Avanza Fonder AB Makes New Investment in Ameriprise Financial, Inc. (NYSE:AMP)

Avanza Fonder AB bought a new stake in Ameriprise Financial, Inc. (NYSE:AMP) in the fourth quarter, Holdings Channel reports. The institutional investor bought 7,338 shares of the financial services provider’s stock, valued at approximately $3,907,000.

Other hedge funds have also made changes to their positions in the company. JPMorgan Chase & Co. lifted its holdings in shares of Ameriprise Financial by 9.1% during the third quarter. JPMorgan Chase & Co. now owns 4,285,476 shares of the financial services provider’s stock worth $2,013,359,000 after purchasing an additional 358,699 shares during the period. Maj Invest Holding A S purchased a new position in Ameriprise Financial during the 3rd quarter worth $98,742,000. Assenagon Asset Management S.A. lifted its stake in shares of Ameriprise Financial by 816.7% in the 4th quarter. Assenagon Asset Management S.A. now owns 219,180 shares of the financial services provider’s stock worth $116,698,000 after acquiring an additional 195,271 shares during the period. The Manufacturers Life Insurance Company boosted its holdings in shares of Ameriprise Financial by 144.0% in the third quarter. The Manufacturers Life Insurance Company now owns 243,385 shares of the financial services provider’s stock valued at $114,345,000 after acquiring an additional 143,648 shares in the last quarter. Finally, International Assets Investment Management LLC acquired a new position in shares of Ameriprise Financial during the third quarter worth about $456,890,000. Institutional investors and hedge funds own 83.95% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. The Goldman Sachs Group downgraded shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $485.00 to $476.00 in a research report on Thursday, September 26th. UBS Group cut Ameriprise Financial from a “buy” rating to a “neutral” rating and reduced their price target for the company from $580.00 to $570.00 in a report on Monday, January 6th. Morgan Stanley upped their price objective on Ameriprise Financial from $440.00 to $502.00 and gave the stock an “equal weight” rating in a report on Thursday, October 17th. Royal Bank of Canada raised their target price on Ameriprise Financial from $535.00 to $550.00 and gave the company an “outperform” rating in a report on Friday, October 25th. Finally, Keefe, Bruyette & Woods lowered their price target on shares of Ameriprise Financial from $565.00 to $560.00 and set a “market perform” rating on the stock in a research note on Friday, January 10th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $494.89.

Insiders Place Their Bets

In other Ameriprise Financial news, insider Gumer Alvero sold 2,325 shares of the firm’s stock in a transaction on Thursday, October 31st. The stock was sold at an average price of $516.05, for a total transaction of $1,199,816.25. Following the completion of the transaction, the insider now owns 4,669 shares of the company’s stock, valued at approximately $2,409,437.45. This trade represents a 33.24 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Walter Stanley Berman sold 8,655 shares of the business’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $564.16, for a total value of $4,882,804.80. Following the completion of the transaction, the chief financial officer now directly owns 6,409 shares of the company’s stock, valued at approximately $3,615,701.44. This trade represents a 57.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 21,715 shares of company stock worth $11,983,436. Insiders own 0.73% of the company’s stock.

Ameriprise Financial Stock Up 0.9 %

Ameriprise Financial stock opened at $551.61 on Friday. The firm has a market capitalization of $53.51 billion, a price-to-earnings ratio of 21.18, a price-to-earnings-growth ratio of 0.78 and a beta of 1.36. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.65 and a current ratio of 0.65. Ameriprise Financial, Inc. has a fifty-two week low of $369.29 and a fifty-two week high of $577.00. The stock’s fifty day moving average is $548.42 and its two-hundred day moving average is $488.11.

Ameriprise Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Monday, November 4th were issued a dividend of $1.48 per share. The ex-dividend date was Monday, November 4th. This represents a $5.92 annualized dividend and a yield of 1.07%. Ameriprise Financial’s dividend payout ratio (DPR) is currently 22.73%.

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.