Summit Trail Advisors LLC Raises Stake in Ameriprise Financial, Inc. (NYSE:AMP)

Summit Trail Advisors LLC boosted its holdings in Ameriprise Financial, Inc. (NYSE:AMP) by 10.4% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 911 shares of the financial services provider’s stock after buying an additional 86 shares during the period. Summit Trail Advisors LLC’s holdings in Ameriprise Financial were worth $485,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Wingate Wealth Advisors Inc. acquired a new stake in shares of Ameriprise Financial in the fourth quarter worth $30,000. Oakworth Capital Inc. purchased a new stake in Ameriprise Financial during the 3rd quarter worth $31,000. Sound Income Strategies LLC acquired a new stake in Ameriprise Financial in the 4th quarter valued at $36,000. Golden State Wealth Management LLC purchased a new position in Ameriprise Financial in the fourth quarter valued at about $38,000. Finally, Peterson Financial Group Inc. acquired a new position in shares of Ameriprise Financial during the third quarter worth about $45,000. 83.95% of the stock is owned by institutional investors and hedge funds.

Ameriprise Financial Stock Down 0.1 %

Shares of 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 business has a 50-day moving average price of $543.42 and a 200 day moving average price of $503.37. Ameriprise Financial, Inc. has a fifty-two week low of $385.74 and a fifty-two week high of $582.05. The firm has a market cap of $51.29 billion, a P/E ratio of 15.99, a P/E/G ratio of 1.18 and a beta of 1.36.

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

Ameriprise Financial Dividend Announcement

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

Analyst Upgrades and Downgrades

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

Insiders Place Their Bets

In other Ameriprise Financial news, CEO William F. Truscott sold 6,000 shares of the business’s stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $540.29, for a total transaction of $3,241,740.00. Following the completion of the transaction, the chief executive officer now directly owns 14,023 shares of the company’s stock, valued at $7,576,486.67. The trade was a 29.97 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.73% of the stock is currently owned by corporate insiders.

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.