Ameriprise Financial, Inc. (NYSE:AMP) Shares Sold by State of Tennessee Department of Treasury

State of Tennessee Department of Treasury decreased its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 4.0% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 46,056 shares of the financial services provider's stock after selling 1,899 shares during the period. State of Tennessee Department of Treasury's holdings in Ameriprise Financial were worth $24,522,000 at the end of the most recent reporting period.

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

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. UBS Group downgraded shares of Ameriprise Financial from a "buy" rating to a "neutral" rating and dropped their target price for the stock from $580.00 to $570.00 in a research report on Monday, January 6th. Morgan Stanley upped 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 report on Tuesday, March 4th. Keefe, Bruyette & Woods cut their price objective on Ameriprise Financial from $570.00 to $520.00 and set a "market perform" rating on the stock in a research report on Wednesday, April 9th. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $625.00 target price on shares of Ameriprise Financial in a research report on Monday, February 3rd. Finally, Piper Sandler increased their price objective on shares of Ameriprise Financial from $415.00 to $442.00 and gave the company an "underweight" rating in a research report on Friday, January 31st. One research analyst has rated the stock with a sell rating, four have issued a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $517.44.

Ameriprise Financial Stock Down 1.6 %

Shares of NYSE:AMP traded down $7.80 during midday trading on Friday, reaching $466.28. The company had a trading volume of 528,374 shares, compared to its average volume of 491,677. Ameriprise Financial, Inc. has a one year low of $385.74 and a one year high of $582.05. 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 stock has a market capitalization of $44.68 billion, a P/E ratio of 14.10, a PEG ratio of 1.15 and a beta of 1.23. The stock's fifty day moving average price is $488.46 and its 200-day moving average price is $522.22.

Ameriprise Financial (NYSE:AMP - Get Free Report) last issued its earnings results on Thursday, April 24th. The financial services provider reported $9.50 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $9.17 by $0.33. Ameriprise Financial had a net margin of 19.70% and a return on equity of 69.35%. The business had revenue of $4.35 billion for the quarter, compared to analyst estimates of $4.45 billion. Equities research analysts expect that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current fiscal year.

Ameriprise Financial announced that its Board of Directors has initiated a stock repurchase program on Thursday, April 24th that authorizes the company to repurchase $4.50 billion in outstanding shares. This repurchase authorization authorizes the financial services provider to reacquire up to 9.9% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company's management believes its stock is undervalued.

Ameriprise Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, May 19th. Shareholders of record on Monday, May 5th will be paid a dividend of $1.60 per share. The ex-dividend date of this dividend is Monday, May 5th. This represents a $6.40 annualized dividend and a yield of 1.37%. This is a boost from Ameriprise Financial's previous quarterly dividend of $1.48. Ameriprise Financial's dividend payout ratio is presently 21.75%.

Insiders Place Their Bets

In related news, insider Joseph Edward Sweeney sold 4,636 shares of the 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 sale, the insider now owns 7,237 shares in the company, valued at $3,901,249.59. This represents a 39.05 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO William F. Truscott sold 6,000 shares of the firm's 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 transaction, the chief executive officer now directly owns 14,023 shares in the company, valued at $7,576,486.67. This represents a 29.97 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 11,636 shares of company stock valued at $6,263,989 in the last quarter. Insiders own 0.73% of the company's stock.

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.