Public Employees Retirement System of Ohio Trims Stock Position in Ameriprise Financial, Inc. (NYSE:AMP)

Public Employees Retirement System of Ohio lowered its stake in Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 7.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 39,741 shares of the financial services provider's stock after selling 3,341 shares during the period. Public Employees Retirement System of Ohio's holdings in Ameriprise Financial were worth $21,159,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of AMP. JPMorgan Chase & Co. increased its holdings in shares of Ameriprise Financial by 9.1% in the third quarter. JPMorgan Chase & Co. now owns 4,285,476 shares of the financial services provider's stock valued at $2,013,359,000 after purchasing an additional 358,699 shares during the period. Atomi Financial Group Inc. increased its holdings in shares of Ameriprise Financial by 18.8% in the fourth quarter. Atomi Financial Group Inc. now owns 789 shares of the financial services provider's stock valued at $420,000 after purchasing an additional 125 shares during the period. Dakota Wealth Management increased its holdings in shares of Ameriprise Financial by 2.7% in the fourth quarter. Dakota Wealth Management now owns 798 shares of the financial services provider's stock valued at $425,000 after purchasing an additional 21 shares during the period. Janney Montgomery Scott LLC increased its holdings in shares of Ameriprise Financial by 4.2% in the fourth quarter. Janney Montgomery Scott LLC now owns 26,304 shares of the financial services provider's stock valued at $14,005,000 after purchasing an additional 1,061 shares during the period. Finally, Brighton Jones LLC grew its holdings in Ameriprise Financial by 6.9% during the fourth quarter. Brighton Jones LLC now owns 777 shares of the financial services provider's stock worth $413,000 after acquiring an additional 50 shares during the period. Institutional investors and hedge funds own 83.95% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on AMP shares. Raymond James raised Ameriprise Financial from a "market perform" rating to a "strong-buy" rating and set a $518.00 price objective on the stock in a report on Monday, April 7th. Piper Sandler upped their target price on Ameriprise Financial from $415.00 to $442.00 and gave the company an "underweight" rating in a report on Friday, January 31st. Morgan Stanley upped their target price on Ameriprise Financial from $507.00 to $542.00 and gave the company an "equal weight" rating in a report on Tuesday, March 4th. Keefe, Bruyette & Woods upped their target price on Ameriprise Financial from $510.00 to $520.00 and gave the company a "market perform" rating in a report on Wednesday, May 7th. Finally, Royal Bank of Canada upped their target price on Ameriprise Financial from $550.00 to $565.00 and gave the company an "outperform" rating in a report on Tuesday, April 29th. Two analysts have rated the stock with a sell rating, four have issued a hold rating, two have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $517.13.

Ameriprise Financial Price Performance

Shares of NYSE:AMP traded down $7.43 on Wednesday, hitting $510.06. The company had a trading volume of 409,763 shares, compared to its average volume of 493,440. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 1.01. Ameriprise Financial, Inc. has a 52-week low of $385.74 and a 52-week high of $582.05. The business has a 50 day moving average of $482.82 and a 200 day moving average of $519.37. The company has a market cap of $48.57 billion, a PE ratio of 15.43, a PEG ratio of 1.15 and a beta of 1.28.

Ameriprise Financial (NYSE:AMP - Get Free Report) last issued its quarterly earnings data on Thursday, April 24th. The financial services provider reported $9.50 earnings per share (EPS) for the quarter, beating 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 business had revenue of $4.35 billion for the quarter, compared to the consensus estimate of $4.45 billion. During the same period in the prior year, the business earned $8.39 earnings per share. The business's revenue was up 3.6% on a year-over-year basis. As a group, equities analysts anticipate that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current fiscal year.

Ameriprise Financial declared that its board has authorized a stock buyback program on Thursday, April 24th that allows the company to buyback $4.50 billion in outstanding shares. This buyback authorization allows the financial services provider to purchase up to 9.9% of its stock through open market purchases. Stock buyback programs are usually a sign that the company's management believes its stock is undervalued.

Ameriprise Financial Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, May 19th. Investors of record on Monday, May 5th were given a dividend of $1.60 per share. The ex-dividend date of this dividend was Monday, May 5th. This is an increase from Ameriprise Financial's previous quarterly dividend of $1.48. This represents a $6.40 annualized dividend and a yield of 1.25%. 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.