Canada Post Corp Registered Pension Plan Makes New $993,000 Investment in Ameriprise Financial, Inc. (NYSE:AMP)

Canada Post Corp Registered Pension Plan acquired a new stake in shares of Ameriprise Financial, Inc. (NYSE:AMP - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 1,865 shares of the financial services provider's stock, valued at approximately $993,000.

A number of other institutional investors and hedge funds also recently modified their holdings of AMP. Norges Bank acquired a new stake in shares of Ameriprise Financial during the fourth quarter worth $689,272,000. JPMorgan Chase & Co. increased its stake in Ameriprise Financial by 12.1% in the 4th quarter. JPMorgan Chase & Co. now owns 4,801,913 shares of the financial services provider's stock worth $2,556,683,000 after purchasing an additional 516,437 shares in the last quarter. Proficio Capital Partners LLC raised its holdings in Ameriprise Financial by 79,679.4% during the 4th quarter. Proficio Capital Partners LLC now owns 371,772 shares of the financial services provider's stock worth $197,943,000 after buying an additional 371,306 shares during the period. Robeco Institutional Asset Management B.V. lifted its stake in Ameriprise Financial by 429.0% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 417,149 shares of the financial services provider's stock valued at $222,103,000 after buying an additional 338,298 shares in the last quarter. Finally, Amundi boosted its holdings in shares of Ameriprise Financial by 48.0% in the fourth quarter. Amundi now owns 642,226 shares of the financial services provider's stock worth $343,546,000 after buying an additional 208,195 shares during the period. Institutional investors and hedge funds own 83.95% of the company's stock.

Ameriprise Financial Stock Up 0.3 %

Shares of NYSE:AMP traded up $1.35 during midday trading on Friday, hitting $464.57. 492,165 shares of the stock were exchanged, compared to its average volume of 492,613. The company has a market capitalization of $44.51 billion, a PE ratio of 14.05, a P/E/G ratio of 1.15 and a beta of 1.23. Ameriprise Financial, Inc. has a 52-week low of $385.74 and a 52-week high of $582.05. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.59 and a current ratio of 0.59. The business's fifty day simple moving average is $494.40 and its two-hundred day simple moving average is $523.25.

Ameriprise Financial (NYSE:AMP - Get Free Report) last posted its quarterly earnings results on Wednesday, January 29th. The financial services provider reported $9.36 earnings per share for the quarter, topping analysts' consensus estimates of $9.16 by $0.20. Ameriprise Financial had a return on equity of 69.35% and a net margin of 19.70%. As a group, research analysts predict that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current fiscal year.

Ameriprise Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Monday, February 10th were paid a $1.48 dividend. This represents a $5.92 dividend on an annualized basis and a yield of 1.27%. The ex-dividend date of this dividend was Monday, February 10th. Ameriprise Financial's dividend payout ratio (DPR) is presently 17.91%.

Analyst Upgrades and Downgrades

AMP has been the topic of several analyst reports. Keefe, Bruyette & Woods dropped their target price on shares of Ameriprise Financial from $570.00 to $520.00 and set a "market perform" rating on the stock in a research report on Wednesday, April 9th. Morgan Stanley lifted their price objective on shares of Ameriprise Financial from $507.00 to $542.00 and gave the stock an "equal weight" rating in a research report on Tuesday, March 4th. UBS Group lowered Ameriprise Financial from a "buy" rating to a "neutral" rating and reduced their target price for the company from $580.00 to $570.00 in a report on Monday, January 6th. Royal Bank of Canada reiterated an "outperform" rating and set a $625.00 price target on shares of Ameriprise Financial in a report on Monday, February 3rd. Finally, Piper Sandler increased their price objective on Ameriprise Financial from $415.00 to $442.00 and gave the stock an "underweight" rating in a research note on Friday, January 31st. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and an average price target of $517.44.

Insider Buying and Selling at Ameriprise Financial

In other Ameriprise Financial news, Director Robert Francis Sharpe, Jr. sold 1,000 shares of the stock in a transaction on Wednesday, February 12th. The shares were sold at an average price of $523.12, for a total transaction of $523,120.00. Following the transaction, the director now directly owns 10,000 shares of the company's stock, valued at $5,231,200. This represents a 9.09 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Joseph Edward Sweeney sold 4,636 shares of the business's stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $539.07, for a total value of $2,499,128.52. Following the completion of the sale, the insider now directly owns 7,237 shares of the company's stock, valued at $3,901,249.59. This represents a 39.05 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 11,636 shares of company stock worth $6,263,989 over the last ninety days. 0.73% of the stock is currently owned by 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.