Danske Bank A S Takes Position in Ameriprise Financial, Inc. $AMP

Danske Bank A S bought a new position in Ameriprise Financial, Inc. (NYSE:AMP) in the second quarter, according to the company in its most recent filing with the SEC. The fund bought 107,465 shares of the financial services provider’s stock, valued at approximately $49,301,000.

Other large investors have also recently modified their holdings of the company. SouthState Bank Corp raised its holdings in Ameriprise Financial by 78.6% during the 4th quarter. SouthState Bank Corp now owns 50 shares of the financial services provider’s stock valued at $25,000 after buying an additional 22 shares during the period. Cassaday & Co Wealth Management LLC purchased a new position in Ameriprise Financial during the first quarter worth $28,000. University of Texas Texas AM Investment Management Co. purchased a new position in Ameriprise Financial during the second quarter worth $28,000. Ares Financial Consulting LLC bought a new position in Ameriprise Financial during the fourth quarter valued at $32,000. Finally, Prosperity Bancshares Inc bought a new position in Ameriprise Financial during the fourth quarter valued at $33,000. Institutional investors own 83.95% of the company’s stock.

Insider Buying and Selling at Ameriprise Financial

In other Ameriprise Financial news, EVP Deirdre Davey Mcgraw sold 2,400 shares of the stock in a transaction on Thursday, August 6th. The stock was sold at an average price of $558.28, for a total transaction of $1,339,872.00. Following the sale, the executive vice president owned 3,373 shares of the company’s stock, valued at approximately $1,883,078.44. This trade represents a 41.57% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Dawn M. Brockman sold 472 shares of the stock in a transaction on Monday, August 10th. The shares were sold at an average price of $558.93, for a total value of $263,814.96. Following the sale, the senior vice president directly owned 713 shares in the company, valued at $398,517.09. This trade represents a 39.83% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 29,988 shares of company stock valued at $16,316,497. 0.60% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. Morgan Stanley increased their target price on shares of Ameriprise Financial from $467.00 to $489.00 and gave the company an “underweight” rating in a research note on Friday, July 10th. Piper Sandler lifted their price target on shares of Ameriprise Financial from $471.00 to $518.00 and gave the stock a “neutral” rating in a research note on Monday, July 13th. Keefe, Bruyette & Woods upped their price target on shares of Ameriprise Financial from $515.00 to $545.00 and gave the company a “market perform” rating in a report on Friday, July 24th. BMO Capital Markets increased their price objective on shares of Ameriprise Financial from $470.00 to $490.00 and gave the stock a “market perform” rating in a research report on Friday, April 24th. Finally, Jefferies Financial Group raised their price objective on shares of Ameriprise Financial from $636.00 to $645.00 and gave the stock a “buy” rating in a research note on Friday, July 10th. Two equities research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $555.33.

Ameriprise Financial Price Performance

AMP opened at $562.89 on Wednesday. The company has a market capitalization of $50.60 billion, a price-to-earnings ratio of 13.58, a PEG ratio of 0.77 and a beta of 1.14. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.99. Ameriprise Financial, Inc. has a 12-month low of $422.37 and a 12-month high of $572.56. The business’s fifty day simple moving average is $511.57 and its 200-day simple moving average is $481.04.

Ameriprise Financial (NYSE:AMP) last released its quarterly earnings data on Thursday, July 23rd. The financial services provider reported $11.07 earnings per share for the quarter, topping analysts’ consensus estimates of $10.81 by $0.26. Ameriprise Financial had a net margin of 20.24% and a return on equity of 64.19%. The company had revenue of $4.90 billion during the quarter, compared to analyst estimates of $4.87 billion. During the same period in the prior year, the firm earned $9.11 earnings per share. The firm’s revenue for the quarter was up 11.6% compared to the same quarter last year. On average, equities research analysts anticipate that Ameriprise Financial, Inc. will post 46.12 earnings per share for the current fiscal year.

Ameriprise Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 21st. Stockholders of record on Monday, August 3rd will be paid a dividend of $1.70 per share. The ex-dividend date is Monday, August 3rd. This represents a $6.80 dividend on an annualized basis and a dividend yield of 1.2%. Ameriprise Financial’s dividend payout ratio (DPR) is currently 16.40%.

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.