California State Teachers Retirement System Sells 2,477 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

California State Teachers Retirement System cut its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 1.6% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 156,149 shares of the financial services provider’s stock after selling 2,477 shares during the period. California State Teachers Retirement System owned 0.16% of Ameriprise Financial worth $68,462,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of AMP. B. Riley Wealth Advisors Inc. grew its stake in shares of Ameriprise Financial by 33.4% in the first quarter. B. Riley Wealth Advisors Inc. now owns 4,238 shares of the financial services provider’s stock valued at $1,858,000 after buying an additional 1,062 shares in the last quarter. Captrust Financial Advisors boosted its position in shares of Ameriprise Financial by 168.5% during the 1st quarter. Captrust Financial Advisors now owns 142,895 shares of the financial services provider’s stock worth $62,651,000 after acquiring an additional 89,679 shares in the last quarter. Paloma Partners Management Co acquired a new stake in shares of Ameriprise Financial during the 1st quarter worth approximately $1,195,000. SVB Wealth LLC lifted its stake in Ameriprise Financial by 2.4% in the 1st quarter. SVB Wealth LLC now owns 8,662 shares of the financial services provider’s stock valued at $3,798,000 after purchasing an additional 201 shares during the last quarter. Finally, Mount Yale Investment Advisors LLC raised its stake in shares of Ameriprise Financial by 3.9% during the first quarter. Mount Yale Investment Advisors LLC now owns 4,460 shares of the financial services provider’s stock valued at $1,956,000 after acquiring an additional 166 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 Ameriprise Financial news, Director Robert Francis Sharpe, Jr. sold 1,500 shares of the stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $438.07, for a total value of $657,105.00. Following the sale, the director now directly owns 11,000 shares of the company’s stock, valued at $4,818,770. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.73% of the stock is owned by company insiders.

Ameriprise Financial Stock Up 0.6 %

Shares of AMP stock traded up $2.58 during trading hours on Thursday, reaching $432.65. 3,603 shares of the stock were exchanged, compared to its average volume of 487,709. The firm has a market capitalization of $42.97 billion, a P/E ratio of 14.63, a P/E/G ratio of 0.75 and a beta of 1.37. Ameriprise Financial, Inc. has a 12-month low of $306.63 and a 12-month high of $449.94. The business’s fifty day moving average is $431.72 and its two-hundred day moving average is $419.08. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.59 and a quick ratio of 0.56.

Ameriprise Financial (NYSE:AMP) last released its quarterly earnings data on Wednesday, July 24th. The financial services provider reported $8.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $8.53 by $0.19. The firm had revenue of $4.39 billion during the quarter, compared to analysts’ expectations of $4.24 billion. Ameriprise Financial had a return on equity of 73.83% and a net margin of 18.64%. Ameriprise Financial’s revenue was up 9.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $7.44 earnings per share. As a group, research analysts expect that Ameriprise Financial, Inc. will post 34.77 EPS for the current fiscal year.

Ameriprise Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 16th. Investors of record on Monday, August 5th will be given a dividend of $1.48 per share. This represents a $5.92 annualized dividend and a yield of 1.37%. The ex-dividend date of this dividend is Monday, August 5th. Ameriprise Financial’s dividend payout ratio (DPR) is presently 20.15%.

Analysts Set New Price Targets

A number of research firms have commented on AMP. Argus raised their price target on shares of Ameriprise Financial from $440.00 to $460.00 and gave the stock a “buy” rating in a report on Monday, May 6th. Evercore ISI upped their price target on shares of Ameriprise Financial from $400.00 to $445.00 and gave the company an “in-line” rating in a research note on Thursday, April 11th. UBS Group lowered their target price on shares of Ameriprise Financial from $500.00 to $495.00 and set a “buy” rating on the stock in a research note on Tuesday, July 9th. Morgan Stanley reduced their target price on shares of Ameriprise Financial from $444.00 to $440.00 and set an “equal weight” rating on the stock in a report on Monday. Finally, Piper Sandler cut their price target on shares of Ameriprise Financial from $390.00 to $387.00 and set an “underweight” rating on the stock in a report on Friday, June 28th. One analyst has rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $464.33.

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.