Ameriprise Financial, Inc. (NYSE:AMP) Stock Position Lowered by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. decreased its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 65.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,142 shares of the financial services provider's stock after selling 19,155 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.'s holdings in Ameriprise Financial were worth $4,765,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in AMP. DiNuzzo Private Wealth Inc. boosted its holdings in Ameriprise Financial by 268.8% in the 2nd quarter. DiNuzzo Private Wealth Inc. now owns 59 shares of the financial services provider's stock worth $25,000 after acquiring an additional 43 shares during the period. Accordant Advisory Group Inc acquired a new stake in Ameriprise Financial during the 2nd quarter valued at $26,000. Mascoma Wealth Management LLC increased its stake in Ameriprise Financial by 153.8% during the 2nd quarter. Mascoma Wealth Management LLC now owns 66 shares of the financial services provider's stock worth $28,000 after buying an additional 40 shares during the period. Bank & Trust Co acquired a new position in Ameriprise Financial in the 2nd quarter worth $29,000. Finally, Hantz Financial Services Inc. purchased a new position in Ameriprise Financial in the 2nd quarter valued at about $29,000. 83.95% of the stock is owned by hedge funds and other institutional investors.

Ameriprise Financial Stock Up 0.3 %

Shares of NYSE:AMP opened at $572.07 on Friday. The company's fifty day moving average is $509.57 and its two-hundred day moving average is $458.07. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.65 and a current ratio of 0.65. Ameriprise Financial, Inc. has a 1-year low of $345.43 and a 1-year high of $575.37. The stock has a market capitalization of $55.50 billion, a price-to-earnings ratio of 21.96, a price-to-earnings-growth ratio of 0.99 and a beta of 1.34.

Ameriprise Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 15th. Shareholders 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 dividend on an annualized basis and a yield of 1.03%. Ameriprise Financial's dividend payout ratio is currently 22.73%.

Analysts Set New Price Targets

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

Insider Buying and Selling at Ameriprise Financial

In other Ameriprise Financial news, VP William Davies sold 8,700 shares of the firm's stock in a transaction on Friday, August 30th. The stock was sold at an average price of $442.07, for a total value of $3,846,009.00. Following the sale, the vice president now directly owns 13,199 shares in the company, valued at approximately $5,834,881.93. This trade represents 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 link. Also, 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 transaction of $4,882,804.80. Following the transaction, the chief financial officer now owns 6,409 shares of the company's stock, valued at $3,615,701.44. This represents a 57.45 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 30,415 shares of company stock worth $15,829,445 over the last ninety days. Company insiders own 0.73% of the company's stock.

Ameriprise Financial 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.