Savant Capital LLC Grows Stock Position in Ameriprise Financial, Inc. (NYSE:AMP)

Savant Capital LLC lifted its stake in Ameriprise Financial, Inc. (NYSE:AMP) by 0.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,717 shares of the financial services provider’s stock after buying an additional 54 shares during the period. Savant Capital LLC’s holdings in Ameriprise Financial were worth $3,576,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Brookstone Capital Management purchased a new position in Ameriprise Financial during the 3rd quarter valued at about $226,000. Ritholtz Wealth Management boosted its position in Ameriprise Financial by 11.7% during the 3rd quarter. Ritholtz Wealth Management now owns 1,964 shares of the financial services provider’s stock valued at $922,000 after acquiring an additional 206 shares in the last quarter. Exchange Traded Concepts LLC bought a new position in shares of Ameriprise Financial in the 3rd quarter worth approximately $108,000. Armstrong Advisory Group Inc. raised its position in shares of Ameriprise Financial by 16.7% in the 3rd quarter. Armstrong Advisory Group Inc. now owns 265 shares of the financial services provider’s stock worth $124,000 after acquiring an additional 38 shares in the last quarter. Finally, Paladin Wealth LLC bought a new position in shares of Ameriprise Financial in the 3rd quarter worth approximately $144,000. Hedge funds and other institutional investors own 83.95% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on AMP shares. Royal Bank of Canada reissued an “outperform” rating and issued a $625.00 target price on shares of Ameriprise Financial in a research report on Monday, February 3rd. UBS Group lowered Ameriprise Financial from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $580.00 to $570.00 in a research report on Monday, January 6th. Keefe, Bruyette & Woods increased their target price on Ameriprise Financial from $560.00 to $570.00 and gave the stock a “market perform” rating in a research report on Monday, February 3rd. Morgan Stanley increased their target price on Ameriprise Financial from $440.00 to $502.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 17th. Finally, Piper Sandler increased their target price on Ameriprise Financial from $415.00 to $442.00 and gave the stock an “underweight” rating in a research report on Friday, January 31st. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $510.44.

Ameriprise Financial Stock Performance

Ameriprise Financial stock opened at $528.72 on Wednesday. The company has a quick ratio of 0.65, a current ratio of 0.59 and a debt-to-equity ratio of 1.01. The company has a market capitalization of $51.29 billion, a P/E ratio of 15.99, a PEG ratio of 1.18 and a beta of 1.36. The stock’s 50 day moving average is $543.42 and its 200 day moving average is $503.37. Ameriprise Financial, Inc. has a twelve month low of $385.74 and a twelve month high of $582.05.

Ameriprise Financial (NYSE:AMP) last posted its quarterly earnings results on Wednesday, January 29th. The financial services provider reported $9.36 earnings per share 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, equities research analysts predict that Ameriprise Financial, Inc. will post 38.55 earnings per share for the current fiscal year.

Ameriprise Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Monday, February 10th will be paid a dividend of $1.48 per share. The ex-dividend date is Monday, February 10th. This represents a $5.92 annualized dividend and a yield of 1.12%. Ameriprise Financial’s dividend payout ratio is 17.91%.

Insider Buying and Selling at Ameriprise Financial

In other Ameriprise Financial news, CEO William F. Truscott sold 6,000 shares of the stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $540.29, for a total transaction of $3,241,740.00. Following the sale, the chief executive officer now directly owns 14,023 shares in the company, valued at approximately $7,576,486.67. This trade represents a 29.97 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company 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.