Lee Danner & Bass Inc. Takes $144,000 Position in Ameriprise Financial, Inc. (NYSE:AMP)

Lee Danner & Bass Inc. bought a new stake in Ameriprise Financial, Inc. (NYSE:AMP) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 271 shares of the financial services provider’s stock, valued at approximately $144,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. TCTC Holdings LLC acquired a new position in shares of Ameriprise Financial in the fourth quarter valued at approximately $26,000. Rialto Wealth Management LLC acquired a new position in shares of Ameriprise Financial in the fourth quarter valued at approximately $28,000. Whipplewood Advisors LLC acquired a new position in shares of Ameriprise Financial in the fourth quarter valued at approximately $28,000. Wingate Wealth Advisors Inc. acquired a new position in shares of Ameriprise Financial in the fourth quarter valued at approximately $30,000. Finally, Sound Income Strategies LLC acquired a new position in shares of Ameriprise Financial in the fourth quarter valued at approximately $36,000. Institutional investors and hedge funds own 83.95% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. Keefe, Bruyette & Woods increased their price target on Ameriprise Financial from $560.00 to $570.00 and gave the stock a “market perform” rating in a research report on Monday, February 3rd. Morgan Stanley increased their price target on Ameriprise Financial from $507.00 to $542.00 and gave the stock an “equal weight” rating in a research report on Tuesday, March 4th. Piper Sandler increased their price target on Ameriprise Financial from $415.00 to $442.00 and gave the stock an “underweight” rating in a research report on Friday, January 31st. UBS Group downgraded 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 report on Monday, January 6th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $625.00 price target on shares of Ameriprise Financial in a research report on Monday, February 3rd. One research analyst has rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $514.89.

Insider Activity

In other news, insider Joseph Edward Sweeney sold 4,636 shares of the stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $539.07, for a total value of $2,499,128.52. Following the completion of the transaction, the insider now directly owns 7,237 shares in the company, valued at approximately $3,901,249.59. This represents a 39.05 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO William F. Truscott sold 6,000 shares of the stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $540.29, for a total value of $3,241,740.00. Following the completion of the transaction, the chief executive officer now owns 14,023 shares of the company’s stock, valued at $7,576,486.67. The trade was a 29.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 11,636 shares of company stock worth $6,263,989. Insiders own 0.73% of the company’s stock.

Ameriprise Financial Stock Up 0.1 %

NYSE AMP opened at $493.41 on Friday. The business has a fifty day moving average price of $528.03 and a two-hundred day moving average price of $520.24. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.59 and a quick ratio of 0.59. Ameriprise Financial, Inc. has a fifty-two week low of $385.74 and a fifty-two week high of $582.05. The stock has a market capitalization of $47.43 billion, a PE ratio of 14.92, a PEG ratio of 1.15 and a beta of 1.33.

Ameriprise Financial (NYSE:AMP) last released its earnings results on Wednesday, January 29th. The financial services provider reported $9.36 earnings per share for the quarter, topping the consensus estimate of $9.16 by $0.20. Ameriprise Financial had a return on equity of 69.35% and a net margin of 19.70%. Equities analysts expect that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current fiscal year.

Ameriprise Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Monday, February 10th were paid a $1.48 dividend. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.20%. The ex-dividend date of this dividend was Monday, February 10th. Ameriprise Financial’s payout ratio is 17.91%.

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.