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

Sanctuary Advisors LLC increased its position in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 0.5% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 16,374 shares of the financial services provider’s stock after purchasing an additional 88 shares during the quarter. Sanctuary Advisors LLC’s holdings in Ameriprise Financial were worth $8,970,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Wingate Wealth Advisors Inc. acquired a new stake in shares of Ameriprise Financial during the 4th quarter worth about $30,000. Oakworth Capital Inc. acquired a new stake in shares of Ameriprise Financial during the 3rd quarter worth about $31,000. Sound Income Strategies LLC acquired a new stake in shares of Ameriprise Financial during the 4th quarter worth about $36,000. Golden State Wealth Management LLC acquired a new stake in shares of Ameriprise Financial during the 4th quarter worth about $38,000. Finally, Peterson Financial Group Inc. bought a new stake in Ameriprise Financial during the 3rd quarter worth about $45,000. Institutional investors and hedge funds own 83.95% of the company’s stock.

Ameriprise Financial Stock Up 0.1 %

Shares of NYSE AMP opened at $546.48 on Wednesday. The stock has a market cap of $53.01 billion, a P/E ratio of 16.53, a P/E/G ratio of 1.18 and a beta of 1.36. The firm has a 50 day moving average price of $541.06 and a 200 day moving average price of $507.16. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.65 and a current ratio of 0.59. Ameriprise Financial, Inc. has a 52-week low of $385.74 and a 52-week high of $582.05.

Ameriprise Financial (NYSE:AMP) last issued its quarterly earnings data on Wednesday, January 29th. The financial services provider reported $9.36 earnings per share (EPS) 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%. Analysts expect that Ameriprise Financial, Inc. will post 38.55 EPS for the current year.

Ameriprise Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Monday, February 10th will be paid a $1.48 dividend. This represents a $5.92 dividend on an annualized basis and a yield of 1.08%. The ex-dividend date is Monday, February 10th. Ameriprise Financial’s payout ratio is currently 17.91%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. UBS Group lowered shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $580.00 to $570.00 in a report on Monday, January 6th. Keefe, Bruyette & Woods lifted their price target on shares of Ameriprise Financial from $560.00 to $570.00 and gave the stock a “market perform” rating in a research report on Monday, February 3rd. Piper Sandler lifted their price target on shares of Ameriprise Financial from $415.00 to $442.00 and gave the stock an “underweight” rating in a research report on Friday, January 31st. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $625.00 price target on shares of Ameriprise Financial in a research report on Monday, February 3rd. One equities 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 company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $510.44.

Insider Buying and Selling at Ameriprise Financial

In other news, Director Robert Francis Sharpe, Jr. sold 1,000 shares of the business’s stock in a transaction on Wednesday, February 12th. The shares were sold at an average price of $523.12, for a total value of $523,120.00. Following the sale, the director now owns 10,000 shares of the company’s stock, valued at $5,231,200. The trade was a 9.09 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO William F. Truscott sold 6,000 shares of the business’s stock in a transaction on 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 sale, the chief executive officer now directly owns 14,023 shares in the company, valued at approximately $7,576,486.67. This represents a 29.97 % decrease in their position. The disclosure for this sale can be found here. 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.