Ameriprise Financial, Inc. (NYSE:AMP) Position Cut by Commonwealth of Pennsylvania Public School Empls Retrmt SYS

Commonwealth of Pennsylvania Public School Empls Retrmt SYS lessened its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 3.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 20,628 shares of the financial services provider's stock after selling 747 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS's holdings in Ameriprise Financial were worth $10,983,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of AMP. TCTC Holdings LLC purchased a new stake in shares of Ameriprise Financial during the 4th quarter worth $26,000. Whipplewood Advisors LLC acquired a new stake in shares of Ameriprise Financial in the fourth quarter valued at about $28,000. Rialto Wealth Management LLC acquired a new position in Ameriprise Financial during the fourth quarter worth about $28,000. Wingate Wealth Advisors Inc. purchased a new position in Ameriprise Financial in the fourth quarter valued at about $30,000. Finally, Sound Income Strategies LLC acquired a new stake in shares of Ameriprise Financial during the 4th quarter valued at approximately $36,000. Hedge funds and other institutional investors own 83.95% of the company's stock.

Ameriprise Financial Stock Down 1.1 %

AMP traded down $5.42 during trading hours on Wednesday, reaching $505.15. 348,165 shares of the stock traded hands, compared to its average volume of 458,106. 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 market cap of $48.55 billion, a price-to-earnings ratio of 15.28, a PEG ratio of 1.15 and a beta of 1.33. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.59 and a quick ratio of 0.59. The firm's fifty day simple moving average is $527.56 and its two-hundred day simple moving average is $522.40.

Remove Ads

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, analysts forecast that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current fiscal year.

Ameriprise Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Monday, February 10th were issued a $1.48 dividend. The ex-dividend date of this dividend was Monday, February 10th. This represents a $5.92 annualized dividend and a yield of 1.17%. Ameriprise Financial's dividend payout ratio is presently 17.91%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on AMP shares. Royal Bank of Canada restated an "outperform" rating and issued a $625.00 price target 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 company a "market perform" rating in a report on Monday, February 3rd. UBS Group downgraded Ameriprise Financial from a "buy" rating to a "neutral" rating and cut their price target for the stock from $580.00 to $570.00 in a research note on Monday, January 6th. Piper Sandler lifted their price objective on Ameriprise Financial from $415.00 to $442.00 and gave the stock an "underweight" rating in a research report on Friday, January 31st. Finally, Morgan Stanley increased their target price on Ameriprise Financial from $507.00 to $542.00 and gave the company an "equal weight" rating in a report on Tuesday, March 4th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $514.89.

Insider Buying and Selling at Ameriprise Financial

In related news, CEO William F. Truscott sold 6,000 shares of the company's stock in a transaction that occurred on 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 sale, the chief executive officer now directly owns 14,023 shares of the company's stock, valued at approximately $7,576,486.67. This represents a 29.97 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Joseph Edward Sweeney sold 4,636 shares of Ameriprise Financial stock in a transaction on Wednesday, February 19th. The stock was 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 directly owns 7,237 shares of the company's stock, valued at approximately $3,901,249.59. This represents a 39.05 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 11,636 shares of company stock worth $6,263,989 in the last ninety days. 0.96% of the stock is owned by insiders.

Ameriprise Financial Company 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.