Oregon Public Employees Retirement Fund Lowers Stock Position in Ameriprise Financial, Inc. (NYSE:AMP)

Oregon Public Employees Retirement Fund cut its position in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 1.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 8,322 shares of the financial services provider’s stock after selling 102 shares during the period. Oregon Public Employees Retirement Fund’s holdings in Ameriprise Financial were worth $4,431,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Wingate Wealth Advisors Inc. purchased a new position in Ameriprise Financial during the fourth quarter valued at $30,000. Sound Income Strategies LLC purchased a new position in Ameriprise Financial during the fourth quarter valued at $36,000. Golden State Wealth Management LLC purchased a new position in Ameriprise Financial during the fourth quarter valued at $38,000. Peterson Financial Group Inc. purchased a new position in Ameriprise Financial during the third quarter valued at $45,000. Finally, Albion Financial Group UT purchased a new position in Ameriprise Financial during the fourth quarter valued at $46,000. 83.95% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CEO William F. Truscott sold 6,000 shares of the firm’s stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $540.29, for a total transaction of $3,241,740.00. Following the completion of the sale, the chief executive officer now directly owns 14,023 shares in the company, valued at approximately $7,576,486.67. This trade represents a 29.97 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Robert Francis Sharpe, Jr. sold 1,000 shares of the firm’s stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $523.12, for a total transaction of $523,120.00. Following the sale, the director now owns 10,000 shares of the company’s stock, valued at approximately $5,231,200. The trade was a 9.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 11,636 shares of company stock worth $6,263,989. Insiders own 0.96% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on AMP shares. Keefe, Bruyette & Woods increased their price objective on shares of Ameriprise Financial from $560.00 to $570.00 and gave the company a “market perform” rating in a report on Monday, February 3rd. UBS Group downgraded shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $580.00 to $570.00 in a report on Monday, January 6th. Piper Sandler increased their price objective on shares of Ameriprise Financial from $415.00 to $442.00 and gave the company an “underweight” rating in a report on Friday, January 31st. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $625.00 target price on shares of Ameriprise Financial in a research report on Monday, February 3rd. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the stock. According to MarketBeat, Ameriprise Financial presently has an average rating of “Hold” and an average price target of $510.44.

Ameriprise Financial Price Performance

Shares of NYSE AMP opened at $525.33 on Thursday. The firm has a 50-day simple moving average of $539.74 and a 200-day simple moving average of $513.10. The stock has a market capitalization of $50.49 billion, a price-to-earnings ratio of 15.89, a price-to-earnings-growth ratio of 1.15 and a beta of 1.36. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 1.01. Ameriprise Financial, Inc. has a 52 week low of $385.74 and a 52 week high of $582.05.

Ameriprise Financial (NYSE:AMP) last released its quarterly earnings data on Wednesday, January 29th. The financial services provider reported $9.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $9.16 by $0.20. Ameriprise Financial had a net margin of 19.70% and a return on equity of 69.35%. On average, equities analysts predict that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current fiscal year.

Ameriprise Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Monday, February 10th will be given a dividend of $1.48 per share. This represents a $5.92 annualized dividend and a yield of 1.13%. The ex-dividend date is Monday, February 10th. Ameriprise Financial’s payout ratio is currently 17.91%.

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.