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

CIBC Asset Management Inc raised its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 3.1% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 15,082 shares of the financial services provider's stock after acquiring an additional 458 shares during the period. CIBC Asset Management Inc's holdings in Ameriprise Financial were worth $8,030,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Sanctuary Advisors LLC raised its stake in Ameriprise Financial by 0.5% during the 4th quarter. Sanctuary Advisors LLC now owns 16,374 shares of the financial services provider's stock valued at $8,970,000 after acquiring an additional 88 shares during the last quarter. J.W. Cole Advisors Inc. raised its stake in Ameriprise Financial by 9.4% during the 4th quarter. J.W. Cole Advisors Inc. now owns 755 shares of the financial services provider's stock valued at $402,000 after acquiring an additional 65 shares during the last quarter. Csenge Advisory Group raised its stake in Ameriprise Financial by 5.2% during the 4th quarter. Csenge Advisory Group now owns 794 shares of the financial services provider's stock valued at $423,000 after acquiring an additional 39 shares during the last quarter. Strategic Financial Concepts LLC purchased a new stake in Ameriprise Financial during the 4th quarter valued at approximately $10,066,000. Finally, Principal Securities Inc. raised its stake in Ameriprise Financial by 3.0% during the 4th quarter. Principal Securities Inc. now owns 4,843 shares of the financial services provider's stock valued at $2,579,000 after acquiring an additional 141 shares during the last quarter. 83.95% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Ameriprise Financial news, CEO William F. Truscott sold 6,000 shares of the stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $540.29, for a total transaction of $3,241,740.00. Following the transaction, the chief executive officer now owns 14,023 shares of the company's stock, valued at $7,576,486.67. This represents a 29.97 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Robert Francis Sharpe, Jr. sold 1,000 shares of Ameriprise Financial stock in a transaction on Wednesday, February 12th. The shares were sold at an average price of $523.12, for a total value of $523,120.00. Following the completion of the sale, the director now directly owns 10,000 shares of the company's stock, valued at approximately $5,231,200. This represents a 9.09 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.73% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on AMP shares. UBS Group cut Ameriprise Financial from a "buy" rating to a "neutral" rating and dropped their target price for the stock from $580.00 to $570.00 in a research report on Monday, January 6th. Keefe, Bruyette & Woods boosted their target price on Ameriprise Financial from $560.00 to $570.00 and gave the stock a "market perform" rating in a research report on Monday, February 3rd. Piper Sandler boosted their target price on Ameriprise Financial from $415.00 to $442.00 and gave the stock an "underweight" rating in a research report on Friday, January 31st. Finally, Royal Bank of Canada reiterated an "outperform" rating and set a $625.00 target price on shares of Ameriprise Financial in a research report on Monday, February 3rd. One investment analyst has rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat, Ameriprise Financial currently has a consensus rating of "Hold" and a consensus target price of $510.44.

Ameriprise Financial Price Performance

Shares of AMP traded down $11.94 on Friday, reaching $529.08. The stock had a trading volume of 168,047 shares, compared to its average volume of 539,301. The firm has a market capitalization of $51.33 billion, a PE ratio of 15.97, a PEG ratio of 1.19 and a beta of 1.36. The company has a quick ratio of 0.65, a current ratio of 0.59 and a debt-to-equity ratio of 1.01. The firm has a 50-day moving average of $540.89 and a 200 day moving average of $508.68. Ameriprise Financial, Inc. has a twelve month low of $385.74 and a twelve month high of $582.05.

Ameriprise Financial (NYSE:AMP - Get Free Report) last released 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%. Sell-side analysts expect that Ameriprise Financial, Inc. will post 38.55 EPS for the current year.

Ameriprise Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Monday, February 10th will be issued a $1.48 dividend. The ex-dividend date is Monday, February 10th. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.12%. Ameriprise Financial's dividend payout ratio (DPR) is 17.91%.

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.