49 Shares in Ameriprise Financial, Inc. (NYSE:AMP) Purchased by TCTC Holdings LLC

TCTC Holdings LLC acquired a new stake in Ameriprise Financial, Inc. (NYSE:AMP) in the fourth quarter, HoldingsChannel.com reports. The fund acquired 49 shares of the financial services provider’s stock, valued at approximately $26,000.

A number of other hedge funds have also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. lifted its position in Ameriprise Financial by 9.1% in the third quarter. JPMorgan Chase & Co. now owns 4,285,476 shares of the financial services provider’s stock valued at $2,013,359,000 after purchasing an additional 358,699 shares during the period. Geode Capital Management LLC lifted its position in Ameriprise Financial by 1.2% in the third quarter. Geode Capital Management LLC now owns 2,609,486 shares of the financial services provider’s stock valued at $1,222,943,000 after purchasing an additional 31,158 shares during the period. Amundi lifted its position in Ameriprise Financial by 48.0% in the fourth quarter. Amundi now owns 642,226 shares of the financial services provider’s stock valued at $343,546,000 after purchasing an additional 208,195 shares during the period. Charles Schwab Investment Management Inc. lifted its position in Ameriprise Financial by 0.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 602,317 shares of the financial services provider’s stock valued at $320,692,000 after purchasing an additional 5,048 shares during the period. Finally, Robeco Institutional Asset Management B.V. lifted its position in Ameriprise Financial by 429.0% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 417,149 shares of the financial services provider’s stock valued at $222,103,000 after purchasing an additional 338,298 shares during the period. Institutional investors and hedge funds own 83.95% of the company’s stock.

Insiders Place Their Bets

In other Ameriprise Financial news, Director Robert Francis Sharpe, Jr. sold 1,000 shares of Ameriprise Financial stock in a transaction that occurred 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 completion of the sale, the director now directly owns 10,000 shares of the company’s stock, valued at approximately $5,231,200. The trade was a 9.09 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Joseph Edward Sweeney sold 4,636 shares of Ameriprise Financial stock in a transaction that occurred 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 completion of the sale, the insider now directly owns 7,237 shares of the company’s stock, valued at $3,901,249.59. The trade was a 39.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 11,636 shares of company stock valued at $6,263,989. Company insiders own 0.73% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on AMP shares. UBS Group downgraded shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $580.00 to $570.00 in a research report on Monday, January 6th. 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. Piper Sandler lifted their price target on shares of Ameriprise Financial from $415.00 to $442.00 and gave the company an “underweight” rating in a research report on Friday, January 31st. Keefe, Bruyette & Woods lifted their price target on shares of Ameriprise Financial from $560.00 to $570.00 and gave the company a “market perform” rating in a research report on Monday, February 3rd. Finally, Morgan Stanley lifted their price target on shares of Ameriprise Financial from $507.00 to $542.00 and gave the company an “equal weight” rating in a research report on Tuesday, March 4th. One 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. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $514.89.

Ameriprise Financial Trading Up 1.4 %

Shares of Ameriprise Financial stock opened at $492.52 on Tuesday. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.59 and a quick ratio of 0.59. Ameriprise Financial, Inc. has a 1 year low of $385.74 and a 1 year high of $582.05. The company has a market capitalization of $47.34 billion, a P/E ratio of 14.90, a P/E/G ratio of 1.15 and a beta of 1.33. The business has a 50 day moving average price of $530.81 and a 200 day moving average price of $519.99.

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, topping the consensus estimate of $9.16 by $0.20. Ameriprise Financial had a return on equity of 69.35% and a net margin of 19.70%. Sell-side analysts anticipate that Ameriprise Financial, Inc. will post 38.64 EPS for the current fiscal year.

Ameriprise Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Monday, February 10th were paid a $1.48 dividend. The ex-dividend date was Monday, February 10th. This represents a $5.92 annualized dividend and a yield of 1.20%. Ameriprise Financial’s payout ratio is currently 17.91%.

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.