CIBC Asset Management Inc increased its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 7.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 14,624 shares of the financial services provider's stock after buying an additional 958 shares during the quarter. CIBC Asset Management Inc's holdings in Ameriprise Financial were worth $6,871,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors have also recently added to or reduced their stakes in the business. Legacy Capital Wealth Partners LLC raised its stake in shares of Ameriprise Financial by 2.0% in the 3rd quarter. Legacy Capital Wealth Partners LLC now owns 1,022 shares of the financial services provider's stock worth $480,000 after buying an additional 20 shares in the last quarter. Ledyard National Bank raised its stake in shares of Ameriprise Financial by 3.2% in the 3rd quarter. Ledyard National Bank now owns 733 shares of the financial services provider's stock worth $344,000 after buying an additional 23 shares in the last quarter. Heartland Bank & Trust Co raised its stake in shares of Ameriprise Financial by 0.9% in the 2nd quarter. Heartland Bank & Trust Co now owns 2,755 shares of the financial services provider's stock worth $1,177,000 after buying an additional 24 shares in the last quarter. Portside Wealth Group LLC raised its stake in shares of Ameriprise Financial by 3.7% in the 2nd quarter. Portside Wealth Group LLC now owns 697 shares of the financial services provider's stock worth $298,000 after buying an additional 25 shares in the last quarter. Finally, Coldstream Capital Management Inc. raised its stake in shares of Ameriprise Financial by 0.7% in the 2nd quarter. Coldstream Capital Management Inc. now owns 3,760 shares of the financial services provider's stock worth $1,606,000 after buying an additional 26 shares in the last quarter. 83.95% of the stock is currently owned by hedge funds and other institutional investors.
In related news, VP William Davies sold 8,700 shares of the stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $442.07, for a total transaction of $3,846,009.00. Following the sale, the vice president now directly owns 13,199 shares in the company, valued at $5,834,881.93. This represents a 39.73 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Walter Stanley Berman sold 8,655 shares of the stock in a transaction that occurred 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 owns 6,409 shares in the company, valued at approximately $3,615,701.44. This trade represents a 57.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 30,415 shares of company stock worth $15,829,445 in the last three months. Insiders own 0.73% of the company's stock.
AMP stock opened at $562.44 on Monday. Ameriprise Financial, Inc. has a 1-year low of $342.96 and a 1-year high of $569.47. The firm has a market cap of $54.56 billion, a P/E ratio of 21.59, a P/E/G ratio of 0.98 and a beta of 1.34. The business's 50 day moving average is $496.55 and its 200-day moving average is $453.22. 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 business also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Monday, November 4th were paid 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 is currently 22.73%.
A number of analysts have recently commented on the company. The Goldman Sachs Group downgraded Ameriprise Financial from a "buy" rating to a "neutral" rating and dropped their price objective for the stock from $485.00 to $476.00 in a research note on Thursday, September 26th. Morgan Stanley lifted their target price on Ameriprise Financial from $440.00 to $502.00 and gave the stock an "equal weight" rating in a report on Thursday, October 17th. UBS Group lifted their target price on 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 lifted their price target on Ameriprise Financial from $475.00 to $510.00 and gave the company a "market perform" rating in a report on Tuesday, October 29th. Finally, 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 report on Friday, October 25th. One research analyst has rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, Ameriprise Financial currently has a consensus rating of "Hold" and an average target price of $487.67.
View Our Latest Analysis on AMP
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.
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