Teacher Retirement System of Texas Buys 21,762 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

Teacher Retirement System of Texas boosted its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 138.7% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 37,449 shares of the financial services provider's stock after buying an additional 21,762 shares during the quarter. Teacher Retirement System of Texas' holdings in Ameriprise Financial were worth $18,129,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. University of Texas Texas AM Investment Management Co. bought a new position in shares of Ameriprise Financial in the 4th quarter worth about $26,000. TCTC Holdings LLC acquired a new position in shares of Ameriprise Financial during the fourth quarter valued at about $26,000. Rialto Wealth Management LLC bought a new position in shares of Ameriprise Financial during the 4th quarter worth about $28,000. Sunbeam Capital Management LLC acquired a new stake in shares of Ameriprise Financial in the 4th quarter valued at about $31,000. Finally, SRS Capital Advisors Inc. boosted its holdings in Ameriprise Financial by 40.0% in the fourth quarter. SRS Capital Advisors Inc. now owns 70 shares of the financial services provider's stock worth $37,000 after acquiring an additional 20 shares in the last quarter. Institutional investors own 83.95% of the company's stock.

Wall Street Analyst Weigh In

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

Ameriprise Financial Price Performance

AMP stock opened at $543.06 on Friday. The firm has a 50 day simple moving average of $509.70 and a two-hundred day simple moving average of $511.32. The stock has a market cap of $51.71 billion, a PE ratio of 18.45, a P/E/G ratio of 2.03 and a beta of 1.23. Ameriprise Financial, Inc. has a one year low of $385.74 and a one year high of $582.05. The company has a debt-to-equity ratio of 1.10, a current ratio of 0.60 and a quick ratio of 0.60.

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

Ameriprise Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, May 19th. Stockholders 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 a positive change from Ameriprise Financial's previous quarterly dividend of $1.48. This represents a $6.40 annualized dividend and a dividend yield of 1.18%. Ameriprise Financial's dividend payout ratio is 21.75%.

Ameriprise Financial announced that its board has authorized a share buyback program on Thursday, April 24th that permits the company to repurchase $4.50 billion in shares. This repurchase authorization permits the financial services provider to buy up to 9.9% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company's board of directors believes its stock is undervalued.

Ameriprise Financial Company 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.

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