New York State Common Retirement Fund Sells 10,942 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

New York State Common Retirement Fund cut its stake in Ameriprise Financial, Inc. (NYSE:AMP) by 11.9% in the 4th quarter, Holdings Channel.com reports. The fund owned 81,310 shares of the financial services provider’s stock after selling 10,942 shares during the quarter. New York State Common Retirement Fund’s holdings in Ameriprise Financial were worth $30,884,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. OFI Invest Asset Management bought a new stake in Ameriprise Financial in the 3rd quarter worth approximately $25,000. Carmel Capital Partners LLC acquired a new stake in shares of Ameriprise Financial in the third quarter worth $30,000. Turtle Creek Wealth Advisors LLC acquired a new position in Ameriprise Financial during the 4th quarter valued at about $34,000. Wetzel Investment Advisors Inc. bought a new position in Ameriprise Financial during the fourth quarter valued at approximately $34,000. Finally, Fortitude Family Office LLC acquired a new stake in shares of Ameriprise Financial in the 4th quarter valued at $39,000. 83.95% of the stock is owned by institutional investors and hedge funds.

Ameriprise Financial Stock Performance

AMP stock opened at $410.64 on Friday. The company has a market cap of $41.14 billion, a P/E ratio of 13.98, a price-to-earnings-growth ratio of 0.67 and a beta of 1.36. Ameriprise Financial, Inc. has a 1 year low of $279.85 and a 1 year high of $440.67. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.56 and a quick ratio of 0.56. The stock’s fifty day moving average price is $418.41 and its 200-day moving average price is $380.19.

Ameriprise Financial (NYSE:AMP) last announced its earnings results on Wednesday, April 24th. The financial services provider reported $8.39 EPS for the quarter, beating analysts’ consensus estimates of $8.10 by $0.29. The business had revenue of $4.15 billion during the quarter, compared to analysts’ expectations of $4.15 billion. Ameriprise Financial had a net margin of 19.42% and a return on equity of 75.97%. The business’s revenue was up 10.8% compared to the same quarter last year. During the same period in the prior year, the company earned $7.25 earnings per share. On average, equities analysts forecast that Ameriprise Financial, Inc. will post 34.43 earnings per share for the current year.

Ameriprise Financial Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 17th. Stockholders of record on Monday, May 6th will be given a $1.48 dividend. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.44%. The ex-dividend date is Friday, May 3rd. This is a boost from Ameriprise Financial’s previous quarterly dividend of $1.35. Ameriprise Financial’s payout ratio is presently 18.38%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on AMP shares. Piper Sandler increased their price objective on shares of Ameriprise Financial from $360.00 to $392.00 and gave the stock an “underweight” rating in a research report on Friday, April 5th. UBS Group raised their price objective on shares of Ameriprise Financial from $440.00 to $445.00 and gave the stock a “buy” rating in a research report on Thursday, January 25th. The Goldman Sachs Group boosted their price objective on shares of Ameriprise Financial from $437.00 to $488.00 and gave the stock a “buy” rating in a research report on Wednesday, March 27th. Keefe, Bruyette & Woods raised their target price on Ameriprise Financial from $420.00 to $460.00 and gave the company a “market perform” rating in a research note on Wednesday, April 10th. Finally, Royal Bank of Canada boosted their target price on Ameriprise Financial from $470.00 to $480.00 and gave the stock an “outperform” rating in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, Ameriprise Financial currently has an average rating of “Hold” and a consensus price target of $449.57.

Insiders Place Their Bets

In other Ameriprise Financial news, insider Gumer Alvero sold 1,652 shares of the stock in a transaction 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 completion of the sale, the insider now owns 6,994 shares of the company’s stock, valued at approximately $3,056,378. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, CEO William F. Truscott sold 8,000 shares of the stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $412.05, for a total transaction of $3,296,400.00. Following the sale, the chief executive officer now owns 13,134 shares of the company’s stock, valued at $5,411,864.70. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Gumer Alvero sold 1,652 shares of the business’s stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of $437.00, for a total value of $721,924.00. Following the transaction, the insider now owns 6,994 shares of the company’s stock, valued at approximately $3,056,378. The disclosure for this sale can be found here. In the last three months, insiders have sold 79,472 shares of company stock worth $31,779,805. Corporate insiders own 0.73% 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.