Kentucky Retirement Systems Decreases Position in Ameriprise Financial, Inc. (NYSE:AMP)

Kentucky Retirement Systems decreased its stake in Ameriprise Financial, Inc. (NYSE:AMP) by 8.6% in the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 6,840 shares of the financial services provider’s stock after selling 645 shares during the quarter. Kentucky Retirement Systems’ holdings in Ameriprise Financial were worth $3,214,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the stock. Dimensional Fund Advisors LP increased its position in Ameriprise Financial by 10.8% during the second quarter. Dimensional Fund Advisors LP now owns 1,129,632 shares of the financial services provider’s stock valued at $482,588,000 after acquiring an additional 110,319 shares during the last quarter. Legal & General Group Plc raised its position in Ameriprise Financial by 1.4% in the 2nd quarter. Legal & General Group Plc now owns 823,249 shares of the financial services provider’s stock worth $351,685,000 after purchasing an additional 11,060 shares during the period. AGF Management Ltd. lifted its stake in Ameriprise Financial by 35.4% in the second quarter. AGF Management Ltd. now owns 504,657 shares of the financial services provider’s stock worth $215,584,000 after purchasing an additional 131,844 shares during the last quarter. Epoch Investment Partners Inc. boosted its position in shares of Ameriprise Financial by 3.9% during the second quarter. Epoch Investment Partners Inc. now owns 458,565 shares of the financial services provider’s stock valued at $195,894,000 after buying an additional 17,312 shares during the period. Finally, Federated Hermes Inc. grew its stake in shares of Ameriprise Financial by 25.3% during the second quarter. Federated Hermes Inc. now owns 427,986 shares of the financial services provider’s stock valued at $182,831,000 after buying an additional 86,315 shares during the last quarter. Institutional investors own 83.95% of the company’s stock.

Insider Transactions at Ameriprise Financial

In related news, CFO Walter Stanley Berman sold 8,655 shares of the stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $564.16, for a total transaction of $4,882,804.80. Following the completion of the sale, the chief financial officer now owns 6,409 shares of the company’s stock, valued at $3,615,701.44. This represents a 57.45 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, VP William Davies sold 8,700 shares of Ameriprise Financial stock in a transaction on Friday, August 30th. The stock was sold at an average price of $442.07, for a total transaction of $3,846,009.00. Following the completion of the transaction, the vice president now directly owns 13,199 shares in the company, valued at $5,834,881.93. This represents a 39.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 30,415 shares of company stock valued at $15,829,445. Corporate insiders own 0.73% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently issued reports on AMP. Royal Bank of Canada boosted their price objective on Ameriprise Financial from $535.00 to $550.00 and gave the company an “outperform” rating in a report on Friday, October 25th. Morgan Stanley boosted their target price on shares of Ameriprise Financial from $440.00 to $502.00 and gave the company an “equal weight” rating in a research note on Thursday, October 17th. UBS Group raised their price target on shares of Ameriprise Financial from $490.00 to $555.00 and gave the stock a “buy” rating in a research note on Tuesday, October 8th. Keefe, Bruyette & Woods lifted their price objective on shares of Ameriprise Financial from $475.00 to $510.00 and gave the company a “market perform” rating in a report on Tuesday, October 29th. Finally, The Goldman Sachs Group downgraded shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $485.00 to $476.00 in a research note on Thursday, September 26th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $487.67.

Ameriprise Financial Price Performance

NYSE AMP opened at $562.44 on Friday. The company has a market cap of $54.57 billion, a PE ratio of 21.59, a P/E/G ratio of 0.97 and a beta of 1.34. The firm’s 50 day moving average price is $496.55 and its 200-day moving average price is $452.94. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.65 and a current ratio of 0.65. Ameriprise Financial, Inc. has a 52-week low of $342.96 and a 52-week high of $569.47.

Ameriprise Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Monday, November 4th were issued a $1.48 dividend. The ex-dividend date of this dividend was Monday, November 4th. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.05%. Ameriprise Financial’s dividend payout ratio is presently 22.73%.

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.