BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Buys 7,107 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its position in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 58.8% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 19,190 shares of the financial services provider’s stock after acquiring an additional 7,107 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Ameriprise Financial were worth $8,198,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Portside Wealth Group LLC lifted its holdings in Ameriprise Financial by 3.7% in the second quarter. Portside Wealth Group LLC now owns 697 shares of the financial services provider’s stock valued at $298,000 after acquiring an additional 25 shares during the period. Signaturefd LLC boosted its holdings in shares of Ameriprise Financial by 1.1% in the first quarter. Signaturefd LLC now owns 2,296 shares of the financial services provider’s stock worth $1,007,000 after buying an additional 26 shares during the last quarter. Coldstream Capital Management Inc. grew its position in Ameriprise Financial by 0.7% during the second quarter. Coldstream Capital Management Inc. now owns 3,760 shares of the financial services provider’s stock valued at $1,606,000 after buying an additional 26 shares during the period. Aua Capital Management LLC increased its holdings in Ameriprise Financial by 4.7% during the first quarter. Aua Capital Management LLC now owns 604 shares of the financial services provider’s stock valued at $265,000 after buying an additional 27 shares during the last quarter. Finally, Gratus Wealth Advisors LLC raised its position in Ameriprise Financial by 1.5% in the first quarter. Gratus Wealth Advisors LLC now owns 1,887 shares of the financial services provider’s stock worth $779,000 after acquiring an additional 27 shares during the period. 83.95% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, VP William Davies sold 8,700 shares of the stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $442.07, for a total value of $3,846,009.00. Following the completion of the transaction, the vice president now owns 13,199 shares of the company’s stock, valued at approximately $5,834,881.93. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.73% of the company’s stock.

Ameriprise Financial Trading Down 0.1 %

Ameriprise Financial stock opened at $463.10 on Thursday. Ameriprise Financial, Inc. has a 1 year low of $306.63 and a 1 year high of $467.00. The firm’s 50 day moving average price is $431.16 and its 200-day moving average price is $429.39. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.59 and a quick ratio of 0.59. The stock has a market cap of $45.47 billion, a P/E ratio of 15.76, a PEG ratio of 0.80 and a beta of 1.35.

Ameriprise Financial (NYSE:AMP) last announced its quarterly earnings results on Wednesday, July 24th. The financial services provider reported $8.72 EPS for the quarter, topping the consensus estimate of $8.53 by $0.19. The business had revenue of $4.39 billion for the quarter, compared to analysts’ expectations of $4.24 billion. Ameriprise Financial had a net margin of 18.64% and a return on equity of 73.83%. The business’s quarterly revenue was up 9.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $7.44 EPS. On average, equities analysts predict that Ameriprise Financial, Inc. will post 34.81 earnings per share for the current fiscal year.

Ameriprise Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 16th. Shareholders of record on Monday, August 5th were given a dividend of $1.48 per share. The ex-dividend date of this dividend was Monday, August 5th. This represents a $5.92 annualized dividend and a yield of 1.28%. Ameriprise Financial’s dividend payout ratio (DPR) is currently 20.15%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on AMP. Piper Sandler cut their price objective on shares of Ameriprise Financial from $390.00 to $387.00 and set an “underweight” rating for the company in a research report on Friday, June 28th. Morgan Stanley reduced their price target on Ameriprise Financial from $444.00 to $440.00 and set an “equal weight” rating for the company in a research report on Monday, July 29th. Jefferies Financial Group lifted their price objective on Ameriprise Financial from $500.00 to $504.00 and gave the company a “buy” rating in a research report on Friday, June 28th. Royal Bank of Canada increased their target price on shares of Ameriprise Financial from $487.00 to $500.00 and gave the stock an “outperform” rating in a report on Tuesday, July 30th. Finally, UBS Group lowered their price target on shares of Ameriprise Financial from $500.00 to $495.00 and set a “buy” rating on the stock in a report on Tuesday, July 9th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $464.33.

Ameriprise Financial Company 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.