New York State Teachers Retirement System Has $50.80 Million Stake in Ameriprise Financial, Inc. (NYSE:AMP)

New York State Teachers Retirement System trimmed its stake in Ameriprise Financial, Inc. (NYSE:AMP) by 3.6% during the 4th quarter, HoldingsChannel.com reports. The firm owned 95,417 shares of the financial services provider’s stock after selling 3,530 shares during the period. New York State Teachers Retirement System’s holdings in Ameriprise Financial were worth $50,803,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Czech National Bank boosted its position in shares of Ameriprise Financial by 5.2% during the 4th quarter. Czech National Bank now owns 21,035 shares of the financial services provider’s stock valued at $11,200,000 after acquiring an additional 1,033 shares in the last quarter. Bridgewater Associates LP boosted its position in shares of Ameriprise Financial by 97.8% during the 3rd quarter. Bridgewater Associates LP now owns 50,510 shares of the financial services provider’s stock valued at $23,730,000 after acquiring an additional 24,968 shares in the last quarter. Empowered Funds LLC boosted its position in shares of Ameriprise Financial by 19.9% during the 3rd quarter. Empowered Funds LLC now owns 8,021 shares of the financial services provider’s stock valued at $3,768,000 after acquiring an additional 1,329 shares in the last quarter. SpiderRock Advisors LLC boosted its position in shares of Ameriprise Financial by 136.3% during the 3rd quarter. SpiderRock Advisors LLC now owns 3,237 shares of the financial services provider’s stock valued at $1,521,000 after acquiring an additional 1,867 shares in the last quarter. Finally, Aljian Capital Management LLC acquired a new stake in shares of Ameriprise Financial during the 3rd quarter valued at about $458,000. 83.95% of the stock is currently owned by institutional investors and hedge funds.

Ameriprise Financial Price Performance

NYSE:AMP opened at $546.69 on Friday. Ameriprise Financial, Inc. has a 12 month low of $385.74 and a 12 month high of $582.05. The firm has a market cap of $53.03 billion, a PE ratio of 16.54, a price-to-earnings-growth ratio of 1.18 and a beta of 1.36. The company has a quick ratio of 0.65, a current ratio of 0.59 and a debt-to-equity ratio of 1.01. The company’s 50-day moving average price is $541.49 and its two-hundred day moving average price is $504.41.

Ameriprise Financial (NYSE:AMP) last announced its earnings results on Wednesday, January 29th. The financial services provider reported $9.36 earnings per share for the quarter, topping 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%. On average, equities analysts anticipate that Ameriprise Financial, Inc. will post 38.55 EPS for the current fiscal year.

Ameriprise Financial Dividend Announcement

The business 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. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.08%. The ex-dividend date is Monday, February 10th. Ameriprise Financial’s dividend payout ratio is presently 17.91%.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Keefe, Bruyette & Woods lifted their target price on shares of Ameriprise Financial from $560.00 to $570.00 and gave the company a “market perform” rating in a research report on Monday, February 3rd. Royal Bank of Canada reiterated an “outperform” rating and set a $625.00 target price on shares of Ameriprise Financial in a research report on Monday, February 3rd. Piper Sandler lifted their target price on shares of Ameriprise Financial from $415.00 to $442.00 and gave the company an “underweight” rating in a research report on Friday, January 31st. Finally, UBS Group lowered shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and reduced their price target for the company from $580.00 to $570.00 in a research report on Monday, January 6th. One equities research 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. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $510.44.

Insiders Place Their Bets

In other Ameriprise Financial news, Director Robert Francis Sharpe, Jr. sold 1,000 shares of the business’s stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $523.12, for a total value of $523,120.00. Following the completion of the transaction, the director now directly owns 10,000 shares of the company’s stock, valued at approximately $5,231,200. The trade was a 9.09 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO William F. Truscott sold 6,000 shares of the business’s stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $540.29, for a total transaction of $3,241,740.00. Following the sale, the chief executive officer now directly owns 14,023 shares of the company’s stock, valued at approximately $7,576,486.67. This trade represents a 29.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 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.