TCTC Holdings LLC Makes New $26,000 Investment in Ameriprise Financial, Inc. (NYSE:AMP)

TCTC Holdings LLC bought a new position in shares of Ameriprise Financial, Inc. (NYSE:AMP) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 49 shares of the financial services provider’s stock, valued at approximately $26,000.

Several other hedge funds also recently bought and sold shares of AMP. Howard Capital Management Group LLC boosted its stake in Ameriprise Financial by 11.1% during the third quarter. Howard Capital Management Group LLC now owns 1,787 shares of the financial services provider’s stock worth $840,000 after buying an additional 178 shares during the period. GSA Capital Partners LLP purchased a new position in shares of Ameriprise Financial in the third quarter valued at approximately $503,000. OneDigital Investment Advisors LLC boosted its stake in shares of Ameriprise Financial by 0.7% in the third quarter. OneDigital Investment Advisors LLC now owns 3,513 shares of the financial services provider’s stock valued at $1,650,000 after purchasing an additional 26 shares during the period. CIBC Asset Management Inc boosted its stake in shares of Ameriprise Financial by 7.0% in the third quarter. CIBC Asset Management Inc now owns 14,624 shares of the financial services provider’s stock valued at $6,871,000 after purchasing an additional 958 shares during the period. Finally, Empowered Funds LLC boosted its stake in shares of Ameriprise Financial by 19.9% in the third quarter. Empowered Funds LLC now owns 8,021 shares of the financial services provider’s stock valued at $3,768,000 after purchasing an additional 1,329 shares during the period. Hedge funds and other institutional investors own 83.95% of the company’s stock.

Ameriprise Financial Stock Up 1.4 %

AMP stock opened at $492.52 on Tuesday. The stock has a market cap of $47.34 billion, a P/E ratio of 14.90, a PEG ratio of 1.15 and a beta of 1.33. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 1.01. Ameriprise Financial, Inc. has a twelve month low of $385.74 and a twelve month high of $582.05. The company’s 50 day moving average is $530.81 and its two-hundred day moving average is $519.99.

Ameriprise Financial (NYSE:AMP) last issued its earnings results on Wednesday, January 29th. The financial services provider reported $9.36 earnings per share (EPS) for the quarter, beating 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%. Research analysts expect that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current fiscal year.

Ameriprise Financial Announces Dividend

The company 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. This represents a $5.92 annualized dividend and a dividend yield of 1.20%. The ex-dividend date of this dividend was Monday, February 10th. Ameriprise Financial’s payout ratio is 17.91%.

Insiders Place Their Bets

In other Ameriprise Financial news, insider Joseph Edward Sweeney sold 4,636 shares of the firm’s stock in a transaction dated 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 transaction, the insider now 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 SEC, which can be accessed through this hyperlink. Also, CEO William F. Truscott sold 6,000 shares of the firm’s stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $540.29, for a total value of $3,241,740.00. Following the transaction, the chief executive officer now directly owns 14,023 shares in the company, valued at approximately $7,576,486.67. This represents a 29.97 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 11,636 shares of company stock valued at $6,263,989. 0.73% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research analysts have recently commented on AMP shares. UBS Group lowered shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $580.00 to $570.00 in a research note on Monday, January 6th. Royal Bank of Canada reissued an “outperform” rating and issued a $625.00 price objective on shares of Ameriprise Financial in a research note on Monday, February 3rd. Keefe, Bruyette & Woods raised their price objective on shares of Ameriprise Financial from $560.00 to $570.00 and gave the company a “market perform” rating in a research note on Monday, February 3rd. Morgan Stanley raised their price objective on shares of Ameriprise Financial from $507.00 to $542.00 and gave the company an “equal weight” rating in a research note on Tuesday, March 4th. Finally, Piper Sandler raised 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. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $514.89.

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.