R Squared Ltd Invests $490,000 in Ameriprise Financial, Inc. (NYSE:AMP)

R Squared Ltd purchased a new stake in Ameriprise Financial, Inc. (NYSE:AMP) during the fourth quarter, according to its most recent filing with the SEC. The firm purchased 920 shares of the financial services provider’s stock, valued at approximately $490,000. Ameriprise Financial accounts for approximately 0.5% of R Squared Ltd’s portfolio, making the stock its 28th largest position.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Oakworth Capital Inc. acquired a new stake in Ameriprise Financial in the third quarter worth $31,000. Sound Income Strategies LLC acquired a new stake in Ameriprise Financial during the 4th quarter worth $36,000. Country Trust Bank raised its stake in Ameriprise Financial by 213.6% during the 3rd quarter. Country Trust Bank now owns 69 shares of the financial services provider’s stock worth $32,000 after buying an additional 47 shares during the period. Albion Financial Group UT bought a new position in Ameriprise Financial during the fourth quarter worth about $46,000. Finally, Peterson Financial Group Inc. acquired a new position in Ameriprise Financial in the third quarter valued at about $45,000. Institutional investors own 83.95% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on AMP shares. Keefe, Bruyette & Woods cut their price objective on Ameriprise Financial from $565.00 to $560.00 and set a “market perform” rating on the stock in a report on Friday, January 10th. 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 note on Thursday, October 17th. UBS Group downgraded shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $580.00 to $570.00 in a research report on Monday, January 6th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $625.00 price objective on shares of Ameriprise Financial in a research report on Monday. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $503.22.

Ameriprise Financial Stock Up 1.9 %

Ameriprise Financial stock opened at $571.93 on Wednesday. The company has a fifty day simple moving average of $548.14 and a 200 day simple moving average of $495.06. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.99. Ameriprise Financial, Inc. has a 1-year low of $378.05 and a 1-year high of $577.00. The company has a market cap of $55.48 billion, a P/E ratio of 21.96, a price-to-earnings-growth ratio of 0.85 and a beta of 1.36.

Insider Activity

In other news, insider Gumer Alvero sold 2,325 shares of Ameriprise Financial stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $516.05, for a total value of $1,199,816.25. Following the completion of the transaction, the insider now owns 4,669 shares of the company’s stock, valued at $2,409,437.45. This trade represents a 33.24 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Walter Stanley Berman sold 8,655 shares of the business’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $564.16, for a total transaction of $4,882,804.80. Following the transaction, 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 disclosure for this sale can be found here. Insiders sold 21,715 shares of company stock worth $11,983,436 in the last quarter. Corporate insiders own 0.73% of the company’s stock.

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.