California Public Employees Retirement System Has $88.01 Million Stock Position in Ameriprise Financial, Inc. $AMP

California Public Employees Retirement System boosted its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 9.8% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 198,043 shares of the financial services provider’s stock after acquiring an additional 17,725 shares during the quarter. California Public Employees Retirement System owned approximately 0.22% of Ameriprise Financial worth $88,010,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of Ameriprise Financial during the fourth quarter worth approximately $742,438,000. AQR Capital Management LLC grew its stake in shares of Ameriprise Financial by 84.2% during the fourth quarter. AQR Capital Management LLC now owns 1,085,889 shares of the financial services provider’s stock valued at $532,455,000 after purchasing an additional 496,319 shares during the last quarter. M&T Bank Corp increased its holdings in shares of Ameriprise Financial by 1,440.2% in the fourth quarter. M&T Bank Corp now owns 466,151 shares of the financial services provider’s stock valued at $228,572,000 after purchasing an additional 435,885 shares in the last quarter. First Trust Advisors LP increased its holdings in shares of Ameriprise Financial by 85.5% in the fourth quarter. First Trust Advisors LP now owns 828,437 shares of the financial services provider’s stock valued at $406,216,000 after purchasing an additional 381,754 shares in the last quarter. Finally, Qube Research & Technologies Ltd raised its position in Ameriprise Financial by 140.5% in the 3rd quarter. Qube Research & Technologies Ltd now owns 471,867 shares of the financial services provider’s stock worth $231,805,000 after purchasing an additional 275,659 shares during the last quarter. Institutional investors and hedge funds own 83.95% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. Keefe, Bruyette & Woods initiated coverage on Ameriprise Financial in a report on Friday, April 10th. They set a “hold” rating on the stock. Jefferies Financial Group lifted their target price on Ameriprise Financial from $636.00 to $645.00 and gave the company a “buy” rating in a research note on Friday, July 10th. BMO Capital Markets boosted their target price on Ameriprise Financial from $470.00 to $490.00 and gave the stock a “market perform” rating in a research report on Friday, April 24th. Morgan Stanley upped their price target on Ameriprise Financial from $467.00 to $489.00 and gave the company an “underweight” rating in a research note on Friday, July 10th. Finally, Piper Sandler raised their price target on Ameriprise Financial from $471.00 to $518.00 and gave the company a “neutral” rating in a report on Monday, July 13th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Ameriprise Financial currently has an average rating of “Hold” and an average price target of $553.67.

Insider Buying and Selling at Ameriprise Financial

In other news, EVP Gerard P. Smyth sold 6,255 shares of the firm’s stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $472.52, for a total value of $2,955,612.60. Following the transaction, the executive vice president directly owned 6,103 shares in the company, valued at $2,883,789.56. This trade represents a 50.61% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Robert Francis Sharpe, Jr. sold 1,200 shares of the company’s stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $465.83, for a total value of $558,996.00. Following the completion of the sale, the director owned 6,300 shares of the company’s stock, valued at $2,934,729. This represents a 16.00% decrease in their position. The SEC filing for this sale provides additional information. 0.60% of the stock is owned by company insiders.

Ameriprise Financial Trading Up 0.0%

AMP opened at $527.91 on Monday. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.66 and a quick ratio of 0.66. The company has a market cap of $47.46 billion, a price-to-earnings ratio of 13.13, a price-to-earnings-growth ratio of 0.94 and a beta of 1.16. The firm has a 50 day simple moving average of $470.45 and a 200 day simple moving average of $473.70. Ameriprise Financial, Inc. has a fifty-two week low of $422.37 and a fifty-two week high of $550.18.

Ameriprise Financial (NYSE:AMP) last announced its quarterly earnings data on Thursday, April 23rd. The financial services provider reported $11.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $10.21 by $1.05. Ameriprise Financial had a net margin of 20.57% and a return on equity of 62.88%. The firm had revenue of $4.77 billion for the quarter, compared to analysts’ expectations of $4.82 billion. During the same period last year, the firm earned $9.50 earnings per share. The business’s revenue for the quarter was up 9.7% on a year-over-year basis. On average, sell-side analysts anticipate that Ameriprise Financial, Inc. will post 43.74 earnings per share for the current year.

Ameriprise Financial Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 22nd. Stockholders of record on Monday, May 4th were given a $1.70 dividend. The ex-dividend date was Monday, May 4th. This represents a $6.80 annualized dividend and a dividend yield of 1.3%. This is an increase from Ameriprise Financial’s previous quarterly dividend of $1.60. Ameriprise Financial’s dividend payout ratio is 16.91%.

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.