Beutel Goodman & Co Ltd. Acquires 86,983 Shares of Ameriprise Financial, Inc. $AMP

Beutel Goodman & Co Ltd. grew its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 18.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 570,080 shares of the financial services provider’s stock after acquiring an additional 86,983 shares during the quarter. Beutel Goodman & Co Ltd. owned 0.60% of Ameriprise Financial worth $304,268,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Brighton Jones LLC lifted its stake in Ameriprise Financial by 6.9% in the 4th quarter. Brighton Jones LLC now owns 777 shares of the financial services provider’s stock valued at $413,000 after purchasing an additional 50 shares during the last quarter. Commonwealth Equity Services LLC increased its holdings in shares of Ameriprise Financial by 7.9% during the first quarter. Commonwealth Equity Services LLC now owns 49,501 shares of the financial services provider’s stock worth $23,964,000 after buying an additional 3,622 shares in the last quarter. iA Global Asset Management Inc. lifted its stake in shares of Ameriprise Financial by 39.9% in the 1st quarter. iA Global Asset Management Inc. now owns 2,593 shares of the financial services provider’s stock valued at $1,255,000 after acquiring an additional 740 shares during the last quarter. Wealthspire Advisors LLC boosted its holdings in shares of Ameriprise Financial by 3.6% during the 1st quarter. Wealthspire Advisors LLC now owns 2,153 shares of the financial services provider’s stock valued at $1,042,000 after acquiring an additional 75 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its position in Ameriprise Financial by 28.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,195,703 shares of the financial services provider’s stock worth $578,852,000 after buying an additional 266,631 shares during the period. Institutional investors own 83.95% of the company’s stock.

Insider Buying and Selling at Ameriprise Financial

In other Ameriprise Financial news, Director Robert Francis Sharpe, Jr. sold 1,500 shares of the firm’s stock in a transaction dated Friday, November 21st. The stock was sold at an average price of $450.94, for a total value of $676,410.00. Following the completion of the transaction, the director owned 7,500 shares in the company, valued at $3,382,050. This trade represents a 16.67% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.73% of the company’s stock.

Ameriprise Financial Stock Performance

Shares of AMP stock opened at $474.11 on Friday. Ameriprise Financial, Inc. has a one year low of $396.14 and a one year high of $582.05. The firm has a 50-day moving average of $469.34 and a 200-day moving average of $498.38. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.68 and a quick ratio of 0.68. The company has a market cap of $44.05 billion, a P/E ratio of 13.00, a P/E/G ratio of 1.18 and a beta of 1.26.

Ameriprise Financial (NYSE:AMP) last issued its quarterly earnings results on Thursday, October 30th. The financial services provider reported $9.92 EPS for the quarter, topping analysts’ consensus estimates of $9.76 by $0.16. Ameriprise Financial had a return on equity of 64.97% and a net margin of 20.12%.The business had revenue of $4.73 billion for the quarter, compared to analyst estimates of $4.51 billion. During the same period last year, the company posted $9.02 earnings per share. Ameriprise Financial’s quarterly revenue was up 9.0% compared to the same quarter last year. Equities research analysts forecast that Ameriprise Financial, Inc. will post 38.64 EPS for the current fiscal year.

Ameriprise Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 24th. Investors of record on Monday, November 10th were issued a $1.60 dividend. The ex-dividend date of this dividend was Monday, November 10th. This represents a $6.40 annualized dividend and a yield of 1.3%. Ameriprise Financial’s dividend payout ratio (DPR) is 17.55%.

Analysts Set New Price Targets

AMP has been the subject of a number of analyst reports. Weiss Ratings restated a “buy (b-)” rating on shares of Ameriprise Financial in a research report on Friday, November 28th. BMO Capital Markets began coverage on shares of Ameriprise Financial in a research report on Friday, October 3rd. They issued a “market perform” rating and a $525.00 price target on the stock. Argus cut their target price on Ameriprise Financial from $568.00 to $554.00 and set a “buy” rating on the stock in a research report on Thursday, November 13th. Evercore ISI dropped their price objective on shares of Ameriprise Financial from $587.00 to $570.00 and set an “in-line” rating on the stock in a report on Thursday, October 9th. Finally, Morgan Stanley cut their price objective on shares of Ameriprise Financial from $530.00 to $484.00 and set an “underweight” rating on the stock in a research report on Wednesday, October 1st. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, five have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $533.22.

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.