New York State Teachers Retirement System Sells 7,255 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

New York State Teachers Retirement System lowered its position in Ameriprise Financial, Inc. (NYSE:AMP) by 6.8% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 98,947 shares of the financial services provider’s stock after selling 7,255 shares during the period. New York State Teachers Retirement System’s holdings in Ameriprise Financial were worth $46,486,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the business. Retirement Group LLC bought a new stake in shares of Ameriprise Financial in the first quarter worth about $25,000. DiNuzzo Private Wealth Inc. increased its stake in Ameriprise Financial by 268.8% during the 2nd quarter. DiNuzzo Private Wealth Inc. now owns 59 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 43 shares in the last quarter. Accordant Advisory Group Inc bought a new stake in Ameriprise Financial during the 2nd quarter worth approximately $26,000. Mascoma Wealth Management LLC raised its holdings in Ameriprise Financial by 153.8% during the 2nd quarter. Mascoma Wealth Management LLC now owns 66 shares of the financial services provider’s stock worth $28,000 after buying an additional 40 shares during the period. Finally, Bank & Trust Co bought a new position in Ameriprise Financial in the second quarter valued at approximately $29,000. Institutional investors and hedge funds own 83.95% of the company’s stock.

Insider Buying and Selling at Ameriprise Financial

In other news, VP William Davies sold 8,700 shares of the business’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $442.07, for a total transaction of $3,846,009.00. Following the transaction, the vice president now directly owns 13,199 shares in the company, valued at $5,834,881.93. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.96% of the company’s stock.

Ameriprise Financial Stock Down 0.4 %

NYSE:AMP opened at $514.04 on Thursday. Ameriprise Financial, Inc. has a twelve month low of $311.11 and a twelve month high of $524.89. The firm has a market capitalization of $50.47 billion, a price-to-earnings ratio of 19.73, a price-to-earnings-growth ratio of 0.81 and a beta of 1.35. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 1.16. The stock’s 50 day moving average price is $472.05 and its two-hundred day moving average price is $442.03.

Ameriprise Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Monday, November 4th will be given a dividend of $1.48 per share. This represents a $5.92 annualized dividend and a yield of 1.15%. The ex-dividend date is Monday, November 4th. Ameriprise Financial’s dividend payout ratio (DPR) is currently 22.73%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on AMP. Keefe, Bruyette & Woods increased their price objective on shares of Ameriprise Financial from $475.00 to $510.00 and gave the stock a “market perform” rating in a research report on Tuesday. The Goldman Sachs Group downgraded Ameriprise Financial from a “buy” rating to a “neutral” rating and dropped their price target for the company from $485.00 to $476.00 in a research note on Thursday, September 26th. Royal Bank of Canada upped their price objective on Ameriprise Financial from $535.00 to $550.00 and gave the stock an “outperform” rating in a research report on Friday, October 25th. UBS Group lifted their target price on Ameriprise Financial from $490.00 to $555.00 and gave the company a “buy” rating in a research report on Tuesday, October 8th. Finally, Morgan Stanley upped their price target on 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 investment analyst has rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $487.67.

Ameriprise Financial 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.