Canada Pension Plan Investment Board Sells 3,965 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

Canada Pension Plan Investment Board cut its holdings in Ameriprise Financial, Inc. (NYSE:AMP) by 1.9% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 202,402 shares of the financial services provider’s stock after selling 3,965 shares during the quarter. Canada Pension Plan Investment Board owned about 0.21% of Ameriprise Financial worth $107,765,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Norges Bank bought a new position in Ameriprise Financial during the 4th quarter worth about $689,272,000. JPMorgan Chase & Co. lifted its holdings in shares of Ameriprise Financial by 12.1% in the fourth quarter. JPMorgan Chase & Co. now owns 4,801,913 shares of the financial services provider’s stock valued at $2,556,683,000 after purchasing an additional 516,437 shares in the last quarter. Proficio Capital Partners LLC boosted its position in shares of Ameriprise Financial by 79,679.4% during the fourth quarter. Proficio Capital Partners LLC now owns 371,772 shares of the financial services provider’s stock worth $197,943,000 after buying an additional 371,306 shares during the period. Robeco Institutional Asset Management B.V. grew its holdings in shares of Ameriprise Financial by 429.0% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 417,149 shares of the financial services provider’s stock worth $222,103,000 after buying an additional 338,298 shares in the last quarter. Finally, Amundi raised its position in Ameriprise Financial by 48.0% in the 4th quarter. Amundi now owns 642,226 shares of the financial services provider’s stock valued at $343,546,000 after buying an additional 208,195 shares during the last quarter. 83.95% of the stock is owned by institutional investors.

Insider Transactions at Ameriprise Financial

In related news, CEO William F. Truscott sold 6,000 shares of the business’s stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $540.29, for a total value of $3,241,740.00. Following the completion of the sale, the chief executive officer now directly owns 14,023 shares in the company, valued at $7,576,486.67. The trade was a 29.97 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Joseph Edward Sweeney sold 4,636 shares of Ameriprise Financial stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $539.07, for a total value of $2,499,128.52. Following the sale, the insider now directly owns 7,237 shares of the company’s stock, valued at $3,901,249.59. This represents a 39.05 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 11,636 shares of company stock worth $6,263,989. 0.73% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Piper Sandler raised their price target on shares of Ameriprise Financial from $415.00 to $442.00 and gave the stock an “underweight” rating in a research note on Friday, January 31st. Raymond James raised shares of Ameriprise Financial from a “market perform” rating to a “strong-buy” rating and set a $518.00 target price for the company in a research report on Monday, April 7th. UBS Group lowered shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and lowered their price target for the company from $580.00 to $570.00 in a research note on Monday, January 6th. Keefe, Bruyette & Woods reduced their price objective on shares of Ameriprise Financial from $570.00 to $520.00 and set a “market perform” rating for the company in a research note on Wednesday, April 9th. Finally, Morgan Stanley lifted their target price on Ameriprise Financial from $507.00 to $542.00 and gave the company an “equal weight” rating in a research report on Tuesday, March 4th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $517.44.

Ameriprise Financial Price Performance

Shares of NYSE AMP opened at $464.57 on Friday. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 1.01. The business’s 50 day moving average price is $495.68 and its two-hundred day moving average price is $522.71. The company has a market cap of $44.65 billion, a PE ratio of 14.05, a price-to-earnings-growth ratio of 1.15 and a beta of 1.23. Ameriprise Financial, Inc. has a twelve month low of $385.74 and a twelve month high of $582.05.

Ameriprise Financial (NYSE:AMP) last posted its 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%. On average, analysts predict that Ameriprise Financial, Inc. will post 38.64 EPS for the current year.

Ameriprise Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Monday, February 10th were given a $1.48 dividend. This represents a $5.92 annualized dividend and a dividend yield of 1.27%. The ex-dividend date was Monday, February 10th. Ameriprise Financial’s payout ratio is presently 17.91%.

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.