Tufton Capital Management Invests $201,000 in Ameriprise Financial, Inc. (NYSE:AMP)

Tufton Capital Management purchased a new position in shares of Ameriprise Financial, Inc. (NYSE:AMP) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 530 shares of the financial services provider’s stock, valued at approximately $201,000.

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

Analyst Upgrades and Downgrades

AMP has been the subject of several recent research reports. Piper Sandler boosted their price target on shares of Ameriprise Financial from $360.00 to $392.00 and gave the stock an “underweight” rating in a research note on Friday, April 5th. Raymond James initiated coverage on shares of Ameriprise Financial in a research note on Thursday, March 21st. They issued a “market perform” rating for the company. Evercore ISI boosted their price target on shares of Ameriprise Financial from $400.00 to $445.00 and gave the stock an “in-line” rating in a research note on Thursday, April 11th. Keefe, Bruyette & Woods upped their price objective 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. Finally, UBS Group upped their price objective on shares of Ameriprise Financial from $440.00 to $445.00 and gave the company a “buy” rating in a research note on Thursday, January 25th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, Ameriprise Financial currently has an average rating of “Hold” and a consensus price target of $441.00.

Ameriprise Financial Stock Performance

Shares of NYSE:AMP opened at $412.63 on Friday. Ameriprise Financial, Inc. has a 12 month low of $279.85 and a 12 month high of $440.67. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 1.17. The company has a 50-day moving average price of $416.48 and a 200-day moving average price of $377.00. The company has a market cap of $41.34 billion, a price-to-earnings ratio of 17.40, a price-to-earnings-growth ratio of 0.68 and a beta of 1.36.

Ameriprise Financial (NYSE:AMP) last announced 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 net margin of 16.27% and a return on equity of 77.39%. The company had revenue of $3.99 billion for the quarter, compared to analysts’ expectations of $3.90 billion. During the same quarter in the previous year, the company earned $6.94 earnings per share. Ameriprise Financial’s quarterly revenue was up 9.0% on a year-over-year basis. As a group, equities analysts anticipate that Ameriprise Financial, Inc. will post 34.43 EPS for the current year.

Ameriprise Financial Announces Dividend

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

Insider Activity at Ameriprise Financial

In other Ameriprise Financial news, CEO William F. Truscott sold 9,689 shares of the company’s stock in a transaction dated Friday, January 26th. The shares were 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 $4,731,807.72. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Ameriprise Financial 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 value 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 sale was disclosed in a filing with the SEC, which is available through the SEC website. 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 transaction of $3,780,841.58. Following the completion of 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 worth $35,560,647 over the last 90 days. 0.73% of the stock is owned by company insiders.

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.