Sei Investments Co. Buys 8,052 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

Sei Investments Co. grew its holdings in Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 3.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 245,167 shares of the financial services provider's stock after acquiring an additional 8,052 shares during the period. Sei Investments Co. owned about 0.25% of Ameriprise Financial worth $130,531,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. JPMorgan Chase & Co. lifted its position in shares of Ameriprise Financial by 9.1% during the third quarter. JPMorgan Chase & Co. now owns 4,285,476 shares of the financial services provider's stock worth $2,013,359,000 after purchasing an additional 358,699 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Ameriprise Financial by 1.2% in the 3rd quarter. Geode Capital Management LLC now owns 2,609,486 shares of the financial services provider's stock worth $1,222,943,000 after buying an additional 31,158 shares in the last quarter. Amundi lifted its holdings in Ameriprise Financial by 48.0% in the 4th quarter. Amundi now owns 642,226 shares of the financial services provider's stock worth $343,546,000 after buying an additional 208,195 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in Ameriprise Financial by 0.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 602,317 shares of the financial services provider's stock valued at $320,692,000 after buying an additional 5,048 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. raised its position in shares of Ameriprise Financial by 429.0% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 417,149 shares of the financial services provider's stock valued at $222,103,000 after purchasing an additional 338,298 shares in the last quarter. Hedge funds and other institutional investors own 83.95% of the company's stock.

Remove Ads

Analyst Upgrades and Downgrades

AMP has been the topic of a number of research analyst reports. Keefe, Bruyette & Woods increased 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 lowered Ameriprise Financial from a "buy" rating to a "neutral" rating and lowered their price objective for the company from $580.00 to $570.00 in a report on Monday, January 6th. Morgan Stanley increased their target price on Ameriprise Financial from $507.00 to $542.00 and gave the stock an "equal weight" rating in a report on Tuesday, March 4th. Royal Bank of Canada reiterated an "outperform" rating and issued a $625.00 price target on shares of Ameriprise Financial in a report on Monday, February 3rd. Finally, Piper Sandler raised their price objective on Ameriprise Financial from $415.00 to $442.00 and gave the stock an "underweight" rating in a research note on Friday, January 31st. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $514.89.

Ameriprise Financial Stock Performance

Shares of Ameriprise Financial stock traded down $5.42 during trading on Wednesday, reaching $505.15. The company's stock had a trading volume of 348,165 shares, compared to its average volume of 458,520. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.59 and a current ratio of 0.59. Ameriprise Financial, Inc. has a one year low of $385.74 and a one year high of $582.05. The business's fifty day moving average price is $527.56 and its 200-day moving average price is $522.40. The firm has a market cap of $48.55 billion, a price-to-earnings ratio of 15.28, a price-to-earnings-growth ratio of 1.15 and a beta of 1.33.

Ameriprise Financial (NYSE:AMP - Get Free Report) last posted 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 net margin of 19.70% and a return on equity of 69.35%. As a group, equities research analysts predict that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current year.

Ameriprise Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Monday, February 10th were given a dividend of $1.48 per share. This represents a $5.92 annualized dividend and a dividend yield of 1.17%. The ex-dividend date of this dividend was Monday, February 10th. Ameriprise Financial's dividend payout ratio is 17.91%.

Insider Buying and Selling at Ameriprise Financial

In other Ameriprise Financial news, CEO William F. Truscott sold 6,000 shares of the business's stock in a transaction dated Thursday, February 6th. The stock was 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 of the company's stock, valued at approximately $7,576,486.67. The trade was a 29.97 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Robert Francis Sharpe, Jr. sold 1,000 shares of the company's stock in a transaction that occurred on Wednesday, February 12th. The shares were 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 position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 11,636 shares of company stock valued at $6,263,989. 0.96% of the stock is currently owned by company insiders.

Ameriprise Financial 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.