Teacher Retirement System of Texas Has $15.84 Million Holdings in Ameriprise Financial, Inc. $AMP

Teacher Retirement System of Texas lifted its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 14.5% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 32,248 shares of the financial services provider’s stock after acquiring an additional 4,077 shares during the period. Teacher Retirement System of Texas’ holdings in Ameriprise Financial were worth $15,842,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in AMP. Whipplewood Advisors LLC boosted its position in Ameriprise Financial by 71.0% during the second quarter. Whipplewood Advisors LLC now owns 53 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 22 shares during the period. Salomon & Ludwin LLC lifted its stake in shares of Ameriprise Financial by 115.4% in the second quarter. Salomon & Ludwin LLC now owns 56 shares of the financial services provider’s stock worth $30,000 after buying an additional 30 shares during the last quarter. Winnow Wealth LLC bought a new stake in shares of Ameriprise Financial during the 2nd quarter worth $32,000. Heartwood Wealth Advisors LLC bought a new stake in shares of Ameriprise Financial during the 3rd quarter worth $32,000. Finally, WFA of San Diego LLC acquired a new position in Ameriprise Financial in the 2nd quarter valued at $36,000. 83.95% of the stock is owned by institutional investors.

Ameriprise Financial Stock Performance

AMP opened at $496.29 on Friday. The stock’s 50 day simple moving average is $484.70 and its 200-day simple moving average is $492.92. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 0.88. The stock has a market cap of $46.11 billion, a PE ratio of 13.61, a P/E/G ratio of 1.28 and a beta of 1.26. Ameriprise Financial, Inc. has a 1 year low of $396.14 and a 1 year high of $582.05.

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 the consensus estimate of $9.76 by $0.16. Ameriprise Financial had a return on equity of 64.97% and a net margin of 20.12%.The firm had revenue of $4.73 billion during the quarter, compared to analysts’ expectations of $4.51 billion. During the same period last year, the business earned $9.02 earnings per share. Ameriprise Financial’s quarterly revenue was up 9.0% compared to the same quarter last year. Sell-side analysts forecast that Ameriprise Financial, Inc. will post 38.64 EPS for the current year.

Ameriprise Financial Dividend Announcement

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

Wall Street Analyst Weigh In

AMP has been the subject of a number of research analyst reports. Keefe, Bruyette & Woods cut their target price on shares of Ameriprise Financial from $550.00 to $530.00 and set a “market perform” rating for the company in a research report on Monday, November 3rd. Royal Bank Of Canada cut their price objective on Ameriprise Financial from $601.00 to $550.00 and set an “outperform” rating for the company in a research report on Monday, November 3rd. Argus decreased their target price on Ameriprise Financial from $568.00 to $554.00 and set a “buy” rating for the company in a research note on Thursday, November 13th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Ameriprise Financial in a report on Monday, December 29th. Finally, Evercore ISI cut their price target on Ameriprise Financial from $587.00 to $570.00 and set an “in-line” rating for the company in a report on Thursday, October 9th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $528.75.

Insiders Place Their Bets

In other news, Director Robert Francis Sharpe, Jr. sold 1,500 shares of the company’s stock in a transaction that occurred on Friday, November 21st. The stock was sold at an average price of $450.94, for a total value of $676,410.00. Following the sale, the director directly owned 7,500 shares in the company, valued at approximately $3,382,050. This represents a 16.67% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 0.73% of the company’s stock.

Ameriprise Financial Company Profile

Ameriprise Financial, Inc is a diversified financial services company headquartered in Minneapolis, Minnesota. The firm provides a range of advice-based wealth management, asset management and insurance products to individual and institutional clients. Its business model centers on delivering financial planning and investment advice through a network of financial advisors alongside proprietary product offerings designed to meet retirement, protection and accumulation needs.

Core products and services include comprehensive financial planning and advisory services, managed investment portfolios, retirement planning solutions, annuities and life insurance products.