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

Sequoia Financial Advisors LLC increased its stake in Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 22.3% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor 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 SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Whipplewood Advisors LLC purchased a new position in shares of Ameriprise Financial during the fourth quarter worth approximately $28,000. Rialto Wealth Management LLC purchased a new position in Ameriprise Financial in the 4th quarter worth $28,000. Wingate Wealth Advisors Inc. purchased a new position in Ameriprise Financial in the 4th quarter worth $30,000. Sound Income Strategies LLC bought a new stake in Ameriprise Financial in the fourth quarter worth $36,000. Finally, SRS Capital Advisors Inc. boosted its position in Ameriprise Financial by 40.0% during the fourth quarter. SRS Capital Advisors Inc. now owns 70 shares of the financial services provider's stock valued at $37,000 after buying an additional 20 shares during the period. Institutional investors own 83.95% of the company's stock.

Ameriprise Financial Trading Up 1.4 %

NYSE AMP traded up $6.69 during trading on Monday, hitting $492.52. The company had a trading volume of 573,594 shares, compared to its average volume of 548,836. The company's fifty day moving average is $531.56 and its 200-day moving average is $519.64. The company has a market cap of $47.34 billion, a price-to-earnings ratio of 14.90, a price-to-earnings-growth ratio of 1.15 and a beta of 1.33. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 1.01. Ameriprise Financial, Inc. has a one year low of $385.74 and a one year high of $582.05.

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Ameriprise Financial (NYSE:AMP - Get Free Report) 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, sell-side analysts predict that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current year.

Ameriprise Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Monday, February 10th were given a dividend of $1.48 per share. The ex-dividend date was Monday, February 10th. This represents a $5.92 annualized dividend and a dividend yield of 1.20%. Ameriprise Financial's dividend payout ratio is presently 17.91%.

Insider Buying and Selling

In other news, CEO William F. Truscott sold 6,000 shares of Ameriprise Financial stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $540.29, for a total transaction 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 trade represents a 29.97 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Joseph Edward Sweeney sold 4,636 shares of the company's stock in a transaction that occurred 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 sale, the insider now owns 7,237 shares in the company, valued at $3,901,249.59. The trade was a 39.05 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 11,636 shares of company stock valued at $6,263,989 over the last ninety days. Company insiders own 0.73% of the company's stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on AMP. UBS Group lowered Ameriprise Financial from a "buy" rating to a "neutral" rating and lowered their target price for the company from $580.00 to $570.00 in a research note on Monday, January 6th. Keefe, Bruyette & Woods boosted their price objective on Ameriprise Financial from $560.00 to $570.00 and gave the company a "market perform" rating in a research report on Monday, February 3rd. Royal Bank of Canada restated an "outperform" rating and issued a $625.00 target price on shares of Ameriprise Financial in a report on Monday, February 3rd. Morgan Stanley upped their price target on shares of Ameriprise Financial from $507.00 to $542.00 and gave the company an "equal weight" rating in a report on Tuesday, March 4th. Finally, Piper Sandler raised their price target on shares of Ameriprise Financial from $415.00 to $442.00 and gave the stock an "underweight" rating in a report on Friday, January 31st. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $514.89.

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.