CIBC Asset Management Inc Has $6.87 Million Stock Position in Ameriprise Financial, Inc. (NYSE:AMP)

CIBC Asset Management Inc increased its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 7.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 14,624 shares of the financial services provider’s stock after buying an additional 958 shares during the quarter. CIBC Asset Management Inc’s holdings in Ameriprise Financial were worth $6,871,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in AMP. DiNuzzo Private Wealth Inc. raised its stake in Ameriprise Financial by 268.8% during the 2nd quarter. DiNuzzo Private Wealth Inc. now owns 59 shares of the financial services provider’s stock worth $25,000 after buying an additional 43 shares during the period. Accordant Advisory Group Inc acquired a new stake in Ameriprise Financial during the 2nd quarter worth $26,000. Mascoma Wealth Management LLC increased its holdings in Ameriprise Financial by 153.8% during the 2nd quarter. Mascoma Wealth Management LLC now owns 66 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 40 shares in the last quarter. Bank & Trust Co bought a new position in Ameriprise Financial during the 2nd quarter worth about $29,000. Finally, Hantz Financial Services Inc. bought a new position in Ameriprise Financial during the 2nd quarter worth about $29,000. Institutional investors and hedge funds own 83.95% of the company’s stock.

Insiders Place Their Bets

In other 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 completion of the sale, the vice president now owns 13,199 shares in the company, valued at $5,834,881.93. The trade was a 39.73 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Joseph Edward Sweeney sold 10,735 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $549.68, for a total value of $5,900,814.80. Following the sale, the insider now owns 5,811 shares of the company’s stock, valued at approximately $3,194,190.48. This represents a 64.88 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 30,415 shares of company stock valued at $15,829,445 over the last 90 days. 0.73% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

AMP has been the subject of a number of research reports. Morgan Stanley increased their target price on Ameriprise Financial from $440.00 to $502.00 and gave the stock an “equal weight” rating in a report on Thursday, October 17th. UBS Group increased their target price on Ameriprise Financial from $490.00 to $555.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. Royal Bank of Canada increased their target price on Ameriprise Financial from $535.00 to $550.00 and gave the stock an “outperform” rating in a report on Friday, October 25th. The Goldman Sachs Group cut Ameriprise Financial from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $485.00 to $476.00 in a report on Thursday, September 26th. Finally, Keefe, Bruyette & Woods raised their price objective on Ameriprise Financial from $475.00 to $510.00 and gave the company a “market perform” rating in a report on Tuesday, October 29th. One research analyst has rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $487.67.

Ameriprise Financial Price Performance

Shares of NYSE AMP opened at $562.44 on Monday. The business’s 50 day moving average price is $496.55 and its two-hundred day moving average price is $453.22. The company has a market cap of $54.56 billion, a PE ratio of 21.59, a price-to-earnings-growth ratio of 0.98 and a beta of 1.34. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.99. Ameriprise Financial, Inc. has a twelve month low of $342.96 and a twelve month high of $569.47.

Ameriprise Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Monday, November 4th were given a dividend of $1.48 per share. This represents a $5.92 dividend on an annualized basis and a yield of 1.05%. The ex-dividend date of this dividend was Monday, November 4th. Ameriprise Financial’s dividend payout ratio (DPR) is presently 22.73%.

Ameriprise Financial Company 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.