New Mexico Educational Retirement Board Has $2.49 Million Position in Ameriprise Financial, Inc. (NYSE:AMP)

New Mexico Educational Retirement Board cut its holdings in Ameriprise Financial, Inc. (NYSE:AMP) by 4.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 4,681 shares of the financial services provider’s stock after selling 200 shares during the quarter. New Mexico Educational Retirement Board’s holdings in Ameriprise Financial were worth $2,492,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Czech National Bank increased its stake in shares of Ameriprise Financial by 5.2% in the fourth quarter. Czech National Bank now owns 21,035 shares of the financial services provider’s stock valued at $11,200,000 after buying an additional 1,033 shares in the last quarter. Bridgewater Associates LP increased its stake in shares of Ameriprise Financial by 97.8% in the third quarter. Bridgewater Associates LP now owns 50,510 shares of the financial services provider’s stock valued at $23,730,000 after buying an additional 24,968 shares in the last quarter. Empowered Funds LLC increased its stake in shares of Ameriprise Financial by 19.9% in the third quarter. Empowered Funds LLC now owns 8,021 shares of the financial services provider’s stock valued at $3,768,000 after buying an additional 1,329 shares in the last quarter. SpiderRock Advisors LLC increased its stake in shares of Ameriprise Financial by 136.3% in the third quarter. SpiderRock Advisors LLC now owns 3,237 shares of the financial services provider’s stock valued at $1,521,000 after buying an additional 1,867 shares in the last quarter. Finally, Aljian Capital Management LLC acquired a new stake in shares of Ameriprise Financial in the third quarter valued at $458,000. 83.95% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Ameriprise Financial

In related news, Director Robert Francis Sharpe, Jr. sold 1,000 shares of Ameriprise Financial stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $523.12, for a total value of $523,120.00. Following the sale, the director now owns 10,000 shares of the company’s stock, valued at approximately $5,231,200. This trade represents a 9.09 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO William F. Truscott sold 6,000 shares of Ameriprise Financial 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 approximately $7,576,486.67. This represents a 29.97 % decrease in their position. The disclosure for this sale can be found here. 0.73% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on AMP. Keefe, Bruyette & Woods raised their target price on Ameriprise Financial from $560.00 to $570.00 and gave the company a “market perform” rating in a research note on Monday, February 3rd. UBS Group cut Ameriprise Financial from a “buy” rating to a “neutral” rating and decreased their price target for the company from $580.00 to $570.00 in a report on Monday, January 6th. Royal Bank of Canada reiterated an “outperform” rating and issued a $625.00 price target on shares of Ameriprise Financial in a report on Monday, February 3rd. Finally, Piper Sandler raised their price target on Ameriprise Financial from $415.00 to $442.00 and gave the company an “underweight” rating in a report on Friday, January 31st. One analyst has rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $510.44.

Ameriprise Financial Price Performance

Shares of AMP opened at $546.69 on Friday. The company has a current ratio of 0.59, a quick ratio of 0.65 and a debt-to-equity ratio of 1.01. Ameriprise Financial, Inc. has a 1 year low of $385.74 and a 1 year high of $582.05. The stock has a market cap of $53.03 billion, a P/E ratio of 16.54, a price-to-earnings-growth ratio of 1.18 and a beta of 1.36. The stock’s 50-day moving average price is $541.20 and its two-hundred day moving average price is $505.21.

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

Ameriprise Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Monday, February 10th will be given a dividend of $1.48 per share. 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 currently 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.