6,100 Shares in Ameriprise Financial, Inc. (NYSE:AMP) Acquired by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System bought a new stake in Ameriprise Financial, Inc. (NYSE:AMP) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 6,100 shares of the financial services provider’s stock, valued at approximately $2,317,000.

Several other hedge funds also recently added to or reduced their stakes in AMP. Morgan Stanley raised its stake in shares of Ameriprise Financial by 9.0% in the fourth quarter. Morgan Stanley now owns 2,375,581 shares of the financial services provider’s stock worth $739,686,000 after purchasing an additional 195,537 shares during the last quarter. Nuveen Asset Management LLC boosted its stake in shares of Ameriprise Financial by 29.7% in the second quarter. Nuveen Asset Management LLC now owns 1,673,748 shares of the financial services provider’s stock worth $555,952,000 after buying an additional 382,811 shares during the last quarter. Moneta Group Investment Advisors LLC boosted its stake in shares of Ameriprise Financial by 106,308.4% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 1,587,613 shares of the financial services provider’s stock worth $494,335,000 after buying an additional 1,586,121 shares during the last quarter. Norges Bank acquired a new stake in Ameriprise Financial during the fourth quarter worth about $389,527,000. Finally, Invesco Ltd. raised its position in Ameriprise Financial by 33.5% during the first quarter. Invesco Ltd. now owns 1,078,807 shares of the financial services provider’s stock valued at $324,031,000 after acquiring an additional 270,755 shares in the last quarter. 83.95% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO William F. Truscott sold 9,689 shares of Ameriprise Financial stock in a transaction that occurred on Friday, January 26th. The stock was sold at an average price of $390.22, for a total transaction of $3,780,841.58. Following the transaction, the chief executive officer now owns 12,126 shares in the company, valued at $4,731,807.72. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, CEO William F. Truscott sold 9,689 shares of the company’s stock in a transaction dated Friday, January 26th. The shares were sold at an average price of $390.22, for a total value of $3,780,841.58. Following the completion of the sale, the chief executive officer now owns 12,126 shares of the company’s stock, valued at $4,731,807.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO William F. Truscott sold 8,000 shares of Ameriprise Financial stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $412.05, for a total transaction of $3,296,400.00. Following the transaction, the chief executive officer now directly owns 13,134 shares in the company, valued at $5,411,864.70. The disclosure for this sale can be found here. Insiders sold 89,161 shares of company stock worth $35,560,647 over the last ninety days. Corporate insiders own 0.96% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently commented on AMP. Raymond James initiated coverage on Ameriprise Financial in a research report on Thursday, March 21st. They set a “market perform” rating on the stock. UBS Group raised their price objective on Ameriprise Financial from $440.00 to $445.00 and gave the company a “buy” rating in a report on Thursday, January 25th. The Goldman Sachs Group upped their target price on Ameriprise Financial from $437.00 to $488.00 and gave the stock a “buy” rating in a research note on Wednesday, March 27th. Keefe, Bruyette & Woods lifted their price target on shares of Ameriprise Financial from $420.00 to $460.00 and gave the company a “market perform” rating in a research note on Wednesday, April 10th. Finally, Royal Bank of Canada upped their price objective on shares of Ameriprise Financial from $410.00 to $420.00 and gave the stock an “outperform” rating in a research report on Monday, January 22nd. One research analyst has rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $441.00.

Ameriprise Financial Stock Performance

Shares of NYSE:AMP opened at $410.84 on Wednesday. The company has a debt-to-equity ratio of 1.17, a current ratio of 0.56 and a quick ratio of 0.56. Ameriprise Financial, Inc. has a 1 year low of $279.85 and a 1 year high of $440.67. The firm has a market capitalization of $41.16 billion, a PE ratio of 17.33, a P/E/G ratio of 0.68 and a beta of 1.36. The business’s 50 day moving average price is $415.72 and its 200-day moving average price is $376.51.

Ameriprise Financial (NYSE:AMP) last announced its earnings results on Thursday, January 25th. The financial services provider reported $7.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.67 by $0.08. Ameriprise Financial had a net margin of 16.27% and a return on equity of 77.39%. The company had revenue of $3.99 billion for the quarter, compared to analysts’ expectations of $3.90 billion. During the same quarter in the previous year, the company posted $6.94 EPS. The firm’s quarterly revenue was up 9.0% on a year-over-year basis. As a group, equities research analysts expect that Ameriprise Financial, Inc. will post 34.43 earnings per share for the current fiscal year.

Ameriprise Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, February 27th. Stockholders of record on Friday, February 9th were issued a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a dividend yield of 1.31%. The ex-dividend date of this dividend was Thursday, February 8th. Ameriprise Financial’s dividend payout ratio is currently 22.78%.

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.