Louisiana State Employees Retirement System Sells 300 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

Louisiana State Employees Retirement System trimmed its position in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 5.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,200 shares of the financial services provider’s stock after selling 300 shares during the period. Louisiana State Employees Retirement System’s holdings in Ameriprise Financial were worth $2,769,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in AMP. Exchange Traded Concepts LLC bought a new position in Ameriprise Financial during the 3rd quarter valued at about $108,000. Wesbanco Bank Inc. grew its holdings in Ameriprise Financial by 9.9% during the 3rd quarter. Wesbanco Bank Inc. now owns 1,169 shares of the financial services provider’s stock valued at $549,000 after purchasing an additional 105 shares during the last quarter. Creative Planning grew its holdings in Ameriprise Financial by 1.6% during the 3rd quarter. Creative Planning now owns 22,571 shares of the financial services provider’s stock valued at $10,604,000 after purchasing an additional 348 shares during the last quarter. Asset Dedication LLC grew its holdings in Ameriprise Financial by 74.3% during the 3rd quarter. Asset Dedication LLC now owns 176 shares of the financial services provider’s stock valued at $83,000 after purchasing an additional 75 shares during the last quarter. Finally, Bfsg LLC boosted its position in Ameriprise Financial by 13.1% in the 3rd quarter. Bfsg LLC now owns 4,477 shares of the financial services provider’s stock valued at $2,103,000 after buying an additional 520 shares during the period. 83.95% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. UBS Group lowered shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $580.00 to $570.00 in a research report on Monday, January 6th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $625.00 target price on shares of Ameriprise Financial in a research report on Monday, February 3rd. Keefe, Bruyette & Woods raised their target price on shares of Ameriprise Financial from $560.00 to $570.00 and gave the stock a “market perform” rating in a research report on Monday, February 3rd. Piper Sandler raised their target price on shares of Ameriprise Financial from $415.00 to $442.00 and gave the stock an “underweight” rating in a research report on Friday, January 31st. Finally, Morgan Stanley raised their target price on shares of Ameriprise Financial from $440.00 to $502.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 17th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, Ameriprise Financial currently has a consensus rating of “Hold” and a consensus target price of $510.44.

Insider Buying and Selling at Ameriprise Financial

In other Ameriprise Financial news, CEO William F. Truscott sold 6,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $540.29, for a total value of $3,241,740.00. Following the completion of the sale, the chief executive officer now directly owns 14,023 shares in the company, valued at $7,576,486.67. This trade represents a 29.97 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.73% of the stock is owned by insiders.

Ameriprise Financial Price Performance

NYSE AMP opened at $540.66 on Friday. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.65 and a current ratio of 0.59. The firm’s 50 day moving average price is $541.99 and its 200-day moving average price is $504.16. Ameriprise Financial, Inc. has a 52-week low of $385.74 and a 52-week high of $582.05. The company has a market cap of $52.45 billion, a PE ratio of 16.35, a P/E/G ratio of 1.18 and a beta of 1.36.

Ameriprise Financial (NYSE:AMP) last released its quarterly earnings data on Wednesday, January 29th. The financial services provider reported $9.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $9.16 by $0.20. Ameriprise Financial had a net margin of 19.70% and a return on equity of 69.35%. Sell-side analysts forecast that Ameriprise Financial, Inc. will post 38.55 EPS for the current fiscal year.

Ameriprise Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Monday, February 10th will be paid a $1.48 dividend. The ex-dividend date is Monday, February 10th. This represents a $5.92 annualized dividend and a yield of 1.09%. Ameriprise Financial’s dividend payout ratio (DPR) is 17.91%.

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.