Tufton Capital Management Purchases Shares of 530 Ameriprise Financial, Inc. (NYSE:AMP)

Tufton Capital Management bought a new position in Ameriprise Financial, Inc. (NYSE:AMP) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 530 shares of the financial services provider’s stock, valued at approximately $201,000.

A number of other hedge funds have also modified their holdings of AMP. OFI Invest Asset Management bought a new position in Ameriprise Financial in the 3rd quarter valued at $25,000. Financial Freedom LLC bought a new position in Ameriprise Financial in the 4th quarter valued at $27,000. Turtle Creek Wealth Advisors LLC bought a new position in Ameriprise Financial in the 4th quarter valued at $34,000. Carmel Capital Partners LLC acquired a new position in shares of Ameriprise Financial in the 3rd quarter valued at $30,000. Finally, FinTrust Capital Advisors LLC acquired a new position in shares of Ameriprise Financial in the 4th quarter valued at $32,000. 83.95% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on AMP shares. Keefe, Bruyette & Woods increased their price target on Ameriprise Financial from $420.00 to $460.00 and gave the company a “market perform” rating in a research note on Wednesday, April 10th. Evercore ISI raised their price objective on Ameriprise Financial from $400.00 to $445.00 and gave the stock an “in-line” rating in a research note on Thursday, April 11th. The Goldman Sachs Group raised their price objective on Ameriprise Financial from $437.00 to $488.00 and gave the stock a “buy” rating in a research note on Wednesday, March 27th. Royal Bank of Canada raised their price objective on Ameriprise Financial from $410.00 to $420.00 and gave the stock an “outperform” rating in a research note on Monday, January 22nd. Finally, UBS Group raised their price objective on Ameriprise Financial from $440.00 to $445.00 and gave the stock a “buy” rating in a research note on Thursday, January 25th. One analyst has rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $441.00.

Ameriprise Financial Stock Performance

AMP opened at $412.63 on Friday. The business’s 50-day moving average price is $416.48 and its two-hundred day moving average price is $377.00. Ameriprise Financial, Inc. has a 1 year low of $279.85 and a 1 year high of $440.67. The company has a market capitalization of $41.34 billion, a price-to-earnings ratio of 17.40, a P/E/G ratio of 0.68 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.

Ameriprise Financial (NYSE:AMP) last released its quarterly earnings results on Thursday, January 25th. The financial services provider reported $7.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.67 by $0.08. Ameriprise Financial had a return on equity of 77.39% and a net margin of 16.27%. The firm had revenue of $3.99 billion for the quarter, compared to the consensus estimate of $3.90 billion. During the same quarter last year, the business posted $6.94 EPS. The company’s revenue for the quarter was up 9.0% on a year-over-year basis. Equities analysts expect that Ameriprise Financial, Inc. will post 34.43 EPS for the current fiscal year.

Ameriprise Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, February 27th. Shareholders of record on Friday, February 9th were paid a $1.35 dividend. This represents a $5.40 annualized dividend and a dividend yield of 1.31%. The ex-dividend date was Thursday, February 8th. Ameriprise Financial’s dividend payout ratio is 22.78%.

Insider Buying and Selling at Ameriprise Financial

In related news, CEO William F. Truscott sold 9,689 shares of the company’s stock in a transaction dated Friday, January 26th. The stock was sold at an average price of $390.22, for a total transaction of $3,780,841.58. Following the sale, the chief executive officer now owns 12,126 shares in the company, valued at $4,731,807.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, SVP Dawn M. Brockman sold 224 shares of the company’s stock in a transaction dated Tuesday, March 26th. The stock was sold at an average price of $434.13, for a total transaction of $97,245.12. Following the sale, 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 Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO William F. Truscott sold 9,689 shares of the company’s stock in a transaction dated Friday, January 26th. The stock was sold at an average price of $390.22, for a total value of $3,780,841.58. Following the sale, the chief executive officer now owns 12,126 shares in the company, valued at approximately $4,731,807.72. The disclosure for this sale can be found here. Insiders have sold 89,161 shares of company stock valued at $35,560,647 in the last 90 days. 0.73% of the stock is currently owned by company insiders.

Ameriprise Financial Company 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.