Carlson Capital Management Acquires Shares of 530 Ameriprise Financial, Inc. (NYSE:AMP)

Carlson Capital Management purchased a new position in Ameriprise Financial, Inc. (NYSE:AMP - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 530 shares of the financial services provider's stock, valued at approximately $282,000.

A number of other large investors also recently added to or reduced their stakes in AMP. JPMorgan Chase & Co. raised its holdings in shares of Ameriprise Financial by 9.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,285,476 shares of the financial services provider's stock worth $2,013,359,000 after acquiring an additional 358,699 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Ameriprise Financial by 1.2% during the 3rd quarter. Geode Capital Management LLC now owns 2,609,486 shares of the financial services provider's stock worth $1,222,943,000 after acquiring an additional 31,158 shares in the last quarter. Amundi raised its holdings in shares of Ameriprise Financial by 48.0% during the 4th quarter. Amundi now owns 642,226 shares of the financial services provider's stock worth $343,546,000 after acquiring an additional 208,195 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Ameriprise Financial by 0.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 602,317 shares of the financial services provider's stock worth $320,692,000 after acquiring an additional 5,048 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. raised its holdings in shares of Ameriprise Financial by 429.0% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 417,149 shares of the financial services provider's stock worth $222,103,000 after acquiring an additional 338,298 shares in the last quarter. 83.95% of the stock is owned by hedge funds and other institutional investors.

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Analyst Ratings Changes

Several brokerages have recently issued reports on AMP. Royal Bank of Canada reaffirmed an "outperform" rating and set a $625.00 price objective on shares of Ameriprise Financial in a report on Monday, February 3rd. Keefe, Bruyette & Woods boosted their target price on Ameriprise Financial from $560.00 to $570.00 and gave the company a "market perform" rating in a research report on Monday, February 3rd. Morgan Stanley boosted their target price on Ameriprise Financial from $507.00 to $542.00 and gave the company an "equal weight" rating in a research report on Tuesday, March 4th. UBS Group downgraded Ameriprise Financial from a "buy" rating to a "neutral" rating and cut their target price for the company from $580.00 to $570.00 in a research report on Monday, January 6th. Finally, Piper Sandler boosted their target price on Ameriprise Financial from $415.00 to $442.00 and gave the company an "underweight" rating in a research report on Friday, January 31st. One analyst has rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $514.89.

Insider Transactions at Ameriprise Financial

In other Ameriprise Financial news, insider Joseph Edward Sweeney sold 4,636 shares of the stock in a transaction dated Wednesday, February 19th. The stock was 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 directly owns 7,237 shares in the company, valued at approximately $3,901,249.59. This trade represents a 39.05 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO William F. Truscott sold 6,000 shares of the stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $540.29, for a total value of $3,241,740.00. Following the completion of the sale, the chief executive officer now owns 14,023 shares of the company's stock, valued at approximately $7,576,486.67. This trade represents a 29.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In 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 corporate insiders.

Ameriprise Financial Trading Up 0.1 %

Ameriprise Financial stock traded up $0.33 during mid-day trading on Friday, hitting $493.41. The company's stock had a trading volume of 1,409,453 shares, compared to its average volume of 459,068. The company has a 50 day moving average of $528.03 and a 200-day moving average of $520.24. The stock has a market cap of $47.43 billion, a PE ratio of 14.92, a P/E/G ratio of 1.15 and a beta of 1.33. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.59 and a current ratio of 0.59. Ameriprise Financial, Inc. has a one year low of $385.74 and a one year high of $582.05.

Ameriprise Financial (NYSE:AMP - Get Free Report) last posted its quarterly earnings results on Wednesday, January 29th. The financial services provider reported $9.36 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $9.16 by $0.20. Ameriprise Financial had a return on equity of 69.35% and a net margin of 19.70%. On average, research analysts anticipate that Ameriprise Financial, Inc. will post 38.64 EPS for the current year.

Ameriprise Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Monday, February 10th were given a dividend of $1.48 per share. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.20%. The ex-dividend date was Monday, February 10th. Ameriprise Financial's payout ratio is 17.91%.

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.