New York State Common Retirement Fund Trims Stock Position in Ameriprise Financial, Inc. (NYSE:AMP)

New York State Common Retirement Fund lowered its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 20.6% in the 1st quarter, Holdings Channel.com reports. The firm owned 144,270 shares of the financial services provider’s stock after selling 37,537 shares during the quarter. New York State Common Retirement Fund’s holdings in Ameriprise Financial were worth $33,536,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in AMP. Better Money Decisions LLC purchased a new stake in Ameriprise Financial in the 1st quarter worth approximately $27,000. CVA Family Office LLC purchased a new stake in Ameriprise Financial in the 1st quarter worth approximately $28,000. Regent Peak Wealth Advisors LLC purchased a new stake in Ameriprise Financial in the 4th quarter worth approximately $26,000. Inspire Advisors LLC purchased a new stake in Ameriprise Financial in the 4th quarter worth approximately $29,000. Finally, Liberty Wealth Management LLC increased its holdings in Ameriprise Financial by 146.2% in the 4th quarter. Liberty Wealth Management LLC now owns 160 shares of the financial services provider’s stock worth $32,000 after acquiring an additional 95 shares in the last quarter. 81.47% of the stock is owned by hedge funds and other institutional investors.

NYSE AMP opened at $257.32 on Friday. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 1.00. The company has a market cap of $29.82 billion, a P/E ratio of -584.80 and a beta of 1.70. Ameriprise Financial, Inc. has a one year low of $138.70 and a one year high of $269.29. The firm’s 50 day moving average price is $253.44.

Ameriprise Financial (NYSE:AMP) last posted its earnings results on Sunday, April 25th. The financial services provider reported $5.43 EPS for the quarter, beating analysts’ consensus estimates of $4.73 by $0.70. Ameriprise Financial had a positive return on equity of 34.89% and a negative net margin of 0.53%. The firm had revenue of $3.35 billion during the quarter, compared to the consensus estimate of $3.23 billion. During the same period in the prior year, the company earned $5.41 EPS. The company’s quarterly revenue was up 11.6% compared to the same quarter last year. On average, equities analysts expect that Ameriprise Financial, Inc. will post 21.32 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Friday, May 21st. Investors of record on Monday, May 10th were issued a dividend of $1.13 per share. This represents a $4.52 annualized dividend and a yield of 1.76%. The ex-dividend date of this dividend was Friday, May 7th. This is a positive change from Ameriprise Financial’s previous quarterly dividend of $1.04. Ameriprise Financial’s dividend payout ratio is presently 32.10%.

In related news, VP Karen Wilson Thissen sold 1,560 shares of the stock in a transaction on Thursday, April 29th. The stock was sold at an average price of $259.85, for a total transaction of $405,366.00. Following the sale, the vice president now owns 11,657 shares in the company, valued at approximately $3,029,071.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Gerard P. Smyth sold 970 shares of the stock in a transaction on Thursday, April 29th. The shares were sold at an average price of $259.64, for a total value of $251,850.80. Following the sale, the executive vice president now owns 13,969 shares in the company, valued at approximately $3,626,911.16. The disclosure for this sale can be found here. Insiders have sold a total of 16,486 shares of company stock worth $4,268,471 in the last 90 days. 1.10% of the stock is currently owned by insiders.

Several equities research analysts recently issued reports on AMP shares. Barclays increased their target price on shares of Ameriprise Financial from $245.00 to $265.00 and gave the stock an “overweight” rating in a report on Monday, April 12th. Zacks Investment Research downgraded Ameriprise Financial from a “buy” rating to a “hold” rating and set a $244.00 price target for the company. in a research note on Wednesday, March 31st. Royal Bank of Canada upped their price target on Ameriprise Financial from $270.00 to $295.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 28th. Citigroup upped their price target on Ameriprise Financial from $245.00 to $265.00 in a research note on Wednesday, March 31st. Finally, Morgan Stanley upped their price target on Ameriprise Financial from $236.00 to $250.00 and gave the stock an “equal weight” rating in a research note on Wednesday, May 19th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $238.44.

Ameriprise Financial Profile

Ameriprise Financial, Inc, through 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.

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Institutional Ownership by Quarter for Ameriprise Financial (NYSE:AMP)

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