CIBC Asset Management Inc Lowers Stock Position in Ameriprise Financial, Inc. (NYSE:AMP)

CIBC Asset Management Inc lessened its stake in Ameriprise Financial, Inc. (NYSE:AMPFree Report) by 5.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,048 shares of the financial services provider’s stock after selling 795 shares during the period. CIBC Asset Management Inc’s holdings in Ameriprise Financial were worth $5,336,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Norges Bank purchased a new stake in Ameriprise Financial in the fourth quarter worth approximately $514,539,000. TD Asset Management Inc raised its position in shares of Ameriprise Financial by 151.5% in the 4th quarter. TD Asset Management Inc now owns 595,644 shares of the financial services provider’s stock worth $226,243,000 after acquiring an additional 358,780 shares in the last quarter. Qube Research & Technologies Ltd lifted its stake in shares of Ameriprise Financial by 134.4% in the 3rd quarter. Qube Research & Technologies Ltd now owns 208,570 shares of the financial services provider’s stock valued at $68,761,000 after purchasing an additional 119,578 shares during the period. Bank of Nova Scotia lifted its position in Ameriprise Financial by 925.7% during the 4th quarter. Bank of Nova Scotia now owns 127,513 shares of the financial services provider’s stock valued at $48,431,000 after acquiring an additional 115,081 shares during the period. Finally, Canada Pension Plan Investment Board boosted its position in shares of Ameriprise Financial by 398.5% in the 3rd quarter. Canada Pension Plan Investment Board now owns 100,100 shares of the financial services provider’s stock worth $33,001,000 after purchasing an additional 80,020 shares in the last quarter. Hedge funds and other institutional investors own 83.95% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Keefe, Bruyette & Woods boosted their price objective on shares of Ameriprise Financial from $420.00 to $460.00 and gave the stock a “market perform” rating in a report on Wednesday, April 10th. Morgan Stanley upped their price objective on Ameriprise Financial from $400.00 to $437.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 9th. Royal Bank of Canada increased their target price on Ameriprise Financial from $470.00 to $480.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 24th. The Goldman Sachs Group raised their target price on shares of Ameriprise Financial from $437.00 to $488.00 and gave the company a “buy” rating in a research note on Wednesday, March 27th. Finally, Evercore ISI raised their price objective on Ameriprise Financial from $400.00 to $445.00 and gave the company an “in-line” rating in a research report on Thursday, April 11th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Ameriprise Financial presently has a consensus rating of “Hold” and an average price target of $450.88.

View Our Latest Stock Report on AMP

Ameriprise Financial Price Performance

Ameriprise Financial stock opened at $427.65 on Thursday. Ameriprise Financial, Inc. has a 12-month low of $306.63 and a 12-month high of $442.79. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 1.13. The firm has a 50-day moving average price of $426.52 and a 200-day moving average price of $401.25. The firm has a market capitalization of $42.47 billion, a PE ratio of 14.56, a price-to-earnings-growth ratio of 0.74 and a beta of 1.36.

Ameriprise Financial (NYSE:AMPGet Free Report) last announced its quarterly earnings data on Wednesday, April 24th. The financial services provider reported $8.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $8.10 by $0.29. Ameriprise Financial had a net margin of 19.42% and a return on equity of 75.97%. The business had revenue of $4.15 billion during the quarter, compared to the consensus estimate of $4.15 billion. During the same quarter last year, the firm earned $7.25 earnings per share. The firm’s quarterly revenue was up 10.8% compared to the same quarter last year. As a group, equities research analysts forecast that Ameriprise Financial, Inc. will post 34.95 EPS for the current year.

Ameriprise Financial Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 17th. Stockholders of record on Monday, May 6th were paid a dividend of $1.48 per share. This is a positive change from Ameriprise Financial’s previous quarterly dividend of $1.35. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.38%. The ex-dividend date was Friday, May 3rd. Ameriprise Financial’s payout ratio is currently 20.15%.

Insider Buying and Selling

In related news, Director Robert Francis Sharpe, Jr. sold 1,500 shares of the company’s stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $438.07, for a total value of $657,105.00. Following the completion of the sale, the director now directly owns 11,000 shares of the company’s stock, valued at $4,818,770. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, SVP Dawn M. Brockman sold 224 shares of the business’s stock in a transaction dated Tuesday, March 26th. The stock was sold at an average price of $434.13, for a total transaction of $97,245.12. Following the sale, the senior vice president now owns 1,288 shares in the company, valued at $559,159.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Robert Francis Sharpe, Jr. sold 1,500 shares of the business’s stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $438.07, for a total transaction of $657,105.00. Following the sale, the director now directly owns 11,000 shares in the company, valued at approximately $4,818,770. The disclosure for this sale can be found here. Insiders have sold 3,376 shares of company stock valued at $1,476,274 in the last 90 days. Company insiders own 0.96% of the company’s stock.

About Ameriprise Financial

(Free Report)

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.

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Institutional Ownership by Quarter for Ameriprise Financial (NYSE:AMP)

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