Connor Clark & Lunn Investment Management Ltd. Acquires New Holdings in Ameriprise Financial, Inc. $AMP

Connor Clark & Lunn Investment Management Ltd. purchased a new position in Ameriprise Financial, Inc. (NYSE:AMP - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 443,609 shares of the financial services provider's stock, valued at approximately $203,510,000. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.49% of Ameriprise Financial at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of AMP. State Street Corp grew its stake in Ameriprise Financial by 0.4% during the 3rd quarter. State Street Corp now owns 4,420,072 shares of the financial services provider's stock worth $2,171,360,000 after buying an additional 18,879 shares during the last quarter. Norges Bank purchased a new stake in shares of Ameriprise Financial in the 4th quarter valued at $742,438,000. Boston Partners raised its stake in shares of Ameriprise Financial by 1.1% during the 3rd quarter. Boston Partners now owns 1,193,048 shares of the financial services provider's stock valued at $586,083,000 after buying an additional 13,172 shares during the last quarter. AQR Capital Management LLC raised its position in Ameriprise Financial by 84.2% during the fourth quarter. AQR Capital Management LLC now owns 1,085,889 shares of the financial services provider's stock valued at $532,455,000 after acquiring an additional 496,319 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in shares of Ameriprise Financial by 2.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,024,758 shares of the financial services provider's stock valued at $455,387,000 after purchasing an additional 19,731 shares during the period. Hedge funds and other institutional investors own 83.95% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Piper Sandler boosted their price objective on Ameriprise Financial from $471.00 to $518.00 and gave the company a "neutral" rating in a research report on Monday, July 13th. Jefferies Financial Group boosted their price objective on Ameriprise Financial from $636.00 to $645.00 and gave the stock a "buy" rating in a research note on Friday, July 10th. Weiss Ratings upgraded Ameriprise Financial from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Friday, July 17th. Zacks Research raised Ameriprise Financial from a "hold" rating to a "strong-buy" rating in a research report on Monday, July 27th. Finally, Morgan Stanley raised their price objective on shares of Ameriprise Financial from $467.00 to $489.00 and gave the company an "underweight" rating in a research note on Friday, July 10th. Two research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $555.33.

Insider Buying and Selling

In other news, CFO Walter Stanley Berman sold 11,012 shares of the firm's stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $548.95, for a total transaction of $6,045,037.40. Following the sale, the chief financial officer owned 5,609 shares in the company, valued at $3,079,060.55. This trade represents a 66.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider William Jerryl Williams sold 8,210 shares of the business's stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $539.35, for a total transaction of $4,428,063.50. Following the sale, the insider directly owned 6,780 shares of the company's stock, valued at $3,656,793. This represents a 54.77% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 29,988 shares of company stock valued at $16,316,497. 0.60% of the stock is currently owned by company insiders.

Ameriprise Financial Stock Up 0.2%

AMP opened at $556.56 on Monday. Ameriprise Financial, Inc. has a 52 week low of $422.37 and a 52 week high of $572.56. The company has a market cap of $50.03 billion, a PE ratio of 13.42, a P/E/G ratio of 0.74 and a beta of 1.14. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.99. The business has a 50 day moving average price of $517.67 and a two-hundred day moving average price of $481.65.

Ameriprise Financial (NYSE:AMP - Get Free Report) last issued its quarterly earnings results on Thursday, July 23rd. The financial services provider reported $11.07 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $10.81 by $0.26. Ameriprise Financial had a net margin of 20.24% and a return on equity of 64.19%. The business had revenue of $4.90 billion for the quarter, compared to analyst estimates of $4.87 billion. During the same period in the previous year, the business posted $9.11 earnings per share. The business's revenue was up 11.6% compared to the same quarter last year. As a group, research analysts anticipate that Ameriprise Financial, Inc. will post 46.27 EPS for the current year.

Ameriprise Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 21st. Shareholders of record on Monday, August 3rd were issued a $1.70 dividend. The ex-dividend date of this dividend was Monday, August 3rd. This represents a $6.80 annualized dividend and a yield of 1.2%. Ameriprise Financial's dividend payout ratio is 16.40%.

Ameriprise Financial Profile

Ameriprise Financial, Inc is a diversified financial services company headquartered in Minneapolis, Minnesota. The firm provides a range of advice-based wealth management, asset management and insurance products to individual and institutional clients. Its business model centers on delivering financial planning and investment advice through a network of financial advisors alongside proprietary product offerings designed to meet retirement, protection and accumulation needs.

Core products and services include comprehensive financial planning and advisory services, managed investment portfolios, retirement planning solutions, annuities and life insurance products.

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