Summit Trail Advisors LLC Has $271,000 Position in Ameriprise Financial, Inc. (NYSE:AMP)

Summit Trail Advisors LLC boosted its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 5.6% in the second quarter, according to its most recent filing with the SEC. The firm owned 636 shares of the financial services provider’s stock after acquiring an additional 34 shares during the period. Summit Trail Advisors LLC’s holdings in Ameriprise Financial were worth $271,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of AMP. JPMorgan Chase & Co. grew its holdings in Ameriprise Financial by 18.6% during the 1st quarter. JPMorgan Chase & Co. now owns 3,844,165 shares of the financial services provider’s stock worth $1,685,436,000 after acquiring an additional 603,267 shares during the period. First Trust Advisors LP grew its holdings in Ameriprise Financial by 1,001.2% during the 4th quarter. First Trust Advisors LP now owns 564,110 shares of the financial services provider’s stock worth $214,266,000 after acquiring an additional 512,884 shares during the period. TD Asset Management Inc grew its holdings in Ameriprise Financial by 151.5% during the 4th quarter. TD Asset Management Inc now owns 595,644 shares of the financial services provider’s stock worth $226,243,000 after acquiring an additional 358,780 shares during the period. Swedbank AB acquired a new position in shares of Ameriprise Financial in the 1st quarter valued at $108,938,000. Finally, Epoch Investment Partners Inc. grew its holdings in shares of Ameriprise Financial by 104.7% in the 4th quarter. Epoch Investment Partners Inc. now owns 382,232 shares of the financial services provider’s stock valued at $145,183,000 after buying an additional 195,475 shares during the period. Institutional investors and hedge funds own 83.95% of the company’s stock.

Insider Activity at Ameriprise Financial

In related news, VP William Davies sold 8,700 shares of the company’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $442.07, for a total value of $3,846,009.00. Following the transaction, the vice president now owns 13,199 shares in the company, valued at approximately $5,834,881.93. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 0.73% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on AMP. Piper Sandler decreased their price target on shares of Ameriprise Financial from $390.00 to $387.00 and set an “underweight” rating for the company in a report on Friday, June 28th. UBS Group decreased their price target on shares of Ameriprise Financial from $500.00 to $495.00 and set a “buy” rating for the company in a report on Tuesday, July 9th. Jefferies Financial Group boosted their price objective on shares of Ameriprise Financial from $500.00 to $504.00 and gave the company a “buy” rating in a research report on Friday, June 28th. Royal Bank of Canada boosted their price objective on shares of Ameriprise Financial from $487.00 to $500.00 and gave the company an “outperform” rating in a research report on Tuesday, July 30th. Finally, Keefe, Bruyette & Woods cut their price objective on shares of Ameriprise Financial from $470.00 to $460.00 and set a “market perform” rating on the stock in a research report on Tuesday, July 30th. One research analyst has rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $464.33.

Ameriprise Financial Stock Up 0.3 %

Shares of AMP stock opened at $463.38 on Wednesday. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.59 and a current ratio of 0.59. The firm’s 50-day moving average is $431.16 and its 200-day moving average is $429.39. The stock has a market cap of $46.03 billion, a price-to-earnings ratio of 15.77, a PEG ratio of 0.75 and a beta of 1.35. Ameriprise Financial, Inc. has a 52-week low of $306.63 and a 52-week high of $465.82.

Ameriprise Financial (NYSE:AMP) last issued its earnings results on Wednesday, July 24th. The financial services provider reported $8.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $8.53 by $0.19. The company had revenue of $4.39 billion for the quarter, compared to analysts’ expectations of $4.24 billion. Ameriprise Financial had a net margin of 18.64% and a return on equity of 73.83%. Ameriprise Financial’s quarterly revenue was up 9.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $7.44 EPS. Sell-side analysts predict that Ameriprise Financial, Inc. will post 34.81 EPS for the current year.

Ameriprise Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 16th. Investors of record on Monday, August 5th were paid a $1.48 dividend. The ex-dividend date of this dividend was Monday, August 5th. This represents a $5.92 dividend on an annualized basis and a yield of 1.28%. Ameriprise Financial’s dividend payout ratio (DPR) is currently 20.15%.

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.