Carlson Capital Management Makes New Investment in Ameriprise Financial, Inc. (NYSE:AMP)

Carlson Capital Management bought a new position in shares of Ameriprise Financial, Inc. (NYSE:AMP) during the fourth quarter, Holdings Channel reports. The fund bought 530 shares of the financial services provider’s stock, valued at approximately $282,000.

A number of other institutional investors have also recently added to or reduced their stakes in AMP. TCTC Holdings LLC acquired a new position in shares of Ameriprise Financial in the 4th quarter worth approximately $26,000. Whipplewood Advisors LLC acquired a new position in shares of Ameriprise Financial in the 4th quarter worth approximately $28,000. Rialto Wealth Management LLC acquired a new position in shares of Ameriprise Financial in the 4th quarter worth approximately $28,000. Wingate Wealth Advisors Inc. acquired a new position in shares of Ameriprise Financial in the 4th quarter worth approximately $30,000. Finally, Sound Income Strategies LLC acquired a new position in shares of Ameriprise Financial in the 4th quarter worth approximately $36,000. 83.95% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on AMP. 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 restated an “outperform” rating and issued a $625.00 price target on shares of Ameriprise Financial in a research report on Monday, February 3rd. Morgan Stanley boosted their price target on shares of Ameriprise Financial from $507.00 to $542.00 and gave the stock an “equal weight” rating in a research report on Tuesday, March 4th. Piper Sandler boosted their target price 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. Finally, UBS Group downgraded shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and dropped their target price for the company from $580.00 to $570.00 in a research report on Monday, January 6th. One research analyst has rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $514.89.

Ameriprise Financial Stock Performance

AMP opened at $492.52 on Tuesday. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 1.01. The company’s fifty day moving average price is $530.81 and its two-hundred day moving average price is $519.99. Ameriprise Financial, Inc. has a 1-year low of $385.74 and a 1-year high of $582.05. The company has a market cap of $47.34 billion, a price-to-earnings ratio of 14.90, a PEG ratio of 1.15 and a beta of 1.33.

Ameriprise Financial (NYSE:AMP) last released 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%. On average, analysts expect that Ameriprise Financial, Inc. will post 38.64 EPS for the current fiscal year.

Ameriprise Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Monday, February 10th were issued a dividend of $1.48 per share. 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 17.91%.

Insider Transactions at Ameriprise Financial

In other news, insider Joseph Edward Sweeney sold 4,636 shares of the company’s stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $539.07, for a total value of $2,499,128.52. Following the completion of the sale, the insider now owns 7,237 shares in the company, valued at $3,901,249.59. This represents a 39.05 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Robert Francis Sharpe, Jr. sold 1,000 shares of the company’s stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $523.12, for a total transaction of $523,120.00. Following the completion of the sale, the director now 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 disclosure for this sale can be found here. Insiders sold a total of 11,636 shares of company stock worth $6,263,989 in the last quarter. 0.73% of the stock is currently owned by corporate insiders.

About Ameriprise Financial

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.