Teachers Retirement System of The State of Kentucky Sells 19,884 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

Teachers Retirement System of The State of Kentucky lowered its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 18.4% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 88,148 shares of the financial services provider’s stock after selling 19,884 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Ameriprise Financial were worth $41,412,000 as of its most recent filing with the SEC.

A number of other large investors have also added to or reduced their stakes in the stock. DiNuzzo Private Wealth Inc. lifted its stake in Ameriprise Financial by 268.8% in the second quarter. DiNuzzo Private Wealth Inc. now owns 59 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 43 shares during the last quarter. Accordant Advisory Group Inc bought a new stake in Ameriprise Financial during the 2nd quarter valued at $26,000. Mascoma Wealth Management LLC lifted its position in shares of Ameriprise Financial by 153.8% during the second quarter. Mascoma Wealth Management LLC now owns 66 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 40 shares in the last quarter. Hantz Financial Services Inc. bought a new position in shares of Ameriprise Financial in the second quarter worth $29,000. Finally, Oakworth Capital Inc. purchased a new position in shares of Ameriprise Financial in the third quarter valued at $31,000. Hedge funds and other institutional investors own 83.95% of the company’s stock.

Ameriprise Financial Stock Performance

Shares of NYSE:AMP opened at $546.23 on Wednesday. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.99. The company has a 50-day moving average price of $532.92 and a 200-day moving average price of $468.55. The company has a market cap of $52.99 billion, a price-to-earnings ratio of 20.97, a price-to-earnings-growth ratio of 0.98 and a beta of 1.34. Ameriprise Financial, Inc. has a 12 month low of $358.89 and a 12 month high of $577.00.

Ameriprise Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Monday, November 4th were issued a $1.48 dividend. This represents a $5.92 annualized dividend and a yield of 1.08%. The ex-dividend date of this dividend was Monday, November 4th. Ameriprise Financial’s dividend payout ratio (DPR) is currently 22.73%.

Analysts Set New Price Targets

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

Insider Activity

In related news, CFO Walter Stanley Berman sold 8,655 shares of the stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $564.16, for a total value of $4,882,804.80. Following the completion of the transaction, the chief financial officer now directly 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 filing with the Securities & Exchange Commission, which is available at this link. Also, insider Gumer Alvero sold 2,325 shares of the company’s stock in a transaction that occurred on Thursday, October 31st. The stock was sold at an average price of $516.05, for a total value of $1,199,816.25. Following the transaction, the insider now owns 4,669 shares in the company, valued at $2,409,437.45. This trade represents a 33.24 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 21,715 shares of company stock valued at $11,983,436. Company insiders own 0.73% of the company’s stock.

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.