Sovran Advisors LLC Buys New Stake in Ameriprise Financial, Inc. (NYSE:AMP)

Sovran Advisors LLC acquired a new stake in shares of Ameriprise Financial, Inc. (NYSE:AMP - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 4,891 shares of the financial services provider's stock, valued at approximately $2,576,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Essex Financial Services Inc. increased its stake in Ameriprise Financial by 4.3% during the 4th quarter. Essex Financial Services Inc. now owns 748 shares of the financial services provider's stock valued at $398,000 after purchasing an additional 31 shares in the last quarter. Focus Financial Network Inc. increased its stake in Ameriprise Financial by 2.3% during the 4th quarter. Focus Financial Network Inc. now owns 1,258 shares of the financial services provider's stock valued at $670,000 after purchasing an additional 28 shares in the last quarter. Summit Trail Advisors LLC increased its stake in Ameriprise Financial by 10.4% during the 4th quarter. Summit Trail Advisors LLC now owns 911 shares of the financial services provider's stock valued at $485,000 after purchasing an additional 86 shares in the last quarter. Wingate Wealth Advisors Inc. bought a new stake in shares of Ameriprise Financial in the fourth quarter worth approximately $30,000. Finally, Savant Capital LLC grew its stake in shares of Ameriprise Financial by 0.8% in the fourth quarter. Savant Capital LLC now owns 6,717 shares of the financial services provider's stock worth $3,576,000 after acquiring an additional 54 shares during the period. 83.95% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Ameriprise Financial Stock Performance

NYSE:AMP traded up $6.95 during mid-day trading on Friday, hitting $546.69. 1,097,325 shares of the company traded hands, compared to its average volume of 558,964. 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 stock's fifty day moving average price is $541.49 and its 200-day moving average price is $504.41. The firm has a market cap of $53.03 billion, a price-to-earnings ratio of 16.54, a price-to-earnings-growth ratio of 1.18 and a beta of 1.36. Ameriprise Financial, Inc. has a one year low of $385.74 and a one year high of $582.05.

Ameriprise Financial (NYSE:AMP - Get Free Report) last posted its quarterly earnings data on Wednesday, January 29th. The financial services provider reported $9.36 earnings per share for the quarter, beating analysts' consensus estimates of $9.16 by $0.20. Ameriprise Financial had a return on equity of 69.35% and a net margin of 19.70%. Research analysts anticipate that Ameriprise Financial, Inc. will post 38.55 earnings per share for the current fiscal year.

Ameriprise Financial Dividend Announcement

The company 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. This represents a $5.92 dividend on an annualized basis and a yield of 1.08%. The ex-dividend date is Monday, February 10th. Ameriprise Financial's payout ratio is 17.91%.

Insiders Place Their Bets

In other Ameriprise Financial news, CEO William F. Truscott sold 6,000 shares of the firm's stock in a transaction that occurred on 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 sale, the chief executive officer now 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Robert Francis Sharpe, Jr. sold 1,000 shares of Ameriprise Financial stock in a transaction that occurred on Wednesday, February 12th. The shares were sold at an average price of $523.12, for a total transaction of $523,120.00. Following the sale, the director now owns 10,000 shares in the company, valued at approximately $5,231,200. The trade was a 9.09 % decrease in their position. The disclosure for this sale can be found here. 0.73% of the stock is owned by company insiders.

Ameriprise Financial 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.