Retirement Systems of Alabama Has $9.36 Million Stake in Ameriprise Financial, Inc. (NYSE:AMP)

Retirement Systems of Alabama lowered its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 0.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 21,910 shares of the financial services provider’s stock after selling 207 shares during the quarter. Retirement Systems of Alabama’s holdings in Ameriprise Financial were worth $9,360,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of AMP. CWM LLC lifted its stake in Ameriprise Financial by 35.7% in the fourth quarter. CWM LLC now owns 3,301 shares of the financial services provider’s stock valued at $1,254,000 after buying an additional 868 shares in the last quarter. Atria Wealth Solutions Inc. increased its holdings in Ameriprise Financial by 9.6% during the 4th quarter. Atria Wealth Solutions Inc. now owns 4,841 shares of the financial services provider’s stock worth $1,839,000 after purchasing an additional 426 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. raised its stake in shares of Ameriprise Financial by 11.6% in the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 2,557 shares of the financial services provider’s stock valued at $971,000 after purchasing an additional 266 shares during the period. Citizens Financial Group Inc. RI lifted its holdings in shares of Ameriprise Financial by 62.5% in the fourth quarter. Citizens Financial Group Inc. RI now owns 1,661 shares of the financial services provider’s stock valued at $631,000 after purchasing an additional 639 shares in the last quarter. Finally, Bank OZK boosted its position in shares of Ameriprise Financial by 8.1% during the fourth quarter. Bank OZK now owns 3,416 shares of the financial services provider’s stock worth $1,297,000 after buying an additional 257 shares during the period. Institutional investors own 83.95% of the company’s stock.

Analysts Set New Price Targets

AMP has been the topic of a number of recent research reports. Royal Bank of Canada lifted their target price on Ameriprise Financial from $487.00 to $500.00 and gave the company an “outperform” rating in a research report on Tuesday, July 30th. Morgan Stanley cut their price objective on shares of Ameriprise Financial from $444.00 to $440.00 and set an “equal weight” rating on the stock in a research report on Monday, July 29th. Piper Sandler reduced their target price on shares of Ameriprise Financial from $390.00 to $387.00 and set an “underweight” rating for the company in a report on Friday, June 28th. Jefferies Financial Group lifted their price target on shares of Ameriprise Financial from $500.00 to $504.00 and gave the company a “buy” rating in a research note on Friday, June 28th. Finally, Keefe, Bruyette & Woods reduced their price objective on shares of Ameriprise Financial from $470.00 to $460.00 and set a “market perform” rating for the company in a research note on Tuesday, July 30th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, Ameriprise Financial has a consensus rating of “Hold” and a consensus target price of $464.33.

Ameriprise Financial Stock Up 1.4 %

Ameriprise Financial stock opened at $439.68 on Friday. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.59 and a quick ratio of 0.56. The company’s 50-day moving average is $426.90 and its 200-day moving average is $422.69. The firm has a market capitalization of $43.67 billion, a PE ratio of 14.97, a P/E/G ratio of 0.73 and a beta of 1.37. Ameriprise Financial, Inc. has a fifty-two week low of $306.63 and a fifty-two week high of $449.94.

Ameriprise Financial (NYSE:AMP) last announced its quarterly earnings results on Wednesday, July 24th. The financial services provider reported $8.72 earnings per share for the quarter, topping analysts’ consensus estimates of $8.53 by $0.19. Ameriprise Financial had a return on equity of 73.83% and a net margin of 18.64%. The firm had revenue of $4.39 billion for the quarter, compared to the consensus estimate of $4.24 billion. During the same quarter in the previous year, the business earned $7.44 earnings per share. The business’s revenue was up 9.6% compared to the same quarter last year. Sell-side analysts anticipate that Ameriprise Financial, Inc. will post 34.77 earnings per share for the current year.

Ameriprise Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 16th. Shareholders of record on Monday, August 5th were issued a dividend of $1.48 per share. This represents a $5.92 annualized dividend and a yield of 1.35%. The ex-dividend date of this dividend was Monday, August 5th. Ameriprise Financial’s dividend payout ratio is 20.15%.

Ameriprise Financial Profile

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.