Ameriprise Financial, Inc. (NYSE:AMP) Shares Sold by BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lessened its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 13.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund 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 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Tidal Investments LLC grew its holdings in shares of Ameriprise Financial by 9.3% during the first quarter. Tidal Investments LLC now owns 3,153 shares of the financial services provider’s stock worth $1,382,000 after purchasing an additional 268 shares during the last quarter. Cetera Investment Advisers increased its position in Ameriprise Financial by 335.6% during the first quarter. Cetera Investment Advisers now owns 34,321 shares of the financial services provider’s stock worth $15,048,000 after buying an additional 26,442 shares during the period. Cetera Advisors LLC lifted its stake in Ameriprise Financial by 55.6% in the first quarter. Cetera Advisors LLC now owns 10,900 shares of the financial services provider’s stock valued at $4,779,000 after buying an additional 3,895 shares during the last quarter. DNB Asset Management AS boosted its holdings in shares of Ameriprise Financial by 4.8% in the second quarter. DNB Asset Management AS now owns 17,276 shares of the financial services provider’s stock valued at $7,380,000 after acquiring an additional 796 shares during the period. Finally, Bank & Trust Co purchased a new position in shares of Ameriprise Financial during the second quarter worth approximately $29,000. 83.95% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Keefe, Bruyette & Woods increased their price target 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. UBS Group increased their target price on shares of Ameriprise Financial from $490.00 to $555.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. Royal Bank of Canada boosted their price target on Ameriprise Financial from $535.00 to $550.00 and gave the stock an “outperform” rating in a research note on Friday, October 25th. 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. Finally, The Goldman Sachs Group downgraded Ameriprise Financial from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $485.00 to $476.00 in a research report on Thursday, September 26th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $487.67.

Insider Buying and Selling

In other news, CFO Walter Stanley Berman sold 8,655 shares of the stock in a transaction dated Monday, November 11th. The shares were 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 directly owns 6,409 shares in the company, valued at $3,615,701.44. This represents a 57.45 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Gumer Alvero sold 2,325 shares of the company’s stock in a transaction that occurred on Thursday, October 31st. The stock was sold at an average price of $516.05, for a total transaction of $1,199,816.25. Following the transaction, the insider now directly owns 4,669 shares of the company’s stock, valued at $2,409,437.45. This trade represents a 33.24 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 21,715 shares of company stock worth $11,983,436. 0.73% of the stock is owned by insiders.

Ameriprise Financial Trading Up 0.4 %

Ameriprise Financial stock opened at $573.97 on Monday. The stock has a market cap of $55.68 billion, a PE ratio of 22.03, a P/E/G ratio of 1.00 and a beta of 1.34. 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 stock has a 50-day moving average price of $521.35 and a 200 day moving average price of $463.17. Ameriprise Financial, Inc. has a 52 week low of $347.74 and a 52 week high of $577.00.

Ameriprise Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Investors 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 1.03%. The ex-dividend date was Monday, November 4th. Ameriprise Financial’s payout ratio is 22.73%.

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.