Beutel Goodman & Co Ltd. Decreases Position in Ameriprise Financial, Inc. (NYSE:AMP)

Beutel Goodman & Co Ltd. lessened its position in Ameriprise Financial, Inc. (NYSE:AMP) by 0.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 481,291 shares of the financial services provider’s stock after selling 1,084 shares during the period. Beutel Goodman & Co Ltd. owned about 0.50% of Ameriprise Financial worth $256,254,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in AMP. Howard Capital Management Group LLC increased its holdings in shares of Ameriprise Financial by 11.1% in the 3rd quarter. Howard Capital Management Group LLC now owns 1,787 shares of the financial services provider’s stock worth $840,000 after purchasing an additional 178 shares in the last quarter. D.A. Davidson & CO. increased its holdings in Ameriprise Financial by 1.1% in the 3rd quarter. D.A. Davidson & CO. now owns 4,491 shares of the financial services provider’s stock worth $2,110,000 after buying an additional 47 shares in the last quarter. Townsquare Capital LLC raised its position in Ameriprise Financial by 8.0% in the 3rd quarter. Townsquare Capital LLC now owns 7,047 shares of the financial services provider’s stock worth $3,311,000 after buying an additional 520 shares during the last quarter. Cynosure Group LLC bought a new position in Ameriprise Financial during the 3rd quarter valued at about $206,000. Finally, CreativeOne Wealth LLC boosted its holdings in shares of Ameriprise Financial by 71.5% during the 3rd quarter. CreativeOne Wealth LLC now owns 926 shares of the financial services provider’s stock valued at $435,000 after acquiring an additional 386 shares during the last quarter. Hedge funds and other institutional investors own 83.95% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Morgan Stanley boosted their price objective on shares of Ameriprise Financial from $507.00 to $542.00 and gave the company an “equal weight” rating in a report on Tuesday, March 4th. Piper Sandler boosted their target price on shares of Ameriprise Financial from $415.00 to $442.00 and gave the company an “underweight” rating in a research note on Friday, January 31st. UBS Group downgraded Ameriprise Financial from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $580.00 to $570.00 in a research note on Monday, January 6th. Keefe, Bruyette & Woods upped their price objective on Ameriprise Financial from $560.00 to $570.00 and gave the company a “market perform” rating in a research report on Monday, February 3rd. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $625.00 target price on shares of Ameriprise Financial in a research report on Monday, February 3rd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $514.89.

Insider Buying and Selling at Ameriprise Financial

In related news, CEO William F. Truscott sold 6,000 shares of the company’s stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $540.29, for a total transaction of $3,241,740.00. Following the completion of the transaction, the chief executive officer now owns 14,023 shares in the company, valued at approximately $7,576,486.67. This represents a 29.97 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Joseph Edward Sweeney sold 4,636 shares of the business’s stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $539.07, for a total transaction of $2,499,128.52. Following the completion of the sale, the insider now owns 7,237 shares in the company, valued at approximately $3,901,249.59. The trade was a 39.05 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 11,636 shares of company stock valued at $6,263,989 over the last ninety days. 0.96% of the stock is currently owned by company insiders.

Ameriprise Financial Stock Down 3.4 %

NYSE AMP opened at $481.64 on Friday. The stock’s 50-day moving average price is $524.55 and its 200-day moving average price is $522.43. The company has a market capitalization of $46.29 billion, a P/E ratio of 14.57, a price-to-earnings-growth ratio of 1.15 and a beta of 1.33. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 1.01. Ameriprise Financial, Inc. has a 52 week low of $385.74 and a 52 week high of $582.05.

Ameriprise Financial (NYSE:AMP) last issued its quarterly earnings results on Wednesday, January 29th. The financial services provider reported $9.36 earnings per share for the quarter, beating the consensus estimate of $9.16 by $0.20. Ameriprise Financial had a net margin of 19.70% and a return on equity of 69.35%. On average, equities research analysts predict that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current year.

Ameriprise Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Monday, February 10th were paid a $1.48 dividend. The ex-dividend date was Monday, February 10th. This represents a $5.92 dividend on an annualized basis and a yield of 1.23%. Ameriprise Financial’s payout ratio is presently 17.91%.

Ameriprise Financial 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.