Teachers Retirement System of The State of Kentucky Sells 11,444 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

Teachers Retirement System of The State of Kentucky cut its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 14.1% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 69,978 shares of the financial services provider's stock after selling 11,444 shares during the quarter. Teachers Retirement System of The State of Kentucky owned approximately 0.07% of Ameriprise Financial worth $33,877,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. JPMorgan Chase & Co. lifted its stake in shares of Ameriprise Financial by 12.1% in the 4th quarter. JPMorgan Chase & Co. now owns 4,801,913 shares of the financial services provider's stock valued at $2,556,683,000 after purchasing an additional 516,437 shares during the period. Geode Capital Management LLC lifted its stake in shares of Ameriprise Financial by 1.5% in the 4th quarter. Geode Capital Management LLC now owns 2,647,627 shares of the financial services provider's stock valued at $1,407,607,000 after purchasing an additional 38,141 shares during the period. GAMMA Investing LLC lifted its stake in shares of Ameriprise Financial by 49,248.9% in the 1st quarter. GAMMA Investing LLC now owns 2,114,108 shares of the financial services provider's stock valued at $1,023,461,000 after purchasing an additional 2,109,824 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Ameriprise Financial by 1.7% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,447,863 shares of the financial services provider's stock valued at $770,886,000 after purchasing an additional 23,655 shares during the period. Finally, Norges Bank acquired a new position in shares of Ameriprise Financial in the 4th quarter valued at about $689,272,000. 83.95% of the stock is owned by institutional investors and hedge funds.

Ameriprise Financial Price Performance

NYSE AMP traded down $10.20 during trading hours on Monday, reaching $534.35. 329,221 shares of the stock traded hands, compared to its average volume of 490,293. The stock has a 50 day simple moving average of $521.30 and a two-hundred day simple moving average of $511.23. Ameriprise Financial, Inc. has a 1 year low of $385.74 and a 1 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. The company has a market cap of $50.88 billion, a price-to-earnings ratio of 18.16, a price-to-earnings-growth ratio of 1.16 and a beta of 1.23.

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

Ameriprise Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, May 19th. Stockholders of record on Monday, May 5th were paid a dividend of $1.60 per share. This is a boost from Ameriprise Financial's previous quarterly dividend of $1.48. This represents a $6.40 dividend on an annualized basis and a dividend yield of 1.20%. The ex-dividend date of this dividend was Monday, May 5th. Ameriprise Financial's dividend payout ratio (DPR) is 21.75%.

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

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Wall Street Zen raised Ameriprise Financial from a "sell" rating to a "hold" rating in a research report on Friday, May 30th. Morgan Stanley lowered Ameriprise Financial from an "equal weight" rating to an "underweight" rating and boosted their price objective for the stock from $462.00 to $530.00 in a report on Tuesday, July 15th. Piper Sandler boosted their price objective on Ameriprise Financial from $423.00 to $434.00 and gave the stock an "underweight" rating in a report on Thursday, July 3rd. Keefe, Bruyette & Woods upped their target price on Ameriprise Financial from $520.00 to $550.00 and gave the company a "market perform" rating in a report on Wednesday, July 9th. Finally, Royal Bank Of Canada upped their target price on Ameriprise Financial from $565.00 to $595.00 and gave the company an "outperform" rating in a report on Thursday, July 10th. Two analysts have rated the stock with a sell rating, four have issued a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $524.71.

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.