New York State Common Retirement Fund Cuts Stock Holdings in Ameriprise Financial, Inc. (NYSE:AMP)

New York State Common Retirement Fund trimmed its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 5.1% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 55,256 shares of the financial services provider’s stock after selling 3,000 shares during the period. New York State Common Retirement Fund owned 0.06% of Ameriprise Financial worth $29,420,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. JPMorgan Chase & Co. grew its stake in Ameriprise Financial by 9.1% during the third quarter. JPMorgan Chase & Co. now owns 4,285,476 shares of the financial services provider’s stock valued at $2,013,359,000 after acquiring an additional 358,699 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Ameriprise Financial by 1.2% in the 3rd quarter. Geode Capital Management LLC now owns 2,609,486 shares of the financial services provider’s stock worth $1,222,943,000 after buying an additional 31,158 shares in the last quarter. Robeco Institutional Asset Management B.V. grew its stake in shares of Ameriprise Financial by 429.0% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 417,149 shares of the financial services provider’s stock worth $222,103,000 after buying an additional 338,298 shares in the last quarter. Maj Invest Holding A S grew its stake in shares of Ameriprise Financial by 67.5% in the 4th quarter. Maj Invest Holding A S now owns 352,095 shares of the financial services provider’s stock worth $187,466,000 after buying an additional 141,927 shares in the last quarter. Finally, AustralianSuper Pty Ltd grew its stake in shares of Ameriprise Financial by 41.1% in the 4th quarter. AustralianSuper Pty Ltd now owns 256,309 shares of the financial services provider’s stock worth $136,467,000 after buying an additional 74,705 shares in the last quarter. 83.95% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Ameriprise Financial

In related news, CEO William F. Truscott sold 6,000 shares of Ameriprise Financial stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $540.29, for a total transaction of $3,241,740.00. Following the completion of the sale, the chief executive officer now owns 14,023 shares in the company, valued at $7,576,486.67. This trade represents a 29.97 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Robert Francis Sharpe, Jr. sold 1,000 shares of Ameriprise Financial stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $523.12, for a total transaction of $523,120.00. Following the sale, the director now owns 10,000 shares of the company’s stock, valued at $5,231,200. The trade was a 9.09 % decrease in their position. The disclosure for this sale can be found here. 0.73% of the stock is currently owned by company insiders.

Ameriprise Financial Price Performance

AMP stock opened at $540.95 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 current ratio of 0.59, a quick ratio of 0.65 and a debt-to-equity ratio of 1.01. The company has a 50-day moving average price of $541.02 and a 200 day moving average price of $508.46. The stock has a market cap of $52.48 billion, a PE ratio of 16.36, a P/E/G ratio of 1.19 and a beta of 1.36.

Ameriprise Financial (NYSE:AMP) last announced its quarterly earnings data on Wednesday, January 29th. The financial services provider reported $9.36 earnings per share for the quarter, beating 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%. Equities research analysts anticipate that Ameriprise Financial, Inc. will post 38.55 earnings per share for the current year.

Ameriprise Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Monday, February 10th will be issued a dividend of $1.48 per share. The ex-dividend date is Monday, February 10th. This represents a $5.92 dividend on an annualized basis and a yield of 1.09%. Ameriprise Financial’s payout ratio is 17.91%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on AMP shares. Keefe, Bruyette & Woods lifted their price objective 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. UBS Group cut shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $580.00 to $570.00 in a research note on Monday, January 6th. Piper Sandler lifted their price objective on shares of Ameriprise Financial from $415.00 to $442.00 and gave the stock an “underweight” rating in a research note on Friday, January 31st. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $625.00 price objective 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 issued a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $510.44.

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.