V Square Quantitative Management LLC Buys 356 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

19 Oct 2024, 15:58 by Mitch Edgeman · The Markets Daily

V Square Quantitative Management LLC increased its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP – Free Report) by 19.6% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 2,171 shares of the financial services provider’s stock after buying an additional 356 shares during the period. V Square Quantitative Management LLC’s holdings in Ameriprise Financial were worth $1,020,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Howard Capital Management Group LLC boosted its holdings in shares of Ameriprise Financial by 11.1% during the third quarter. Howard Capital Management Group LLC now owns 1,787 shares of the financial services provider’s stock worth $840,000 after acquiring an additional 178 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd lifted its holdings in Ameriprise Financial by 11.9% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 10,906 shares of the financial services provider’s stock worth $5,124,000 after purchasing an additional 1,159 shares during the last quarter. Bar Harbor Wealth Management bought a new stake in Ameriprise Financial in the 3rd quarter valued at $211,000. Trifecta Capital Advisors LLC grew its holdings in Ameriprise Financial by 31.4% in the 3rd quarter. Trifecta Capital Advisors LLC now owns 138 shares of the financial services provider’s stock valued at $65,000 after buying an additional 33 shares in the last quarter. Finally, Global Retirement Partners LLC increased its position in Ameriprise Financial by 8.8% during the 3rd quarter. Global Retirement Partners LLC now owns 3,732 shares of the financial services provider’s stock worth $1,753,000 after buying an additional 301 shares during the period. Institutional investors and hedge funds own 83.95% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on AMP. Keefe, Bruyette & Woods upgraded shares of Ameriprise Financial from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 10th. The Goldman Sachs Group lowered shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $485.00 to $476.00 in a research report on Thursday, September 26th. Morgan Stanley lifted their price target on shares of Ameriprise Financial from $440.00 to $502.00 and gave the company an “equal weight” rating in a research report on Thursday. Royal Bank of Canada increased their price target on Ameriprise Financial from $500.00 to $535.00 and gave the stock an “outperform” rating in a research report on Friday, October 11th. Finally, Jefferies Financial Group lifted their price objective on Ameriprise Financial from $500.00 to $504.00 and gave the company a “buy” rating in a report on Friday, June 28th. One research analyst has rated the stock with a sell rating, five have given a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $480.44.

View Our Latest Analysis on AMP

Ameriprise Financial Trading Up 0.3 %

Shares of AMP stock opened at $523.16 on Friday. Ameriprise Financial, Inc. has a fifty-two week low of $306.63 and a fifty-two week high of $524.89. The stock’s fifty day moving average price is $457.59 and its two-hundred day moving average price is $437.20. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.59 and a current ratio of 0.59. The company has a market cap of $51.96 billion, a PE ratio of 17.81, a P/E/G ratio of 0.81 and a beta of 1.35.

Ameriprise Financial (NYSE:AMP – Get Free Report) last announced its quarterly earnings data on Wednesday, July 24th. The financial services provider reported $8.72 earnings per share for the quarter, topping the consensus estimate of $8.53 by $0.19. The business had revenue of $4.39 billion during the quarter, compared to the consensus estimate of $4.24 billion. Ameriprise Financial had a return on equity of 73.83% and a net margin of 18.64%. Ameriprise Financial’s revenue for the quarter was up 9.6% on a year-over-year basis. During the same period in the prior year, the company earned $7.44 EPS. Equities analysts predict that Ameriprise Financial, Inc. will post 34.92 EPS for the current fiscal year.

Ameriprise Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 16th. Investors of record on Monday, August 5th were issued a dividend of $1.48 per share. This represents a $5.92 annualized dividend and a dividend yield of 1.13%. The ex-dividend date of this dividend was Monday, August 5th. Ameriprise Financial’s dividend payout ratio (DPR) is presently 20.15%.

Insider Buying and Selling

In other Ameriprise Financial news, VP William Davies sold 8,700 shares of the business’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $442.07, for a total transaction of $3,846,009.00. Following the sale, the vice president now owns 13,199 shares of the company’s stock, valued at approximately $5,834,881.93. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.73% of the stock is owned by corporate insiders.

Ameriprise Financial Company Profile

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