Louisiana State Employees Retirement System Decreases Stake in Ameriprise Financial, Inc. (NYSE:AMP)

Louisiana State Employees Retirement System lowered its stake in Ameriprise Financial, Inc. (NYSE:AMP) by 5.5% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 5,200 shares of the financial services provider’s stock after selling 300 shares during the period. Louisiana State Employees Retirement System’s holdings in Ameriprise Financial were worth $2,769,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in AMP. Wingate Wealth Advisors Inc. purchased a new position in shares of Ameriprise Financial in the fourth quarter worth $30,000. Oakworth Capital Inc. purchased a new position in shares of Ameriprise Financial in the third quarter worth $31,000. Sound Income Strategies LLC purchased a new position in shares of Ameriprise Financial in the fourth quarter worth $36,000. Golden State Wealth Management LLC purchased a new position in shares of Ameriprise Financial in the fourth quarter worth $38,000. Finally, Peterson Financial Group Inc. purchased a new position in shares of Ameriprise Financial in the third quarter worth $45,000. Hedge funds and other institutional investors own 83.95% of the company’s stock.

Insider Activity

In other 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 value of $3,241,740.00. Following 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.73% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have issued reports on AMP. Piper Sandler raised their price target on shares of Ameriprise Financial from $415.00 to $442.00 and gave the stock an “underweight” rating in a report on Friday, January 31st. Morgan Stanley raised their target price on shares of Ameriprise Financial from $440.00 to $502.00 and gave the stock an “equal weight” rating in a report on Thursday, October 17th. Royal Bank of Canada reissued an “outperform” rating and set a $625.00 target price on shares of Ameriprise Financial in a report on Monday, February 3rd. UBS Group cut shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $580.00 to $570.00 in a report on Monday, January 6th. Finally, Keefe, Bruyette & Woods raised their target price on shares of Ameriprise Financial from $560.00 to $570.00 and gave the stock a “market perform” rating in a report on Monday, February 3rd. One research analyst has rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, Ameriprise Financial has an average rating of “Hold” and a consensus target price of $510.44.

Ameriprise Financial Stock Up 2.6 %

AMP opened at $540.66 on Friday. Ameriprise Financial, Inc. has a fifty-two week low of $385.74 and a fifty-two week high of $582.05. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.65 and a current ratio of 0.59. The company has a fifty day moving average of $541.99 and a two-hundred day moving average of $504.16. The stock has a market capitalization of $52.45 billion, a price-to-earnings ratio of 16.35, a PEG ratio of 1.18 and a beta of 1.36.

Ameriprise Financial (NYSE:AMP) last released 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%. On average, research analysts expect that Ameriprise Financial, Inc. will post 38.55 earnings per share for the current year.

Ameriprise Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Monday, February 10th will be given a $1.48 dividend. The ex-dividend date of this dividend is Monday, February 10th. This represents a $5.92 annualized dividend and a dividend yield of 1.09%. Ameriprise Financial’s dividend payout ratio (DPR) is 17.91%.

About Ameriprise Financial

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.