Carret Asset Management LLC Sells 265 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

Carret Asset Management LLC decreased its position in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 3.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities & 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 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of AMP. Barclays PLC increased its position in Ameriprise Financial by 63.9% during the third quarter. Barclays PLC now owns 350,391 shares of the financial services provider’s stock valued at $115,517,000 after acquiring an additional 136,621 shares during the last quarter. Qube Research & Technologies Ltd boosted its stake in shares of Ameriprise Financial by 134.4% during the third quarter. Qube Research & Technologies Ltd now owns 208,570 shares of the financial services provider’s stock valued at $68,761,000 after purchasing an additional 119,578 shares during the period. Assenagon Asset Management S.A. boosted its stake in shares of Ameriprise Financial by 107.0% during the third quarter. Assenagon Asset Management S.A. now owns 209,822 shares of the financial services provider’s stock valued at $69,174,000 after purchasing an additional 108,461 shares during the period. Payden & Rygel Investment Group purchased a new stake in shares of Ameriprise Financial during the third quarter valued at $28,382,000. Finally, Canada Pension Plan Investment Board boosted its stake in shares of Ameriprise Financial by 398.5% during the third quarter. Canada Pension Plan Investment Board now owns 100,100 shares of the financial services provider’s stock valued at $33,001,000 after purchasing an additional 80,020 shares during the period. Institutional investors own 83.95% of the company’s stock.

Insider Activity

In other news, SVP Dawn M. Brockman sold 224 shares of the company’s stock in a transaction dated Tuesday, March 26th. The shares were sold at an average price of $434.13, for a total transaction of $97,245.12. Following the transaction, the senior vice president now owns 1,288 shares in the company, valued at $559,159.44. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, EVP Gerard P. Smyth sold 4,440 shares of the stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $407.92, for a total transaction of $1,811,164.80. Following the transaction, the executive vice president now owns 3,787 shares in the company, valued at approximately $1,544,793.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Dawn M. Brockman sold 224 shares of the stock in a transaction that occurred on Tuesday, March 26th. The shares were sold at an average price of $434.13, for a total value of $97,245.12. Following the transaction, the senior vice president now owns 1,288 shares in the company, valued at approximately $559,159.44. The disclosure for this sale can be found here. Insiders have sold a total of 89,161 shares of company stock worth $35,560,647 over the last 90 days. 0.96% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

AMP has been the subject of a number of recent analyst reports. Keefe, Bruyette & Woods boosted their target price on shares of Ameriprise Financial from $420.00 to $460.00 and gave the company a “market perform” rating in a research note on Wednesday, April 10th. Morgan Stanley boosted their target price on shares of Ameriprise Financial from $400.00 to $437.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 9th. Royal Bank of Canada boosted their target price on shares of Ameriprise Financial from $470.00 to $480.00 and gave the company an “outperform” rating in a research note on Wednesday. Raymond James initiated coverage on shares of Ameriprise Financial in a research note on Thursday, March 21st. They set a “market perform” rating for the company. Finally, UBS Group upped their price objective on shares of Ameriprise Financial from $440.00 to $445.00 and gave the stock a “buy” rating in a research note on Thursday, January 25th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $449.57.

Ameriprise Financial Stock Up 1.3 %

Ameriprise Financial stock traded up $5.17 during trading hours on Wednesday, reaching $412.86. The stock had a trading volume of 625,126 shares, compared to its average volume of 502,423. The company has a market cap of $41.36 billion, a price-to-earnings ratio of 13.99, a PEG ratio of 0.69 and a beta of 1.36. The company has a debt-to-equity ratio of 1.17, a current ratio of 0.56 and a quick ratio of 0.56. The business’s 50 day moving average price is $417.72 and its 200-day moving average price is $379.75. Ameriprise Financial, Inc. has a 52 week low of $279.85 and a 52 week high of $440.67.

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

Ameriprise Financial Increases Dividend

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

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.