Retirement Systems of Alabama Trims Stake in Ameriprise Financial, Inc. (NYSE:AMP)

Retirement Systems of Alabama cut its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 2.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 21,004 shares of the financial services provider’s stock after selling 488 shares during the quarter. Retirement Systems of Alabama’s holdings in Ameriprise Financial were worth $11,183,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of AMP. Oakworth Capital Inc. purchased a new position in Ameriprise Financial during the third quarter worth about $31,000. Sound Income Strategies LLC acquired a new position in shares of Ameriprise Financial in the 4th quarter worth approximately $36,000. Albion Financial Group UT purchased a new position in shares of Ameriprise Financial during the 4th quarter worth approximately $46,000. Peterson Financial Group Inc. acquired a new stake in Ameriprise Financial in the 3rd quarter valued at approximately $45,000. Finally, Friedenthal Financial acquired a new stake in Ameriprise Financial in the 4th quarter valued at approximately $58,000. 83.95% of the stock is owned by institutional investors and hedge funds.

Ameriprise Financial Trading Down 0.6 %

NYSE AMP opened at $538.59 on Friday. Ameriprise Financial, Inc. has a 52 week low of $385.74 and a 52 week high of $582.05. The firm has a 50 day moving average of $544.84 and a two-hundred day moving average of $500.82. The company has a quick ratio of 0.65, a current ratio of 0.59 and a debt-to-equity ratio of 1.01. The stock has a market capitalization of $52.25 billion, a PE ratio of 16.29, a price-to-earnings-growth ratio of 1.18 and a beta of 1.36.

Ameriprise Financial (NYSE:AMP) last issued its earnings results on Wednesday, January 29th. The financial services provider reported $9.36 EPS for the quarter, topping 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, research analysts expect that Ameriprise Financial, Inc. will post 38.68 EPS for the current fiscal year.

Ameriprise Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Monday, February 10th will be issued a $1.48 dividend. The ex-dividend date of this dividend is Monday, February 10th. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.10%. Ameriprise Financial’s payout ratio is currently 17.91%.

Wall Street Analysts Forecast Growth

AMP has been the subject of several research analyst reports. Morgan Stanley raised their price target on Ameriprise Financial from $440.00 to $502.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 17th. UBS Group cut Ameriprise Financial from a “buy” rating to a “neutral” rating and lowered their target price for the company from $580.00 to $570.00 in a report on Monday, January 6th. 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 note on Monday, February 3rd. Piper Sandler raised their price objective on shares of Ameriprise Financial from $415.00 to $442.00 and gave the company an “underweight” rating in a research note on Friday, January 31st. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $625.00 target price on shares of Ameriprise Financial in a research note on Monday, February 3rd. One research analyst has rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $510.44.

Insider Transactions at Ameriprise Financial

In other Ameriprise Financial news, CFO Walter Stanley Berman sold 8,655 shares of the stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $564.16, for a total value of $4,882,804.80. Following the transaction, the chief financial officer now directly owns 6,409 shares in the company, valued at $3,615,701.44. This represents a 57.45 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.96% of the company’s stock.

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.