Ameriprise Financial, Inc. (NYSE:AMP) Shares Sold by Texas Permanent School Fund Corp

Texas Permanent School Fund Corp cut its holdings in Ameriprise Financial, Inc. (NYSE:AMP) by 29.0% in the 2nd quarter, HoldingsChannel reports. The fund owned 16,459 shares of the financial services provider’s stock after selling 6,727 shares during the period. Texas Permanent School Fund Corp’s holdings in Ameriprise Financial were worth $7,031,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Retirement Group LLC acquired a new position in Ameriprise Financial in the 1st quarter valued at $25,000. DiNuzzo Private Wealth Inc. raised its holdings in Ameriprise Financial by 268.8% in the 2nd quarter. DiNuzzo Private Wealth Inc. now owns 59 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 43 shares during the last quarter. Accordant Advisory Group Inc acquired a new position in Ameriprise Financial in the 2nd quarter valued at $26,000. Redmont Wealth Advisors LLC acquired a new position in Ameriprise Financial in the 1st quarter valued at $28,000. Finally, Mascoma Wealth Management LLC raised its holdings in Ameriprise Financial by 153.8% in the 2nd quarter. Mascoma Wealth Management LLC now owns 66 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 40 shares during the last quarter. 83.95% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on AMP. Piper Sandler lowered their price objective on shares of Ameriprise Financial from $390.00 to $387.00 and set an “underweight” rating for the company in a research note on Friday, June 28th. Jefferies Financial Group boosted their price objective on shares of Ameriprise Financial from $500.00 to $504.00 and gave the company a “buy” rating in a research note on Friday, June 28th. UBS Group lowered their price objective on shares of Ameriprise Financial from $500.00 to $495.00 and set a “buy” rating for the company in a research note on Tuesday, July 9th. Royal Bank of Canada boosted their price objective on shares of Ameriprise Financial from $487.00 to $500.00 and gave the company an “outperform” rating in a research note on Tuesday, July 30th. Finally, Keefe, Bruyette & Woods lowered their price objective on shares of Ameriprise Financial from $470.00 to $460.00 and set a “market perform” rating for the company in a research note on Tuesday, July 30th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $464.33.

Ameriprise Financial Stock Down 0.5 %

Shares of Ameriprise Financial stock opened at $434.20 on Wednesday. The company has a fifty day moving average price of $428.22 and a 200 day moving average price of $426.58. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 1.16. Ameriprise Financial, Inc. has a twelve month low of $306.63 and a twelve month high of $450.35. The stock has a market cap of $43.13 billion, a price-to-earnings ratio of 14.78, a price-to-earnings-growth ratio of 0.74 and a beta of 1.35.

Ameriprise Financial (NYSE:AMP) last posted its quarterly earnings data on Wednesday, July 24th. The financial services provider reported $8.72 earnings per share for the quarter, beating analysts’ consensus estimates of $8.53 by $0.19. The company had revenue of $4.39 billion during the quarter, compared to analysts’ expectations of $4.24 billion. Ameriprise Financial had a net margin of 18.64% and a return on equity of 73.83%. The firm’s revenue for the quarter was up 9.6% on a year-over-year basis. During the same period in the prior year, the company posted $7.44 EPS. Equities research analysts forecast that Ameriprise Financial, Inc. will post 34.81 earnings per share for the current fiscal year.

Ameriprise Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 16th. Shareholders of record on Monday, August 5th were given a $1.48 dividend. The ex-dividend date was Monday, August 5th. This represents a $5.92 dividend on an annualized basis and a yield of 1.36%. Ameriprise Financial’s payout ratio is currently 20.15%.

Insider Buying and Selling at Ameriprise Financial

In other Ameriprise Financial news, VP William Davies sold 8,700 shares of the company’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $442.07, for a total value of $3,846,009.00. Following the completion of the transaction, the vice president now directly owns 13,199 shares of the company’s stock, valued at approximately $5,834,881.93. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.73% of the stock is currently owned by corporate insiders.

Ameriprise Financial 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.