Skandinaviska Enskilda Banken AB publ Has $9.15 Million Stake in Ameriprise Financial, Inc. $AMP

Skandinaviska Enskilda Banken AB publ reduced its stake in Ameriprise Financial, Inc. (NYSE:AMP) by 6.7% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,615 shares of the financial services provider’s stock after selling 1,329 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in Ameriprise Financial were worth $9,145,000 as of its most recent SEC filing.

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

Insiders Place Their Bets

In related news, CFO Walter Stanley Berman sold 7,000 shares of Ameriprise Financial stock in a transaction dated Thursday, February 5th. The shares were sold at an average price of $544.22, for a total transaction of $3,809,540.00. Following the completion of the sale, the chief financial officer owned 5,609 shares of the company’s stock, valued at approximately $3,052,529.98. The trade was a 55.52% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Robert Francis Sharpe, Jr. sold 1,500 shares of the company’s stock in a transaction dated Friday, November 21st. The shares were sold at an average price of $450.94, for a total transaction of $676,410.00. Following the completion of the transaction, the director owned 7,500 shares in the company, valued at approximately $3,382,050. This trade represents a 16.67% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 18,158 shares of company stock worth $9,675,085. Company insiders own 0.73% of the company’s stock.

Ameriprise Financial Stock Up 2.0%

Shares of AMP stock opened at $478.23 on Thursday. Ameriprise Financial, Inc. has a 52-week low of $396.14 and a 52-week high of $550.18. The stock has a market cap of $44.43 billion, a price-to-earnings ratio of 13.15, a PEG ratio of 1.09 and a beta of 1.26. The firm’s 50-day moving average is $501.75 and its 200-day moving average is $490.16. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.68 and a current ratio of 0.68.

Ameriprise Financial (NYSE:AMP) last announced its quarterly earnings results on Thursday, January 29th. The financial services provider reported $10.83 earnings per share for the quarter, topping analysts’ consensus estimates of $10.33 by $0.50. The firm had revenue of $4.90 billion for the quarter, compared to the consensus estimate of $4.75 billion. Ameriprise Financial had a return on equity of 63.04% and a net margin of 19.28%.The business’s revenue was up 10.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $9.54 earnings per share. Sell-side analysts predict that Ameriprise Financial, Inc. will post 38.64 EPS for the current year.

Ameriprise Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 27th. Investors of record on Monday, February 9th will be paid a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date is Monday, February 9th. Ameriprise Financial’s dividend payout ratio is 17.60%.

Analyst Ratings Changes

AMP has been the topic of a number of research reports. Jefferies Financial Group boosted their price objective on shares of Ameriprise Financial from $600.00 to $620.00 and gave the stock a “buy” rating in a research report on Monday, February 2nd. Argus lowered their price target on shares of Ameriprise Financial from $568.00 to $554.00 and set a “buy” rating on the stock in a research note on Thursday, November 13th. Piper Sandler upgraded shares of Ameriprise Financial from an “underweight” rating to a “neutral” rating and increased their price objective for the stock from $434.00 to $530.00 in a research note on Friday, January 30th. Raymond James Financial set a $582.00 price objective on Ameriprise Financial and gave the company a “strong-buy” rating in a report on Wednesday, February 11th. Finally, Keefe, Bruyette & Woods dropped their target price on Ameriprise Financial from $550.00 to $530.00 and set a “market perform” rating on the stock in a report on Monday, November 3rd. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $555.67.

Ameriprise Financial Profile

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.