Public Employees Retirement Association of Colorado Cuts Stock Holdings in Ameriprise Financial, Inc. (NYSE:AMP)

Public Employees Retirement Association of Colorado lowered its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 2.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 16,790 shares of the financial services provider’s stock after selling 380 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in Ameriprise Financial were worth $5,577,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of AMP. Moneta Group Investment Advisors LLC increased its position in shares of Ameriprise Financial by 106,308.4% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 1,587,613 shares of the financial services provider’s stock worth $494,335,000 after acquiring an additional 1,586,121 shares during the period. Norges Bank purchased a new position in Ameriprise Financial in the fourth quarter valued at $389,527,000. Envestnet Asset Management Inc. increased its holdings in Ameriprise Financial by 298.4% in the first quarter. Envestnet Asset Management Inc. now owns 1,492,217 shares of the financial services provider’s stock valued at $164,644,000 after buying an additional 1,117,684 shares during the last quarter. Truist Financial Corp increased its holdings in Ameriprise Financial by 617.7% in the first quarter. Truist Financial Corp now owns 583,486 shares of the financial services provider’s stock valued at $178,839,000 after buying an additional 502,185 shares during the last quarter. Finally, Bank Julius Baer & Co. Ltd Zurich increased its holdings in Ameriprise Financial by 41,839.7% in the second quarter. Bank Julius Baer & Co. Ltd Zurich now owns 433,657 shares of the financial services provider’s stock valued at $144,043,000 after buying an additional 432,623 shares during the last quarter. Hedge funds and other institutional investors own 82.62% of the company’s stock.

Ameriprise Financial Price Performance

Shares of AMP opened at $343.47 on Thursday. Ameriprise Financial, Inc. has a fifty-two week low of $275.09 and a fifty-two week high of $358.02. The company has a market capitalization of $34.76 billion, a price-to-earnings ratio of 13.98, a price-to-earnings-growth ratio of 0.72 and a beta of 1.45. The firm has a 50-day simple moving average of $330.05 and a 200-day simple moving average of $327.16. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.57 and a current ratio of 0.57.

Ameriprise Financial (NYSE:AMP) last announced its quarterly earnings data on Wednesday, October 25th. The financial services provider reported $7.68 EPS for the quarter, beating analysts’ consensus estimates of $7.58 by $0.10. The firm had revenue of $3.91 billion during the quarter, compared to the consensus estimate of $3.96 billion. Ameriprise Financial had a net margin of 17.63% and a return on equity of 81.75%. On average, equities research analysts anticipate that Ameriprise Financial, Inc. will post 29.39 earnings per share for the current year.

Ameriprise Financial declared that its Board of Directors has initiated a share buyback plan on Wednesday, July 26th that authorizes the company to repurchase $3.50 billion in shares. This repurchase authorization authorizes the financial services provider to repurchase up to 9.5% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

Ameriprise Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 17th. Investors of record on Monday, November 6th will be given a $1.35 dividend. The ex-dividend date of this dividend is Friday, November 3rd. This represents a $5.40 dividend on an annualized basis and a yield of 1.57%. Ameriprise Financial’s payout ratio is currently 21.98%.

Analyst Upgrades and Downgrades

Several research firms recently commented on AMP. Royal Bank of Canada reissued an “outperform” rating and issued a $410.00 target price on shares of Ameriprise Financial in a report on Tuesday, October 31st. StockNews.com raised Ameriprise Financial from a “hold” rating to a “buy” rating in a report on Tuesday, November 7th. Finally, Morgan Stanley increased their target price on Ameriprise Financial from $360.00 to $365.00 and gave the company an “equal weight” rating in a report on Wednesday. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, Ameriprise Financial has an average rating of “Moderate Buy” and a consensus target price of $377.57.

Ameriprise Financial Company 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.