New York State Teachers Retirement System Has $44.04 Million Position in Ameriprise Financial, Inc. (NYSE:AMP)

New York State Teachers Retirement System decreased its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 4.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 90,972 shares of the financial services provider's stock after selling 4,445 shares during the quarter. New York State Teachers Retirement System owned about 0.09% of Ameriprise Financial worth $44,040,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. TCTC Holdings LLC bought a new stake in shares of Ameriprise Financial in the fourth quarter valued at approximately $26,000. University of Texas Texas AM Investment Management Co. acquired a new stake in shares of Ameriprise Financial during the 4th quarter worth approximately $26,000. Rialto Wealth Management LLC bought a new stake in shares of Ameriprise Financial during the fourth quarter valued at approximately $28,000. Sunbeam Capital Management LLC bought a new position in Ameriprise Financial in the fourth quarter worth $31,000. Finally, Opal Wealth Advisors LLC acquired a new stake in Ameriprise Financial during the first quarter worth $36,000. Institutional investors own 83.95% of the company's stock.

Ameriprise Financial Price Performance

Shares of AMP traded up $0.62 during mid-day trading on Thursday, hitting $543.06. 261,445 shares of the company traded hands, compared to its average volume of 494,931. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 1.10. The stock has a market capitalization of $51.71 billion, a price-to-earnings ratio of 18.45, a PEG ratio of 2.01 and a beta of 1.23. The business has a 50-day moving average of $506.77 and a 200 day moving average of $511.36. Ameriprise Financial, Inc. has a one year low of $385.74 and a one year high of $582.05.

Ameriprise Financial (NYSE:AMP - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The financial services provider reported $9.50 EPS for the quarter, beating analysts' consensus estimates of $9.08 by $0.42. The firm had revenue of $4.35 billion for the quarter, compared to analyst estimates of $4.45 billion. Ameriprise Financial had a return on equity of 68.93% and a net margin of 17.14%. The business's quarterly revenue was up 3.6% compared to the same quarter last year. During the same period last year, the company earned $8.39 EPS. As a group, equities analysts expect that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current fiscal year.

Ameriprise Financial declared that its board has initiated a share repurchase plan 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 repurchase up to 9.9% of its stock through open market purchases. Stock buyback plans are generally an indication that the company's management believes its stock is undervalued.

Ameriprise Financial Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, May 19th. Investors of record on Monday, May 5th were issued a $1.60 dividend. This is a boost from Ameriprise Financial's previous quarterly dividend of $1.48. The ex-dividend date of this dividend was Monday, May 5th. This represents a $6.40 annualized dividend and a yield of 1.18%. Ameriprise Financial's dividend payout ratio (DPR) is currently 21.75%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. Keefe, Bruyette & Woods increased their price objective on shares of Ameriprise Financial from $510.00 to $520.00 and gave the company a "market perform" rating in a research note on Wednesday, May 7th. Royal Bank Of Canada increased their price target on shares of Ameriprise Financial from $550.00 to $565.00 and gave the stock an "outperform" rating in a research report on Tuesday, April 29th. Wall Street Zen raised Ameriprise Financial from a "sell" rating to a "hold" rating in a report on Friday, May 30th. Raymond James Financial upgraded Ameriprise Financial from a "market perform" rating to a "strong-buy" rating and set a $518.00 target price for the company in a research report on Monday, April 7th. Finally, Piper Sandler boosted their price target on Ameriprise Financial from $423.00 to $434.00 and gave the company an "underweight" rating in a research note on Thursday. One analyst has rated the stock with a sell rating, five have issued a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $517.86.

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.