Alaska Permanent Fund Corp Sells 1,234 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

Alaska Permanent Fund Corp lessened its holdings in Ameriprise Financial, Inc. (NYSE:AMP) by 16.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,166 shares of the financial services provider’s stock after selling 1,234 shares during the quarter. Alaska Permanent Fund Corp’s holdings in Ameriprise Financial were worth $2,342,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently bought and sold shares of the company. OFI Invest Asset Management bought a new position in Ameriprise Financial in the 3rd quarter valued at $25,000. Carmel Capital Partners LLC bought a new position in shares of Ameriprise Financial during the 3rd quarter worth $30,000. Turtle Creek Wealth Advisors LLC bought a new position in shares of Ameriprise Financial during the 4th quarter worth $34,000. Wetzel Investment Advisors Inc. bought a new position in shares of Ameriprise Financial during the 4th quarter worth $34,000. Finally, Fortitude Family Office LLC bought a new position in shares of Ameriprise Financial during the 4th quarter worth $39,000. Institutional investors own 83.95% of the company’s stock.

Ameriprise Financial Price Performance

AMP traded down $9.45 during trading on Thursday, reaching $403.41. 93,417 shares of the company were exchanged, compared to its average volume of 497,099. The company’s 50-day moving average is $418.15 and its two-hundred day moving average is $379.98. The company has a market cap of $40.42 billion, a price-to-earnings ratio of 14.05, a P/E/G ratio of 0.67 and a beta of 1.36. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 1.13. Ameriprise Financial, Inc. has a 12-month low of $279.85 and a 12-month high of $440.67.

Ameriprise Financial (NYSE:AMP) last released 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 firm had revenue of $4.15 billion for the quarter, compared to analysts’ expectations of $4.15 billion. During the same quarter last year, the firm posted $7.25 EPS. The company’s revenue was up 10.8% compared to the same quarter last year. Research analysts forecast that Ameriprise Financial, Inc. will post 34.43 earnings per share for the current fiscal year.

Ameriprise Financial Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 17th. Shareholders of record on Monday, May 6th will be issued a $1.48 dividend. The ex-dividend date of this dividend is Friday, May 3rd. This represents a $5.92 annualized dividend and a dividend yield of 1.47%. This is a boost from Ameriprise Financial’s previous quarterly dividend of $1.35. Ameriprise Financial’s dividend payout ratio (DPR) is presently 18.38%.

Analyst Upgrades and Downgrades

AMP has been the subject of several research reports. Raymond James initiated coverage on Ameriprise Financial in a research note on Thursday, March 21st. They set a “market perform” rating for the company. Keefe, Bruyette & Woods increased their price target on Ameriprise Financial from $420.00 to $460.00 and gave the stock a “market perform” rating in a research note on Wednesday, April 10th. Royal Bank of Canada increased their price target on Ameriprise Financial from $470.00 to $480.00 and gave the stock an “outperform” rating in a research note on Wednesday. Morgan Stanley increased their price target on Ameriprise Financial from $400.00 to $437.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 9th. Finally, UBS Group increased their price objective on Ameriprise Financial from $440.00 to $445.00 and gave the stock a “buy” rating in a report on Thursday, January 25th. 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. Based on data from MarketBeat.com, Ameriprise Financial currently has an average rating of “Hold” and a consensus target price of $449.57.

Insider Buying and Selling at Ameriprise Financial

In other Ameriprise Financial news, CEO William F. Truscott sold 9,689 shares of the firm’s stock in a transaction dated Friday, January 26th. The stock was sold at an average price of $390.22, for a total value of $3,780,841.58. Following the sale, the chief executive officer now owns 12,126 shares of the company’s stock, valued at approximately $4,731,807.72. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CEO William F. Truscott sold 9,689 shares of the stock in a transaction dated Friday, January 26th. The stock was sold at an average price of $390.22, for a total transaction of $3,780,841.58. Following the transaction, the chief executive officer now directly owns 12,126 shares in the company, valued at approximately $4,731,807.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Dawn M. Brockman sold 224 shares of the 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 owns 1,288 shares in the company, valued at $559,159.44. The disclosure for this sale can be found here. Insiders have sold a total of 89,161 shares of company stock valued at $35,560,647 in the last 90 days. Corporate insiders own 0.73% of the company’s stock.

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.