Kentucky Retirement Systems Insurance Trust Fund Has $1.45 Million Stock Position in Ameriprise Financial, Inc. (NYSE:AMP)

Kentucky Retirement Systems Insurance Trust Fund lessened its stake in Ameriprise Financial, Inc. (NYSE:AMP) by 8.3% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,307 shares of the financial services provider’s stock after selling 298 shares during the quarter. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Ameriprise Financial were worth $1,450,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in AMP. Retirement Group LLC bought a new position in Ameriprise Financial during the 1st quarter worth about $25,000. Redmont Wealth Advisors LLC bought a new position in shares of Ameriprise Financial during the first quarter worth about $28,000. Annapolis Financial Services LLC raised its position in Ameriprise Financial by 928.6% in the 1st quarter. Annapolis Financial Services LLC now owns 72 shares of the financial services provider’s stock valued at $32,000 after buying an additional 65 shares during the last quarter. Sound Income Strategies LLC bought a new stake in Ameriprise Financial in the 1st quarter valued at approximately $32,000. Finally, Benjamin Edwards Inc. acquired a new position in Ameriprise Financial during the 1st quarter worth approximately $34,000. Institutional investors own 83.95% of the company’s stock.

Insider Activity at Ameriprise Financial

In other Ameriprise Financial news, Director Robert Francis Sharpe, Jr. sold 1,500 shares of the firm’s stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $438.07, for a total transaction of $657,105.00. Following the completion of the sale, the director now directly owns 11,000 shares in the company, valued at $4,818,770. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.73% of the stock is owned by company insiders.

Ameriprise Financial Stock Performance

Shares of AMP traded down $2.13 during mid-day trading on Friday, reaching $439.54. The company’s stock had a trading volume of 530,900 shares, compared to its average volume of 554,406. The company has a current ratio of 0.59, a quick ratio of 0.56 and a debt-to-equity ratio of 1.16. Ameriprise Financial, Inc. has a 1-year low of $306.63 and a 1-year high of $449.94. The business has a 50-day simple moving average of $431.95 and a two-hundred day simple moving average of $417.95. The stock has a market cap of $43.66 billion, a P/E ratio of 14.96, a PEG ratio of 0.69 and a beta of 1.37.

Ameriprise Financial (NYSE:AMP) last announced its quarterly earnings results on Wednesday, July 24th. The financial services provider reported $8.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $8.53 by $0.19. Ameriprise Financial had a return on equity of 73.83% and a net margin of 18.64%. The business had revenue of $4.39 billion during the quarter, compared to the consensus estimate of $4.24 billion. During the same quarter last year, the firm posted $7.44 EPS. The company’s quarterly revenue was up 9.6% on a year-over-year basis. As a group, equities research analysts anticipate that Ameriprise Financial, Inc. will post 34.89 earnings per share for the current fiscal year.

Ameriprise Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 16th. Investors of record on Monday, August 5th will be issued a dividend of $1.48 per share. This represents a $5.92 annualized dividend and a dividend yield of 1.35%. The ex-dividend date is Monday, August 5th. Ameriprise Financial’s payout ratio is 20.15%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on AMP shares. Argus boosted their price objective on shares of Ameriprise Financial from $440.00 to $460.00 and gave the stock a “buy” rating in a research report on Monday, May 6th. Royal Bank of Canada boosted their price target on shares of Ameriprise Financial from $470.00 to $480.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 24th. UBS Group decreased their price objective on Ameriprise Financial from $500.00 to $495.00 and set a “buy” rating for the company in a report on Tuesday, July 9th. Jefferies Financial Group upped their target price on Ameriprise Financial from $500.00 to $504.00 and gave the stock a “buy” rating in a report on Friday, June 28th. Finally, Morgan Stanley raised their price target on Ameriprise Financial from $400.00 to $437.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 9th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $462.89.

About Ameriprise Financial

Ameriprise Financial, Inc, together with its subsidiaries, provides various financial products and services to individual and institutional clients in the United States and internationally. It operates through four segments: Advice & Wealth Management, Asset Management, Retirement & Protection Solutions, and Corporate & Other.