Ameriprise Financial, Inc. (NYSE:AMP) Shares Sold by Carret Asset Management LLC

Carret Asset Management LLC trimmed its holdings in Ameriprise Financial, Inc. (NYSE:AMP) by 3.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 7,360 shares of the financial services provider’s stock after selling 265 shares during the period. Carret Asset Management LLC’s holdings in Ameriprise Financial were worth $2,796,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in AMP. Bfsg LLC purchased a new stake in shares of Ameriprise Financial during the 4th quarter valued at about $566,000. GAMMA Investing LLC purchased a new stake in Ameriprise Financial during the 4th quarter worth approximately $314,000. Parkside Financial Bank & Trust grew its position in shares of Ameriprise Financial by 18.3% in the 4th quarter. Parkside Financial Bank & Trust now owns 511 shares of the financial services provider’s stock worth $194,000 after acquiring an additional 79 shares in the last quarter. SlateStone Wealth LLC acquired a new position in shares of Ameriprise Financial in the 4th quarter worth approximately $204,000. Finally, Larson Financial Group LLC grew its position in shares of Ameriprise Financial by 41.1% in the 4th quarter. Larson Financial Group LLC now owns 632 shares of the financial services provider’s stock worth $240,000 after acquiring an additional 184 shares in the last quarter. 83.95% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Ameriprise Financial

In other news, CFO Walter Stanley Berman sold 13,346 shares of the business’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $387.81, for a total value of $5,175,712.26. Following the sale, the chief financial officer now owns 6,409 shares of the company’s stock, valued at approximately $2,485,474.29. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CFO Walter Stanley Berman sold 13,346 shares of the business’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $387.81, for a total transaction of $5,175,712.26. Following the sale, the chief financial officer now directly owns 6,409 shares of the company’s stock, valued at $2,485,474.29. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Gumer Alvero sold 1,652 shares of the business’s stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $437.00, for a total value of $721,924.00. Following the sale, the insider now directly owns 6,994 shares in the company, valued at $3,056,378. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 89,161 shares of company stock valued at $35,560,647. Corporate insiders own 0.96% of the company’s stock.

Ameriprise Financial Stock Performance

Ameriprise Financial stock traded up $5.17 during mid-day trading on Wednesday, hitting $412.86. 625,126 shares of the company’s stock traded hands, compared to its average volume of 502,423. The firm has a 50 day moving average price of $417.72 and a 200 day moving average price of $379.75. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 1.17. The company has a market cap of $41.36 billion, a PE ratio of 13.99, a price-to-earnings-growth ratio of 0.69 and a beta of 1.36. Ameriprise Financial, Inc. has a one year low of $279.85 and a one year high of $440.67.

Ameriprise Financial (NYSE:AMP) last announced its earnings results on Tuesday, April 23rd. The financial services provider reported $8.39 earnings per share for the quarter, beating the consensus estimate of $8.10 by $0.29. The firm had revenue of $4.15 billion for the quarter, compared to the consensus estimate of $4.15 billion. Ameriprise Financial had a return on equity of 78.98% and a net margin of 19.42%. The firm’s revenue for the quarter was up 10.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $7.25 EPS. On average, equities analysts forecast that Ameriprise Financial, Inc. will post 34.43 EPS for the current year.

Ameriprise Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 17th. Stockholders of record on Monday, May 6th will be paid a $1.48 dividend. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.43%. The ex-dividend date is Friday, May 3rd. This is an increase from Ameriprise Financial’s previous quarterly dividend of $1.35. Ameriprise Financial’s payout ratio is currently 18.38%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. The Goldman Sachs Group lifted their target price on Ameriprise Financial from $437.00 to $488.00 and gave the stock a “buy” rating in a research report on Wednesday, March 27th. UBS Group boosted their price objective on Ameriprise Financial from $440.00 to $445.00 and gave the company a “buy” rating in a research report on Thursday, January 25th. Raymond James started coverage on Ameriprise Financial in a research report on Thursday, March 21st. They set a “market perform” rating for the company. Royal Bank of Canada boosted their price objective on Ameriprise Financial from $470.00 to $480.00 and gave the company an “outperform” rating in a research report on Wednesday. Finally, Evercore ISI boosted their price objective on Ameriprise Financial from $400.00 to $445.00 and gave the company an “in-line” rating in a research report on Thursday, April 11th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, Ameriprise Financial presently has an average rating of “Hold” and an average price target of $449.57.

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.