HBK Sorce Advisory LLC Buys 84 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

HBK Sorce Advisory LLC boosted its stake in Ameriprise Financial, Inc. (NYSE:AMP) by 9.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 942 shares of the financial services provider’s stock after acquiring an additional 84 shares during the quarter. HBK Sorce Advisory LLC’s holdings in Ameriprise Financial were worth $502,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the stock. Avantax Advisory Services Inc. lifted its position in Ameriprise Financial by 6.1% in the 4th 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 in the last quarter. Great Lakes Advisors LLC lifted its position in Ameriprise Financial by 2.6% during the 4th quarter. Great Lakes Advisors LLC now owns 7,790 shares of the financial services provider’s stock worth $4,148,000 after buying an additional 198 shares in the last quarter. Hopwood Financial Services Inc. bought a new stake in Ameriprise Financial during the 4th quarter worth about $88,000. Sequoia Financial Advisors LLC lifted its position in 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 buying an additional 1,226 shares in the last quarter. Finally, HighTower Advisors LLC lifted its position in Ameriprise Financial by 3.5% during the 4th quarter. HighTower Advisors LLC now owns 44,906 shares of the financial services provider’s stock worth $23,909,000 after buying an additional 1,532 shares in the last quarter. 83.95% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

AMP has been the topic of several analyst reports. Keefe, Bruyette & Woods boosted 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. Royal Bank of Canada reissued an “outperform” rating and set a $625.00 price target on shares of Ameriprise Financial in a research report on Monday, February 3rd. UBS Group cut shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and cut their price target for the stock from $580.00 to $570.00 in a research report on Monday, January 6th. Piper Sandler upped their target price 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. Finally, Morgan Stanley upped their target price on shares of Ameriprise Financial from $507.00 to $542.00 and gave the company an “equal weight” rating in a report on Tuesday, March 4th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $514.89.

Ameriprise Financial Stock Up 2.9 %

Shares of AMP opened at $485.94 on Friday. Ameriprise Financial, Inc. has a 52 week low of $385.74 and a 52 week high of $582.05. The firm has a market cap of $46.71 billion, a P/E ratio of 14.70, a price-to-earnings-growth ratio of 1.15 and a beta of 1.33. The firm’s 50-day simple moving average is $531.56 and its 200 day simple moving average is $518.53. 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 announced its quarterly earnings results on Wednesday, January 29th. The financial services provider reported $9.36 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%. On average, analysts forecast that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current year.

Ameriprise Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Monday, February 10th were paid a $1.48 dividend. 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 (DPR) is currently 17.91%.

Insider Activity at Ameriprise Financial

In other news, insider Joseph Edward Sweeney sold 4,636 shares of the firm’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 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 trade represents a 39.05 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO William F. Truscott sold 6,000 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 14,023 shares in the company, valued at $7,576,486.67. This represents a 29.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 11,636 shares of company stock worth $6,263,989. Insiders own 0.73% of the company’s stock.

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.