Texas Permanent School Fund lowered its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP – Get Rating) by 6.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,385 shares of the financial services provider’s stock after selling 1,049 shares during the period. Texas Permanent School Fund’s holdings in Ameriprise Financial were worth $4,321,000 as of its most recent SEC filing.
Several other hedge funds have also recently added to or reduced their stakes in AMP. Comprehensive Financial Consultants Institutional Inc. acquired a new position in shares of Ameriprise Financial during the 4th quarter valued at $32,000. Confluence Wealth Services Inc. acquired a new position in shares of Ameriprise Financial during the 4th quarter valued at $39,000. KRS Capital Management LLC acquired a new position in shares of Ameriprise Financial during the 4th quarter valued at $39,000. DeDora Capital Inc. acquired a new position in shares of Ameriprise Financial during the 1st quarter valued at $41,000. Finally, Covestor Ltd acquired a new position in shares of Ameriprise Financial during the 4th quarter valued at $49,000. Institutional investors own 82.69% of the company’s stock.
Analysts Set New Price Targets
Several brokerages have recently issued reports on AMP. UBS Group lowered their price target on Ameriprise Financial from $360.00 to $350.00 and set a “buy” rating on the stock in a research report on Tuesday, April 26th. Evercore ISI decreased their target price on Ameriprise Financial from $364.00 to $320.00 and set an “outperform” rating on the stock in a report on Wednesday, July 6th. Piper Sandler decreased their target price on Ameriprise Financial from $231.00 to $220.00 and set an “underweight” rating on the stock in a report on Friday, July 15th. The Goldman Sachs Group cut Ameriprise Financial from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $325.00 to $270.00 in a report on Friday, June 24th. Finally, Morgan Stanley lifted their target price on Ameriprise Financial from $255.00 to $270.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 27th. One analyst has rated the stock with a sell rating, three have given a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $311.78.
Ameriprise Financial Price Performance
Ameriprise Financial (NYSE:AMP – Get Rating) last released its quarterly earnings data on Tuesday, July 26th. The financial services provider reported $5.81 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.82 by ($0.01). Ameriprise Financial had a net margin of 23.49% and a return on equity of 53.86%. During the same period last year, the firm posted $5.27 EPS. Analysts forecast that Ameriprise Financial, Inc. will post 24.26 EPS for the current fiscal year.
Ameriprise Financial Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 19th. Investors of record on Monday, August 8th will be given a dividend of $1.25 per share. The ex-dividend date of this dividend is Friday, August 5th. This represents a $5.00 dividend on an annualized basis and a yield of 1.86%. Ameriprise Financial’s payout ratio is 18.01%.
Ameriprise Financial Company Profile
Ameriprise Financial, Inc, through 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.
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