Livforsakringsbolaget Skandia Omsesidigt Lowers Holdings in Ameriprise Financial, Inc. (NYSE:AMP)

Livforsakringsbolaget Skandia Omsesidigt reduced its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 0.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 15,031 shares of the financial services provider’s stock after selling 100 shares during the period. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Ameriprise Financial were worth $8,003,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. increased its position 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 acquiring an additional 358,699 shares during the period. Robeco Institutional Asset Management B.V. increased its holdings in Ameriprise Financial by 429.0% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 417,149 shares of the financial services provider’s stock worth $222,103,000 after purchasing an additional 338,298 shares during the period. Maj Invest Holding A S acquired a new stake in Ameriprise Financial in the 3rd quarter valued at about $98,742,000. Assenagon Asset Management S.A. boosted 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 valued at $116,698,000 after buying an additional 195,271 shares during the period. Finally, The Manufacturers Life Insurance Company grew its position in shares of Ameriprise Financial by 144.0% during the third quarter. The Manufacturers Life Insurance Company now owns 243,385 shares of the financial services provider’s stock worth $114,345,000 after buying an additional 143,648 shares in the last quarter. 83.95% of the stock is currently owned by institutional investors and hedge funds.

Ameriprise Financial Stock Performance

Shares of Ameriprise Financial stock opened at $541.99 on Friday. The firm’s fifty day simple moving average is $545.44 and its 200-day simple moving average is $500.53. Ameriprise Financial, Inc. has a 12 month low of $385.74 and a 12 month high of $582.05. The stock has a market capitalization of $52.58 billion, a price-to-earnings ratio of 16.39, a PEG ratio of 1.18 and a beta of 1.36. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.59 and a quick ratio of 0.65.

Ameriprise Financial (NYSE:AMP) last released its quarterly earnings results on Wednesday, January 29th. The financial services provider reported $9.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $9.16 by $0.20. Ameriprise Financial had a return on equity of 69.35% and a net margin of 19.70%. As a group, equities analysts forecast that Ameriprise Financial, Inc. will post 38.68 earnings per share for the current year.

Ameriprise Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Monday, February 10th will be paid a dividend of $1.48 per share. This represents a $5.92 annualized dividend and a dividend yield of 1.09%. The ex-dividend date is Monday, February 10th. Ameriprise Financial’s dividend payout ratio (DPR) is presently 17.91%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. Keefe, Bruyette & Woods raised their price objective on shares of Ameriprise Financial from $560.00 to $570.00 and gave the company a “market perform” rating in a report on Monday. Piper Sandler raised their price target on 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 cut Ameriprise Financial from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $580.00 to $570.00 in a research report on Monday, January 6th. Royal Bank of Canada reissued an “outperform” rating and set a $625.00 target price on shares of Ameriprise Financial in a research report on Monday. Finally, Morgan Stanley upped their price target on Ameriprise Financial from $440.00 to $502.00 and gave the company an “equal weight” rating in a report on Thursday, October 17th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $510.44.

Insider Activity at Ameriprise Financial

In other news, CFO Walter Stanley Berman sold 8,655 shares of the firm’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $564.16, for a total value of $4,882,804.80. Following the completion of the sale, the chief financial officer now owns 6,409 shares in the company, valued at approximately $3,615,701.44. This trade represents a 57.45 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.96% of the stock is currently owned by insiders.

Ameriprise Financial Company 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.