Team Hewins LLC Takes Position in Ameriprise Financial, Inc. (NYSE:AMP)

Team Hewins LLC bought a new stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) during the 4th quarter, according to its most recent filing with the SEC. The fund bought 1,380 shares of the financial services provider’s stock, valued at approximately $524,000.

Several other institutional investors have also made changes to their positions in AMP. Turtle Creek Wealth Advisors LLC acquired a new position in Ameriprise Financial in the fourth quarter valued at about $34,000. Wetzel Investment Advisors Inc. bought a new position in shares of Ameriprise Financial in the fourth quarter worth about $34,000. Fortitude Family Office LLC bought a new position in shares of Ameriprise Financial in the fourth quarter worth about $39,000. Pacific Capital Wealth Advisors Inc. bought a new position in shares of Ameriprise Financial in the fourth quarter worth about $51,000. Finally, JFS Wealth Advisors LLC raised its stake in shares of Ameriprise Financial by 52.2% in the fourth quarter. JFS Wealth Advisors LLC now owns 140 shares of the financial services provider’s stock worth $53,000 after acquiring an additional 48 shares during the last quarter. 83.95% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

AMP has been the subject of a number of research analyst reports. Raymond James initiated coverage on shares of Ameriprise Financial in a research note on Thursday, March 21st. They issued a “market perform” rating for the company. Morgan Stanley boosted their target price on shares of Ameriprise Financial from $400.00 to $437.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 9th. Evercore ISI boosted their price target on shares of Ameriprise Financial from $400.00 to $445.00 and gave the stock an “in-line” rating in a research note on Thursday, April 11th. Keefe, Bruyette & Woods boosted their price target on shares of Ameriprise Financial from $420.00 to $460.00 and gave the stock a “market perform” rating in a research note on Wednesday, April 10th. Finally, The Goldman Sachs Group boosted their price target on shares of Ameriprise Financial from $437.00 to $488.00 and gave the stock a “buy” rating in a research note on Wednesday, March 27th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $450.88.

Insiders Place Their Bets

In other Ameriprise Financial news, CEO William F. Truscott sold 8,000 shares of the company’s stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $412.05, for a total transaction of $3,296,400.00. Following the sale, the chief executive officer now directly owns 13,134 shares of the company’s stock, valued at $5,411,864.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Ameriprise Financial news, CEO William F. Truscott sold 8,000 shares of the company’s stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $412.05, for a total transaction of $3,296,400.00. Following the sale, the chief executive officer now directly owns 13,134 shares of the company’s stock, valued at $5,411,864.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Gerard P. Smyth sold 4,440 shares of the stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $407.92, for a total transaction of $1,811,164.80. Following the completion of the transaction, the executive vice president now directly owns 3,787 shares in the company, valued at $1,544,793.04. The disclosure for this sale can be found here. Over the last three months, insiders have sold 20,816 shares of company stock valued at $8,626,989. 0.73% of the stock is currently owned by corporate insiders.

Ameriprise Financial Stock Up 1.4 %

AMP traded up $6.08 during trading hours on Friday, hitting $440.23. 204,107 shares of the company’s stock were exchanged, compared to its average volume of 480,914. Ameriprise Financial, Inc. has a 1-year low of $292.65 and a 1-year high of $442.09. The stock’s 50-day moving average is $425.99 and its two-hundred day moving average is $394.89. The stock has a market cap of $43.72 billion, a price-to-earnings ratio of 14.78, a PEG ratio of 0.75 and a beta of 1.35. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 1.13.

Ameriprise Financial (NYSE:AMP) last announced its earnings results on Wednesday, April 24th. The financial services provider reported $8.39 EPS for the quarter, topping the consensus estimate 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 analysts’ expectations of $4.15 billion. During the same quarter in the prior year, the company posted $7.25 earnings per share. The firm’s revenue was up 10.8% on a year-over-year basis. Sell-side analysts predict that Ameriprise Financial, Inc. will post 34.93 earnings per share for the current fiscal year.

Ameriprise Financial Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 17th. Shareholders of record on Monday, May 6th were given a dividend of $1.48 per share. This is a positive change from Ameriprise Financial’s previous quarterly dividend of $1.35. This represents a $5.92 annualized dividend and a yield of 1.34%. The ex-dividend date was Friday, May 3rd. Ameriprise Financial’s dividend payout ratio is 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.