Sequoia Financial Advisors LLC Grows Position in Ameriprise Financial, Inc. (NYSE:AMP)

Sequoia Financial Advisors LLC boosted its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 151.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,348 shares of the financial services provider’s stock after acquiring an additional 4,426 shares during the period. Sequoia Financial Advisors LLC’s holdings in Ameriprise Financial were worth $2,791,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in AMP. Moneta Group Investment Advisors LLC grew its holdings in Ameriprise Financial by 106,308.4% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 1,587,613 shares of the financial services provider’s stock worth $494,335,000 after acquiring an additional 1,586,121 shares in the last quarter. Norges Bank bought a new stake in shares of Ameriprise Financial in the 4th quarter valued at about $389,527,000. Nuveen Asset Management LLC boosted its holdings in shares of Ameriprise Financial by 29.7% in the 2nd quarter. Nuveen Asset Management LLC now owns 1,673,748 shares of the financial services provider’s stock valued at $555,952,000 after buying an additional 382,811 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of Ameriprise Financial by 123.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 498,824 shares of the financial services provider’s stock valued at $155,318,000 after buying an additional 275,720 shares in the last quarter. Finally, Invesco Ltd. boosted its holdings in shares of Ameriprise Financial by 33.5% in the 1st quarter. Invesco Ltd. now owns 1,078,807 shares of the financial services provider’s stock valued at $324,031,000 after buying an additional 270,755 shares in the last quarter. 83.95% of the stock is currently owned by institutional investors.

Insider Activity

In other news, insider Gumer Alvero sold 1,652 shares of Ameriprise Financial stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of $437.00, for a total transaction of $721,924.00. Following the completion of the transaction, the insider now directly owns 6,994 shares of the company’s stock, valued at approximately $3,056,378. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, insider Gumer Alvero sold 1,652 shares of Ameriprise Financial stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $437.00, for a total value of $721,924.00. Following the sale, the insider now owns 6,994 shares of the company’s stock, valued at approximately $3,056,378. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Dawn M. Brockman sold 224 shares of Ameriprise Financial stock in a transaction on Tuesday, March 26th. The shares were sold at an average price of $434.13, for a total transaction of $97,245.12. Following the completion of the sale, the senior vice president now directly owns 1,288 shares in the company, valued at approximately $559,159.44. The disclosure for this sale can be found here. Insiders sold a total of 89,161 shares of company stock valued at $35,560,647 in the last three months. 0.96% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of analysts have recently weighed in on AMP shares. Royal Bank of Canada raised their price target on shares of Ameriprise Financial from $410.00 to $420.00 and gave the company an “outperform” rating in a report on Monday, January 22nd. UBS Group increased their price objective on shares of Ameriprise Financial from $440.00 to $445.00 and gave the company a “buy” rating in a research report on Thursday, January 25th. Piper Sandler raised their price target on shares of Ameriprise Financial from $360.00 to $392.00 and gave the stock an “underweight” rating in a research report on Friday, April 5th. The Goldman Sachs Group raised their price target on shares of Ameriprise Financial from $437.00 to $488.00 and gave the stock a “buy” rating in a research report on Wednesday, March 27th. Finally, Evercore ISI raised 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 report on Thursday. One analyst has rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $441.00.

Ameriprise Financial Price Performance

NYSE:AMP opened at $422.48 on Friday. The company has a debt-to-equity ratio of 1.17, a current ratio of 0.56 and a quick ratio of 0.56. The firm has a market cap of $42.33 billion, a price-to-earnings ratio of 17.82, a price-to-earnings-growth ratio of 0.72 and a beta of 1.36. The company has a 50 day moving average price of $414.38 and a 200-day moving average price of $374.16. Ameriprise Financial, Inc. has a 1-year low of $279.85 and a 1-year high of $440.67.

Ameriprise Financial (NYSE:AMP) last posted its earnings results on Thursday, January 25th. The financial services provider reported $7.75 earnings per share for the quarter, beating the consensus estimate of $7.67 by $0.08. The firm had revenue of $3.99 billion during the quarter, compared to analyst estimates of $3.90 billion. Ameriprise Financial had a net margin of 16.27% and a return on equity of 77.39%. The business’s quarterly revenue was up 9.0% on a year-over-year basis. During the same period in the previous year, the firm earned $6.94 EPS. Equities research analysts forecast that Ameriprise Financial, Inc. will post 34.46 EPS for the current year.

Ameriprise Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, February 27th. Stockholders of record on Friday, February 9th were issued a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a dividend yield of 1.28%. The ex-dividend date of this dividend was Thursday, February 8th. Ameriprise Financial’s dividend payout ratio (DPR) is 22.78%.

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.