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 decreased its position in Ameriprise Financial, Inc. (NYSE:AMP) by 3.5% in the 4th quarter, HoldingsChannel.com reports. 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 SEC filing.

Several other institutional investors have also recently made changes to their positions in AMP. Howard Capital Management Group LLC grew its stake in shares of Ameriprise Financial by 11.1% in the 3rd quarter. Howard Capital Management Group LLC now owns 1,787 shares of the financial services provider’s stock worth $840,000 after acquiring an additional 178 shares in the last quarter. Advisors Asset Management Inc. grew its stake in shares of Ameriprise Financial by 11.1% in the 3rd quarter. Advisors Asset Management Inc. now owns 1,888 shares of the financial services provider’s stock worth $887,000 after acquiring an additional 188 shares in the last quarter. Moors & Cabot Inc. bought a new stake in shares of Ameriprise Financial in the 3rd quarter worth $208,000. Massachusetts Financial Services Co. MA grew its position in Ameriprise Financial by 5.3% during the third quarter. Massachusetts Financial Services Co. MA now owns 227,406 shares of the financial services provider’s stock valued at $106,838,000 after buying an additional 11,441 shares during the period. Finally, Pacer Advisors Inc. grew its position in Ameriprise Financial by 33.5% during the third quarter. Pacer Advisors Inc. now owns 19,067 shares of the financial services provider’s stock valued at $8,958,000 after buying an additional 4,780 shares during the period. Institutional investors own 83.95% of the company’s stock.

Analyst Ratings Changes

AMP has been the subject of several research reports. Royal Bank of Canada restated an “outperform” rating and set a $625.00 price target on shares of Ameriprise Financial in a research report on Monday, February 3rd. UBS Group lowered shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and reduced their price target for the company from $580.00 to $570.00 in a research report on Monday, January 6th. Morgan Stanley increased their price target on shares of Ameriprise Financial from $507.00 to $542.00 and gave the company an “equal weight” rating in a research report on Tuesday, March 4th. Keefe, Bruyette & Woods increased their price target on shares of Ameriprise Financial from $560.00 to $570.00 and gave the company a “market perform” rating in a research report on Monday, February 3rd. Finally, Piper Sandler increased their price target on shares of Ameriprise Financial from $415.00 to $442.00 and gave the company an “underweight” rating in a research report on Friday, January 31st. One research analyst has rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $514.89.

Ameriprise Financial Trading Up 0.1 %

Shares of Ameriprise Financial stock opened at $493.41 on Friday. Ameriprise Financial, Inc. has a 12-month low of $385.74 and a 12-month high of $582.05. The company has a market cap of $47.43 billion, a price-to-earnings ratio of 14.92, a PEG ratio of 1.15 and a beta of 1.33. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 1.01. The company’s 50-day moving average price is $528.03 and its 200-day moving average price is $520.24.

Ameriprise Financial (NYSE:AMP) last announced its quarterly earnings results on Wednesday, January 29th. The financial services provider reported $9.36 earnings per share (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%. On average, equities analysts expect that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current fiscal year.

Ameriprise Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Monday, February 10th were issued a $1.48 dividend. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.20%. The ex-dividend date of this dividend was Monday, February 10th. Ameriprise Financial’s payout ratio is 17.91%.

Insider Transactions at Ameriprise Financial

In related news, CEO William F. Truscott sold 6,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $540.29, for a total value of $3,241,740.00. Following the sale, the chief executive officer now directly owns 14,023 shares of the company’s stock, valued at $7,576,486.67. This trade represents a 29.97 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Joseph Edward Sweeney sold 4,636 shares of the firm’s stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $539.07, for a total transaction of $2,499,128.52. Following the completion of the sale, the insider now directly owns 7,237 shares in the company, valued at $3,901,249.59. This represents a 39.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 11,636 shares of company stock valued at $6,263,989. 0.73% of the stock is currently owned by corporate insiders.

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.