CI Investments Inc. Decreases Stock Holdings in Ameriprise Financial, Inc. (NYSE:AMP)

CI Investments Inc. decreased its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMPGet Rating) by 21.1% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,858 shares of the financial services provider’s stock after selling 498 shares during the quarter. CI Investments Inc.’s holdings in Ameriprise Financial were worth $558,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the business. State Street Corp raised its stake in Ameriprise Financial by 0.8% during the fourth quarter. State Street Corp now owns 5,468,982 shares of the financial services provider’s stock valued at $1,649,773,000 after purchasing an additional 45,978 shares in the last quarter. JPMorgan Chase & Co. raised its stake in Ameriprise Financial by 0.6% during the first quarter. JPMorgan Chase & Co. now owns 3,650,545 shares of the financial services provider’s stock valued at $1,096,477,000 after purchasing an additional 21,757 shares in the last quarter. Bank of New York Mellon Corp increased its position in Ameriprise Financial by 6.8% during the first quarter. Bank of New York Mellon Corp now owns 2,640,671 shares of the financial services provider’s stock valued at $793,152,000 after acquiring an additional 167,230 shares during the last quarter. Geode Capital Management LLC increased its position in Ameriprise Financial by 8.6% during the fourth quarter. Geode Capital Management LLC now owns 2,331,235 shares of the financial services provider’s stock valued at $701,689,000 after acquiring an additional 183,996 shares during the last quarter. Finally, Boston Partners increased its position in Ameriprise Financial by 2.6% during the first quarter. Boston Partners now owns 2,274,937 shares of the financial services provider’s stock valued at $683,238,000 after acquiring an additional 56,755 shares during the last quarter. Hedge funds and other institutional investors own 82.92% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Morgan Stanley boosted their price objective on shares of Ameriprise Financial from $270.00 to $295.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 17th. The Goldman Sachs Group cut shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and cut their price objective for the company from $325.00 to $270.00 in a research report on Friday, June 24th. Evercore ISI cut their price objective on shares of Ameriprise Financial from $364.00 to $320.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 6th. Finally, Piper Sandler cut their price target on shares of Ameriprise Financial from $231.00 to $220.00 and set an “underweight” rating on the stock in a report on Friday, July 15th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $314.56.

Insider Buying and Selling at Ameriprise Financial

In other Ameriprise Financial news, Director Robert Francis Sharpe, Jr. sold 1,000 shares of the stock in a transaction dated Friday, August 26th. The shares were sold at an average price of $277.01, for a total transaction of $277,010.00. Following the completion of the sale, the director now directly owns 16,500 shares of the company’s stock, valued at $4,570,665. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 1.00% of the company’s stock.

Ameriprise Financial Trading Down 0.3 %

NYSE AMP opened at $268.42 on Monday. Ameriprise Financial, Inc. has a 12 month low of $219.99 and a 12 month high of $332.37. The company’s 50-day moving average price is $257.45 and its 200-day moving average price is $271.78. The stock has a market cap of $29.03 billion, a PE ratio of 9.67 and a beta of 1.50. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 1.14.

Ameriprise Financial (NYSE:AMPGet Rating) last released its quarterly earnings data on Tuesday, July 26th. The financial services provider reported $5.81 earnings per share for the quarter, missing analysts’ consensus estimates of $5.82 by ($0.01). Ameriprise Financial had a return on equity of 53.86% and a net margin of 23.49%. During the same quarter in the previous year, the business earned $5.27 earnings per share. Equities research analysts forecast that Ameriprise Financial, Inc. will post 23.97 earnings per share for the current year.

Ameriprise Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 19th. Investors of record on Monday, August 8th were paid a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a yield of 1.86%. The ex-dividend date was Friday, August 5th. Ameriprise Financial’s dividend payout ratio (DPR) is presently 18.01%.

Ameriprise Financial Profile

(Get Rating)

Ameriprise Financial, Inc, through 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.

Further Reading

Institutional Ownership by Quarter for Ameriprise Financial (NYSE:AMP)

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