Public Employees Retirement Association of Colorado Cuts Holdings in Ameriprise Financial, Inc. (NYSE:AMP)

Public Employees Retirement Association of Colorado lessened its holdings in Ameriprise Financial, Inc. (NYSE:AMP) by 2.8% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 13,867 shares of the financial services provider’s stock after selling 404 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Ameriprise Financial were worth $5,924,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in AMP. Ieq Capital LLC lifted its holdings in Ameriprise Financial by 5.8% during the second quarter. Ieq Capital LLC now owns 7,579 shares of the financial services provider’s stock worth $3,238,000 after buying an additional 416 shares during the period. Brighton Jones LLC lifted its stake in shares of Ameriprise Financial by 13.9% during the 2nd quarter. Brighton Jones LLC now owns 771 shares of the financial services provider’s stock worth $329,000 after purchasing an additional 94 shares during the last quarter. Sienna Gestion grew its stake in Ameriprise Financial by 2.0% in the second quarter. Sienna Gestion now owns 26,710 shares of the financial services provider’s stock valued at $11,405,000 after purchasing an additional 527 shares during the last quarter. Seven Eight Capital LP raised its holdings in Ameriprise Financial by 186.0% in the second quarter. Seven Eight Capital LP now owns 6,673 shares of the financial services provider’s stock worth $2,851,000 after purchasing an additional 4,340 shares in the last quarter. Finally, Hsbc Holdings PLC lifted its position in shares of Ameriprise Financial by 13.8% during the second quarter. Hsbc Holdings PLC now owns 352,197 shares of the financial services provider’s stock valued at $150,745,000 after buying an additional 42,605 shares during the last quarter. 83.95% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently commented on AMP shares. Royal Bank of Canada increased their target price on shares of 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 lowered their price objective on Ameriprise Financial from $444.00 to $440.00 and set an “equal weight” rating for the company in a research report on Monday, July 29th. Piper Sandler reduced their target price on Ameriprise Financial from $390.00 to $387.00 and set an “underweight” rating on the stock in a research report on Friday, June 28th. Keefe, Bruyette & Woods lowered their price target on Ameriprise Financial from $470.00 to $460.00 and set a “market perform” rating for the company in a report on Tuesday, July 30th. Finally, Jefferies Financial Group upped their price objective on shares of Ameriprise Financial from $500.00 to $504.00 and gave the company a “buy” rating in a report on Friday, June 28th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, Ameriprise Financial currently has a consensus rating of “Hold” and an average price target of $464.33.

Insider Buying and Selling at Ameriprise Financial

In other news, VP William Davies sold 8,700 shares of the company’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $442.07, for a total value of $3,846,009.00. Following the sale, the vice president now owns 13,199 shares in the company, valued at $5,834,881.93. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.73% of the company’s stock.

Ameriprise Financial Trading Down 0.7 %

Shares of NYSE:AMP opened at $460.61 on Monday. The business has a 50-day moving average price of $430.15 and a 200-day moving average price of $428.68. The stock has a market cap of $45.75 billion, a price-to-earnings ratio of 15.68, a PEG ratio of 0.75 and a beta of 1.35. Ameriprise Financial, Inc. has a 52-week low of $306.63 and a 52-week high of $465.82. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 1.16.

Ameriprise Financial (NYSE:AMP) last announced its quarterly earnings data on Wednesday, July 24th. The financial services provider reported $8.72 EPS for the quarter, beating the consensus estimate of $8.53 by $0.19. Ameriprise Financial had a net margin of 18.64% and a return on equity of 73.83%. The business had revenue of $4.39 billion during the quarter, compared to analysts’ expectations of $4.24 billion. During the same period in the previous year, the business posted $7.44 EPS. The business’s quarterly revenue was up 9.6% compared to the same quarter last year. Equities analysts predict that Ameriprise Financial, Inc. will post 34.81 EPS for the current year.

Ameriprise Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 16th. Shareholders of record on Monday, August 5th were paid a dividend of $1.48 per share. The ex-dividend date of this dividend was Monday, August 5th. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.29%. Ameriprise Financial’s payout ratio is currently 20.15%.

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.