Ameriprise Financial, Inc. (NYSE:AMP) Shares Purchased by Sequoia Financial Advisors LLC

Sequoia Financial Advisors LLC boosted its position in Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 13.9% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,667 shares of the financial services provider's stock after purchasing an additional 938 shares during the period. Sequoia Financial Advisors LLC's holdings in Ameriprise Financial were worth $3,712,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Brighton Jones LLC raised its position in Ameriprise Financial by 6.9% during the fourth quarter. Brighton Jones LLC now owns 777 shares of the financial services provider's stock worth $413,000 after acquiring an additional 50 shares during the last quarter. NewEdge Wealth LLC increased its stake in shares of Ameriprise Financial by 5.2% during the 4th quarter. NewEdge Wealth LLC now owns 3,608 shares of the financial services provider's stock worth $1,921,000 after purchasing an additional 178 shares in the last quarter. Whipplewood Advisors LLC acquired a new position in shares of Ameriprise Financial during the 4th quarter worth approximately $28,000. Cable Hill Partners LLC purchased a new stake in Ameriprise Financial in the 4th quarter valued at approximately $205,000. Finally, Mn Services Vermogensbeheer B.V. grew its holdings in Ameriprise Financial by 2.3% during the 4th quarter. Mn Services Vermogensbeheer B.V. now owns 39,754 shares of the financial services provider's stock valued at $21,166,000 after buying an additional 900 shares during the last quarter. 83.95% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on AMP shares. Morgan Stanley boosted their price target on Ameriprise Financial from $507.00 to $542.00 and gave the stock an "equal weight" rating in a report on Tuesday, March 4th. Raymond James Financial raised shares of Ameriprise Financial from a "market perform" rating to a "strong-buy" rating and set a $518.00 target price for the company in a research note on Monday, April 7th. Keefe, Bruyette & Woods upped their target price on shares of Ameriprise Financial from $510.00 to $520.00 and gave the company a "market perform" rating in a report on Wednesday, May 7th. Royal Bank Of Canada lifted their price target on shares of Ameriprise Financial from $550.00 to $565.00 and gave the stock an "outperform" rating in a report on Tuesday, April 29th. Finally, Wall Street Zen raised shares of Ameriprise Financial from a "sell" rating to a "hold" rating in a research report on Friday, May 30th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Ameriprise Financial has a consensus rating of "Hold" and a consensus target price of $519.00.

Ameriprise Financial Trading Up 0.9%

Ameriprise Financial stock traded up $4.67 during trading on Tuesday, hitting $538.40. The company's stock had a trading volume of 401,950 shares, compared to its average volume of 495,399. The stock's fifty day moving average is $505.35 and its 200 day moving average is $511.14. Ameriprise Financial, Inc. has a 1-year low of $385.74 and a 1-year high of $582.05. The stock has a market capitalization of $51.27 billion, a price-to-earnings ratio of 18.29, a P/E/G ratio of 1.99 and a beta of 1.23. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.60 and a current ratio of 0.60.

Ameriprise Financial (NYSE:AMP - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The financial services provider reported $9.50 EPS for the quarter, beating analysts' consensus estimates of $9.08 by $0.42. The company had revenue of $4.35 billion during the quarter, compared to the consensus estimate of $4.45 billion. Ameriprise Financial had a net margin of 17.14% and a return on equity of 68.93%. The company's quarterly revenue was up 3.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $8.39 EPS. As a group, equities research analysts predict that Ameriprise Financial, Inc. will post 38.64 EPS for the current year.

Ameriprise Financial Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, May 19th. Investors of record on Monday, May 5th were issued a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a yield of 1.19%. This is an increase from Ameriprise Financial's previous quarterly dividend of $1.48. The ex-dividend date was Monday, May 5th. Ameriprise Financial's payout ratio is presently 21.75%.

Ameriprise Financial declared that its board has authorized a share buyback program on Thursday, April 24th that authorizes the company to buyback $4.50 billion in outstanding shares. This buyback authorization authorizes the financial services provider to buy up to 9.9% of its shares through open market purchases. Shares buyback programs are typically an indication that the company's leadership believes its stock is undervalued.

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.