Ameriprise Financial, Inc. (NYSE:AMP) Shares Sold by Teachers Retirement System of The State of Kentucky

Teachers Retirement System of The State of Kentucky cut its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 17.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 108,032 shares of the financial services provider’s stock after selling 23,232 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Ameriprise Financial were worth $46,150,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Retirement Group LLC purchased a new position in Ameriprise Financial during the 1st quarter worth $25,000. DiNuzzo Private Wealth Inc. grew its holdings in shares of Ameriprise Financial by 268.8% during the second quarter. DiNuzzo Private Wealth Inc. now owns 59 shares of the financial services provider’s stock worth $25,000 after buying an additional 43 shares during the last quarter. Accordant Advisory Group Inc acquired a new position in Ameriprise Financial in the 2nd quarter valued at about $26,000. Redmont Wealth Advisors LLC purchased a new stake in Ameriprise Financial during the 1st quarter valued at approximately $28,000. Finally, Mascoma Wealth Management LLC lifted its position in Ameriprise Financial by 153.8% during the 2nd quarter. Mascoma Wealth Management LLC now owns 66 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 40 shares during the period. 83.95% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on AMP shares. The Goldman Sachs Group lowered Ameriprise Financial from a “buy” rating to a “neutral” rating and dropped their target price for the company from $485.00 to $476.00 in a report on Thursday, September 26th. Piper Sandler reduced their target price on shares of Ameriprise Financial from $390.00 to $387.00 and set an “underweight” rating for the company in a research note on Friday, June 28th. Morgan Stanley dropped their price target on shares of Ameriprise Financial from $444.00 to $440.00 and set an “equal weight” rating on the stock in a research note on Monday, July 29th. Royal Bank of Canada lifted their price objective on Ameriprise Financial from $487.00 to $500.00 and gave the company an “outperform” rating in a report on Tuesday, July 30th. Finally, Keefe, Bruyette & Woods cut their target price on Ameriprise Financial from $470.00 to $460.00 and set a “market perform” rating for the company in a research note on Tuesday, July 30th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $463.00.

Insider Activity

In other Ameriprise Financial news, VP William Davies sold 8,700 shares of the firm’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $442.07, for a total transaction of $3,846,009.00. Following the completion of the transaction, the vice president now owns 13,199 shares of the company’s stock, valued at $5,834,881.93. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.73% of the company’s stock.

Ameriprise Financial Price Performance

Shares of NYSE:AMP opened at $469.81 on Tuesday. Ameriprise Financial, Inc. has a 12 month low of $306.63 and a 12 month high of $471.57. The firm has a market capitalization of $46.66 billion, a price-to-earnings ratio of 15.99, a price-to-earnings-growth ratio of 0.80 and a beta of 1.35. The business’s 50 day simple moving average is $435.13 and its 200-day simple moving average is $430.89. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.59 and a quick ratio of 0.59.

Ameriprise Financial (NYSE:AMP) last announced its quarterly earnings results on Wednesday, July 24th. The financial services provider reported $8.72 earnings per share for the quarter, beating analysts’ consensus estimates of $8.53 by $0.19. Ameriprise Financial had a return on equity of 73.83% and a net margin of 18.64%. The business had revenue of $4.39 billion during the quarter, compared to analysts’ expectations of $4.24 billion. During the same quarter last year, the business posted $7.44 earnings per share. The business’s revenue for the quarter was up 9.6% on a year-over-year basis. As a group, equities analysts forecast that Ameriprise Financial, Inc. will post 34.81 earnings per share for the current fiscal year.

Ameriprise Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 16th. Shareholders of record on Monday, August 5th were issued a $1.48 dividend. This represents a $5.92 annualized dividend and a dividend yield of 1.26%. The ex-dividend date of this dividend was Monday, August 5th. Ameriprise Financial’s dividend payout ratio (DPR) is presently 20.15%.

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.