State of New Jersey Common Pension Fund D Reduces Stock Position in Ameriprise Financial, Inc. (NYSE:AMP)

State of New Jersey Common Pension Fund D lowered its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 1.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 56,999 shares of the financial services provider’s stock after selling 1,122 shares during the quarter. State of New Jersey Common Pension Fund D owned 0.06% of Ameriprise Financial worth $21,650,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of AMP. CWM LLC raised its position in Ameriprise Financial by 2.9% during the 3rd quarter. CWM LLC now owns 2,433 shares of the financial services provider’s stock valued at $802,000 after purchasing an additional 69 shares in the last quarter. Arkadios Wealth Advisors bought a new stake in Ameriprise Financial during the 3rd quarter valued at $233,000. Washington Trust Advisors Inc. raised its position in shares of Ameriprise Financial by 35.7% in the 3rd quarter. Washington Trust Advisors Inc. now owns 608 shares of the financial services provider’s stock worth $200,000 after acquiring an additional 160 shares in the last quarter. Caprock Group LLC raised its position in shares of Ameriprise Financial by 13.4% in the 3rd quarter. Caprock Group LLC now owns 1,910 shares of the financial services provider’s stock worth $630,000 after acquiring an additional 226 shares in the last quarter. Finally, Oak Thistle LLC bought a new position in shares of Ameriprise Financial in the 3rd quarter worth $717,000. 83.95% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

AMP has been the subject of several recent research reports. Evercore ISI boosted their price target on Ameriprise Financial from $400.00 to $445.00 and gave the stock an “in-line” rating in a research report on Thursday, April 11th. The Goldman Sachs Group boosted their price target on Ameriprise Financial from $437.00 to $488.00 and gave the stock a “buy” rating in a research report on Wednesday, March 27th. Morgan Stanley upped their target price on Ameriprise Financial from $400.00 to $437.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 9th. Raymond James started coverage on Ameriprise Financial in a research report on Thursday, March 21st. They set a “market perform” rating on the stock. Finally, Royal Bank of Canada upped their target price on Ameriprise Financial from $470.00 to $480.00 and gave the company an “outperform” rating in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $449.57.

Ameriprise Financial Stock Performance

Ameriprise Financial stock traded down $2.22 during trading hours on Thursday, hitting $410.64. 652,386 shares of the stock traded hands, compared to its average volume of 503,870. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.56 and a quick ratio of 0.56. The firm’s 50 day moving average price is $418.15 and its 200-day moving average price is $379.98. The stock has a market capitalization of $41.14 billion, a price-to-earnings ratio of 14.05, a P/E/G ratio of 0.67 and a beta of 1.36. Ameriprise Financial, Inc. has a 1 year low of $279.85 and a 1 year high of $440.67.

Ameriprise Financial (NYSE:AMP) last posted its quarterly earnings results on Wednesday, April 24th. The financial services provider reported $8.39 earnings per share for the quarter, beating the consensus estimate of $8.10 by $0.29. The business had revenue of $4.15 billion for the quarter, compared to the consensus estimate of $4.15 billion. Ameriprise Financial had a return on equity of 75.97% and a net margin of 19.42%. The company’s quarterly revenue was up 10.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $7.25 EPS. As a group, equities analysts expect that Ameriprise Financial, Inc. will post 34.43 EPS for the current fiscal year.

Ameriprise Financial Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 17th. Stockholders of record on Monday, May 6th will be paid a $1.48 dividend. This is an increase from Ameriprise Financial’s previous quarterly dividend of $1.35. The ex-dividend date of this dividend is Friday, May 3rd. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.44%. Ameriprise Financial’s dividend payout ratio is presently 18.38%.

Insider Transactions at Ameriprise Financial

In other news, CEO William F. Truscott sold 9,689 shares of the company’s stock in a transaction dated Friday, January 26th. The stock was sold at an average price of $390.22, for a total value of $3,780,841.58. Following the sale, the chief executive officer now owns 12,126 shares in the company, valued at $4,731,807.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Ameriprise Financial news, insider Gumer Alvero sold 1,652 shares of the stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $437.00, for a total transaction of $721,924.00. Following the transaction, the insider now owns 6,994 shares in the company, valued at $3,056,378. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO William F. Truscott sold 9,689 shares of the stock in a transaction that occurred on Friday, January 26th. The stock was sold at an average price of $390.22, for a total value of $3,780,841.58. Following the transaction, the chief executive officer now owns 12,126 shares in the company, valued at approximately $4,731,807.72. The disclosure for this sale can be found here. Insiders have sold 89,161 shares of company stock worth $35,560,647 over the last quarter. 0.73% of the stock is currently owned by insiders.

Ameriprise Financial Company Profile

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.