New York State Common Retirement Fund Sells 72 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

Posted by Defense World Staff on Apr 14th, 2023

New York State Common Retirement Fund reduced its position in Ameriprise Financial, Inc. (NYSE:AMP – Get Rating) by 0.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 118,964 shares of the financial services provider’s stock after selling 72 shares during the quarter. New York State Common Retirement Fund owned 0.11% of Ameriprise Financial worth $37,042,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in shares of Ameriprise Financial by 0.6% in the third quarter. Vanguard Group Inc. now owns 13,925,117 shares of the financial services provider’s stock valued at $3,508,434,000 after acquiring an additional 84,131 shares in the last quarter. UBS Asset Management Americas Inc. raised its holdings in Ameriprise Financial by 2.4% in the third quarter. UBS Asset Management Americas Inc. now owns 2,044,344 shares of the financial services provider’s stock worth $515,072,000 after purchasing an additional 48,641 shares in the last quarter. Invesco Ltd. raised its holdings in Ameriprise Financial by 33.5% in the first quarter. Invesco Ltd. now owns 1,078,807 shares of the financial services provider’s stock worth $324,031,000 after purchasing an additional 270,755 shares in the last quarter. Nuveen Asset Management LLC raised its holdings in Ameriprise Financial by 7.9% in the third quarter. Nuveen Asset Management LLC now owns 1,051,996 shares of the financial services provider’s stock worth $265,050,000 after purchasing an additional 77,367 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in Ameriprise Financial by 7.8% in the third quarter. Dimensional Fund Advisors LP now owns 993,519 shares of the financial services provider’s stock worth $250,327,000 after purchasing an additional 71,559 shares in the last quarter. 81.66% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have commented on AMP. Keefe, Bruyette & Woods boosted their target price on shares of Ameriprise Financial from $350.00 to $375.00 and gave the stock a “market perform” rating in a report on Tuesday, January 31st. UBS Group boosted their target price on shares of Ameriprise Financial from $355.00 to $370.00 and gave the stock a “buy” rating in a report on Monday, January 9th. Argus boosted their target price on shares of Ameriprise Financial from $340.00 to $392.00 in a report on Tuesday, January 31st. Morgan Stanley cut their price objective on shares of Ameriprise Financial from $360.00 to $338.00 and set an “equal weight” rating on the stock in a report on Wednesday. Finally, Credit Suisse Group upped their price objective on shares of Ameriprise Financial from $382.00 to $401.00 and gave the company an “outperform” rating in a report on Wednesday, February 1st. Two analysts have rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $346.20.

Insider Transactions at Ameriprise Financial

In other news, EVP Heather J. Melloh sold 769 shares of the firm’s stock in a transaction that occurred on Thursday, February 9th. The shares were sold at an average price of $352.87, for a total transaction of $271,357.03. Following the sale, the executive vice president now owns 3,033 shares of the company’s stock, valued at approximately $1,070,254.71. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP Heather J. Melloh sold 769 shares of the firm’s stock in a transaction that occurred on Thursday, February 9th. The shares were sold at an average price of $352.87, for a total transaction of $271,357.03. Following the sale, the executive vice president now owns 3,033 shares of the company’s stock, valued at approximately $1,070,254.71. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Joseph Edward Sweeney sold 6,390 shares of the firm’s stock in a transaction that occurred on Tuesday, February 14th. The stock was sold at an average price of $350.35, for a total transaction of $2,238,736.50. Following the sale, the insider now directly owns 10,955 shares in the company, valued at approximately $3,838,084.25. The disclosure for this sale can be found here. Insiders have sold 75,328 shares of company stock valued at $26,478,645 in the last 90 days. 0.73% of the stock is currently owned by company insiders.

Ameriprise Financial Price Performance

Shares of NYSE:AMP opened at $308.36 on Friday. Ameriprise Financial, Inc. has a twelve month low of $219.99 and a twelve month high of $357.46. The company’s 50 day moving average is $321.30 and its 200 day moving average is $313.59. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 1.43. The company has a market cap of $32.42 billion, a PE ratio of 13.74, a price-to-earnings-growth ratio of 0.65 and a beta of 1.46.

Ameriprise Financial (NYSE:AMP – Get Rating) last issued its quarterly earnings results on Thursday, January 26th. The financial services provider reported $6.94 earnings per share for the quarter, topping the consensus estimate of $6.35 by $0.59. Ameriprise Financial had a net margin of 17.91% and a return on equity of 70.64%. The company had revenue of $3.62 billion for the quarter, compared to the consensus estimate of $3.46 billion. During the same quarter in the prior year, the company earned $6.15 EPS. Ameriprise Financial’s quarterly revenue was down 3.8% on a year-over-year basis. On average, sell-side analysts forecast that Ameriprise Financial, Inc. will post 30.41 EPS for the current year.

Ameriprise Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, February 28th. Stockholders of record on Friday, February 10th were paid a dividend of $1.25 per share. The ex-dividend date was Thursday, February 9th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 1.62%. Ameriprise Financial’s payout ratio is 22.27%.

Ameriprise Financial Profile

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Ameriprise Financial, Inc operates as a holding company. The firm provides financial planning, asset management and insurance services to individuals, businesses and institutions. It operates through the following business segments: Advice & Wealth Management, Asset Management, Retirement & Protection Solutions, and Corporate & Other.