State of Tennessee Treasury Department Trims Holdings in Ameriprise Financial, Inc. (NYSE:AMP)

State of Tennessee Treasury Department reduced its stake in shares of Ameriprise Financial, Inc. (NYSE:AMPFree Report) by 25.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 85,681 shares of the financial services provider’s stock after selling 29,913 shares during the quarter. State of Tennessee Treasury Department owned approximately 0.08% of Ameriprise Financial worth $32,544,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Norges Bank purchased a new stake in Ameriprise Financial in the fourth quarter worth about $514,539,000. Dimensional Fund Advisors LP lifted its position in shares of Ameriprise Financial by 3.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,015,225 shares of the financial services provider’s stock worth $385,620,000 after purchasing an additional 35,931 shares during the period. Royal Bank of Canada boosted its stake in shares of Ameriprise Financial by 2.4% during the third quarter. Royal Bank of Canada now owns 894,744 shares of the financial services provider’s stock valued at $294,979,000 after purchasing an additional 20,970 shares in the last quarter. Invesco Ltd. increased its holdings in Ameriprise Financial by 13.4% during the third quarter. Invesco Ltd. now owns 672,823 shares of the financial services provider’s stock valued at $221,816,000 after buying an additional 79,611 shares during the period. Finally, Envestnet Asset Management Inc. raised its stake in Ameriprise Financial by 5.2% in the fourth quarter. Envestnet Asset Management Inc. now owns 652,360 shares of the financial services provider’s stock worth $247,786,000 after buying an additional 32,312 shares in the last quarter. 83.95% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Evercore ISI increased their target price on Ameriprise Financial from $400.00 to $445.00 and gave the company an “in-line” rating in a research report on Thursday, April 11th. Royal Bank of Canada lifted their target price on Ameriprise Financial from $470.00 to $480.00 and gave the company an “outperform” rating in a research note on Wednesday, April 24th. The Goldman Sachs Group boosted their target price on shares of Ameriprise Financial from $437.00 to $488.00 and gave the stock a “buy” rating in a report on Wednesday, March 27th. Piper Sandler raised their price target on shares of Ameriprise Financial from $360.00 to $392.00 and gave the company an “underweight” rating in a report on Friday, April 5th. Finally, Raymond James assumed coverage on shares of Ameriprise Financial in a research note on Thursday, March 21st. They set a “market perform” rating for the company. One investment analyst has rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $450.88.

Read Our Latest Analysis on Ameriprise Financial

Ameriprise Financial Stock Performance

NYSE:AMP traded up $0.26 during trading hours on Monday, hitting $426.89. 65,562 shares of the company were exchanged, compared to its average volume of 478,189. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.56 and a quick ratio of 0.56. Ameriprise Financial, Inc. has a 52-week low of $306.63 and a 52-week high of $442.79. The stock has a market capitalization of $42.40 billion, a price-to-earnings ratio of 14.52, a PEG ratio of 0.73 and a beta of 1.36. The company’s 50 day moving average price is $426.03 and its 200-day moving average price is $402.70.

Ameriprise Financial (NYSE:AMPGet Free Report) last announced its quarterly earnings data on Wednesday, April 24th. The financial services provider reported $8.39 earnings per share for the quarter, beating analysts’ consensus estimates of $8.10 by $0.29. Ameriprise Financial had a net margin of 19.42% and a return on equity of 75.97%. The firm had revenue of $4.15 billion for the quarter, compared to analyst estimates of $4.15 billion. The business’s quarterly revenue was up 10.8% compared to the same quarter last year. During the same period in the previous year, the company earned $7.25 earnings per share. As a group, research analysts forecast that Ameriprise Financial, Inc. will post 34.95 earnings per share for the current year.

Ameriprise Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 17th. Stockholders of record on Monday, May 6th were paid a $1.48 dividend. This represents a $5.92 annualized dividend and a dividend yield of 1.39%. This is a boost from Ameriprise Financial’s previous quarterly dividend of $1.35. The ex-dividend date of this dividend was Friday, May 3rd. Ameriprise Financial’s dividend payout ratio (DPR) is presently 20.15%.

Insider Buying and Selling

In other news, Director Robert Francis Sharpe, Jr. sold 1,500 shares of the company’s stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $438.07, for a total value of $657,105.00. Following the sale, the director now directly owns 11,000 shares of the company’s stock, valued at approximately $4,818,770. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider Gumer Alvero sold 1,652 shares of Ameriprise Financial stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $437.00, for a total transaction 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 can be accessed through this hyperlink. Also, Director Robert Francis Sharpe, Jr. sold 1,500 shares of the firm’s stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $438.07, for a total transaction of $657,105.00. Following the sale, the director now directly owns 11,000 shares in the company, valued at approximately $4,818,770. The disclosure for this sale can be found here. Insiders sold 3,376 shares of company stock valued at $1,476,274 over the last quarter. 0.96% of the stock is currently owned by company insiders.

About Ameriprise Financial

(Free Report)

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.

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Institutional Ownership by Quarter for Ameriprise Financial (NYSE:AMP)

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