Maryland State Retirement & Pension System Trims Stock Position in Ameriprise Financial, Inc. (NYSE:AMP)

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

Several other hedge funds also recently made changes to their positions in the company. Howard Capital Management Group LLC boosted its position 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 purchasing an additional 178 shares during the period. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in Ameriprise Financial in the third quarter valued at approximately $3,278,000. Advisors Asset Management Inc. boosted its holdings in shares of Ameriprise Financial by 11.1% in the third quarter. Advisors Asset Management Inc. now owns 1,888 shares of the financial services provider's stock valued at $887,000 after acquiring an additional 188 shares during the period. First Horizon Advisors Inc. grew its position in shares of Ameriprise Financial by 10.1% during the third quarter. First Horizon Advisors Inc. now owns 4,019 shares of the financial services provider's stock worth $1,889,000 after acquiring an additional 369 shares during the last quarter. Finally, Moors & Cabot Inc. acquired a new position in shares of Ameriprise Financial in the 3rd quarter valued at $208,000. Hedge funds and other institutional investors own 83.95% of the company's stock.

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Ameriprise Financial Price Performance

AMP traded up $3.86 on Tuesday, hitting $512.01. 433,390 shares of the company were exchanged, compared to its average volume of 458,993. Ameriprise Financial, Inc. has a fifty-two week low of $385.74 and a fifty-two week high of $582.05. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.59 and a current ratio of 0.59. The firm has a market capitalization of $49.21 billion, a P/E ratio of 15.49, a price-to-earnings-growth ratio of 1.15 and a beta of 1.33. The business's fifty day moving average is $527.84 and its 200 day moving average is $521.83.

Ameriprise Financial (NYSE:AMP - Get Free Report) last released its quarterly earnings data on Wednesday, January 29th. The financial services provider reported $9.36 EPS for the quarter, topping the consensus estimate of $9.16 by $0.20. Ameriprise Financial had a net margin of 19.70% and a return on equity of 69.35%. As a group, sell-side analysts anticipate that Ameriprise Financial, Inc. will post 38.64 EPS for the current year.

Ameriprise Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Monday, February 10th were paid a $1.48 dividend. This represents a $5.92 dividend on an annualized basis and a yield of 1.16%. The ex-dividend date was Monday, February 10th. Ameriprise Financial's payout ratio is currently 17.91%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on AMP. Morgan Stanley increased their price target on shares of Ameriprise Financial from $507.00 to $542.00 and gave the stock an "equal weight" rating in a research note on Tuesday, March 4th. Piper Sandler increased their target price on shares of Ameriprise Financial from $415.00 to $442.00 and gave the stock an "underweight" rating in a research note on Friday, January 31st. Keefe, Bruyette & Woods boosted their price target on Ameriprise Financial from $560.00 to $570.00 and gave the company a "market perform" rating in a research report on Monday, February 3rd. Royal Bank of Canada reaffirmed an "outperform" rating and set a $625.00 price objective on shares of Ameriprise Financial in a research report on Monday, February 3rd. Finally, UBS Group lowered Ameriprise Financial from a "buy" rating to a "neutral" rating and dropped their target price for the company from $580.00 to $570.00 in a report on Monday, January 6th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat.com, Ameriprise Financial currently has a consensus rating of "Hold" and a consensus target price of $514.89.

Insider Buying and Selling at Ameriprise Financial

In related news, CEO William F. Truscott sold 6,000 shares of Ameriprise Financial stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $540.29, for a total transaction of $3,241,740.00. Following the completion of the sale, the chief executive officer now owns 14,023 shares in the company, valued at approximately $7,576,486.67. This trade represents a 29.97 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Joseph Edward Sweeney sold 4,636 shares of the company's stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $539.07, for a total transaction of $2,499,128.52. Following the completion of the transaction, the insider now owns 7,237 shares in the company, valued at approximately $3,901,249.59. This trade represents a 39.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have 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.