Public Employees Retirement System of Ohio Increases Stock Position in Ameriprise Financial, Inc. $AMP

Key Points

• The Public Employees Retirement System of Ohio increased its stake in Ameriprise Financial by 4.1% in Q2, owning 43,764 shares valued at approximately $23.36 million.
• Stock analysts have mixed views on Ameriprise Financial, with a consensus rating of "Hold" and price targets ranging from $434 to $601.
• CEO William F. Truscott sold nearly 10,000 shares of Ameriprise stock at ~ $507, which significantly reduced his position by 47.34%.

Public Employees Retirement System of Ohio increased its position in Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 4.1% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 43,764 shares of the financial services provider's stock after acquiring an additional 1,735 shares during the period. Public Employees Retirement System of Ohio's holdings in Ameriprise Financial were worth $23,358,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in AMP. Wealth Preservation Advisors LLC bought a new stake in Ameriprise Financial in the 1st quarter worth approximately $29,000. TD Capital Management LLC grew its position in Ameriprise Financial by 566.7% in the 1st quarter. TD Capital Management LLC now owns 60 shares of the financial services provider's stock worth $29,000 after purchasing an additional 51 shares during the period. WPG Advisers LLC bought a new stake in Ameriprise Financial in the 1st quarter worth approximately $33,000. Opal Wealth Advisors LLC bought a new stake in Ameriprise Financial in the 1st quarter worth approximately $36,000. Finally, TCTC Holdings LLC grew its position in Ameriprise Financial by 100.0% in the 1st quarter. TCTC Holdings LLC now owns 98 shares of the financial services provider's stock worth $47,000 after purchasing an additional 49 shares during the period. Institutional investors own 83.95% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on AMP shares. Keefe, Bruyette & Woods lifted their target price on shares of Ameriprise Financial from $520.00 to $550.00 and gave the stock a "market perform" rating in a research report on Wednesday, July 9th. Piper Sandler boosted their price objective on shares of Ameriprise Financial from $423.00 to $434.00 and gave the company an "underweight" rating in a research report on Thursday, July 3rd. Royal Bank Of Canada boosted their price objective on shares of Ameriprise Financial from $595.00 to $601.00 and gave the company an "outperform" rating in a research report on Wednesday, July 30th. Wall Street Zen raised shares of Ameriprise Financial from a "sell" rating to a "hold" rating in a research report on Friday, May 30th. Finally, William Blair downgraded shares of Ameriprise Financial from an "outperform" rating to a "market perform" rating in a research report on Friday, July 25th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, three have given a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $544.50.

Insider Buying and Selling at Ameriprise Financial

In other Ameriprise Financial news, CEO William F. Truscott sold 9,929 shares of the business's stock in a transaction on Tuesday, August 19th. The shares were sold at an average price of $506.89, for a total value of $5,032,910.81. Following the sale, the chief executive officer owned 11,047 shares in the company, valued at $5,599,613.83. The trade was a 47.34% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Heather J. Melloh sold 1,500 shares of the business's stock in a transaction on Thursday, September 4th. The stock was sold at an average price of $512.34, for a total transaction of $768,510.00. Following the completion of the sale, the executive vice president owned 2,562 shares in the company, valued at approximately $1,312,615.08. The trade was a 36.93% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.73% of the company's stock.

Ameriprise Financial Trading Up 0.1%

Shares of Ameriprise Financial stock opened at $492.16 on Friday. The company has a market capitalization of $46.40 billion, a P/E ratio of 15.31, a P/E/G ratio of 1.05 and a beta of 1.27. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.62 and a current ratio of 0.62. The company has a fifty day moving average of $507.59 and a 200 day moving average of $501.68. Ameriprise Financial, Inc. has a fifty-two week low of $396.14 and a fifty-two week high of $582.05.

Ameriprise Financial (NYSE:AMP - Get Free Report) last issued its earnings results on Thursday, July 24th. The financial services provider reported $9.11 earnings per share for the quarter, topping the consensus estimate of $9.00 by $0.11. The company had revenue of $4.49 billion during the quarter, compared to the consensus estimate of $4.33 billion. Ameriprise Financial had a net margin of 18.30% and a return on equity of 65.90%. Ameriprise Financial's quarterly revenue was up 2.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $8.72 EPS. On average, sell-side analysts anticipate that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current fiscal year.

Ameriprise Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, August 18th. Investors of record on Monday, August 4th were issued a $1.60 dividend. The ex-dividend date of this dividend was Monday, August 4th. This represents a $6.40 annualized dividend and a yield of 1.3%. Ameriprise Financial's dividend payout ratio is currently 19.91%.

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.

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