Kentucky Retirement Systems Insurance Trust Fund Boosts Position in Ameriprise Financial, Inc. (NYSE:AMP)

Kentucky Retirement Systems Insurance Trust Fund grew its stake in Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 137.0% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 6,889 shares of the financial services provider's stock after buying an additional 3,982 shares during the quarter. Kentucky Retirement Systems Insurance Trust Fund's holdings in Ameriprise Financial were worth $3,668,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in AMP. Exchange Traded Concepts LLC purchased a new position in shares of Ameriprise Financial in the 3rd quarter valued at about $108,000. Creative Planning boosted its stake in shares of Ameriprise Financial by 1.6% in the 3rd quarter. Creative Planning now owns 22,571 shares of the financial services provider's stock valued at $10,604,000 after buying an additional 348 shares during the period. Howard Capital Management Group LLC boosted its stake in shares of Ameriprise Financial by 11.1% in the 3rd quarter. Howard Capital Management Group LLC now owns 1,787 shares of the financial services provider's stock valued at $840,000 after buying an additional 178 shares during the period. Blue Trust Inc. boosted its stake in shares of Ameriprise Financial by 15.5% in the 3rd quarter. Blue Trust Inc. now owns 1,831 shares of the financial services provider's stock valued at $782,000 after buying an additional 246 shares during the period. Finally, Raymond James & Associates boosted its stake in shares of Ameriprise Financial by 3.1% in the 3rd quarter. Raymond James & Associates now owns 159,215 shares of the financial services provider's stock valued at $74,801,000 after buying an additional 4,859 shares during the period. Hedge funds and other institutional investors own 83.95% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on AMP shares. Royal Bank of Canada reiterated an "outperform" rating and issued a $625.00 price objective on shares of Ameriprise Financial in a research note on Monday, February 3rd. UBS Group cut Ameriprise Financial from a "buy" rating to a "neutral" rating and decreased their target price for the stock from $580.00 to $570.00 in a research note on Monday, January 6th. Keefe, Bruyette & Woods boosted their target price on Ameriprise Financial from $560.00 to $570.00 and gave the stock a "market perform" rating in a research note on Monday, February 3rd. Finally, Piper Sandler boosted their target price on Ameriprise Financial from $415.00 to $442.00 and gave the stock an "underweight" rating in a research note on Friday, January 31st. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $510.44.

Ameriprise Financial Stock Performance

NYSE AMP traded down $10.83 on Friday, reaching $530.18. The stock had a trading volume of 690,237 shares, compared to its average volume of 555,326. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.65 and a current ratio of 0.59. Ameriprise Financial, Inc. has a 12-month low of $385.74 and a 12-month high of $582.05. The business's 50-day moving average price is $540.89 and its 200 day moving average price is $508.68. The stock has a market cap of $51.44 billion, a P/E ratio of 16.04, a price-to-earnings-growth ratio of 1.19 and a beta of 1.36.

Ameriprise Financial (NYSE:AMP - Get Free Report) last issued its quarterly earnings data on Wednesday, January 29th. The financial services provider reported $9.36 earnings per share 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 expect that Ameriprise Financial, Inc. will post 38.55 earnings per share for the current year.

Ameriprise Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Monday, February 10th will be paid a $1.48 dividend. This represents a $5.92 dividend on an annualized basis and a yield of 1.12%. The ex-dividend date of this dividend is Monday, February 10th. Ameriprise Financial's dividend payout ratio is currently 17.91%.

Insider Buying and Selling at Ameriprise Financial

In other news, insider Joseph Edward Sweeney sold 4,636 shares of the business's stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $539.07, for a total value of $2,499,128.52. Following the transaction, the insider now owns 7,237 shares of the company's stock, valued at approximately $3,901,249.59. The trade was a 39.05 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Robert Francis Sharpe, Jr. sold 1,000 shares of the business's stock in a transaction that occurred on Wednesday, February 12th. The shares were sold at an average price of $523.12, for a total value of $523,120.00. Following the completion of the transaction, the director now directly owns 10,000 shares in the company, valued at approximately $5,231,200. The trade was a 9.09 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 11,636 shares of company stock worth $6,263,989. 0.73% of the stock is owned by 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.