Investment Management Corp of Ontario Acquires 1,100 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

Investment Management Corp of Ontario grew its holdings in Ameriprise Financial, Inc. (NYSE:AMP) by 7.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 16,623 shares of the financial services provider’s stock after purchasing an additional 1,100 shares during the period. Investment Management Corp of Ontario’s holdings in Ameriprise Financial were worth $7,810,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Dimensional Fund Advisors LP lifted its stake in Ameriprise Financial by 10.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,129,632 shares of the financial services provider’s stock valued at $482,588,000 after buying an additional 110,319 shares in the last quarter. Legal & General Group Plc boosted its holdings in Ameriprise Financial by 1.4% during the second quarter. Legal & General Group Plc now owns 823,249 shares of the financial services provider’s stock worth $351,685,000 after buying an additional 11,060 shares in the last quarter. AGF Management Ltd. grew its holdings in shares of Ameriprise Financial by 35.4% during the second quarter. AGF Management Ltd. now owns 504,657 shares of the financial services provider’s stock valued at $215,584,000 after buying an additional 131,844 shares in the last quarter. Epoch Investment Partners Inc. grew its position in Ameriprise Financial by 3.9% in the second quarter. Epoch Investment Partners Inc. now owns 458,565 shares of the financial services provider’s stock worth $195,894,000 after acquiring an additional 17,312 shares in the last quarter. Finally, Federated Hermes Inc. increased its position in Ameriprise Financial by 25.3% in the 2nd quarter. Federated Hermes Inc. now owns 427,986 shares of the financial services provider’s stock worth $182,831,000 after buying an additional 86,315 shares during the period. Hedge funds and other institutional investors own 83.95% of the company’s stock.

Analyst Ratings Changes

AMP has been the subject of several recent analyst reports. Royal Bank of Canada increased their price target on Ameriprise Financial from $535.00 to $550.00 and gave the stock an “outperform” rating in a report on Friday, October 25th. Morgan Stanley lifted their price target on shares of Ameriprise Financial from $440.00 to $502.00 and gave the company an “equal weight” rating in a research note on Thursday, October 17th. Keefe, Bruyette & Woods boosted their target price on Ameriprise Financial from $475.00 to $510.00 and gave the company a “market perform” rating in a research note on Tuesday, October 29th. The Goldman Sachs Group lowered Ameriprise Financial from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $485.00 to $476.00 in a research report on Thursday, September 26th. Finally, UBS Group lifted their price target on Ameriprise Financial from $490.00 to $555.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $487.67.

Insider Transactions at Ameriprise Financial

In other Ameriprise Financial news, insider Gumer Alvero sold 2,325 shares of the company’s stock in a transaction on Thursday, October 31st. The stock was sold at an average price of $516.05, for a total value of $1,199,816.25. Following the completion of the sale, the insider now directly owns 4,669 shares in the company, valued at $2,409,437.45. This represents a 33.24 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Walter Stanley Berman sold 8,655 shares of the firm’s stock in a transaction on 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 completion of the sale, the chief financial officer now owns 6,409 shares in the company, valued at $3,615,701.44. The trade was a 57.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 21,715 shares of company stock worth $11,983,436. 0.96% of the stock is currently owned by company insiders.

Ameriprise Financial Stock Performance

NYSE AMP opened at $565.37 on Tuesday. The company has a market capitalization of $54.85 billion, a P/E ratio of 21.70, a P/E/G ratio of 1.00 and a beta of 1.34. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.65 and a current ratio of 0.65. The company has a fifty day moving average of $523.42 and a 200-day moving average of $464.08. Ameriprise Financial, Inc. has a 52-week low of $349.90 and a 52-week high of $577.00.

Ameriprise Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Monday, November 4th were paid a $1.48 dividend. The ex-dividend date was Monday, November 4th. This represents a $5.92 annualized dividend and a yield of 1.05%. Ameriprise Financial’s payout ratio is 22.73%.

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.