California State Teachers Retirement System Has $38.14 Million Stake in Ameriprise Financial Services, Inc. (AMP)

California State Teachers Retirement System reduced its position in shares of Ameriprise Financial Services, Inc. (NYSE:AMP) by 8.8% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 256,800 shares of the financial services provider’s stock after selling 24,780 shares during the period. California State Teachers Retirement System owned 0.17% of Ameriprise Financial Services worth $38,137,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of AMP. Parallel Advisors LLC lifted its holdings in Ameriprise Financial Services by 17.5% in the second quarter. Parallel Advisors LLC now owns 777 shares of the financial services provider’s stock worth $113,000 after buying an additional 116 shares during the period. IHT Wealth Management LLC lifted its holdings in Ameriprise Financial Services by 284.0% in the second quarter. IHT Wealth Management LLC now owns 311 shares of the financial services provider’s stock worth $113,000 after buying an additional 230 shares during the period. Sun Life Financial INC lifted its holdings in Ameriprise Financial Services by 10,100.0% in the second quarter. Sun Life Financial INC now owns 1,122 shares of the financial services provider’s stock worth $143,000 after buying an additional 1,111 shares during the period. Johnson Financial Group Inc. lifted its holdings in Ameriprise Financial Services by 3.3% in the second quarter. Johnson Financial Group Inc. now owns 1,181 shares of the financial services provider’s stock worth $150,000 after buying an additional 38 shares during the period. Finally, D.A. Davidson & CO. lifted its holdings in Ameriprise Financial Services by 60.3% in the second quarter. D.A. Davidson & CO. now owns 1,374 shares of the financial services provider’s stock worth $174,000 after buying an additional 517 shares during the period. Institutional investors and hedge funds own 81.74% of the company’s stock.

A number of brokerages have weighed in on AMP. BidaskClub downgraded shares of Ameriprise Financial Services from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 19th. Zacks Investment Research downgraded shares of Ameriprise Financial Services from a “buy” rating to a “hold” rating in a research note on Thursday, August 31st. Barclays reaffirmed an “equal weight” rating on shares of Ameriprise Financial Services in a research note on Monday, October 2nd. Morgan Stanley raised their target price on shares of Ameriprise Financial Services from $152.00 to $162.00 and gave the company an “overweight” rating in a research note on Thursday, October 5th. Finally, Royal Bank of Canada set a $149.00 target price on shares of Ameriprise Financial Services and gave the company a “hold” rating in a research note on Wednesday, October 18th. Four equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $154.20.

Shares of Ameriprise Financial Services, Inc. (AMP) opened at $167.93 on Friday. The firm has a market cap of $24,475.02, a P/E ratio of 14.07 and a beta of 1.93. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.82. Ameriprise Financial Services, Inc. has a 1 year low of $109.19 and a 1 year high of $170.35.

Ameriprise Financial Services (NYSE:AMP) last announced its quarterly earnings results on Tuesday, October 24th. The financial services provider reported $3.12 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.79 by $0.33. The company had revenue of $3 billion during the quarter, compared to the consensus estimate of $2.97 billion. Ameriprise Financial Services had a net margin of 14.24% and a return on equity of 29.75%. The firm’s quarterly revenue was up 6.3% compared to the same quarter last year. During the same quarter last year, the firm earned $2.29 earnings per share. research analysts forecast that Ameriprise Financial Services, Inc. will post 12.14 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Friday, November 17th. Investors of record on Monday, November 6th were given a dividend of $0.83 per share. This represents a $3.32 annualized dividend and a dividend yield of 1.98%. The ex-dividend date of this dividend was Friday, November 3rd. Ameriprise Financial Services’s dividend payout ratio (DPR) is currently 30.97%.

In related news, insider David Kent Stewart sold 603 shares of the firm’s stock in a transaction that occurred on Monday, November 27th. The shares were sold at an average price of $160.72, for a total transaction of $96,914.16. Following the completion of the sale, the insider now owns 20,081 shares of the company’s stock, valued at $3,227,418.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Charles Neal Maglaque sold 1,754 shares of the firm’s stock in a transaction that occurred on Friday, October 27th. The shares were sold at an average price of $161.01, for a total transaction of $282,411.54. Following the sale, the chief operating officer now directly owns 14,697 shares of the company’s stock, valued at approximately $2,366,363.97. The disclosure for this sale can be found here. Insiders have sold 67,649 shares of company stock valued at $10,882,637 in the last three months. 1.50% of the stock is owned by insiders.

COPYRIGHT VIOLATION NOTICE: This article was first posted by The Lincolnian Online and is the sole property of of The Lincolnian Online. If you are reading this article on another publication, it was copied illegally and reposted in violation of US & international trademark & copyright legislation. The original version of this article can be viewed at https://www.thelincolnianonline.com/2017/12/16/california-state-teachers-retirement-system-has-38-14-million-stake-in-ameriprise-financial-services-inc-amp.html.

Ameriprise Financial Services Profile

Ameriprise Financial, Inc is a financial services company that offers financial solutions to individual and institutional clients. The Company operates in five segments: Advice & Wealth Management; Asset Management; Annuities; Protection, and Corporate & Other. The Company uses Ameriprise Financial as its enterprise brand, as well as the name of its advisor network and certain of its retail products and services.

Want to see what other hedge funds are holding AMP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ameriprise Financial Services, Inc. (NYSE:AMP).

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

Receive News & Ratings for Ameriprise Financial Services Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ameriprise Financial Services and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply