Quadrant Capital Group LLC Purchases 3,640 Shares of Ameriprise Financial, Inc. $AMP

Quadrant Capital Group LLC boosted its position in Ameriprise Financial, Inc. (NYSE:AMP) by 69.7% in the second quarter, HoldingsChannel reports. The firm owned 8,863 shares of the financial services provider’s stock after buying an additional 3,640 shares during the quarter. Quadrant Capital Group LLC’s holdings in Ameriprise Financial were worth $4,730,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Knights of Columbus Asset Advisors LLC grew its stake in shares of Ameriprise Financial by 4.2% during the 2nd quarter. Knights of Columbus Asset Advisors LLC now owns 16,735 shares of the financial services provider’s stock worth $8,932,000 after acquiring an additional 667 shares during the period. NorthRock Partners LLC lifted its holdings in Ameriprise Financial by 8.9% during the second quarter. NorthRock Partners LLC now owns 10,955 shares of the financial services provider’s stock valued at $5,847,000 after purchasing an additional 897 shares during the last quarter. Ascent Group LLC bought a new position in Ameriprise Financial during the first quarter worth about $371,000. Advisory Alpha LLC bought a new position in Ameriprise Financial during the first quarter worth about $265,000. Finally, Voya Investment Management LLC increased its stake in shares of Ameriprise Financial by 4.0% in the first quarter. Voya Investment Management LLC now owns 110,989 shares of the financial services provider’s stock worth $53,731,000 after purchasing an additional 4,232 shares in the last quarter. Institutional investors own 83.95% of the company’s stock.

Ameriprise Financial Trading Up 0.2%

Shares of AMP opened at $453.56 on Thursday. Ameriprise Financial, Inc. has a 1-year low of $396.14 and a 1-year high of $582.05. The company has a market capitalization of $42.14 billion, a P/E ratio of 14.11, a P/E/G ratio of 1.07 and a beta of 1.28. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.62 and a quick ratio of 0.62. The firm’s 50 day simple moving average is $473.07 and its 200 day simple moving average is $500.71.

Ameriprise Financial (NYSE:AMP) last posted its quarterly earnings data on Thursday, October 30th. The financial services provider reported $9.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $9.76 by $0.16. The firm had revenue of $4.73 billion during the quarter, compared to analysts’ expectations of $4.51 billion. Ameriprise Financial had a return on equity of 65.90% and a net margin of 18.30%.The company’s revenue for the quarter was up 9.0% compared to the same quarter last year. During the same period in the prior year, the business earned $9.02 EPS. Sell-side analysts forecast that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current fiscal year.

Ameriprise Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, November 24th. Shareholders of record on Monday, November 10th were paid a dividend of $1.60 per share. The ex-dividend date of this dividend was Monday, November 10th. This represents a $6.40 annualized dividend and a dividend yield of 1.4%. Ameriprise Financial’s dividend payout ratio (DPR) is 17.55%.

Analyst Ratings Changes

AMP has been the subject of several analyst reports. Morgan Stanley cut their price objective on shares of Ameriprise Financial from $530.00 to $484.00 and set an “underweight” rating for the company in a report on Wednesday, October 1st. BMO Capital Markets initiated coverage on Ameriprise Financial in a research note on Friday, October 3rd. They issued a “market perform” rating and a $525.00 target price for the company. Keefe, Bruyette & Woods decreased their price target on 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. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Ameriprise Financial in a research note on Wednesday, October 8th. Finally, Argus lowered their target price on shares of Ameriprise Financial from $568.00 to $554.00 and set a “buy” rating on the stock in a research note on Thursday, November 13th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $533.22.

Insider Buying and Selling

In other news, EVP Heather J. Melloh sold 1,500 shares of the company’s stock in a transaction on Thursday, September 4th. The shares were sold at an average price of $512.34, for a total value of $768,510.00. Following the completion of the sale, the executive vice president owned 2,562 shares of the company’s stock, valued at approximately $1,312,615.08. This represents a 36.93% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Robert Francis Sharpe, Jr. sold 1,500 shares of the firm’s stock in a transaction dated Friday, November 21st. The shares were sold at an average price of $450.94, for a total value of $676,410.00. Following the transaction, the director directly owned 7,500 shares in the company, valued at $3,382,050. This trade represents a 16.67% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 0.73% of the company’s stock.

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.