Ameriprise Financial, Inc. $AMP Shares Sold by VIRGINIA RETIREMENT SYSTEMS ET Al

VIRGINIA RETIREMENT SYSTEMS ET Al lessened its stake in Ameriprise Financial, Inc. (NYSE:AMP) by 35.7% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 33,400 shares of the financial services provider’s stock after selling 18,528 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al’s holdings in Ameriprise Financial were worth $16,377,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Holos Integrated Wealth LLC purchased a new position in shares of Ameriprise Financial in the 4th quarter valued at about $30,000. Redmont Wealth Advisors LLC purchased a new position in shares of Ameriprise Financial in the 3rd quarter valued at about $32,000. Ares Financial Consulting LLC purchased a new position in shares of Ameriprise Financial in the 4th quarter valued at about $32,000. WFA of San Diego LLC purchased a new position in shares of Ameriprise Financial in the 2nd quarter valued at about $36,000. Finally, Activest Wealth Management increased its stake in shares of Ameriprise Financial by 777.8% in the 4th quarter. Activest Wealth Management now owns 79 shares of the financial services provider’s stock valued at $39,000 after purchasing an additional 70 shares in the last quarter. Institutional investors and hedge funds own 83.95% of the company’s stock.

Insider Buying and Selling at Ameriprise Financial

In other news, Director Robert Francis Sharpe, Jr. sold 1,200 shares of the business’s stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $465.83, for a total transaction of $558,996.00. Following the transaction, the director directly owned 6,300 shares in the company, valued at $2,934,729. The trade was a 16.00% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.60% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

AMP has been the subject of several recent analyst reports. Keefe, Bruyette & Woods initiated coverage on Ameriprise Financial in a research note on Friday, April 10th. They issued a “hold” rating for the company. Morgan Stanley lifted their price target on Ameriprise Financial from $452.00 to $467.00 and gave the company an “underweight” rating in a research note on Thursday, April 30th. Jefferies Financial Group lifted their price target on Ameriprise Financial from $600.00 to $620.00 and gave the company a “buy” rating in a research note on Monday, February 2nd. Raymond James Financial set a $582.00 price target on Ameriprise Financial and gave the company a “strong-buy” rating in a research note on Wednesday, February 11th. Finally, Royal Bank Of Canada restated an “outperform” rating and issued a $605.00 price target (up from $580.00) on shares of Ameriprise Financial in a research note on Monday, February 2nd. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $543.22.

Ameriprise Financial Trading Down 0.3%

Shares of Ameriprise Financial stock opened at $468.90 on Thursday. The stock has a market cap of $42.15 billion, a P/E ratio of 11.66, a P/E/G ratio of 1.11 and a beta of 1.20. The stock’s 50 day simple moving average is $454.33 and its 200-day simple moving average is $473.74. Ameriprise Financial, Inc. has a 1-year low of $422.37 and a 1-year high of $550.18. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.66 and a quick ratio of 0.66.

Ameriprise Financial (NYSE:AMP) last issued its earnings results on Thursday, April 23rd. The financial services provider reported $11.26 earnings per share for the quarter, topping the consensus estimate of $10.21 by $1.05. The business had revenue of $4.77 billion for the quarter, compared to analysts’ expectations of $4.82 billion. Ameriprise Financial had a return on equity of 62.88% and a net margin of 20.57%.The business’s revenue for the quarter was up 9.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $9.50 EPS. Analysts predict that Ameriprise Financial, Inc. will post 42.44 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 22nd. Stockholders of record on Monday, May 4th will be issued a dividend of $1.70 per share. The ex-dividend date is Monday, May 4th. This represents a $6.80 annualized dividend and a dividend yield of 1.5%. This is an increase from Ameriprise Financial’s previous quarterly dividend of $1.60. Ameriprise Financial’s payout ratio is presently 16.91%.

Ameriprise Financial 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.