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

California Public Employees Retirement System reduced its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 5.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 195,282 shares of the financial services provider’s stock after selling 10,880 shares during the quarter. California Public Employees Retirement System’s holdings in Ameriprise Financial were worth $74,174,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. OFI Invest Asset Management acquired a new position in Ameriprise Financial during the third quarter worth about $25,000. Turtle Creek Wealth Advisors LLC acquired a new position in Ameriprise Financial during the fourth quarter worth about $34,000. Carmel Capital Partners LLC acquired a new position in Ameriprise Financial during the third quarter worth about $30,000. Wetzel Investment Advisors Inc. acquired a new position in Ameriprise Financial during the fourth quarter worth about $34,000. Finally, Fortitude Family Office LLC acquired a new position in Ameriprise Financial during the fourth quarter worth about $39,000. 83.95% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Royal Bank of Canada upped their target price on shares of Ameriprise Financial from $470.00 to $480.00 and gave the stock an “outperform” rating in a research report on Wednesday. Keefe, Bruyette & Woods increased their price target on shares of Ameriprise Financial from $420.00 to $460.00 and gave the company a “market perform” rating in a research report on Wednesday, April 10th. Raymond James began coverage on Ameriprise Financial in a research report on Thursday, March 21st. They set a “market perform” rating for the company. UBS Group upped their target price on Ameriprise Financial from $440.00 to $445.00 and gave the company a “buy” rating in a research note on Thursday, January 25th. Finally, Evercore ISI raised their price target on Ameriprise Financial from $400.00 to $445.00 and gave the stock an “in-line” rating in a research report on Thursday, April 11th. One 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’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $449.57.

Ameriprise Financial Stock Performance

Shares of AMP opened at $412.86 on Thursday. Ameriprise Financial, Inc. has a 1 year low of $279.85 and a 1 year high of $440.67. The company’s 50 day simple moving average is $418.15 and its 200 day simple moving average is $379.98. The company has a market capitalization of $41.36 billion, a price-to-earnings ratio of 14.05, a PEG ratio of 0.67 and a beta of 1.36. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.56 and a current ratio of 0.56.

Ameriprise Financial (NYSE:AMP) last issued its quarterly earnings results on Wednesday, April 24th. The financial services provider reported $8.39 earnings per share for the quarter, beating the consensus estimate of $8.10 by $0.29. Ameriprise Financial had a return on equity of 75.97% and a net margin of 19.42%. The company had revenue of $4.15 billion during the quarter, compared to the consensus estimate of $4.15 billion. During the same period in the previous year, the firm posted $7.25 EPS. Ameriprise Financial’s revenue was up 10.8% on a year-over-year basis. On average, sell-side analysts predict that Ameriprise Financial, Inc. will post 34.43 EPS for the current year.

Ameriprise Financial Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 17th. Investors of record on Monday, May 6th will be paid a $1.48 dividend. This is a positive change from Ameriprise Financial’s previous quarterly dividend of $1.35. This represents a $5.92 annualized dividend and a yield of 1.43%. The ex-dividend date of this dividend is Friday, May 3rd. Ameriprise Financial’s dividend payout ratio is presently 18.38%.

Insider Buying and Selling

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 sale, the insider now directly owns 6,994 shares of the company’s stock, valued at approximately $3,056,378. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other Ameriprise Financial news, insider Gumer Alvero sold 1,652 shares of the stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of $437.00, for a total transaction of $721,924.00. Following the transaction, the insider now owns 6,994 shares of the company’s stock, valued at $3,056,378. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO William F. Truscott sold 9,689 shares of Ameriprise Financial stock in a transaction on Friday, January 26th. The shares were sold at an average price of $390.22, for a total transaction of $3,780,841.58. Following the completion of the transaction, the chief executive officer now owns 12,126 shares in the company, valued at approximately $4,731,807.72. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 89,161 shares of company stock worth $35,560,647. 0.73% of the stock is owned by company insiders.

Ameriprise Financial Company 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.