California Public Employees Retirement System Trims Stock Position in Ameriprise Financial, Inc. (NYSE:AMP)

California Public Employees Retirement System lowered its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 5.3% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 195,282 shares of the financial services provider’s stock after selling 10,880 shares during the period. California Public Employees Retirement System owned about 0.19% of Ameriprise Financial worth $74,174,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. OFI Invest Asset Management purchased a new position in shares of Ameriprise Financial during the 3rd quarter valued at about $25,000. Turtle Creek Wealth Advisors LLC acquired a new stake in shares of Ameriprise Financial during the 4th quarter valued at about $34,000. Carmel Capital Partners LLC acquired a new stake in shares of Ameriprise Financial during the 3rd quarter valued at about $30,000. Wetzel Investment Advisors Inc. acquired a new stake in shares of Ameriprise Financial during the 4th quarter valued at about $34,000. Finally, Fortitude Family Office LLC acquired a new stake in shares of Ameriprise Financial during the 4th quarter valued at about $39,000. Hedge funds and other institutional investors own 83.95% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on AMP. Royal Bank of Canada raised their target price on Ameriprise Financial from $470.00 to $480.00 and gave the company an “outperform” rating in a research report on Wednesday. Piper Sandler lifted their price objective on Ameriprise Financial from $360.00 to $392.00 and gave the stock an “underweight” rating in a report on Friday, April 5th. UBS Group lifted their price objective on Ameriprise Financial from $440.00 to $445.00 and gave the stock a “buy” rating in a report on Thursday, January 25th. Morgan Stanley lifted their price objective on Ameriprise Financial from $400.00 to $437.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 9th. Finally, Keefe, Bruyette & Woods lifted their price objective on Ameriprise Financial from $420.00 to $460.00 and gave the stock a “market perform” rating in a report on Wednesday, April 10th. 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 stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $449.57.

Ameriprise Financial Trading Up 1.3 %

AMP opened at $412.86 on Thursday. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.56 and a quick ratio of 0.56. The company’s 50 day simple moving average is $418.15 and its two-hundred day simple moving average is $379.98. Ameriprise Financial, Inc. has a 1-year low of $279.85 and a 1-year high of $440.67. The firm has a market capitalization of $41.36 billion, a price-to-earnings ratio of 14.05, a price-to-earnings-growth ratio of 0.67 and a beta of 1.36.

Ameriprise Financial (NYSE:AMP) last released its earnings results on Wednesday, April 24th. The financial services provider reported $8.39 earnings per share for the quarter, topping analysts’ consensus estimates of $8.10 by $0.29. Ameriprise Financial had a net margin of 19.42% and a return on equity of 75.97%. The business had revenue of $4.15 billion for the quarter, compared to analyst estimates of $4.15 billion. During the same period last year, the company posted $7.25 EPS. The business’s revenue was up 10.8% on a year-over-year basis. Analysts expect that Ameriprise Financial, Inc. will post 34.43 EPS for the current fiscal year.

Ameriprise Financial Increases Dividend

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

Insider Activity

In other news, CEO William F. Truscott sold 9,689 shares of Ameriprise Financial stock in a transaction that occurred on Friday, January 26th. The shares were 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 of the company’s stock, valued at approximately $4,731,807.72. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Ameriprise Financial news, insider Joseph Edward Sweeney sold 5,146 shares of the business’s stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $389.47, for a total value of $2,004,212.62. Following the sale, the insider now owns 9,421 shares of the company’s stock, valued at $3,669,196.87. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO William F. Truscott sold 9,689 shares of the business’s stock in a transaction that occurred on 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 completion of the sale, the chief executive officer now directly owns 12,126 shares in the company, valued at approximately $4,731,807.72. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 89,161 shares of company stock valued at $35,560,647. 0.73% of the stock is currently owned by company insiders.

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.