Summit Trail Advisors LLC Has $203,000 Holdings in Ameriprise Financial, Inc. (NYSE:AMP)

Summit Trail Advisors LLC decreased its stake in Ameriprise Financial, Inc. (NYSE:AMP) by 24.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 535 shares of the financial services provider’s stock after selling 175 shares during the quarter. Summit Trail Advisors LLC’s holdings in Ameriprise Financial were worth $203,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the stock. OFI Invest Asset Management bought a new position in shares of Ameriprise Financial during the third quarter valued at $25,000. Turtle Creek Wealth Advisors LLC bought a new position in Ameriprise Financial during the 4th quarter valued at about $34,000. Carmel Capital Partners LLC acquired a new position in Ameriprise Financial in the third quarter valued at about $30,000. Wetzel Investment Advisors Inc. bought a new stake in Ameriprise Financial during the fourth quarter worth about $34,000. Finally, Fortitude Family Office LLC acquired a new stake in shares of Ameriprise Financial during the fourth quarter worth approximately $39,000. Institutional investors and hedge funds own 83.95% of the company’s stock.

Wall Street Analysts Forecast Growth

AMP has been the topic of several recent analyst reports. Evercore ISI boosted their target price on Ameriprise Financial from $400.00 to $445.00 and gave the stock an “in-line” rating in a report on Thursday, April 11th. Morgan Stanley increased their target price on Ameriprise Financial from $400.00 to $437.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 9th. Keefe, Bruyette & Woods raised their target price on Ameriprise Financial from $420.00 to $460.00 and gave the company a “market perform” rating in a research note on Wednesday, April 10th. Piper Sandler upped their price target on shares of Ameriprise Financial from $360.00 to $392.00 and gave the stock an “underweight” rating in a research report on Friday, April 5th. Finally, Raymond James began coverage on shares of Ameriprise Financial in a research report on Thursday, March 21st. They issued a “market perform” rating for the company. One investment analyst has rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, Ameriprise Financial presently has an average rating of “Hold” and a consensus price target of $450.88.

Insiders Place Their Bets

In other Ameriprise Financial news, insider Gumer Alvero sold 1,652 shares of Ameriprise Financial stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $437.00, for a total transaction of $721,924.00. Following the completion of the sale, the insider now owns 6,994 shares of the company’s stock, valued at approximately $3,056,378. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Gumer Alvero sold 1,652 shares of Ameriprise Financial stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $437.00, for a total transaction of $721,924.00. Following the transaction, the insider now directly owns 6,994 shares of the company’s stock, valued at $3,056,378. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP Dawn M. Brockman sold 224 shares of Ameriprise Financial stock in a transaction on Tuesday, March 26th. The stock was sold at an average price of $434.13, for a total transaction of $97,245.12. Following the transaction, the senior vice president now directly owns 1,288 shares in the company, valued at $559,159.44. The disclosure for this sale can be found here. In the last 90 days, insiders sold 56,980 shares of company stock valued at $23,053,480. Company insiders own 0.96% of the company’s stock.

Ameriprise Financial Stock Performance

Shares of Ameriprise Financial stock opened at $425.94 on Thursday. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.56 and a quick ratio of 0.56. The firm has a market cap of $42.67 billion, a P/E ratio of 14.50, a P/E/G ratio of 0.71 and a beta of 1.35. The firm has a 50 day simple moving average of $420.85 and a 200 day simple moving average of $386.14. Ameriprise Financial, Inc. has a fifty-two week low of $286.58 and a fifty-two week high of $440.67.

Ameriprise Financial (NYSE:AMP) last issued its quarterly earnings results on Wednesday, April 24th. The financial services provider reported $8.39 earnings per share for the quarter, beating analysts’ consensus estimates of $8.10 by $0.29. Ameriprise Financial had a net margin of 19.42% and a return on equity of 75.97%. The business had revenue of $4.15 billion during the quarter, compared to analyst estimates of $4.15 billion. During the same quarter last year, the business posted $7.25 earnings per share. Ameriprise Financial’s revenue for the quarter was up 10.8% compared to the same quarter last year. Sell-side analysts predict that Ameriprise Financial, Inc. will post 34.74 earnings per share for the current fiscal year.

Ameriprise Financial Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 17th. Shareholders of record on Monday, May 6th will be issued a dividend of $1.48 per share. This represents a $5.92 dividend on an annualized basis and a yield of 1.39%. The ex-dividend date is Friday, May 3rd. This is a positive change from Ameriprise Financial’s previous quarterly dividend of $1.35. Ameriprise Financial’s payout ratio is currently 20.15%.

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.