Louisiana State Employees Retirement System Purchases New Position in Ameriprise Financial, Inc. (NYSE:AMP)

Louisiana State Employees Retirement System acquired a new position in shares of Ameriprise Financial, Inc. (NYSE:AMP) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 6,100 shares of the financial services provider’s stock, valued at approximately $2,317,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. OFI Invest Asset Management bought a new stake in Ameriprise Financial during the third quarter worth $25,000. Financial Freedom LLC purchased a new position in Ameriprise Financial during the 4th quarter worth $27,000. Carmel Capital Partners LLC bought a new stake in shares of Ameriprise Financial in the 3rd quarter worth $30,000. FinTrust Capital Advisors LLC bought a new stake in shares of Ameriprise Financial in the 4th quarter worth $32,000. Finally, Turtle Creek Wealth Advisors LLC purchased a new stake in shares of Ameriprise Financial in the fourth quarter valued at about $34,000. 83.95% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms recently weighed in on AMP. Piper Sandler boosted their price target on shares of Ameriprise Financial from $360.00 to $392.00 and gave the stock an “underweight” rating in a report on Friday, April 5th. Raymond James assumed coverage on Ameriprise Financial in a research note on Thursday, March 21st. They issued a “market perform” rating on the stock. Evercore ISI upped their target price on Ameriprise Financial from $400.00 to $445.00 and gave the company an “in-line” rating in a report on Thursday, April 11th. The Goldman Sachs Group lifted their price target on Ameriprise Financial from $437.00 to $488.00 and gave the stock a “buy” rating in a report on Wednesday, March 27th. Finally, Morgan Stanley upped their price objective on Ameriprise Financial from $400.00 to $437.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 9th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and three have given 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 $441.00.

Ameriprise Financial Trading Down 0.1 %

Shares of AMP opened at $410.84 on Wednesday. Ameriprise Financial, Inc. has a fifty-two week low of $279.85 and a fifty-two week high of $440.67. The business has a 50-day moving average of $415.72 and a 200 day moving average of $376.51. The firm has a market cap of $41.16 billion, a P/E ratio of 17.33, a price-to-earnings-growth ratio of 0.68 and a beta of 1.36. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.56 and a current ratio of 0.56.

Ameriprise Financial (NYSE:AMP) last posted its quarterly earnings results on Thursday, January 25th. The financial services provider reported $7.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.67 by $0.08. The company had revenue of $3.99 billion for the quarter, compared to analyst estimates of $3.90 billion. Ameriprise Financial had a net margin of 16.27% and a return on equity of 77.39%. The company’s quarterly revenue was up 9.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $6.94 earnings per share. As a group, research analysts forecast that Ameriprise Financial, Inc. will post 34.43 EPS for the current year.

Ameriprise Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, February 27th. Shareholders of record on Friday, February 9th were given a dividend of $1.35 per share. The ex-dividend date was Thursday, February 8th. This represents a $5.40 annualized dividend and a dividend yield of 1.31%. Ameriprise Financial’s dividend payout ratio is currently 22.78%.

Insider Transactions at Ameriprise Financial

In other news, insider Gumer Alvero sold 1,652 shares of Ameriprise Financial stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $437.00, for a total value of $721,924.00. Following the completion of the transaction, the insider now directly owns 6,994 shares in the company, valued at $3,056,378. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Ameriprise Financial news, insider Gumer Alvero sold 1,652 shares of the firm’s stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $437.00, for a total value of $721,924.00. Following the completion of the transaction, the insider now owns 6,994 shares in the company, valued at approximately $3,056,378. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Dawn M. Brockman sold 224 shares of Ameriprise Financial stock in a transaction dated Tuesday, March 26th. The shares were sold at an average price of $434.13, for a total value of $97,245.12. Following the transaction, the senior vice president now directly owns 1,288 shares of the company’s stock, valued at approximately $559,159.44. The disclosure for this sale can be found here. Insiders sold 89,161 shares of company stock valued at $35,560,647 over the last three months. Company insiders own 0.96% of the company’s stock.

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.