15,841 Ameriprise Financial, Inc. $AMP Shares Acquired by CenterBook Partners LP

CenterBook Partners LP raised its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 231.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 22,698 shares of the financial services provider’s stock after buying an additional 15,841 shares during the period. CenterBook Partners LP’s holdings in Ameriprise Financial were worth $11,175,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of AMP. State Street Corp lifted its stake in shares of Ameriprise Financial by 1,279.7% during the 2nd quarter. State Street Corp now owns 63,365,362 shares of the financial services provider’s stock worth $29,069,493,000 after acquiring an additional 58,772,775 shares during the last quarter. Envestnet Asset Management Inc. grew its position in Ameriprise Financial by 960.8% in the 2nd quarter. Envestnet Asset Management Inc. now owns 3,352,117 shares of the financial services provider’s stock valued at $1,537,817,000 after acquiring an additional 3,036,128 shares during the last quarter. Assenagon Asset Management S.A. grew its position in Ameriprise Financial by 980.8% in the 3rd quarter. Assenagon Asset Management S.A. now owns 2,069,740 shares of the financial services provider’s stock valued at $1,019,036,000 after acquiring an additional 1,878,244 shares during the last quarter. Artemis Investment Management LLP purchased a new stake in Ameriprise Financial in the third quarter worth $925,211,000. Finally, Douglas Lane & Associates LLC purchased a new stake in Ameriprise Financial in the third quarter worth $575,767,000. Institutional investors own 83.95% of the company’s stock.

Ameriprise Financial Stock Down 1.4%

NYSE AMP traded down $6.88 during trading on Friday, hitting $502.44. The company’s stock had a trading volume of 557,363 shares, compared to its average volume of 572,403. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.68 and a quick ratio of 0.71. The company has a market cap of $43.62 billion, a PE ratio of 11.30, a P/E/G ratio of 1.08 and a beta of 1.13. The business’s 50 day simple moving average is $514.63 and its 200-day simple moving average is $493.16. Ameriprise Financial, Inc. has a fifty-two week low of $422.37 and a fifty-two week high of $572.56.

Ameriprise Financial (NYSE:AMP) last released its earnings results on Thursday, October 29th. The financial services provider reported $11.26 EPS for the quarter, missing analysts’ consensus estimates of $11.77 by ($0.51). Ameriprise Financial had a return on equity of 69.94% and a net margin of 20.99%. The company had revenue of $5.08 billion during the quarter, compared to analyst estimates of $5.10 billion. During the same quarter last year, the business earned $9.92 earnings per share. The firm’s revenue for the quarter was up 6.8% on a year-over-year basis. On average, equities analysts anticipate that Ameriprise Financial, Inc. will post 46.29 EPS for the current fiscal year.

Ameriprise Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 27th. Stockholders of record on Monday, November 9th will be paid a dividend of $1.70 per share. This represents a $6.80 annualized dividend and a dividend yield of 1.4%. The ex-dividend date of this dividend is Monday, November 9th. Ameriprise Financial’s dividend payout ratio is presently 15.30%.

Ameriprise Financial declared that its board has authorized a stock buyback program on Tuesday, September 29th that allows the company to buy back $5.50 billion in shares. This repurchase authorization allows the financial services provider to buy up to 12.3% of its shares through open market purchases. Share repurchase programs are often an indication that the company’s management believes its stock is undervalued.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Bank of America cut shares of Ameriprise Financial from a “buy” rating to an “underperform” rating and lowered their price objective for the company from $570.00 to $445.00 in a research report on Monday, October 19th. Morgan Stanley decreased their price target on shares of Ameriprise Financial from $489.00 to $483.00 and set an “underweight” rating for the company in a research note on Friday, October 9th. Jefferies Financial Group decreased their price target on shares of Ameriprise Financial from $645.00 to $638.00 in a research note on Monday, October 12th. Zacks Research lowered Ameriprise Financial from a “strong-buy” rating to a “hold” rating in a report on Monday, September 21st. Finally, Evercore dropped their price objective on Ameriprise Financial from $625.00 to $623.00 in a research note on Friday, July 24th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, five have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Ameriprise Financial currently has a consensus rating of “Hold” and an average price target of $557.00.

Insider Activity at Ameriprise Financial

In other news, SVP Dawn Brockman sold 472 shares of the company’s stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $558.93, for a total transaction of $263,814.96. Following the completion of the transaction, the senior vice president directly owned 713 shares of the company’s stock, valued at $398,517.09. This represents a 39.83% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. 0.60% of the stock is owned by company insiders.

Ameriprise Financial Profile

Ameriprise Financial is a financial services company focused on helping individuals and institutions plan for and manage their finances. Its offerings include financial planning and investment advice, brokerage services, asset management, insurance and annuity products.

The company traces its roots to Investors Syndicate, founded in Minneapolis in 1894. It became an independent public company in 2005 after separating from American Express, and remains headquartered in Minneapolis.

Ameriprise serves clients primarily in the United States through its network of financial advisors.