Sanctuary Advisors LLC Has $8.97 Million Stake in Ameriprise Financial, Inc. (NYSE:AMP)

Sanctuary Advisors LLC increased its position in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 0.5% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 16,374 shares of the financial services provider’s stock after purchasing an additional 88 shares during the period. Sanctuary Advisors LLC’s holdings in Ameriprise Financial were worth $8,970,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in AMP. Exchange Traded Concepts LLC acquired a new position in Ameriprise Financial during the third quarter worth $108,000. Creative Planning increased its holdings in Ameriprise Financial by 1.6% during the third quarter. Creative Planning now owns 22,571 shares of the financial services provider’s stock worth $10,604,000 after buying an additional 348 shares during the last quarter. Howard Capital Management Group LLC increased its holdings in Ameriprise Financial by 11.1% during the third quarter. Howard Capital Management Group LLC now owns 1,787 shares of the financial services provider’s stock worth $840,000 after buying an additional 178 shares during the last quarter. Raymond James & Associates increased its holdings in Ameriprise Financial by 3.1% during the third quarter. Raymond James & Associates now owns 159,215 shares of the financial services provider’s stock worth $74,801,000 after buying an additional 4,859 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC increased its holdings in Ameriprise Financial by 83.5% during the third quarter. Allspring Global Investments Holdings LLC now owns 70,364 shares of the financial services provider’s stock worth $33,058,000 after buying an additional 32,025 shares during the last quarter. 83.95% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

AMP has been the topic of several research reports. UBS Group downgraded shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $580.00 to $570.00 in a report on Monday, January 6th. Piper Sandler upped their price objective on shares of Ameriprise Financial from $415.00 to $442.00 and gave the company an “underweight” rating in a report on Friday, January 31st. Keefe, Bruyette & Woods upped their price objective on shares of Ameriprise Financial from $560.00 to $570.00 and gave the company a “market perform” rating in a report on Monday, February 3rd. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $625.00 price objective on shares of Ameriprise Financial in a report on Monday, February 3rd. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $510.44.

Ameriprise Financial Trading Up 0.1 %

AMP stock opened at $546.48 on Wednesday. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.65 and a current ratio of 0.59. The company’s 50-day simple moving average is $541.06 and its 200 day simple moving average is $507.16. Ameriprise Financial, Inc. has a 52 week low of $385.74 and a 52 week high of $582.05. The company has a market capitalization of $53.01 billion, a PE ratio of 16.53, a price-to-earnings-growth ratio of 1.18 and a beta of 1.36.

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%. As a group, sell-side analysts anticipate that Ameriprise Financial, Inc. will post 38.55 earnings per share for the current year.

Ameriprise Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Monday, February 10th will be given a dividend of $1.48 per share. The ex-dividend date of this dividend is Monday, February 10th. This represents a $5.92 annualized dividend and a yield of 1.08%. Ameriprise Financial’s dividend payout ratio is 17.91%.

Insider Buying and Selling

In other news, Director Robert Francis Sharpe, Jr. sold 1,000 shares of the stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $523.12, for a total value of $523,120.00. Following the completion of the transaction, the director now owns 10,000 shares of the company’s stock, valued at approximately $5,231,200. This represents a 9.09 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO William F. Truscott sold 6,000 shares of the stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $540.29, for a total transaction of $3,241,740.00. Following the completion of the transaction, 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. 0.73% of the stock is currently owned by company insiders.

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.