Commonwealth of Pennsylvania Public School Empls Retrmt SYS Sells 747 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS cut its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 3.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 20,628 shares of the financial services provider’s stock after selling 747 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Ameriprise Financial were worth $10,983,000 as of its most recent filing with the Securities and Exchange Commission.

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

Ameriprise Financial Stock Up 0.1 %

Ameriprise Financial stock opened at $493.41 on Friday. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 1.01. Ameriprise Financial, Inc. has a 12-month low of $385.74 and a 12-month high of $582.05. The firm’s fifty day moving average is $528.03 and its 200 day moving average is $520.24. The company has a market capitalization of $47.43 billion, a PE ratio of 14.92, a PEG ratio of 1.15 and a beta of 1.33.

Ameriprise Financial (NYSE:AMP) last released its earnings results on Wednesday, January 29th. The financial services provider reported $9.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 predict that Ameriprise Financial, Inc. will post 38.64 EPS for the current fiscal 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 given a dividend of $1.48 per share. The ex-dividend date was Monday, February 10th. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.20%. Ameriprise Financial’s payout ratio is presently 17.91%.

Insider Activity at Ameriprise Financial

In other Ameriprise Financial news, CEO William F. Truscott sold 6,000 shares of the company’s stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $540.29, for a total transaction of $3,241,740.00. Following the transaction, the chief executive officer now owns 14,023 shares in the company, valued at approximately $7,576,486.67. This represents a 29.97 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Robert Francis Sharpe, Jr. sold 1,000 shares of the company’s stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $523.12, for a total transaction of $523,120.00. Following the transaction, the director now owns 10,000 shares in the company, valued at approximately $5,231,200. The trade was a 9.09 % 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 quarter. Company insiders own 0.73% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on AMP. Royal Bank of Canada reissued an “outperform” rating and set a $625.00 target price on shares of Ameriprise Financial in a report on Monday, February 3rd. UBS Group lowered shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $580.00 to $570.00 in a report on Monday, January 6th. Piper Sandler boosted their target price on shares of Ameriprise Financial from $415.00 to $442.00 and gave the stock an “underweight” rating in a report on Friday, January 31st. Keefe, Bruyette & Woods boosted their price target on shares of Ameriprise Financial from $560.00 to $570.00 and gave the stock a “market perform” rating in a research report on Monday, February 3rd. Finally, Morgan Stanley boosted 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. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $514.89.

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.