Ameriprise Financial, Inc. (NYSE:AMP) Stake Raised by Sei Investments Co.

Sei Investments Co. grew its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 3.4% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 245,167 shares of the financial services provider’s stock after purchasing an additional 8,052 shares during the quarter. Sei Investments Co.’s holdings in Ameriprise Financial were worth $130,531,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. TCTC Holdings LLC bought a new stake in shares of Ameriprise Financial during the fourth quarter valued at approximately $26,000. Rialto Wealth Management LLC bought a new stake in shares of Ameriprise Financial during the fourth quarter valued at approximately $28,000. Whipplewood Advisors LLC bought a new stake in shares of Ameriprise Financial during the fourth quarter valued at approximately $28,000. Wingate Wealth Advisors Inc. bought a new stake in shares of Ameriprise Financial during the fourth quarter valued at approximately $30,000. Finally, Sound Income Strategies LLC acquired a new position in shares of Ameriprise Financial during the fourth quarter valued at approximately $36,000. Institutional investors own 83.95% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on AMP shares. Royal Bank of Canada reiterated an “outperform” rating and set a $625.00 price objective on shares of Ameriprise Financial in a research note on Monday, February 3rd. Piper Sandler raised their price objective on shares of Ameriprise Financial from $415.00 to $442.00 and gave the company an “underweight” rating in a research note on Friday, January 31st. Keefe, Bruyette & Woods raised 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 shares of 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 research note on Monday, January 6th. Finally, Morgan Stanley raised their price objective on shares of Ameriprise Financial from $507.00 to $542.00 and gave the company an “equal weight” rating in a research note on Tuesday, March 4th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $514.89.

Insiders Place Their Bets

In other Ameriprise Financial news, insider Joseph Edward Sweeney sold 4,636 shares of Ameriprise Financial stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $539.07, for a total transaction of $2,499,128.52. Following the transaction, the insider now directly owns 7,237 shares in the company, valued at approximately $3,901,249.59. The trade was a 39.05 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO William F. Truscott sold 6,000 shares of Ameriprise Financial stock in a transaction 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 sale, the chief executive officer now directly owns 14,023 shares of the company’s stock, valued at $7,576,486.67. This trade represents a 29.97 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 11,636 shares of company stock worth $6,263,989. Corporate insiders own 0.73% of the company’s stock.

Ameriprise Financial Trading Up 0.1 %

Ameriprise Financial stock opened at $493.41 on Friday. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.59 and a current ratio of 0.59. The firm has a market cap of $47.43 billion, a price-to-earnings ratio of 14.92, a price-to-earnings-growth ratio of 1.15 and a beta of 1.33. Ameriprise Financial, Inc. has a 1 year low of $385.74 and a 1 year high of $582.05. The firm’s 50 day moving average price is $528.03 and its two-hundred day moving average price is $520.24.

Ameriprise Financial (NYSE:AMP) last posted its quarterly earnings data 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%. On average, research analysts predict that Ameriprise Financial, Inc. will post 38.64 EPS for the current fiscal year.

Ameriprise Financial Dividend Announcement

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

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.