Sovran Advisors LLC Trims Stock Position in Ameriprise Financial, Inc. $AMP

Key Points

• Sovran Advisors LLC significantly reduced its stake in Ameriprise Financial by 68.9% during the second quarter, leaving it with 1,746 shares valued at roughly $936,000.
• Multiple hedge funds have made changes to their positions in Ameriprise Financial, with Tidal Investments LLC increasing its holdings by 53.3%, now owning 4,954 shares valued at about $2.6 million.
• Ameriprise Financial's CEO William F. Truscott sold almost 10,000 shares at an average price of $506.89, resulting in a 47.34% decrease in his stock ownership.

Sovran Advisors LLC decreased its position in shares of Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 68.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,746 shares of the financial services provider's stock after selling 3,861 shares during the quarter. Sovran Advisors LLC's holdings in Ameriprise Financial were worth $936,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Brighton Jones LLC increased its stake in Ameriprise Financial by 6.9% during the fourth quarter. Brighton Jones LLC now owns 777 shares of the financial services provider's stock worth $413,000 after purchasing an additional 50 shares during the period. Group One Trading LLC raised its position in Ameriprise Financial by 178.0% in the fourth quarter. Group One Trading LLC now owns 278 shares of the financial services provider's stock worth $148,000 after acquiring an additional 178 shares in the last quarter. Tidal Investments LLC raised its position in Ameriprise Financial by 53.3% in the fourth quarter. Tidal Investments LLC now owns 4,954 shares of the financial services provider's stock worth $2,638,000 after acquiring an additional 1,722 shares in the last quarter. Waverly Advisors LLC increased its position in shares of Ameriprise Financial by 29.9% in the fourth quarter. Waverly Advisors LLC now owns 1,480 shares of the financial services provider's stock valued at $788,000 after buying an additional 341 shares in the last quarter. Finally, Focus Partners Advisor Solutions LLC boosted its stake in shares of Ameriprise Financial by 112.3% during the fourth quarter. Focus Partners Advisor Solutions LLC now owns 1,637 shares of the financial services provider's stock valued at $872,000 after acquiring an additional 866 shares during the last quarter. 83.95% of the stock is currently owned by hedge funds and other institutional investors.

Ameriprise Financial Price Performance

NYSE AMP traded down $3.24 on Friday, hitting $488.15. 1,500,973 shares of the company's stock were exchanged, compared to its average volume of 449,686. The stock has a 50-day moving average of $510.69 and a 200-day moving average of $501.81. The stock has a market cap of $46.02 billion, a price-to-earnings ratio of 15.19, a P/E/G ratio of 1.05 and a beta of 1.27. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 0.95. Ameriprise Financial, Inc. has a 52 week low of $396.14 and a 52 week high of $582.05.

Ameriprise Financial (NYSE:AMP - Get Free Report) last posted its quarterly earnings data on Thursday, July 24th. The financial services provider reported $9.11 earnings per share for the quarter, beating analysts' consensus estimates of $9.00 by $0.11. Ameriprise Financial had a return on equity of 65.90% and a net margin of 18.30%.The business had revenue of $4.49 billion during the quarter, compared to the consensus estimate of $4.33 billion. During the same period in the prior year, the business posted $8.72 earnings per share. Ameriprise Financial's quarterly revenue was up 2.2% on a year-over-year basis. Analysts expect that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current year.

Ameriprise Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 18th. Investors of record on Monday, August 4th were paid a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date was Monday, August 4th. Ameriprise Financial's payout ratio is currently 19.91%.

Analyst Ratings Changes

AMP has been the topic of several research analyst reports. Piper Sandler lifted their price objective on Ameriprise Financial from $423.00 to $434.00 and gave the company an "underweight" rating in a research note on Thursday, July 3rd. Wall Street Zen upgraded Ameriprise Financial from a "sell" rating to a "hold" rating in a research report on Friday, May 30th. William Blair lowered Ameriprise Financial from an "outperform" rating to a "market perform" rating in a research report on Friday, July 25th. Raymond James Financial increased their target price on Ameriprise Financial from $518.00 to $582.00 and gave the company a "strong-buy" rating in a research note on Friday, July 25th. Finally, Royal Bank Of Canada upped their price target on Ameriprise Financial from $595.00 to $601.00 and gave the company an "outperform" rating in a report on Wednesday, July 30th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, four have given a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $534.71.

Insider Buying and Selling at Ameriprise Financial

In other news, EVP Heather J. Melloh sold 1,500 shares of Ameriprise Financial stock in a transaction on Thursday, September 4th. The shares were sold at an average price of $512.34, for a total transaction of $768,510.00. Following the completion of the sale, the executive vice president directly owned 2,562 shares of the company's stock, valued at approximately $1,312,615.08. The trade was a 36.93% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO William F. Truscott sold 9,929 shares of the business's stock in a transaction dated Tuesday, August 19th. The shares were sold at an average price of $506.89, for a total transaction of $5,032,910.81. Following the completion of the transaction, the chief executive officer owned 11,047 shares in the company, valued at $5,599,613.83. The trade was a 47.34% decrease in their position. The disclosure for this sale can be found here. 0.73% of the stock is owned by company insiders.

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.