Ameriprise Financial, Inc. (NYSE:AMP) Stake Lowered by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System cut its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 9.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,190 shares of the financial services provider’s stock after selling 521 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Ameriprise Financial were worth $2,763,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in the stock. TCTC Holdings LLC bought a new position in Ameriprise Financial in the 4th quarter worth approximately $26,000. Rialto Wealth Management LLC bought a new position in Ameriprise Financial in the 4th quarter worth approximately $28,000. Whipplewood Advisors LLC bought a new position in Ameriprise Financial in the 4th quarter worth approximately $28,000. Wingate Wealth Advisors Inc. bought a new position in Ameriprise Financial in the 4th quarter worth approximately $30,000. Finally, Sound Income Strategies LLC bought a new position in Ameriprise Financial in the 4th quarter worth approximately $36,000. 83.95% of the stock is owned by institutional investors.

Analysts Set New Price Targets

AMP has been the subject of a number of recent analyst reports. Piper Sandler increased their price objective on Ameriprise Financial from $415.00 to $442.00 and gave the stock an “underweight” rating in a report on Friday, January 31st. Royal Bank of Canada reissued an “outperform” rating and issued a $625.00 price objective on shares of Ameriprise Financial in a report on Monday, February 3rd. Keefe, Bruyette & Woods upped their target price on Ameriprise Financial from $560.00 to $570.00 and gave the stock a “market perform” rating in a research report on Monday, February 3rd. UBS Group downgraded Ameriprise Financial from a “buy” rating to a “neutral” rating and cut their target price for the stock from $580.00 to $570.00 in a research report on Monday, January 6th. Finally, Morgan Stanley upped their target price on Ameriprise Financial from $507.00 to $542.00 and gave the stock an “equal weight” rating in a research report on Tuesday, March 4th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, Ameriprise Financial presently has an average rating of “Hold” and a consensus target price of $514.89.

Insider Activity

In other news, Director Robert Francis Sharpe, Jr. sold 1,000 shares of the stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $523.12, for a total value of $523,120.00. Following the completion of the sale, the director now owns 10,000 shares in the company, valued at $5,231,200. This represents a 9.09 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Joseph Edward Sweeney sold 4,636 shares of the stock in a transaction on Wednesday, February 19th. The shares were 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 owns 7,237 shares of the company’s stock, valued at $3,901,249.59. The trade was a 39.05 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 11,636 shares of company stock worth $6,263,989. Insiders own 0.73% of the company’s stock.

Ameriprise Financial Price Performance

Shares of NYSE:AMP opened at $492.77 on Friday. Ameriprise Financial, Inc. has a one year low of $385.74 and a one year high of $582.05. The stock has a fifty day moving average of $528.49 and a 200-day moving average of $519.94. The company has a market capitalization of $47.36 billion, a PE ratio of 14.91, a price-to-earnings-growth 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 (NYSE:AMP) last announced its quarterly earnings data on Wednesday, January 29th. The financial services provider reported $9.36 EPS for the quarter, beating 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%. As a group, equities analysts anticipate that Ameriprise Financial, Inc. will post 38.64 EPS for the current fiscal year.

Ameriprise Financial Announces Dividend

The business also recently disclosed 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. The ex-dividend date of this dividend was Monday, February 10th. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.20%. Ameriprise Financial’s dividend payout ratio (DPR) is presently 17.91%.

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.