BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Cuts Stock Position in Ameriprise Financial, Inc. (NYSE:AMP)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp trimmed its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 13.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 16,573 shares of the financial services provider’s stock after selling 2,617 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Ameriprise Financial were worth $7,786,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of AMP. Maj Invest Holding A S purchased a new position in Ameriprise Financial in the 3rd quarter valued at about $98,742,000. The Manufacturers Life Insurance Company lifted its position in shares of Ameriprise Financial by 144.0% in the third quarter. The Manufacturers Life Insurance Company now owns 243,385 shares of the financial services provider’s stock valued at $114,345,000 after acquiring an additional 143,648 shares in the last quarter. AGF Management Ltd. boosted its stake in shares of Ameriprise Financial by 35.4% in the second 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 during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Ameriprise Financial by 10.8% during the second quarter. Dimensional Fund Advisors LP now owns 1,129,632 shares of the financial services provider’s stock worth $482,588,000 after purchasing an additional 110,319 shares in the last quarter. Finally, International Assets Investment Management LLC acquired a new position in Ameriprise Financial in the 3rd quarter valued at $456,890,000. Institutional investors and hedge funds own 83.95% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on AMP shares. 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 research report on Tuesday, October 8th. Keefe, Bruyette & Woods raised their target price 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. The Goldman Sachs Group cut Ameriprise Financial from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $485.00 to $476.00 in a report on Thursday, September 26th. Morgan Stanley increased their price target on Ameriprise Financial from $440.00 to $502.00 and gave the company an “equal weight” rating in a report on Thursday, October 17th. Finally, Royal Bank of Canada boosted their price objective on Ameriprise Financial from $535.00 to $550.00 and gave the stock an “outperform” rating in a research note on Friday, October 25th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, Ameriprise Financial has a consensus rating of “Hold” and a consensus target price of $487.67.

Insider Activity at Ameriprise Financial

In related news, insider Gumer Alvero sold 2,325 shares of the business’s stock in a transaction 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 completion of the transaction, the insider now directly owns 4,669 shares of the company’s stock, valued at $2,409,437.45. The trade was a 33.24 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, 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 value of $4,882,804.80. Following the completion of the sale, 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 disclosure for this sale can be found here. Insiders sold 21,715 shares of company stock worth $11,983,436 in the last three months. 0.73% of the stock is owned by company insiders.

Ameriprise Financial Stock Up 0.4 %

Shares of NYSE AMP opened at $573.97 on Monday. Ameriprise Financial, Inc. has a 52-week low of $347.74 and a 52-week high of $577.00. The business’s 50 day moving average is $521.35 and its two-hundred day moving average is $463.17. The firm has a market cap of $55.68 billion, a price-to-earnings ratio of 22.03, a PEG ratio of 1.00 and a beta of 1.34. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.99.

Ameriprise Financial Announces Dividend

The company also recently announced 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 yield of 1.03%. The ex-dividend date was Monday, November 4th. Ameriprise Financial’s payout ratio is 22.73%.

About Ameriprise Financial

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.