Retirement Systems of Alabama lessened its holdings in Ameriprise Financial, Inc. (NYSE:AMP) by 1.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 71,690 shares of the financial services provider’s stock after selling 1,055 shares during the quarter. Retirement Systems of Alabama’s holdings in Ameriprise Financial were worth $12,149,000 as of its most recent SEC filing.
Other institutional investors have also made changes to their positions in the company. Montecito Bank & Trust boosted its position in shares of Ameriprise Financial by 19.5% in the third quarter. Montecito Bank & Trust now owns 2,443 shares of the financial services provider’s stock valued at $363,000 after acquiring an additional 399 shares during the period. Legacy Private Trust Co. lifted its position in Ameriprise Financial by 12.1% during the fourth quarter. Legacy Private Trust Co. now owns 29,143 shares of the financial services provider’s stock worth $4,939,000 after purchasing an additional 3,138 shares during the period. Wasatch Advisors Inc. bought a new stake in Ameriprise Financial during the second quarter worth about $352,000. Acadian Asset Management LLC lifted its position in Ameriprise Financial by 630.0% during the fourth quarter. Acadian Asset Management LLC now owns 108,421 shares of the financial services provider’s stock worth $18,374,000 after purchasing an additional 93,568 shares during the period. Finally, Prudential Financial Inc. lifted its position in Ameriprise Financial by 16.4% during the third quarter. Prudential Financial Inc. now owns 570,473 shares of the financial services provider’s stock worth $84,721,000 after purchasing an additional 80,220 shares during the period. 80.20% of the stock is owned by institutional investors.
Ameriprise Financial, Inc. (NYSE:AMP) opened at $159.81 on Friday. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.67 and a current ratio of 0.67. The company has a market capitalization of $23,640.69, a PE ratio of 13.00 and a beta of 1.85. Ameriprise Financial, Inc. has a 52 week low of $118.84 and a 52 week high of $183.90.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, February 28th. Shareholders of record on Friday, February 16th will be paid a dividend of $0.83 per share. This represents a $3.32 annualized dividend and a yield of 2.08%. The ex-dividend date of this dividend is Thursday, February 15th. Ameriprise Financial’s payout ratio is 35.17%.
AMP has been the subject of several recent analyst reports. Zacks Investment Research cut shares of Ameriprise Financial from a “buy” rating to a “hold” rating in a research report on Tuesday, December 26th. Royal Bank of Canada set a $168.00 price objective on shares of Ameriprise Financial and gave the stock a “hold” rating in a research report on Saturday, December 16th. SunTrust Banks upped their price objective on shares of Ameriprise Financial to $180.00 and gave the stock a “hold” rating in a research report on Friday, January 19th. ValuEngine cut shares of Ameriprise Financial from a “strong-buy” rating to a “buy” rating in a research report on Friday, December 1st. Finally, Morgan Stanley upped their price objective on shares of Ameriprise Financial from $187.00 to $190.00 and gave the stock an “overweight” rating in a research report on Thursday, January 25th. Five analysts have rated the stock with a hold rating and six have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $164.98.
In other Ameriprise Financial news, insider Joseph Edward Sweeney sold 7,329 shares of the business’s stock in a transaction dated Friday, December 8th. The stock was sold at an average price of $169.47, for a total transaction of $1,242,045.63. Following the completion of the transaction, the insider now owns 37,991 shares of the company’s stock, valued at $6,438,334.77. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider David Kent Stewart sold 603 shares of the business’s stock in a transaction dated Monday, November 27th. The stock was sold at an average price of $160.72, for a total value of $96,914.16. Following the transaction, the insider now directly owns 20,081 shares of the company’s stock, valued at approximately $3,227,418.32. The disclosure for this sale can be found here. In the last three months, insiders have sold 49,628 shares of company stock valued at $8,570,993. Insiders own 1.50% of the company’s stock.
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About Ameriprise Financial
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.
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