Ameriprise Financial, Inc. $AMP is Maj Invest Holding A S’s 10th Largest Position

Maj Invest Holding A S lessened its holdings in Ameriprise Financial, Inc. (NYSE:AMP) by 10.0% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 297,027 shares of the financial services provider’s stock after selling 33,173 shares during the period. Ameriprise Financial makes up approximately 5.0% of Maj Invest Holding A S’s portfolio, making the stock its 10th biggest holding. Maj Invest Holding A S owned 0.32% of Ameriprise Financial worth $145,915,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Kornitzer Capital Management Inc. KS bought a new stake in Ameriprise Financial during the third quarter worth $5,667,000. Clark Financial Services Group Inc. BD raised its stake in shares of Ameriprise Financial by 16.6% during the 3rd quarter. Clark Financial Services Group Inc. BD now owns 492 shares of the financial services provider’s stock worth $242,000 after purchasing an additional 70 shares during the period. Tufton Capital Management purchased a new position in shares of Ameriprise Financial in the 3rd quarter worth about $260,000. BLB&B Advisors LLC boosted its holdings in shares of Ameriprise Financial by 2.8% in the 3rd quarter. BLB&B Advisors LLC now owns 1,191 shares of the financial services provider’s stock worth $585,000 after buying an additional 33 shares during the last quarter. Finally, PFG Investments LLC grew its position in Ameriprise Financial by 13.3% during the third quarter. PFG Investments LLC now owns 1,467 shares of the financial services provider’s stock valued at $721,000 after buying an additional 172 shares during the period. 83.95% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Keefe, Bruyette & Woods dropped their target price on shares of Ameriprise Financial from $550.00 to $530.00 and set a “market perform” rating on the stock in a research note on Monday, November 3rd. 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 report on Thursday, November 13th. BMO Capital Markets started coverage on Ameriprise Financial in a report on Friday, October 3rd. They set a “market perform” rating and a $525.00 price objective for the company. Royal Bank Of Canada lowered their target price on Ameriprise Financial from $601.00 to $550.00 and set an “outperform” rating on the stock in a research note on Monday, November 3rd. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Ameriprise Financial in a research note on Monday, December 29th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, four have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $528.75.

Insider Transactions at Ameriprise Financial

In other Ameriprise Financial news, Director Robert Francis Sharpe, Jr. sold 1,500 shares of the stock in a transaction that occurred on Friday, November 21st. The shares were sold at an average price of $450.94, for a total value of $676,410.00. Following the sale, the director directly owned 7,500 shares in the company, valued at $3,382,050. This represents a 16.67% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.57% of the stock is owned by corporate insiders.

Ameriprise Financial Stock Performance

NYSE:AMP opened at $500.36 on Tuesday. The business’s fifty day moving average is $485.90 and its 200 day moving average is $492.29. The firm has a market cap of $46.49 billion, a price-to-earnings ratio of 13.72, a PEG ratio of 1.28 and a beta of 1.26. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.68 and a current ratio of 0.68. Ameriprise Financial, Inc. has a 52-week low of $396.14 and a 52-week high of $582.05.

Ameriprise Financial (NYSE:AMP) last posted its earnings results on Thursday, October 30th. The financial services provider reported $9.92 earnings per share for the quarter, beating analysts’ consensus estimates of $9.76 by $0.16. Ameriprise Financial had a return on equity of 64.97% and a net margin of 20.12%.The business had revenue of $4.73 billion during the quarter, compared to analyst estimates of $4.51 billion. During the same quarter in the previous year, the firm earned $9.02 EPS. The company’s quarterly revenue was up 9.0% compared to the same quarter last year. Research analysts predict that Ameriprise Financial, Inc. will post 38.64 EPS for the current year.

Ameriprise Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, November 24th. Investors of record on Monday, November 10th were issued a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend was Monday, November 10th. Ameriprise Financial’s dividend payout ratio is 17.55%.

Ameriprise Financial Company 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.