Ameriprise Financial, Inc. $AMP Shares Purchased by California Public Employees Retirement System

California Public Employees Retirement System boosted its position in Ameriprise Financial, Inc. (NYSE:AMP) by 1.4% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 180,318 shares of the financial services provider’s stock after acquiring an additional 2,528 shares during the period. California Public Employees Retirement System owned about 0.19% of Ameriprise Financial worth $88,581,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in shares of Ameriprise Financial by 0.9% during the second quarter. Vanguard Group Inc. now owns 12,432,261 shares of the financial services provider’s stock worth $6,635,471,000 after purchasing an additional 111,386 shares during the last quarter. JPMorgan Chase & Co. increased its stake in Ameriprise Financial by 7.7% in the second quarter. JPMorgan Chase & Co. now owns 6,270,995 shares of the financial services provider’s stock valued at $3,347,019,000 after purchasing an additional 446,080 shares during the last quarter. Norges Bank purchased a new position in Ameriprise Financial during the second quarter worth about $693,736,000. Boston Partners boosted its stake in Ameriprise Financial by 1.1% in the 3rd quarter. Boston Partners now owns 1,193,048 shares of the financial services provider’s stock worth $586,083,000 after buying an additional 13,172 shares during the last quarter. Finally, Federated Hermes Inc. boosted its stake in Ameriprise Financial by 29.3% in the 3rd quarter. Federated Hermes Inc. now owns 966,163 shares of the financial services provider’s stock worth $474,628,000 after buying an additional 219,080 shares during the last quarter. 83.95% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CEO William F. Truscott sold 5,000 shares of the business’s stock in a transaction on Tuesday, February 10th. The shares were sold at an average price of $532.08, for a total transaction of $2,660,400.00. Following the transaction, the chief executive officer directly owned 12,149 shares of the company’s stock, valued at approximately $6,464,239.92. The trade was a 29.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Gumer Alvero sold 4,658 shares of the company’s stock in a transaction on Monday, February 9th. The shares were sold at an average price of $542.88, for a total transaction of $2,528,735.04. Following the completion of the transaction, the insider owned 4,621 shares of the company’s stock, valued at $2,508,648.48. This trade represents a 50.20% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 16,658 shares of company stock worth $8,998,675 over the last ninety days. 0.57% of the stock is owned by company insiders.

Ameriprise Financial Stock Performance

Shares of NYSE:AMP opened at $438.44 on Tuesday. The business has a 50-day moving average of $490.18 and a two-hundred day moving average of $484.16. The firm has a market capitalization of $39.98 billion, a PE ratio of 12.06, a P/E/G ratio of 1.03 and a beta of 1.27. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.68 and a quick ratio of 0.68. Ameriprise Financial, Inc. has a 12 month low of $396.14 and a 12 month high of $550.18.

Ameriprise Financial (NYSE:AMP) last released its quarterly earnings data on Thursday, January 29th. The financial services provider reported $10.83 earnings per share for the quarter, beating the consensus estimate of $10.33 by $0.50. The business had revenue of $4.92 billion for the quarter, compared to analyst estimates of $4.75 billion. Ameriprise Financial had a return on equity of 63.04% and a net margin of 19.28%.The company’s revenue was up 10.2% compared to the same quarter last year. During the same period in the previous year, the company posted $9.54 EPS. As a group, research analysts forecast that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current year.

Ameriprise Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 27th. Shareholders of record on Monday, February 9th were paid a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a yield of 1.5%. The ex-dividend date was Monday, February 9th. Ameriprise Financial’s payout ratio is currently 17.60%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. Morgan Stanley upped their price objective on shares of Ameriprise Financial from $484.00 to $485.00 and gave the company an “underweight” rating in a research note on Monday, December 22nd. Jefferies Financial Group raised their target price on shares of Ameriprise Financial from $600.00 to $620.00 and gave the stock a “buy” rating in a research report on Monday, February 2nd. Piper Sandler upgraded shares of Ameriprise Financial from an “underweight” rating to a “neutral” rating and boosted their target price for the company from $434.00 to $530.00 in a report on Friday, January 30th. Raymond James Financial set a $582.00 price target on shares of Ameriprise Financial and gave the stock a “strong-buy” rating in a research report on Wednesday, February 11th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and set a $605.00 price target (up from $580.00) on shares of Ameriprise Financial in a research note on Monday, February 2nd. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Ameriprise Financial has a consensus rating of “Hold” and a consensus target price of $555.67.

Ameriprise Financial Company Profile

Ameriprise Financial, Inc is a diversified financial services company headquartered in Minneapolis, Minnesota. The firm provides a range of advice-based wealth management, asset management and insurance products to individual and institutional clients. Its business model centers on delivering financial planning and investment advice through a network of financial advisors alongside proprietary product offerings designed to meet retirement, protection and accumulation needs.

Core products and services include comprehensive financial planning and advisory services, managed investment portfolios, retirement planning solutions, annuities and life insurance products.