Ameriprise Financial, Inc. (NYSE:AMP) Shares Purchased by Sequoia Financial Advisors LLC

Sequoia Financial Advisors LLC grew its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 55.0% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,503 shares of the financial services provider’s stock after purchasing an additional 1,952 shares during the period. Sequoia Financial Advisors LLC’s holdings in Ameriprise Financial were worth $2,586,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Empirical Finance LLC increased its position in Ameriprise Financial by 3.0% during the 1st quarter. Empirical Finance LLC now owns 3,896 shares of the financial services provider’s stock worth $1,708,000 after purchasing an additional 113 shares during the period. State Board of Administration of Florida Retirement System increased its position in Ameriprise Financial by 7.9% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 118,211 shares of the financial services provider’s stock worth $51,828,000 after purchasing an additional 8,693 shares during the period. BDF Gestion acquired a new position in Ameriprise Financial during the 2nd quarter worth approximately $2,836,000. Janney Montgomery Scott LLC increased its position in Ameriprise Financial by 12.8% during the 1st quarter. Janney Montgomery Scott LLC now owns 18,797 shares of the financial services provider’s stock worth $8,242,000 after purchasing an additional 2,139 shares during the period. Finally, Susquehanna Fundamental Investments LLC acquired a new position in Ameriprise Financial during the 1st quarter worth approximately $570,000. Institutional investors and hedge funds own 83.95% of the company’s stock.

Analyst Ratings Changes

Several research firms have issued reports on AMP. Piper Sandler dropped their target price on Ameriprise Financial from $390.00 to $387.00 and set an “underweight” rating on the stock in a research report on Friday, June 28th. Keefe, Bruyette & Woods upgraded Ameriprise Financial from a “hold” rating to a “strong-buy” rating in a report on Thursday, October 10th. Morgan Stanley upped their price target on Ameriprise Financial from $440.00 to $502.00 and gave the stock an “equal weight” rating in a report on Thursday, October 17th. Jefferies Financial Group upped their price target on Ameriprise Financial from $500.00 to $504.00 and gave the stock a “buy” rating in a report on Friday, June 28th. Finally, The Goldman Sachs Group cut Ameriprise Financial from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $485.00 to $476.00 in a report on Thursday, September 26th. One analyst has rated the stock with a sell rating, five have given a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $480.44.

Ameriprise Financial Price Performance

AMP stock opened at $520.47 on Thursday. Ameriprise Financial, Inc. has a 1 year low of $306.63 and a 1 year high of $524.89. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.59 and a current ratio of 0.59. The stock’s 50 day moving average price is $464.19 and its 200 day moving average price is $439.06. The firm has a market cap of $51.70 billion, a P/E ratio of 17.72, a PEG ratio of 0.81 and a beta of 1.35.

Ameriprise Financial (NYSE:AMP) last issued its quarterly earnings results on Wednesday, July 24th. The financial services provider reported $8.72 earnings per share for the quarter, topping analysts’ consensus estimates of $8.53 by $0.19. Ameriprise Financial had a return on equity of 73.83% and a net margin of 18.64%. The company had revenue of $4.39 billion for the quarter, compared to analyst estimates of $4.24 billion. During the same quarter in the prior year, the company posted $7.44 EPS. The business’s revenue for the quarter was up 9.6% compared to the same quarter last year. On average, sell-side analysts expect that Ameriprise Financial, Inc. will post 34.92 earnings per share for the current fiscal year.

Ameriprise Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Monday, November 4th will be paid a dividend of $1.48 per share. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.14%. Ameriprise Financial’s dividend payout ratio is presently 20.15%.

Insiders Place Their Bets

In other Ameriprise Financial news, VP William Davies sold 8,700 shares of the stock in a transaction on Friday, August 30th. The stock was sold at an average price of $442.07, for a total transaction of $3,846,009.00. Following the transaction, the vice president now owns 13,199 shares of the company’s stock, valued at $5,834,881.93. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Corporate insiders own 0.73% of the company’s stock.

Ameriprise Financial Company 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.