Ameriprise Financial, Inc. (NYSE:AMP) Shares Sold by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio trimmed its position in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 7.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 39,741 shares of the financial services provider’s stock after selling 3,341 shares during the period. Public Employees Retirement System of Ohio’s holdings in Ameriprise Financial were worth $21,159,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. TCTC Holdings LLC acquired a new stake in Ameriprise Financial in the 4th quarter valued at $26,000. Whipplewood Advisors LLC acquired a new stake in Ameriprise Financial in the 4th quarter valued at $28,000. Rialto Wealth Management LLC acquired a new stake in Ameriprise Financial in the 4th quarter valued at $28,000. Wingate Wealth Advisors Inc. acquired a new stake in Ameriprise Financial in the 4th quarter valued at $30,000. Finally, Sound Income Strategies LLC acquired a new stake in Ameriprise Financial in the 4th quarter valued at $36,000. 83.95% of the stock is currently owned by institutional investors and hedge funds.

Ameriprise Financial Stock Down 0.7%

Shares of Ameriprise Financial stock opened at $504.70 on Friday. The business has a 50-day moving average of $482.22 and a 200-day moving average of $519.91. 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 company has a market capitalization of $48.06 billion, a PE ratio of 15.27, a P/E/G ratio of 1.15 and a beta of 1.28. Ameriprise Financial, Inc. has a 1-year low of $385.74 and a 1-year high of $582.05.

Ameriprise Financial (NYSE:AMP) last announced its earnings results on Thursday, April 24th. The financial services provider reported $9.50 earnings per share for the quarter, beating the consensus estimate of $9.08 by $0.42. Ameriprise Financial had a return on equity of 69.35% and a net margin of 19.70%. The company had revenue of $4.35 billion during the quarter, compared to the consensus estimate of $4.45 billion. During the same period last year, the firm earned $8.39 earnings per share. The company’s revenue was up 3.6% on a year-over-year basis. As a group, equities analysts forecast that Ameriprise Financial, Inc. will post 38.64 EPS for the current fiscal year.

Ameriprise Financial declared that its Board of Directors has approved a stock repurchase program on Thursday, April 24th that authorizes the company to buyback $4.50 billion in outstanding shares. This buyback authorization authorizes the financial services provider to reacquire up to 9.9% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.

Ameriprise Financial Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, May 19th. Stockholders of record on Monday, May 5th were given a dividend of $1.60 per share. This is a boost from Ameriprise Financial’s previous quarterly dividend of $1.48. The ex-dividend date of this dividend was Monday, May 5th. This represents a $6.40 annualized dividend and a dividend yield of 1.27%. Ameriprise Financial’s dividend payout ratio (DPR) is presently 21.75%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on AMP shares. Keefe, Bruyette & Woods increased their price target on Ameriprise Financial from $510.00 to $520.00 and gave the company a “market perform” rating in a report on Wednesday, May 7th. Morgan Stanley increased their price target on Ameriprise Financial from $507.00 to $542.00 and gave the company an “equal weight” rating in a report on Tuesday, March 4th. Piper Sandler increased their price target on Ameriprise Financial from $415.00 to $442.00 and gave the company an “underweight” rating in a report on Friday, January 31st. Wall Street Zen downgraded Ameriprise Financial from a “hold” rating to a “sell” rating in a report on Thursday. Finally, Royal Bank of Canada raised their target price on Ameriprise Financial from $550.00 to $565.00 and gave the company an “outperform” rating in a research note on Tuesday, April 29th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Ameriprise Financial presently has a consensus rating of “Hold” and a consensus price target of $517.13.

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.