Canada Pension Plan Investment Board Grows Position in Ameriprise Financial, Inc. $AMP

Key Points

• The Canada Pension Plan Investment Board increased its stake in Ameriprise Financial by 3.2% in the first quarter, owning 208,780 shares valued at approximately $101 million.
• Ameriprise Financial recently declared a quarterly dividend of $1.60, reflecting an annualized dividend yield of 1.2%.
• Analysts have mixed ratings for Ameriprise Financial, with a consensus rating of "Hold" and an average price target of $534.71.

Canada Pension Plan Investment Board boosted its position in Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 3.2% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 208,780 shares of the financial services provider's stock after acquiring an additional 6,378 shares during the period. Canada Pension Plan Investment Board owned 0.22% of Ameriprise Financial worth $101,072,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. University of Texas Texas AM Investment Management Co. bought a new stake in shares of Ameriprise Financial during the fourth quarter valued at about $26,000. Sunbeam Capital Management LLC bought a new stake in shares of Ameriprise Financial during the fourth quarter valued at about $31,000. TD Capital Management LLC increased its position in shares of Ameriprise Financial by 566.7% during the first quarter. TD Capital Management LLC now owns 60 shares of the financial services provider's stock valued at $29,000 after buying an additional 51 shares during the period. Wealth Preservation Advisors LLC bought a new stake in shares of Ameriprise Financial during the first quarter valued at about $29,000. Finally, WPG Advisers LLC purchased a new position in shares of Ameriprise Financial during the first quarter worth about $33,000. 83.95% of the stock is currently owned by institutional investors.

Insider Activity at Ameriprise Financial

In other news, CEO William F. Truscott sold 9,929 shares of the stock in a transaction on Tuesday, August 19th. The stock was sold at an average price of $506.89, for a total value of $5,032,910.81. Following the sale, the chief executive officer directly owned 11,047 shares of the company's stock, valued at approximately $5,599,613.83. This represents a 47.34% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.73% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently commented on AMP. Piper Sandler boosted their price objective on Ameriprise Financial from $423.00 to $434.00 and gave the stock an "underweight" rating in a report on Thursday, July 3rd. Wall Street Zen raised Ameriprise Financial from a "sell" rating to a "hold" rating in a report on Friday, May 30th. Royal Bank Of Canada upped their target price on Ameriprise Financial from $595.00 to $601.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 30th. Raymond James Financial upped their target price on Ameriprise Financial from $518.00 to $582.00 and gave the stock a "strong-buy" rating in a research note on Friday, July 25th. Finally, Keefe, Bruyette & Woods upped their target price on Ameriprise Financial from $520.00 to $550.00 and gave the stock a "market perform" rating in a research note on Wednesday, July 9th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $534.71.

Ameriprise Financial Trading Up 0.7%

Shares of NYSE:AMP traded up $3.62 during trading on Thursday, reaching $510.82. 74,281 shares of the company traded hands, compared to its average volume of 496,850. The firm has a market capitalization of $48.16 billion, a price-to-earnings ratio of 15.91, a P/E/G ratio of 1.10 and a beta of 1.27. Ameriprise Financial, Inc. has a 52-week low of $396.14 and a 52-week high of $582.05. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 0.95. The business's fifty day moving average is $521.26 and its 200-day moving average is $505.03.

Ameriprise Financial (NYSE:AMP - Get Free Report) last announced its earnings results on Thursday, July 24th. The financial services provider reported $9.11 EPS for the quarter, beating analysts' consensus estimates of $9.00 by $0.11. The company had revenue of $4.49 billion during the quarter, compared to the consensus estimate of $4.33 billion. Ameriprise Financial had a return on equity of 65.90% and a net margin of 18.30%.The firm's revenue for the quarter was up 2.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $8.72 earnings per share. As a group, analysts forecast that Ameriprise Financial, Inc. will post 38.64 EPS for the current year.

Ameriprise Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, August 18th. Stockholders of record on Monday, August 4th were paid a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date of this dividend was Monday, August 4th. Ameriprise Financial's dividend payout ratio is currently 19.91%.

About Ameriprise Financial

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.