BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Sells 2,617 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp decreased its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 13.6% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 16,573 shares of the financial services provider's stock after selling 2,617 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp's holdings in Ameriprise Financial were worth $7,786,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the stock. DiNuzzo Private Wealth Inc. raised its stake in shares of Ameriprise Financial by 268.8% in the 2nd quarter. DiNuzzo Private Wealth Inc. now owns 59 shares of the financial services provider's stock valued at $25,000 after buying an additional 43 shares in the last quarter. Accordant Advisory Group Inc bought a new position in Ameriprise Financial during the second quarter worth about $26,000. Mascoma Wealth Management LLC boosted its holdings in Ameriprise Financial by 153.8% during the second quarter. Mascoma Wealth Management LLC now owns 66 shares of the financial services provider's stock valued at $28,000 after purchasing an additional 40 shares in the last quarter. Bank & Trust Co bought a new stake in shares of Ameriprise Financial in the 2nd quarter valued at approximately $29,000. Finally, Hantz Financial Services Inc. acquired a new position in shares of Ameriprise Financial in the 2nd quarter worth approximately $29,000. Institutional investors own 83.95% of the company's stock.

Insider Activity at Ameriprise Financial

In related news, CFO Walter Stanley Berman sold 8,655 shares of the company's stock in a transaction dated 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 completion of the sale, the chief financial officer now owns 6,409 shares in the company, valued at approximately $3,615,701.44. This represents a 57.45 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Gumer Alvero sold 2,325 shares of the company'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 completion of the sale, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 21,715 shares of company stock worth $11,983,436 over the last 90 days. Insiders own 0.73% of the company's stock.

Ameriprise Financial Price Performance

Shares of Ameriprise Financial stock traded down $8.72 during midday trading on Monday, reaching $565.25. The company had a trading volume of 558,716 shares, compared to its average volume of 470,722. The stock has a fifty day simple moving average of $523.42 and a 200 day simple moving average of $464.08. Ameriprise Financial, Inc. has a 1-year low of $349.90 and a 1-year high of $577.00. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.99. The company has a market capitalization of $54.84 billion, a price-to-earnings ratio of 21.70, a price-to-earnings-growth ratio of 1.00 and a beta of 1.34.

Ameriprise Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Monday, November 4th were paid a dividend of $1.48 per share. This represents a $5.92 annualized dividend and a dividend yield of 1.05%. 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 brokerages recently commented on AMP. Royal Bank of Canada boosted their price target 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 upped their target price on shares of Ameriprise Financial from $490.00 to $555.00 and gave the stock a "buy" rating in a report on Tuesday, October 8th. Morgan Stanley lifted 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. Keefe, Bruyette & Woods upped their price objective on shares of Ameriprise Financial from $475.00 to $510.00 and gave the stock a "market perform" rating in a research note on Tuesday, October 29th. Finally, The Goldman Sachs Group lowered shares of Ameriprise Financial from a "buy" rating to a "neutral" rating and dropped their price objective for the stock from $485.00 to $476.00 in a report on Thursday, September 26th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $487.67.

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.