California State Teachers Retirement System Decreases Position in Ameriprise Financial, Inc. (NYSE:AMP)

California State Teachers Retirement System trimmed its holdings in Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 6.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 141,678 shares of the financial services provider's stock after selling 9,157 shares during the period. California State Teachers Retirement System owned about 0.15% of Ameriprise Financial worth $75,434,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. TCTC Holdings LLC bought a new stake in shares of Ameriprise Financial during the fourth quarter valued at approximately $26,000. Whipplewood Advisors LLC purchased a new position in Ameriprise Financial during the fourth quarter valued at $28,000. Rialto Wealth Management LLC purchased a new stake in Ameriprise Financial in the 4th quarter worth $28,000. Wingate Wealth Advisors Inc. bought a new position in shares of Ameriprise Financial during the 4th quarter valued at about $30,000. Finally, Sound Income Strategies LLC purchased a new stake in shares of Ameriprise Financial during the 4th quarter worth approximately $36,000. Institutional investors own 83.95% of the company's stock.

Insider Transactions at Ameriprise Financial

In other Ameriprise Financial news, insider Joseph Edward Sweeney sold 4,636 shares of the firm's stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $539.07, for a total value of $2,499,128.52. Following the completion of the sale, the insider now directly owns 7,237 shares of the company's stock, valued at $3,901,249.59. This trade represents a 39.05 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Robert Francis Sharpe, Jr. sold 1,000 shares of the business's stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $523.12, for a total transaction of $523,120.00. Following the transaction, the director now directly owns 10,000 shares in the company, valued at approximately $5,231,200. The trade was a 9.09 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 11,636 shares of company stock valued at $6,263,989. Corporate insiders own 0.57% of the company's stock.

Analysts Set New Price Targets

AMP has been the topic of a number of research analyst reports. UBS Group cut shares of Ameriprise Financial from a "buy" rating to a "neutral" rating and cut their price target for the stock from $580.00 to $570.00 in a report on Monday, January 6th. Royal Bank of Canada lifted their price objective on shares of Ameriprise Financial from $550.00 to $565.00 and gave the company an "outperform" rating in a report on Tuesday. Morgan Stanley boosted their price target on Ameriprise Financial from $507.00 to $542.00 and gave the stock an "equal weight" rating in a research report on Tuesday, March 4th. Piper Sandler raised their price target on shares of Ameriprise Financial from $415.00 to $442.00 and gave the company an "underweight" rating in a report on Friday, January 31st. Finally, Raymond James raised Ameriprise Financial from a "market perform" rating to a "strong-buy" rating and set a $518.00 target price on the stock in a research report on Monday, April 7th. One analyst has rated the stock with a sell rating, four have issued a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Ameriprise Financial presently has a consensus rating of "Hold" and an average price target of $509.67.

Ameriprise Financial Stock Performance

NYSE AMP traded up $13.75 on Friday, reaching $484.28. 341,533 shares of the company's stock traded hands, compared to its average volume of 490,974. 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 0.59 and a current ratio of 0.59. The firm has a market cap of $46.40 billion, a price-to-earnings ratio of 14.65, a P/E/G ratio of 1.15 and a beta of 1.23. The stock has a 50 day moving average price of $481.46 and a 200-day moving average price of $521.33.

Ameriprise Financial (NYSE:AMP - Get Free Report) last posted its earnings results on Thursday, April 24th. The financial services provider reported $9.50 EPS for the quarter, topping the consensus estimate of $9.08 by $0.42. Ameriprise Financial had a return on equity of 69.35% and a net margin of 19.70%. The firm had revenue of $4.35 billion for the quarter, compared to analyst estimates of $4.45 billion. During the same period last year, the company earned $8.39 earnings per share. Ameriprise Financial's revenue for the quarter was up 3.6% compared to the same quarter last year. Equities research analysts predict that Ameriprise Financial, Inc. will post 38.64 EPS for the current fiscal year.

Ameriprise Financial declared that its Board of Directors has authorized a stock buyback program on Thursday, April 24th that authorizes the company to buyback $4.50 billion in shares. This buyback authorization authorizes the financial services provider to reacquire up to 9.9% of its shares through open market purchases. Shares buyback programs are usually an indication that the company's board of directors believes its stock is undervalued.

Ameriprise Financial Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, May 19th. Stockholders of record on Monday, May 5th will be given a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a dividend yield of 1.32%. This is a boost from Ameriprise Financial's previous quarterly dividend of $1.48. The ex-dividend date is Monday, May 5th. Ameriprise Financial's dividend payout ratio is 21.75%.

Ameriprise Financial 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.