Kentucky Retirement Systems Sells 488 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

Kentucky Retirement Systems lessened its position in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 6.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,609 shares of the financial services provider’s stock after selling 488 shares during the period. Kentucky Retirement Systems’ holdings in Ameriprise Financial were worth $3,336,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Retirement Group LLC bought a new position in Ameriprise Financial during the 1st quarter worth about $25,000. Redmont Wealth Advisors LLC acquired a new position in shares of Ameriprise Financial during the 1st quarter worth about $28,000. Annapolis Financial Services LLC boosted its stake in shares of Ameriprise Financial by 928.6% during the 1st quarter. Annapolis Financial Services LLC now owns 72 shares of the financial services provider’s stock worth $32,000 after buying an additional 65 shares during the last quarter. Sound Income Strategies LLC acquired a new position in shares of Ameriprise Financial during the 1st quarter worth about $32,000. Finally, Benjamin Edwards Inc. acquired a new position in shares of Ameriprise Financial during the 1st quarter worth about $34,000. Institutional investors own 83.95% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on AMP shares. UBS Group reduced their price objective on shares of Ameriprise Financial from $500.00 to $495.00 and set a “buy” rating for the company in a research note on Tuesday, July 9th. Evercore ISI increased their price objective on shares of Ameriprise Financial from $400.00 to $445.00 and gave the stock an “in-line” rating in a research note on Thursday, April 11th. Argus increased their price objective on shares of Ameriprise Financial from $440.00 to $460.00 and gave the stock a “buy” rating in a research note on Monday, May 6th. Jefferies Financial Group increased their price objective on shares of Ameriprise Financial from $500.00 to $504.00 and gave the stock a “buy” rating in a research note on Friday, June 28th. Finally, Royal Bank of Canada raised their target price on shares of Ameriprise Financial from $470.00 to $480.00 and gave the company an “outperform” rating in a research note on Wednesday, April 24th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $462.89.

Ameriprise Financial Stock Performance

AMP stock traded down $2.13 during mid-day trading on Friday, hitting $439.54. 530,900 shares of the company were exchanged, compared to its average volume of 554,406. The business has a 50 day simple moving average of $431.95 and a 200-day simple moving average of $417.95. The company has a current ratio of 0.59, a quick ratio of 0.56 and a debt-to-equity ratio of 1.16. The stock has a market capitalization of $43.66 billion, a PE ratio of 14.96, a price-to-earnings-growth ratio of 0.69 and a beta of 1.37. Ameriprise Financial, Inc. has a 1-year low of $306.63 and a 1-year high of $449.94.

Ameriprise Financial (NYSE:AMP) last issued its quarterly earnings data on Wednesday, July 24th. The financial services provider reported $8.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $8.53 by $0.19. The firm had revenue of $4.39 billion during the quarter, compared to the consensus estimate of $4.24 billion. Ameriprise Financial had a net margin of 18.64% and a return on equity of 73.83%. The business’s revenue for the quarter was up 9.6% compared to the same quarter last year. During the same period last year, the business posted $7.44 earnings per share. On average, equities analysts forecast that Ameriprise Financial, Inc. will post 34.89 earnings per share for the current year.

Ameriprise Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 16th. Stockholders of record on Monday, August 5th will be issued a dividend of $1.48 per share. The ex-dividend date is Monday, August 5th. This represents a $5.92 annualized dividend and a dividend yield of 1.35%. Ameriprise Financial’s dividend payout ratio is presently 20.15%.

Insider Transactions at Ameriprise Financial

In other news, Director Robert Francis Sharpe, Jr. sold 1,500 shares of the firm’s stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $438.07, for a total transaction of $657,105.00. Following the transaction, the director now directly owns 11,000 shares of the company’s stock, valued at $4,818,770. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.73% of the company’s stock.

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.