Public Employees Retirement System of Ohio Decreases Position in Ameriprise Financial, Inc. (NYSE:AMP)

Public Employees Retirement System of Ohio lowered its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 7.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 43,082 shares of the financial services provider’s stock after selling 3,494 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Ameriprise Financial were worth $20,240,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Nomura Asset Management Co. Ltd. raised its holdings in shares of Ameriprise Financial by 1.9% in the third quarter. Nomura Asset Management Co. Ltd. now owns 42,482 shares of the financial services provider’s stock worth $19,958,000 after buying an additional 792 shares during the last quarter. MML Investors Services LLC lifted its position in Ameriprise Financial by 2.3% during the 3rd quarter. MML Investors Services LLC now owns 89,016 shares of the financial services provider’s stock worth $41,821,000 after acquiring an additional 1,986 shares during the period. Orion Portfolio Solutions LLC increased its holdings in shares of Ameriprise Financial by 12.8% in the third quarter. Orion Portfolio Solutions LLC now owns 8,449 shares of the financial services provider’s stock valued at $3,969,000 after purchasing an additional 961 shares during the period. Zacks Investment Management raised its stake in shares of Ameriprise Financial by 7.1% in the third quarter. Zacks Investment Management now owns 78,457 shares of the financial services provider’s stock worth $36,860,000 after purchasing an additional 5,209 shares during the last quarter. Finally, National Bank of Canada FI boosted its position in Ameriprise Financial by 112.3% in the third quarter. National Bank of Canada FI now owns 105,868 shares of the financial services provider’s stock valued at $49,738,000 after buying an additional 56,002 shares during the last quarter. 83.95% of the stock is owned by hedge funds and other institutional investors.

Ameriprise Financial Price Performance

Shares of Ameriprise Financial stock opened at $546.23 on Wednesday. The firm has a market cap of $52.99 billion, a PE ratio of 20.97, a P/E/G ratio of 0.98 and a beta of 1.34. Ameriprise Financial, Inc. has a twelve month low of $358.89 and a twelve month high of $577.00. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.99. The business has a 50-day moving average price of $532.92 and a 200 day moving average price of $468.55.

Ameriprise Financial Dividend Announcement

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

Wall Street Analyst Weigh In

Several analysts have commented on the stock. The Goldman Sachs Group cut shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $485.00 to $476.00 in a research note on Thursday, September 26th. Morgan Stanley upped their price target on shares of Ameriprise Financial from $440.00 to $502.00 and gave the company an “equal weight” rating in a report on Thursday, October 17th. Royal Bank of Canada lifted their price objective on Ameriprise Financial from $535.00 to $550.00 and gave the company an “outperform” rating in a research note on Friday, October 25th. UBS Group boosted their price objective on Ameriprise Financial from $490.00 to $555.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. Finally, Keefe, Bruyette & Woods raised their target price 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 equities research analyst has rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $487.67.

Insider Transactions at Ameriprise Financial

In related news, insider Gumer Alvero sold 2,325 shares of the firm’s stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $516.05, for a total value of $1,199,816.25. Following the transaction, the insider now directly owns 4,669 shares of the company’s stock, valued at approximately $2,409,437.45. This trade represents a 33.24 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Walter Stanley Berman sold 8,655 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $564.16, for a total value of $4,882,804.80. Following the sale, the chief financial officer now owns 6,409 shares of the company’s stock, valued at approximately $3,615,701.44. This trade represents a 57.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 21,715 shares of company stock valued at $11,983,436 in the last three months. 0.73% of the stock is currently owned by company 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.