CANADA LIFE ASSURANCE Co Sells 13,879 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

CANADA LIFE ASSURANCE Co decreased its stake in Ameriprise Financial, Inc. (NYSE:AMP) by 12.6% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 96,669 shares of the financial services provider’s stock after selling 13,879 shares during the quarter. CANADA LIFE ASSURANCE Co owned approximately 0.10% of Ameriprise Financial worth $42,416,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of AMP. Signaturefd LLC increased its holdings in Ameriprise Financial by 1.1% during the 1st quarter. Signaturefd LLC now owns 2,296 shares of the financial services provider’s stock valued at $1,007,000 after purchasing an additional 26 shares in the last quarter. Aua Capital Management LLC increased its stake in shares of Ameriprise Financial by 4.7% in the first quarter. Aua Capital Management LLC now owns 604 shares of the financial services provider’s stock valued at $265,000 after buying an additional 27 shares in the last quarter. Gratus Wealth Advisors LLC raised its holdings in shares of Ameriprise Financial by 1.5% in the first quarter. Gratus Wealth Advisors LLC now owns 1,887 shares of the financial services provider’s stock valued at $779,000 after buying an additional 27 shares during the last quarter. Resonant Capital Advisors LLC raised its holdings in shares of Ameriprise Financial by 4.7% in the first quarter. Resonant Capital Advisors LLC now owns 619 shares of the financial services provider’s stock valued at $271,000 after buying an additional 28 shares during the last quarter. Finally, PDS Planning Inc lifted its position in Ameriprise Financial by 3.7% during the 1st quarter. PDS Planning Inc now owns 775 shares of the financial services provider’s stock worth $340,000 after buying an additional 28 shares in the last quarter. 83.95% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

AMP has been the subject of a number of research analyst reports. UBS Group dropped their target price on shares of Ameriprise Financial from $500.00 to $495.00 and set a “buy” rating for the company in a research note on Tuesday, July 9th. Morgan Stanley upped their price objective on Ameriprise Financial from $400.00 to $437.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 9th. Evercore ISI increased their price objective on Ameriprise Financial from $400.00 to $445.00 and gave the company an “in-line” rating in a research report on Thursday, April 11th. Keefe, Bruyette & Woods boosted their target price on Ameriprise Financial from $460.00 to $470.00 and gave the stock a “market perform” rating in a research report on Monday, July 8th. Finally, Jefferies Financial Group raised their price target on Ameriprise Financial from $500.00 to $504.00 and gave the company a “buy” rating in a report on Friday, June 28th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $462.89.

Ameriprise Financial Trading Up 4.1 %

NYSE:AMP traded up $17.27 during mid-day trading on Thursday, hitting $441.52. The company had a trading volume of 420,339 shares, compared to its average volume of 486,777. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.56 and a current ratio of 0.56. Ameriprise Financial, Inc. has a fifty-two week low of $306.63 and a fifty-two week high of $449.94. The firm has a market cap of $43.85 billion, a P/E ratio of 14.89, a P/E/G ratio of 0.66 and a beta of 1.37. The business’s fifty day moving average is $431.72 and its two-hundred day moving average is $417.11.

Ameriprise Financial (NYSE:AMP) last announced its quarterly earnings results on Wednesday, July 24th. The financial services provider reported $8.72 earnings per share for the quarter, beating analysts’ consensus estimates of $8.53 by $0.19. The business had revenue of $4.39 billion for the quarter, compared to the consensus estimate of $4.24 billion. Ameriprise Financial had a net margin of 19.42% and a return on equity of 75.97%. Ameriprise Financial’s revenue for the quarter was up 9.6% on a year-over-year basis. During the same period last year, the company posted $7.44 EPS. As a group, research analysts expect that Ameriprise Financial, Inc. will post 34.91 earnings per share for the current year.

Ameriprise Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 16th. Stockholders of record on Monday, August 5th will be given a dividend of $1.48 per share. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.34%. Ameriprise Financial’s dividend payout ratio is 20.15%.

Insider Activity

In other Ameriprise Financial news, Director Robert Francis Sharpe, Jr. sold 1,500 shares of the firm’s stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $438.07, for a total transaction of $657,105.00. Following the sale, the director now directly owns 11,000 shares in the company, valued at approximately $4,818,770. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.73% of the stock is owned by company insiders.

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.