Caisse de depot et placement du Quebec Makes New $106.11 Million Investment in Ameriprise Financial, Inc. $AMP

Caisse de depot et placement du Quebec bought a new stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 231,289 shares of the financial services provider’s stock, valued at approximately $106,106,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of AMP. Pointe Capital Management LLC purchased a new position in shares of Ameriprise Financial in the 2nd quarter worth $620,000. Man Group plc purchased a new stake in Ameriprise Financial during the second quarter valued at $228,311,000. Miller Value Partners LLC bought a new position in Ameriprise Financial in the second quarter valued at about $2,031,000. Jupiter Topco LLC bought a new position in Ameriprise Financial in the second quarter valued at about $5,435,000. Finally, Hsbc Holdings PLC purchased a new position in Ameriprise Financial in the second quarter worth about $248,547,000. 83.95% of the stock is owned by institutional investors.

Ameriprise Financial Price Performance

NYSE:AMP opened at $561.04 on Thursday. 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’s 50-day simple moving average is $523.27 and its two-hundred day simple moving average is $482.17. The stock has a market cap of $50.44 billion, a PE ratio of 13.53, a P/E/G ratio of 0.75 and a beta of 1.14. Ameriprise Financial, Inc. has a 52 week low of $422.37 and a 52 week high of $572.56.

Ameriprise Financial (NYSE:AMP) last announced its quarterly earnings data on Thursday, July 23rd. The financial services provider reported $11.07 EPS for the quarter, beating the consensus estimate of $10.81 by $0.26. The business had revenue of $4.90 billion for the quarter, compared to the consensus estimate of $4.87 billion. Ameriprise Financial had a return on equity of 64.19% and a net margin of 20.24%.The business’s revenue was up 11.6% on a year-over-year basis. During the same period in the previous year, the business earned $9.11 earnings per share. As a group, analysts forecast that Ameriprise Financial, Inc. will post 46.27 EPS for the current fiscal year.

Ameriprise Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 21st. Investors 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 dividend on an annualized basis and a yield of 1.2%. Ameriprise Financial’s payout ratio is currently 16.40%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on AMP shares. Jefferies Financial Group boosted their price target on Ameriprise Financial from $636.00 to $645.00 and gave the company a “buy” rating in a research note on Friday, July 10th. Weiss Ratings raised shares of Ameriprise Financial from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, July 17th. Piper Sandler boosted their target price on shares of Ameriprise Financial from $471.00 to $518.00 and gave the company a “neutral” rating in a research report on Monday, July 13th. Keefe, Bruyette & Woods upped their target price on shares of Ameriprise Financial from $515.00 to $545.00 and gave the company a “market perform” rating in a report on Friday, July 24th. Finally, Zacks Research upgraded shares of Ameriprise Financial from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 27th. Two research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $555.33.

Insiders Place Their Bets

In other Ameriprise Financial news, EVP Deirdre Davey Mcgraw sold 2,400 shares of the company’s stock in a transaction that occurred on Thursday, August 6th. The stock was sold at an average price of $558.28, for a total value of $1,339,872.00. Following the completion of the transaction, the executive vice president directly owned 3,373 shares in the company, valued at $1,883,078.44. This represents a 41.57% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider William Jerryl Williams sold 8,210 shares of the stock in a transaction that occurred 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 approximately $3,656,793. This trade represents a 54.77% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 29,988 shares of company stock valued at $16,316,497 in the last 90 days. 0.60% of the stock is currently owned by company insiders.

About Ameriprise Financial

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.