New York State Common Retirement Fund Sells 3,000 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

New York State Common Retirement Fund lowered its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 5.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 55,256 shares of the financial services provider's stock after selling 3,000 shares during the period. New York State Common Retirement Fund owned approximately 0.06% of Ameriprise Financial worth $29,420,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of the stock. Wingate Wealth Advisors Inc. bought a new position in Ameriprise Financial during the 4th quarter worth approximately $30,000. Sound Income Strategies LLC bought a new position in shares of Ameriprise Financial during the fourth quarter worth $36,000. Golden State Wealth Management LLC bought a new position in shares of Ameriprise Financial during the fourth quarter worth $38,000. Peterson Financial Group Inc. acquired a new position in shares of Ameriprise Financial in the 3rd quarter valued at $45,000. Finally, Albion Financial Group UT bought a new stake in shares of Ameriprise Financial in the 4th quarter valued at $46,000. 83.95% of the stock is currently owned by institutional investors and hedge funds.

Ameriprise Financial Stock Down 2.0 %

NYSE:AMP traded down $10.83 during trading hours on Friday, reaching $530.18. 690,237 shares of the stock were exchanged, compared to its average volume of 555,326. Ameriprise Financial, Inc. has a twelve month low of $385.74 and a twelve month high of $582.05. The firm has a 50 day moving average of $540.89 and a 200 day moving average of $508.68. The stock has a market cap of $51.44 billion, a PE ratio of 16.04, a PEG ratio of 1.19 and a beta of 1.36. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.59 and a quick ratio of 0.65.

Ameriprise Financial (NYSE:AMP - Get Free Report) last issued its quarterly earnings results on Wednesday, January 29th. The financial services provider reported $9.36 EPS for the quarter, beating the consensus estimate of $9.16 by $0.20. Ameriprise Financial had a return on equity of 69.35% and a net margin of 19.70%. On average, 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 announced a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Monday, February 10th will be issued a dividend of $1.48 per share. The ex-dividend date of this dividend is Monday, February 10th. This represents a $5.92 dividend on an annualized basis and a yield of 1.12%. Ameriprise Financial's payout ratio is 17.91%.

Insider Buying and Selling

In other news, insider Joseph Edward Sweeney sold 4,636 shares of the firm'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 completion of the sale, the insider now directly owns 7,237 shares of the company's stock, valued at $3,901,249.59. This trade represents a 39.05 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Robert Francis Sharpe, Jr. sold 1,000 shares of Ameriprise Financial stock in a transaction that occurred 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 transaction, the director now owns 10,000 shares of the company's stock, valued at $5,231,200. This represents a 9.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 11,636 shares of company stock worth $6,263,989. Insiders own 0.73% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Keefe, Bruyette & Woods lifted their target price on Ameriprise Financial from $560.00 to $570.00 and gave the stock a "market perform" rating in a report on Monday, February 3rd. Royal Bank of Canada reiterated an "outperform" rating and set a $625.00 price objective on shares of Ameriprise Financial in a report on Monday, February 3rd. Piper Sandler increased 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. Finally, UBS Group lowered shares of Ameriprise Financial from a "buy" rating to a "neutral" rating and cut their price target for the company from $580.00 to $570.00 in a research note on Monday, January 6th. One analyst has rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $510.44.

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.