Ameriprise Financial, Inc. (NYSE:AMP) Shares Sold by Texas Permanent School Fund Corp

Texas Permanent School Fund Corp trimmed its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 0.5% during the first quarter, Holdings Channel reports. The firm owned 23,186 shares of the financial services provider’s stock after selling 128 shares during the quarter. Texas Permanent School Fund Corp’s holdings in Ameriprise Financial were worth $10,166,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently modified their holdings of AMP. Venture Visionary Partners LLC grew its position in shares of Ameriprise Financial by 2.9% during the fourth quarter. Venture Visionary Partners LLC now owns 14,874 shares of the financial services provider’s stock worth $5,650,000 after acquiring an additional 416 shares during the last quarter. 17 Capital Partners LLC bought a new position in shares of Ameriprise Financial during the fourth quarter worth about $2,078,000. Vanguard Personalized Indexing Management LLC grew its position in shares of Ameriprise Financial by 0.5% during the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 13,600 shares of the financial services provider’s stock worth $5,166,000 after acquiring an additional 73 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in shares of Ameriprise Financial by 3.9% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 110,995 shares of the financial services provider’s stock worth $42,238,000 after acquiring an additional 4,203 shares during the last quarter. Finally, Cerity Partners LLC grew its position in shares of Ameriprise Financial by 280.6% during the fourth quarter. Cerity Partners LLC now owns 30,502 shares of the financial services provider’s stock worth $11,585,000 after acquiring an additional 22,487 shares during the last quarter. 83.95% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on AMP shares. The Goldman Sachs Group increased their target price on shares of Ameriprise Financial from $437.00 to $488.00 and gave the company a “buy” rating in a research report on Wednesday, March 27th. Keefe, Bruyette & Woods increased their target price on shares of Ameriprise Financial from $460.00 to $470.00 and gave the company a “market perform” rating in a research report on Monday. Morgan Stanley increased their target price on shares of Ameriprise Financial from $400.00 to $437.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 9th. Evercore ISI upped their price target on shares of Ameriprise Financial from $400.00 to $445.00 and gave the company an “in-line” rating in a report on Thursday, April 11th. Finally, Argus upped their price target on shares of Ameriprise Financial from $440.00 to $460.00 and gave the company a “buy” rating in a report on Monday, May 6th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $462.89.

Ameriprise Financial Stock Up 0.7 %

Shares of NYSE AMP traded up $3.13 during mid-day trading on Friday, reaching $442.95. The company had a trading volume of 7,365 shares, compared to its average volume of 470,275. The stock has a fifty day moving average of $432.29 and a two-hundred day moving average of $413.93. Ameriprise Financial, Inc. has a 12-month low of $306.63 and a 12-month high of $446.32. The company has a market capitalization of $43.99 billion, a price-to-earnings ratio of 14.97, a PEG ratio of 0.75 and a beta of 1.37. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.56 and a current ratio of 0.56.

Ameriprise Financial (NYSE:AMP) last released its quarterly earnings data on Wednesday, April 24th. The financial services provider reported $8.39 EPS for the quarter, topping analysts’ consensus estimates of $8.10 by $0.29. Ameriprise Financial had a return on equity of 75.97% and a net margin of 19.42%. The firm had revenue of $4.15 billion for the quarter, compared to the consensus estimate of $4.15 billion. During the same quarter in the prior year, the company posted $7.25 earnings per share. The firm’s revenue was up 10.8% on a year-over-year basis. As a group, equities research analysts expect that Ameriprise Financial, Inc. will post 34.93 EPS for the current year.

Ameriprise Financial Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 17th. Shareholders of record on Monday, May 6th were issued a dividend of $1.48 per share. This represents a $5.92 annualized dividend and a yield of 1.34%. The ex-dividend date of this dividend was Friday, May 3rd. This is an increase from Ameriprise Financial’s previous quarterly dividend of $1.35. Ameriprise Financial’s dividend payout ratio (DPR) is 20.15%.

Insider Buying and Selling at Ameriprise Financial

In other Ameriprise Financial news, Director Robert Francis Sharpe, Jr. sold 1,500 shares of the stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $438.07, for a total transaction of $657,105.00. Following the transaction, the director now owns 11,000 shares in the company, valued at $4,818,770. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.73% of the company’s stock.

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.