Ameriprise Financial, Inc. (NYSE:AMP) Stake Increased by CIBC Asset Management Inc

CIBC Asset Management Inc raised its position in Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 7.0% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,624 shares of the financial services provider's stock after purchasing an additional 958 shares during the quarter. CIBC Asset Management Inc's holdings in Ameriprise Financial were worth $6,871,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Dimensional Fund Advisors LP grew its position in Ameriprise Financial by 10.8% in the second quarter. Dimensional Fund Advisors LP now owns 1,129,632 shares of the financial services provider's stock valued at $482,588,000 after acquiring an additional 110,319 shares in the last quarter. Legal & General Group Plc raised its holdings in Ameriprise Financial by 1.4% in the second quarter. Legal & General Group Plc now owns 823,249 shares of the financial services provider's stock valued at $351,685,000 after acquiring an additional 11,060 shares in the last quarter. AGF Management Ltd. grew its holdings in Ameriprise Financial by 35.4% during the 2nd quarter. AGF Management Ltd. now owns 504,657 shares of the financial services provider's stock worth $215,584,000 after acquiring an additional 131,844 shares in the last quarter. Epoch Investment Partners Inc. increased its position in shares of Ameriprise Financial by 3.9% in the 2nd quarter. Epoch Investment Partners Inc. now owns 458,565 shares of the financial services provider's stock worth $195,894,000 after purchasing an additional 17,312 shares during the last quarter. Finally, Federated Hermes Inc. raised its stake in shares of Ameriprise Financial by 25.3% in the 2nd quarter. Federated Hermes Inc. now owns 427,986 shares of the financial services provider's stock valued at $182,831,000 after purchasing an additional 86,315 shares in the last quarter. 83.95% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Ameriprise Financial

In other Ameriprise Financial news, VP William Davies sold 8,700 shares of Ameriprise Financial stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $442.07, for a total value of $3,846,009.00. Following the transaction, the vice president now owns 13,199 shares in the company, valued at approximately $5,834,881.93. The trade was a 39.73 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Walter Stanley Berman sold 8,655 shares of the firm's stock in a transaction 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 directly owns 6,409 shares of the company's stock, valued at approximately $3,615,701.44. This represents a 57.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 30,415 shares of company stock valued at $15,829,445 over the last 90 days. 0.73% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Morgan Stanley lifted their price target on Ameriprise Financial from $440.00 to $502.00 and gave the stock an "equal weight" rating in a research note on Thursday, October 17th. The Goldman Sachs Group lowered Ameriprise Financial from a "buy" rating to a "neutral" rating and dropped their price target for the company from $485.00 to $476.00 in a research report on Thursday, September 26th. UBS Group lifted their price objective 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. Keefe, Bruyette & Woods increased their target price on shares of Ameriprise Financial from $475.00 to $510.00 and gave the stock a "market perform" rating in a report on Tuesday, October 29th. Finally, Royal Bank of Canada raised their price target on shares of Ameriprise Financial from $535.00 to $550.00 and gave the stock an "outperform" rating in a research report on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, Ameriprise Financial has a consensus rating of "Hold" and a consensus target price of $487.67.

Ameriprise Financial Price Performance

Shares of NYSE AMP traded up $2.60 during mid-day trading on Monday, reaching $565.04. 507,181 shares of the company traded hands, compared to its average volume of 471,140. The firm has a market cap of $54.81 billion, a PE ratio of 21.59, a price-to-earnings-growth ratio of 0.98 and a beta of 1.34. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.65 and a quick ratio of 0.65. Ameriprise Financial, Inc. has a fifty-two week low of $343.98 and a fifty-two week high of $569.47. The stock has a fifty day simple moving average of $496.55 and a 200-day simple moving average of $453.22.

Ameriprise Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Monday, November 4th were issued a $1.48 dividend. The ex-dividend date of this dividend was Monday, November 4th. This represents a $5.92 annualized dividend and a dividend yield of 1.05%. Ameriprise Financial's dividend payout ratio (DPR) is 22.73%.

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.