Kentucky Retirement Systems Has $3.59 Million Holdings in Ameriprise Financial, Inc. (NYSE:AMP)

Kentucky Retirement Systems decreased its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 1.4% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 6,747 shares of the financial services provider’s stock after selling 93 shares during the period. Kentucky Retirement Systems’ holdings in Ameriprise Financial were worth $3,592,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Wingate Wealth Advisors Inc. bought a new position in Ameriprise Financial during the fourth quarter worth $30,000. Sound Income Strategies LLC acquired a new position in shares of Ameriprise Financial during the fourth quarter valued at about $36,000. Golden State Wealth Management LLC bought a new position in shares of Ameriprise Financial during the 4th quarter worth about $38,000. Albion Financial Group UT acquired a new stake in shares of Ameriprise Financial in the 4th quarter valued at about $46,000. Finally, Peterson Financial Group Inc. bought a new stake in Ameriprise Financial in the 3rd quarter valued at about $45,000. Institutional investors own 83.95% of the company’s stock.

Ameriprise Financial Trading Down 2.0 %

NYSE AMP opened at $530.18 on Friday. The company has a current ratio of 0.59, a quick ratio of 0.65 and a debt-to-equity ratio of 1.01. The business has a fifty day simple moving average of $540.89 and a 200 day simple moving average of $508.68. Ameriprise Financial, Inc. has a 12 month low of $385.74 and a 12 month high of $582.05. The firm has a market capitalization of $51.44 billion, a P/E ratio of 16.04, a PEG ratio of 1.19 and a beta of 1.36.

Ameriprise Financial (NYSE:AMP) last posted its earnings results 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, analysts predict that Ameriprise Financial, Inc. will post 38.55 EPS 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. Shareholders of record on Monday, February 10th will be paid a $1.48 dividend. The ex-dividend date is Monday, February 10th. This represents a $5.92 annualized dividend and a yield of 1.12%. Ameriprise Financial’s dividend payout ratio (DPR) is 17.91%.

Wall Street Analyst Weigh In

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

Insiders Place Their Bets

In other news, CEO William F. Truscott sold 6,000 shares of the firm’s stock in a transaction on Thursday, February 6th. The stock was 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 of the company’s stock, valued at $7,576,486.67. This trade represents a 29.97 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Robert Francis Sharpe, Jr. sold 1,000 shares of Ameriprise Financial stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $523.12, for a total value of $523,120.00. Following the sale, the director now owns 10,000 shares in the company, valued at $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. Insiders have sold a total of 11,636 shares of company stock valued at $6,263,989 in the last 90 days. 0.73% of the stock is currently owned by corporate insiders.

Ameriprise Financial Company 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.