Teacher Retirement System of Texas Sells 3,071 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

Teacher Retirement System of Texas cut its holdings in Ameriprise Financial, Inc. (NYSE:AMP) by 16.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,687 shares of the financial services provider’s stock after selling 3,071 shares during the quarter. Teacher Retirement System of Texas’ holdings in Ameriprise Financial were worth $8,352,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. TCTC Holdings LLC bought a new position in Ameriprise Financial in the 4th quarter valued at approximately $26,000. Whipplewood Advisors LLC purchased a new position in shares of Ameriprise Financial in the 4th quarter worth $28,000. Rialto Wealth Management LLC purchased a new position in shares of Ameriprise Financial in the 4th quarter worth $28,000. Wingate Wealth Advisors Inc. purchased a new position in shares of Ameriprise Financial in the 4th quarter worth $30,000. Finally, Sound Income Strategies LLC purchased a new position in shares of Ameriprise Financial in the 4th quarter worth $36,000. 83.95% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on AMP shares. UBS Group downgraded Ameriprise Financial from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $580.00 to $570.00 in a research note on Monday, January 6th. Morgan Stanley raised their price target on Ameriprise Financial from $507.00 to $542.00 and gave the stock an “equal weight” rating in a research note on Tuesday, March 4th. Keefe, Bruyette & Woods raised their price target on Ameriprise Financial from $560.00 to $570.00 and gave the stock a “market perform” rating in a research note on Monday, February 3rd. Royal Bank of Canada restated an “outperform” rating and issued a $625.00 price target on shares of Ameriprise Financial in a research note on Monday, February 3rd. Finally, Piper Sandler raised their target price on Ameriprise Financial from $415.00 to $442.00 and gave the stock an “underweight” rating in a report on Friday, January 31st. One research analyst has rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $514.89.

Ameriprise Financial Price Performance

NYSE:AMP opened at $493.41 on Friday. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 1.01. The business’s 50-day simple moving average is $528.03 and its two-hundred day simple moving average is $520.79. The stock has a market cap of $47.43 billion, a PE ratio of 14.92, a P/E/G ratio of 1.15 and a beta of 1.33. Ameriprise Financial, Inc. has a 52 week low of $385.74 and a 52 week high of $582.05.

Ameriprise Financial (NYSE:AMP) last posted its quarterly earnings results on Wednesday, January 29th. The financial services provider reported $9.36 EPS for the quarter, beating 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%. As a group, analysts forecast that Ameriprise Financial, Inc. will post 38.64 EPS for the current fiscal year.

Ameriprise Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Monday, February 10th were issued a dividend of $1.48 per share. The ex-dividend date of this dividend was Monday, February 10th. This represents a $5.92 dividend on an annualized basis and a yield of 1.20%. Ameriprise Financial’s dividend payout ratio is presently 17.91%.

Insider Buying and Selling at Ameriprise Financial

In other news, insider Joseph Edward Sweeney sold 4,636 shares of the firm’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $539.07, for a total transaction of $2,499,128.52. Following the completion of the transaction, the insider now owns 7,237 shares in the company, valued at $3,901,249.59. This trade represents a 39.05 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO William F. Truscott sold 6,000 shares of the firm’s stock in a transaction dated 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 transaction, the chief executive officer now owns 14,023 shares of the company’s stock, valued at approximately $7,576,486.67. The trade was a 29.97 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 11,636 shares of company stock valued at $6,263,989 over the last ninety days. 0.73% of the stock is currently owned by company insiders.

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.