Connor Clark & Lunn Investment Management Ltd. Has $42.98 Million Stock Holdings in Ameriprise Financial, Inc. $AMP

Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 280.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 87,482 shares of the financial services provider’s stock after acquiring an additional 64,494 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Ameriprise Financial were worth $42,976,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in AMP. Vanguard Group Inc. lifted its position in shares of Ameriprise Financial by 0.9% in the 2nd quarter. Vanguard Group Inc. now owns 12,432,261 shares of the financial services provider’s stock worth $6,635,471,000 after acquiring an additional 111,386 shares during the period. JPMorgan Chase & Co. raised its stake in shares of Ameriprise Financial by 7.7% in the second quarter. JPMorgan Chase & Co. now owns 6,270,995 shares of the financial services provider’s stock valued at $3,347,019,000 after purchasing an additional 446,080 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Ameriprise Financial by 1.7% in the second quarter. Geode Capital Management LLC now owns 2,818,428 shares of the financial services provider’s stock valued at $1,500,115,000 after purchasing an additional 47,584 shares in the last quarter. Norges Bank bought a new position in Ameriprise Financial in the second quarter worth $693,736,000. Finally, Boston Partners lifted its position in Ameriprise Financial by 3.1% in the second quarter. Boston Partners now owns 1,179,876 shares of the financial services provider’s stock worth $629,650,000 after purchasing an additional 35,500 shares during the period. Institutional investors and hedge funds own 83.95% of the company’s stock.

Ameriprise Financial Stock Performance

Ameriprise Financial stock opened at $439.51 on Friday. The firm has a market capitalization of $40.07 billion, a P/E ratio of 12.09, a P/E/G ratio of 1.05 and a beta of 1.27. The stock has a fifty day moving average price of $492.60 and a two-hundred day moving average price of $485.65. Ameriprise Financial, Inc. has a 52-week low of $396.14 and a 52-week high of $550.18. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.68 and a quick ratio of 0.68.

Ameriprise Financial (NYSE:AMP) last issued its earnings results on Thursday, January 29th. The financial services provider reported $10.83 EPS for the quarter, beating the consensus estimate of $10.33 by $0.50. Ameriprise Financial had a net margin of 19.28% and a return on equity of 63.04%. The company had revenue of $4.92 billion for the quarter, compared to the consensus estimate of $4.75 billion. The firm’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $9.54 EPS. As a group, analysts anticipate that Ameriprise Financial, Inc. will post 38.64 EPS for the current fiscal year.

Ameriprise Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 27th. Shareholders of record on Monday, February 9th were given a $1.60 dividend. The ex-dividend date was Monday, February 9th. This represents a $6.40 dividend on an annualized basis and a yield of 1.5%. Ameriprise Financial’s payout ratio is 17.60%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. BMO Capital Markets reissued a “market perform” rating on shares of Ameriprise Financial in a report on Tuesday, March 3rd. Piper Sandler upgraded shares of Ameriprise Financial from an “underweight” rating to a “neutral” rating and lifted their target price for the company from $434.00 to $530.00 in a research report on Friday, January 30th. Royal Bank Of Canada reissued an “outperform” rating and issued a $605.00 target price (up from $580.00) on shares of Ameriprise Financial in a research note on Monday, February 2nd. Argus dropped their price target on shares of Ameriprise Financial from $568.00 to $554.00 and set a “buy” rating for the company in a research report on Thursday, November 13th. Finally, Morgan Stanley raised their price target on shares of Ameriprise Financial from $484.00 to $485.00 and gave the stock an “underweight” rating in a research note on Monday, December 22nd. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $555.67.

Insiders Place Their Bets

In other Ameriprise Financial news, insider Gumer Alvero sold 4,658 shares of the company’s stock in a transaction dated Monday, February 9th. The shares were sold at an average price of $542.88, for a total transaction of $2,528,735.04. Following the sale, the insider directly owned 4,621 shares of the company’s stock, valued at approximately $2,508,648.48. This represents a 50.20% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO William F. Truscott sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 10th. The stock was sold at an average price of $532.08, for a total transaction of $2,660,400.00. Following the sale, the chief executive officer directly owned 12,149 shares of the company’s stock, valued at approximately $6,464,239.92. The trade was a 29.16% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 16,658 shares of company stock valued at $8,998,675. 0.73% of the stock is currently owned by 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.