Ameriprise Financial, Inc. (NYSE:AMP) Shares Acquired by Commonwealth Equity Services LLC

Commonwealth Equity Services LLC boosted its holdings in Ameriprise Financial, Inc. (NYSE:AMP) by 5.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 45,879 shares of the financial services provider’s stock after acquiring an additional 2,564 shares during the period. Commonwealth Equity Services LLC’s holdings in Ameriprise Financial were worth $24,427,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. HBK Sorce Advisory LLC grew its holdings in shares of Ameriprise Financial by 9.8% during the 4th quarter. HBK Sorce Advisory LLC now owns 942 shares of the financial services provider’s stock worth $502,000 after purchasing an additional 84 shares during the period. Avantax Advisory Services Inc. increased its position in shares of Ameriprise Financial by 6.1% during the fourth quarter. Avantax Advisory Services Inc. now owns 2,421 shares of the financial services provider’s stock valued at $1,289,000 after acquiring an additional 139 shares during the last quarter. Great Lakes Advisors LLC raised its stake in shares of Ameriprise Financial by 2.6% in the 4th quarter. Great Lakes Advisors LLC now owns 7,790 shares of the financial services provider’s stock valued at $4,148,000 after acquiring an additional 198 shares during the period. Hopwood Financial Services Inc. acquired a new position in shares of Ameriprise Financial in the 4th quarter worth approximately $88,000. Finally, Sequoia Financial Advisors LLC boosted its position in shares of Ameriprise Financial by 22.3% during the 4th quarter. Sequoia Financial Advisors LLC now owns 6,729 shares of the financial services provider’s stock worth $3,583,000 after purchasing an additional 1,226 shares during the period. Institutional investors and hedge funds own 83.95% of the company’s stock.

Analysts Set New Price Targets

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

Ameriprise Financial Trading Up 2.9 %

AMP opened at $485.94 on Monday. The business’s 50-day simple moving average is $531.56 and its 200-day simple moving average is $519.64. The company has a market cap of $46.71 billion, a P/E ratio of 14.70, a PEG ratio of 1.15 and a beta of 1.33. Ameriprise Financial, Inc. has a one year low of $385.74 and a one year high of $582.05. 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 (NYSE:AMP) last released its quarterly earnings data on Wednesday, January 29th. The financial services provider reported $9.36 earnings per share for the quarter, topping analysts’ consensus estimates 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 expect that Ameriprise Financial, Inc. will post 38.64 EPS for the current fiscal year.

Ameriprise Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Monday, February 10th were paid a dividend of $1.48 per share. The ex-dividend date of this dividend was Monday, February 10th. This represents a $5.92 dividend on an annualized basis and a yield of 1.22%. Ameriprise Financial’s dividend payout ratio is presently 17.91%.

Insiders Place Their Bets

In related news, Director Robert Francis Sharpe, Jr. sold 1,000 shares of the firm’s stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $523.12, for a total transaction of $523,120.00. Following 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 transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Joseph Edward Sweeney sold 4,636 shares of the company’s stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $539.07, for a total value of $2,499,128.52. Following the sale, the insider now directly owns 7,237 shares of the company’s stock, valued at approximately $3,901,249.59. This represents a 39.05 % decrease in their ownership of the stock. 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 quarter. Company insiders own 0.73% of the company’s stock.

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.