Ameriprise Financial, Inc. (NYSE:AMP) Position Boosted by Avantax Advisory Services Inc.

Avantax Advisory Services Inc. increased its holdings in Ameriprise Financial, Inc. (NYSE:AMP) by 6.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,421 shares of the financial services provider’s stock after purchasing an additional 139 shares during the quarter. Avantax Advisory Services Inc.’s holdings in Ameriprise Financial were worth $1,289,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Great Lakes Advisors LLC increased its holdings in shares of Ameriprise Financial by 2.6% in the fourth quarter. Great Lakes Advisors LLC now owns 7,790 shares of the financial services provider’s stock valued at $4,148,000 after buying an additional 198 shares in the last quarter. Hopwood Financial Services Inc. acquired a new stake in shares of Ameriprise Financial during the fourth quarter worth $88,000. Sequoia Financial Advisors LLC lifted its holdings in shares of Ameriprise Financial by 22.3% during the fourth quarter. Sequoia Financial Advisors LLC now owns 6,729 shares of the financial services provider’s stock valued at $3,583,000 after purchasing an additional 1,226 shares during the last quarter. HighTower Advisors LLC boosted its position in shares of Ameriprise Financial by 3.5% in the 4th quarter. HighTower Advisors LLC now owns 44,906 shares of the financial services provider’s stock valued at $23,909,000 after purchasing an additional 1,532 shares during the period. Finally, Natural Investments LLC purchased a new position in Ameriprise Financial in the 4th quarter worth about $272,000. 83.95% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Ameriprise Financial Price Performance

Shares of AMP opened at $489.01 on Wednesday. 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 $47.00 billion, a PE ratio of 14.79, a PEG ratio of 1.15 and a beta of 1.33. The firm’s 50 day moving average price is $530.03 and its 200 day moving average price is $520.27. Ameriprise Financial, Inc. has a twelve month low of $385.74 and a twelve month high of $582.05.

Ameriprise Financial (NYSE:AMP) last released its quarterly earnings results on Wednesday, January 29th. The financial services provider reported $9.36 earnings per share for the quarter, beating 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, research analysts expect that Ameriprise Financial, Inc. will post 38.64 EPS for the current fiscal year.

Ameriprise Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, February 28th. Stockholders 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 annualized dividend and a dividend yield of 1.21%. Ameriprise Financial’s dividend payout ratio (DPR) is presently 17.91%.

Insider Activity at Ameriprise Financial

In related news, CEO William F. Truscott sold 6,000 shares of the firm’s stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $540.29, for a total value of $3,241,740.00. Following 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 position. 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 business’s stock in a transaction on Wednesday, February 19th. The stock was 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 of the company’s stock, valued at approximately $3,901,249.59. This represents a 39.05 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 11,636 shares of company stock valued at $6,263,989. Corporate 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.