GAMMA Investing LLC Has $1.52 Million Stock Holdings in Ameriprise Financial, Inc. (NYSE:AMP)

GAMMA Investing LLC increased its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 243.1% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 3,548 shares of the financial services provider’s stock after buying an additional 2,514 shares during the period. GAMMA Investing LLC’s holdings in Ameriprise Financial were worth $1,516,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Pinnacle Associates Ltd. increased its position in Ameriprise Financial by 4.1% during the 4th quarter. Pinnacle Associates Ltd. now owns 1,144 shares of the financial services provider’s stock worth $434,000 after purchasing an additional 45 shares in the last quarter. Fifth Third Bancorp increased its position in shares of Ameriprise Financial by 5.0% during the fourth quarter. Fifth Third Bancorp now owns 6,527 shares of the financial services provider’s stock worth $2,479,000 after buying an additional 308 shares during the period. Trust Point Inc. acquired a new stake in shares of Ameriprise Financial during the fourth quarter worth $264,000. Ballentine Partners LLC increased its position in shares of Ameriprise Financial by 6.3% during the fourth quarter. Ballentine Partners LLC now owns 1,609 shares of the financial services provider’s stock worth $611,000 after buying an additional 96 shares during the period. Finally, Private Trust Co. NA increased its position in shares of Ameriprise Financial by 11.2% during the fourth quarter. Private Trust Co. NA now owns 657 shares of the financial services provider’s stock worth $250,000 after buying an additional 66 shares during the period. Institutional investors own 83.95% of the company’s stock.

Ameriprise Financial Stock Down 3.8 %

Shares of Ameriprise Financial stock traded down $15.75 during trading hours on Friday, reaching $402.61. The company’s stock had a trading volume of 679,597 shares, compared to its average volume of 551,653. Ameriprise Financial, Inc. has a one year low of $306.63 and a one year high of $449.94. The company has a market capitalization of $39.99 billion, a P/E ratio of 13.70, a P/E/G ratio of 0.73 and a beta of 1.37. The stock’s fifty day simple moving average is $430.64 and its two-hundred day simple moving average is $419.91. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.56 and a current ratio of 0.59.

Ameriprise Financial (NYSE:AMP) last released its quarterly earnings data on Wednesday, July 24th. The financial services provider reported $8.72 earnings per share for the quarter, beating analysts’ consensus estimates of $8.53 by $0.19. The firm had revenue of $4.39 billion for the quarter, compared to analyst estimates of $4.24 billion. Ameriprise Financial had a net margin of 18.64% and a return on equity of 73.83%. The business’s quarterly revenue was up 9.6% compared to the same quarter last year. During the same period last year, the firm earned $7.44 earnings per share. On average, research analysts forecast that Ameriprise Financial, Inc. will post 34.77 earnings per share for the current year.

Ameriprise Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 16th. Stockholders of record on Monday, August 5th will be issued a $1.48 dividend. The ex-dividend date is Monday, August 5th. This represents a $5.92 annualized dividend and a dividend yield of 1.47%. Ameriprise Financial’s dividend payout ratio is currently 20.15%.

Insider Activity

In related news, Director Robert Francis Sharpe, Jr. sold 1,500 shares of the firm’s stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $438.07, for a total transaction of $657,105.00. Following the completion of the sale, the director now owns 11,000 shares in the company, valued at $4,818,770. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.73% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on AMP. UBS Group decreased their price objective on shares of Ameriprise Financial from $500.00 to $495.00 and set a “buy” rating for the company in a research report on Tuesday, July 9th. Evercore ISI increased their price objective on shares of Ameriprise Financial from $400.00 to $445.00 and gave the stock an “in-line” rating in a research report on Thursday, April 11th. Argus increased their price objective on shares of Ameriprise Financial from $440.00 to $460.00 and gave the stock a “buy” rating in a research report on Monday, May 6th. Keefe, Bruyette & Woods cut their target price on shares of Ameriprise Financial from $470.00 to $460.00 and set a “market perform” rating on the stock in a research note on Tuesday, July 30th. Finally, Jefferies Financial Group increased their target price on shares of Ameriprise Financial from $500.00 to $504.00 and gave the stock a “buy” rating in a research note on Friday, June 28th. One analyst has rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $464.33.

About Ameriprise Financial

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.