Texas Permanent School Fund Corp Sells 4,730 Shares of Ameriprise Financial, Inc. $AMP

Texas Permanent School Fund Corp reduced its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 36.6% during the 2nd quarter, HoldingsChannel reports. The fund owned 8,181 shares of the financial services provider’s stock after selling 4,730 shares during the period. Texas Permanent School Fund Corp’s holdings in Ameriprise Financial were worth $4,366,000 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. Whipplewood Advisors LLC increased its position in shares of Ameriprise Financial by 71.0% during the 2nd quarter. Whipplewood Advisors LLC now owns 53 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 22 shares during the last quarter. TD Capital Management LLC lifted its position in Ameriprise Financial by 566.7% in the first quarter. TD Capital Management LLC now owns 60 shares of the financial services provider’s stock worth $29,000 after buying an additional 51 shares during the last quarter. Wealth Preservation Advisors LLC purchased a new position in Ameriprise Financial during the first quarter worth $29,000. Salomon & Ludwin LLC increased its position in Ameriprise Financial by 115.4% during the second quarter. Salomon & Ludwin LLC now owns 56 shares of the financial services provider’s stock valued at $30,000 after acquiring an additional 30 shares during the last quarter. Finally, Winnow Wealth LLC bought a new position in Ameriprise Financial during the second quarter valued at $32,000. 83.95% of the stock is currently owned by hedge funds and other institutional investors.

Ameriprise Financial Price Performance

Ameriprise Financial stock opened at $487.55 on Thursday. The stock has a market cap of $45.30 billion, a price-to-earnings ratio of 13.37, a price-to-earnings-growth ratio of 1.31 and a beta of 1.26. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.68 and a quick ratio of 0.68. Ameriprise Financial, Inc. has a 1 year low of $396.14 and a 1 year high of $582.05. The firm has a 50-day moving average of $468.27 and a two-hundred day moving average of $496.77.

Ameriprise Financial (NYSE:AMP) last issued its earnings results on Thursday, October 30th. The financial services provider reported $9.92 EPS for the quarter, topping analysts’ consensus estimates of $9.76 by $0.16. Ameriprise Financial had a net margin of 20.12% and a return on equity of 64.97%. The business had revenue of $4.73 billion for the quarter, compared to analyst estimates of $4.51 billion. During the same period last year, the company posted $9.02 earnings per share. The company’s quarterly revenue was up 9.0% compared to the same quarter last year. On average, research analysts forecast that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current year.

Ameriprise Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, November 24th. Shareholders of record on Monday, November 10th were given a dividend of $1.60 per share. The ex-dividend date of this dividend was Monday, November 10th. This represents a $6.40 dividend on an annualized basis and a yield of 1.3%. Ameriprise Financial’s payout ratio is 17.55%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Argus lowered their target price on shares of Ameriprise Financial from $568.00 to $554.00 and set a “buy” rating for the company in a report on Thursday, November 13th. BMO Capital Markets initiated coverage on shares of Ameriprise Financial in a research report on Friday, October 3rd. They issued a “market perform” rating and a $525.00 price objective on the stock. Weiss Ratings reissued a “buy (b-)” rating on shares of Ameriprise Financial in a research note on Tuesday. Keefe, Bruyette & Woods cut their target price on Ameriprise Financial from $550.00 to $530.00 and set a “market perform” rating on the stock in a research note on Monday, November 3rd. Finally, Evercore ISI reduced their price target on Ameriprise Financial from $587.00 to $570.00 and set an “in-line” rating on the stock in a report on Thursday, October 9th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, five have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $533.22.

Insider Buying and Selling at Ameriprise Financial

In other news, Director Robert Francis Sharpe, Jr. sold 1,500 shares of the stock in a transaction on Friday, November 21st. The stock was sold at an average price of $450.94, for a total transaction of $676,410.00. Following the transaction, the director owned 7,500 shares of the company’s stock, valued at approximately $3,382,050. This represents a 16.67% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate 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.