GSA Capital Partners LLP Takes Position in Ameriprise Financial, Inc. (NYSE:AMP)

GSA Capital Partners LLP acquired a new stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) in the 3rd quarter, HoldingsChannel reports. The fund acquired 1,070 shares of the financial services provider’s stock, valued at approximately $503,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of AMP. DiNuzzo Private Wealth Inc. raised its stake in shares of Ameriprise Financial by 268.8% during the second quarter. DiNuzzo Private Wealth Inc. now owns 59 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 43 shares during the last quarter. Accordant Advisory Group Inc bought a new position in shares of Ameriprise Financial during the second quarter valued at about $26,000. Mascoma Wealth Management LLC raised its stake in shares of Ameriprise Financial by 153.8% during the second quarter. Mascoma Wealth Management LLC now owns 66 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 40 shares during the last quarter. Bank & Trust Co bought a new position in Ameriprise Financial in the second quarter worth about $29,000. Finally, Hantz Financial Services Inc. bought a new position in Ameriprise Financial in the second quarter worth about $29,000. 83.95% of the stock is owned by institutional investors.

Insider Activity

In other news, CFO Walter Stanley Berman sold 8,655 shares of the stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $564.16, for a total transaction of $4,882,804.80. Following the sale, the chief financial officer now owns 6,409 shares in the company, valued at $3,615,701.44. This represents a 57.45 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP William Davies sold 8,700 shares of the stock in a transaction that occurred 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 in the company, valued at approximately $5,834,881.93. The trade was a 39.73 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 30,415 shares of company stock worth $15,829,445 over the last 90 days. 0.96% of the stock is currently owned by insiders.

Ameriprise Financial Price Performance

Shares of AMP opened at $562.33 on Wednesday. The stock has a market cap of $54.55 billion, a PE ratio of 21.59, a price-to-earnings-growth ratio of 0.98 and a beta of 1.34. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.65 and a current ratio of 0.65. Ameriprise Financial, Inc. has a fifty-two week low of $343.98 and a fifty-two week high of $569.47. The firm’s 50-day simple moving average is $501.69 and its two-hundred day simple moving average is $455.28.

Ameriprise Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Monday, November 4th were issued a $1.48 dividend. This represents a $5.92 dividend on an annualized basis and a yield of 1.05%. The ex-dividend date of this dividend was Monday, November 4th. Ameriprise Financial’s dividend payout ratio (DPR) is presently 22.73%.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. Keefe, Bruyette & Woods increased their price target on shares of Ameriprise Financial from $475.00 to $510.00 and gave the stock a “market perform” rating in a research note on Tuesday, October 29th. UBS Group increased their price target on shares of Ameriprise Financial from $490.00 to $555.00 and gave the stock a “buy” rating in a research note on Tuesday, October 8th. Royal Bank of Canada increased their price target on shares of Ameriprise Financial from $535.00 to $550.00 and gave the stock an “outperform” rating in a research note on Friday, October 25th. The Goldman Sachs Group downgraded shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $485.00 to $476.00 in a research note on Thursday, September 26th. Finally, Morgan Stanley increased their price target on shares of Ameriprise Financial from $440.00 to $502.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 17th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $487.67.

Ameriprise Financial Company 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.