Canada Pension Plan Investment Board Has $97.50 Million Stock Holdings in Ameriprise Financial, Inc. (NYSE:AMP)

Canada Pension Plan Investment Board grew its stake in Ameriprise Financial, Inc. (NYSE:AMP) by 18.6% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 228,228 shares of the financial services provider’s stock after purchasing an additional 35,868 shares during the quarter. Canada Pension Plan Investment Board owned about 0.23% of Ameriprise Financial worth $97,497,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in AMP. TrinityPoint Wealth LLC boosted its holdings in Ameriprise Financial by 15.4% during the fourth quarter. TrinityPoint Wealth LLC now owns 1,697 shares of the financial services provider’s stock worth $645,000 after buying an additional 227 shares during the last quarter. D.A. Davidson & CO. boosted its stake in Ameriprise Financial by 2.6% during the 4th quarter. D.A. Davidson & CO. now owns 4,270 shares of the financial services provider’s stock worth $1,622,000 after acquiring an additional 110 shares during the last quarter. US Bancorp DE grew its holdings in Ameriprise Financial by 3.1% during the fourth quarter. US Bancorp DE now owns 98,904 shares of the financial services provider’s stock valued at $37,567,000 after purchasing an additional 2,953 shares during the period. Team Hewins LLC bought a new stake in Ameriprise Financial in the fourth quarter valued at approximately $524,000. Finally, Eagle Global Advisors LLC raised its holdings in Ameriprise Financial by 8.1% in the fourth quarter. Eagle Global Advisors LLC now owns 1,600 shares of the financial services provider’s stock worth $608,000 after purchasing an additional 120 shares during the period. 83.95% of the stock is currently owned by institutional investors.

Ameriprise Financial Stock Performance

Shares of AMP stock opened at $460.61 on Friday. Ameriprise Financial, Inc. has a 12 month low of $306.63 and a 12 month high of $465.82. The company’s fifty day simple moving average is $430.15 and its 200-day simple moving average is $428.48. The firm has a market cap of $45.75 billion, a PE ratio of 15.68, a P/E/G ratio of 0.75 and a beta of 1.35. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 1.16.

Ameriprise Financial (NYSE:AMP) last issued its quarterly earnings results on Wednesday, July 24th. The financial services provider reported $8.72 EPS for the quarter, topping the consensus estimate of $8.53 by $0.19. Ameriprise Financial had a net margin of 18.64% and a return on equity of 73.83%. The firm had revenue of $4.39 billion for the quarter, compared to analysts’ expectations of $4.24 billion. During the same period in the previous year, the firm posted $7.44 EPS. The company’s revenue for the quarter was up 9.6% on a year-over-year basis. Equities research analysts expect that Ameriprise Financial, Inc. will post 34.81 EPS for the current fiscal year.

Ameriprise Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 16th. Stockholders of record on Monday, August 5th were issued a $1.48 dividend. The ex-dividend date was Monday, August 5th. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.29%. Ameriprise Financial’s payout ratio is 20.15%.

Insider Activity at Ameriprise Financial

In other Ameriprise Financial news, VP William Davies sold 8,700 shares of the business’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $442.07, for a total transaction of $3,846,009.00. Following the transaction, the vice president now owns 13,199 shares of the company’s stock, valued at $5,834,881.93. The sale was disclosed in a document filed with the SEC, which is available through this link. 0.73% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

AMP has been the subject of a number of recent analyst reports. Piper Sandler lowered their price objective on shares of Ameriprise Financial from $390.00 to $387.00 and set an “underweight” rating for the company in a research report on Friday, June 28th. Jefferies Financial Group raised their price target on Ameriprise Financial from $500.00 to $504.00 and gave the stock a “buy” rating in a research report on Friday, June 28th. Morgan Stanley decreased their price objective on Ameriprise Financial from $444.00 to $440.00 and set an “equal weight” rating for the company in a research report on Monday, July 29th. Royal Bank of Canada lifted their price target on shares of Ameriprise Financial from $487.00 to $500.00 and gave the company an “outperform” rating in a research note on Tuesday, July 30th. Finally, Keefe, Bruyette & Woods lowered their price objective on shares of Ameriprise Financial from $470.00 to $460.00 and set a “market perform” rating for the company in a research report on Tuesday, July 30th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the company. According to data from MarketBeat, Ameriprise Financial presently has an average rating of “Hold” and an average target price of $464.33.

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.