Sequoia Financial Advisors LLC Purchases 1,226 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

Sequoia Financial Advisors LLC increased its position in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 22.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 6,729 shares of the financial services provider’s stock after acquiring an additional 1,226 shares during the period. Sequoia Financial Advisors LLC’s holdings in Ameriprise Financial were worth $3,583,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of AMP. Whipplewood Advisors LLC purchased a new position in Ameriprise Financial in the 4th quarter worth approximately $28,000. Rialto Wealth Management LLC purchased a new position in Ameriprise Financial in the 4th quarter worth approximately $28,000. Wingate Wealth Advisors Inc. purchased a new position in Ameriprise Financial in the 4th quarter worth approximately $30,000. Sound Income Strategies LLC purchased a new position in Ameriprise Financial in the 4th quarter worth approximately $36,000. Finally, SRS Capital Advisors Inc. boosted its stake in shares of Ameriprise Financial by 40.0% in the 4th quarter. SRS Capital Advisors Inc. now owns 70 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 20 shares in the last quarter. Institutional investors own 83.95% of the company’s stock.

Ameriprise Financial Trading Down 1.8 %

Shares of AMP opened at $471.88 on Friday. The stock has a market capitalization of $45.36 billion, a P/E ratio of 14.27, a PEG ratio of 1.15 and a beta of 1.33. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 1.01. The firm has a fifty day simple moving average of $532.56 and a two-hundred day simple moving average of $518.22. Ameriprise Financial, Inc. has a twelve month low of $385.74 and a twelve month high of $582.05.

Ameriprise Financial (NYSE:AMP) last issued its quarterly earnings data on Wednesday, January 29th. The financial services provider reported $9.36 EPS for the quarter, topping the consensus estimate of $9.16 by $0.20. Ameriprise Financial had a net margin of 19.70% and a return on equity of 69.35%. On average, research analysts anticipate that Ameriprise Financial, Inc. will post 38.64 EPS for the current year.

Ameriprise Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Monday, February 10th were issued a $1.48 dividend. The ex-dividend date was Monday, February 10th. This represents a $5.92 annualized dividend and a yield of 1.25%. Ameriprise Financial’s dividend payout ratio (DPR) is presently 17.91%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on AMP. Morgan Stanley upped their price objective on shares of Ameriprise Financial from $507.00 to $542.00 and gave the company an “equal weight” rating in a research note on Tuesday, March 4th. Piper Sandler upped their price objective on shares of Ameriprise Financial from $415.00 to $442.00 and gave the company an “underweight” rating in a research note on Friday, January 31st. Keefe, Bruyette & Woods upped their price objective on shares of Ameriprise Financial from $560.00 to $570.00 and gave the company a “market perform” rating in a research note on Monday, February 3rd. UBS Group cut shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and cut their price objective for the company from $580.00 to $570.00 in a research note on Monday, January 6th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $625.00 price objective on shares of Ameriprise Financial in a research note on Monday, February 3rd. One analyst has rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $514.89.

Insiders Place Their Bets

In other Ameriprise Financial news, CEO William F. Truscott sold 6,000 shares of the company’s 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 directly owns 14,023 shares in the company, valued at approximately $7,576,486.67. This represents a 29.97 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robert Francis Sharpe, Jr. sold 1,000 shares of the company’s stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $523.12, for a total transaction of $523,120.00. Following the completion of the transaction, the director now owns 10,000 shares of the company’s stock, valued at $5,231,200. This trade represents a 9.09 % 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. 0.73% of the stock is currently owned by corporate 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.