Trexquant Investment LP Purchases New Holdings in Ameriprise Financial, Inc. (NYSE:AMP)

Trexquant Investment LP bought a new position in shares of Ameriprise Financial, Inc. (NYSE:AMP - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 3,388 shares of the financial services provider's stock, valued at approximately $1,804,000.

A number of other institutional investors have also recently modified their holdings of the business. TCTC Holdings LLC purchased a new stake in shares of Ameriprise Financial during the 4th quarter worth $26,000. Whipplewood Advisors LLC purchased a new stake in Ameriprise Financial during the fourth quarter worth about $28,000. Rialto Wealth Management LLC acquired a new position in Ameriprise Financial during the fourth quarter worth about $28,000. Wingate Wealth Advisors Inc. purchased a new position in Ameriprise Financial in the fourth quarter valued at about $30,000. Finally, Sound Income Strategies LLC acquired a new stake in shares of Ameriprise Financial during the 4th quarter valued at approximately $36,000. 83.95% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Robert Francis Sharpe, Jr. sold 1,000 shares of the firm's stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $523.12, for a total transaction of $523,120.00. Following the sale, the director now directly owns 10,000 shares in the company, valued at approximately $5,231,200. This trade represents a 9.09 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Joseph Edward Sweeney sold 4,636 shares of the company's stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $539.07, for a total value of $2,499,128.52. Following the completion of the transaction, the insider now owns 7,237 shares of the company's stock, valued at approximately $3,901,249.59. This represents a 39.05 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 11,636 shares of company stock valued at $6,263,989. Company insiders own 0.73% of the company's stock.

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Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Morgan Stanley raised their price target on Ameriprise Financial from $507.00 to $542.00 and gave the company an "equal weight" rating in a research report on Tuesday, March 4th. Keefe, Bruyette & Woods cut their price objective on Ameriprise Financial from $570.00 to $520.00 and set a "market perform" rating for the company in a research report on Wednesday, April 9th. Royal Bank of Canada reissued an "outperform" rating and set a $625.00 price target on shares of Ameriprise Financial in a research report on Monday, February 3rd. Raymond James upgraded Ameriprise Financial from a "market perform" rating to a "strong-buy" rating and set a $518.00 price objective on the stock in a research report on Monday, April 7th. Finally, Piper Sandler upped their price objective on shares of Ameriprise Financial from $415.00 to $442.00 and gave the company an "underweight" rating in a research note on Friday, January 31st. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Ameriprise Financial presently has an average rating of "Hold" and an average target price of $517.44.

Ameriprise Financial Trading Up 1.4 %

Shares of AMP stock traded up $6.62 on Monday, reaching $475.39. 49,782 shares of the stock were exchanged, compared to its average volume of 494,251. Ameriprise Financial, Inc. has a 1-year low of $385.74 and a 1-year high of $582.05. The stock has a market cap of $45.69 billion, a P/E ratio of 14.38, a price-to-earnings-growth ratio of 1.15 and a beta of 1.23. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 1.01. The firm has a 50 day moving average of $501.06 and a two-hundred day moving average of $523.45.

Ameriprise Financial (NYSE:AMP - Get Free Report) last announced its quarterly earnings results on Wednesday, January 29th. The financial services provider reported $9.36 EPS for the quarter, topping the consensus estimate of $9.16 by $0.20. Ameriprise Financial had a return on equity of 69.35% and a net margin of 19.70%. On average, research analysts anticipate that Ameriprise Financial, Inc. will post 38.64 EPS for the current year.

Ameriprise Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Monday, February 10th were given a $1.48 dividend. This represents a $5.92 annualized dividend and a dividend yield of 1.25%. The ex-dividend date of this dividend was Monday, February 10th. Ameriprise Financial's payout ratio is currently 17.91%.

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.