial, Inc, together with its subsidiaries, provides various financial products and services to individual and institutional clients in the United States and internationally. It operates through four segments: Advice & Wealth Management, Asset Management, Retirement & Protection Solutions, and Corporate & Other.