PensionDanmark Pensionsforsikringsaktieselskab Has $12.32 Million Holdings in Ameriprise Financial, Inc. $AMP

PensionDanmark Pensionsforsikringsaktieselskab raised its holdings in Ameriprise Financial, Inc. (NYSE:AMP) by 10.3% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 26,864 shares of the financial services provider’s stock after buying an additional 2,500 shares during the period. PensionDanmark Pensionsforsikringsaktieselskab’s holdings in Ameriprise Financial were worth $12,324,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Brighton Jones LLC boosted its position in Ameriprise Financial by 6.9% during the fourth quarter. Brighton Jones LLC now owns 777 shares of the financial services provider’s stock worth $413,000 after purchasing an additional 50 shares during the period. Empowered Funds LLC raised its position in shares of Ameriprise Financial by 11.8% in the first quarter. Empowered Funds LLC now owns 6,022 shares of the financial services provider’s stock valued at $2,915,000 after purchasing an additional 634 shares during the period. Sivia Capital Partners LLC raised its position in shares of Ameriprise Financial by 14.1% in the second quarter. Sivia Capital Partners LLC now owns 584 shares of the financial services provider’s stock valued at $312,000 after purchasing an additional 72 shares during the period. Schnieders Capital Management LLC. acquired a new stake in shares of Ameriprise Financial during the 2nd quarter worth about $313,000. Finally, Gabelli Funds LLC lifted its stake in shares of Ameriprise Financial by 224.8% during the 2nd quarter. Gabelli Funds LLC now owns 4,222 shares of the financial services provider’s stock worth $2,253,000 after buying an additional 2,922 shares during the last quarter. 83.95% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently commented on AMP shares. Zacks Research upgraded shares of Ameriprise Financial from a “hold” rating to a “strong-buy” rating in a research note on Monday, July 27th. 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 report on Friday, July 10th. Morgan Stanley boosted their price objective on Ameriprise Financial from $467.00 to $489.00 and gave the stock an “underweight” rating in a report on Friday, July 10th. Piper Sandler upped their target price on Ameriprise Financial from $471.00 to $518.00 and gave the company a “neutral” rating in a research report on Monday, July 13th. Finally, Keefe, Bruyette & Woods increased their target price on Ameriprise Financial from $515.00 to $545.00 and gave the stock a “market perform” rating in a research note on Friday, July 24th. Two analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Ameriprise Financial has a consensus rating of “Moderate Buy” and a consensus price target of $555.33.

Ameriprise Financial Trading Down 1.5%

Shares of Ameriprise Financial stock opened at $551.27 on Friday. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.66 and a current ratio of 0.71. The firm has a 50-day moving average of $495.41 and a 200-day moving average of $478.07. Ameriprise Financial, Inc. has a 52-week low of $422.37 and a 52-week high of $565.05. The stock has a market cap of $49.56 billion, a PE ratio of 13.30, a PEG ratio of 0.75 and a beta of 1.14.

Ameriprise Financial (NYSE:AMP) last released its quarterly earnings results on Thursday, July 23rd. The financial services provider reported $11.07 EPS 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 business had revenue of $4.90 billion for the quarter, compared to analyst estimates of $4.87 billion. During the same period last year, the firm earned $9.11 earnings per share. Ameriprise Financial’s revenue for the quarter was up 11.6% compared to the same quarter last year. As a group, sell-side analysts forecast that Ameriprise Financial, Inc. will post 46.12 EPS for the current year.

Ameriprise Financial Announces Dividend

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

Insider Transactions at Ameriprise Financial

In other news, CFO Walter Stanley Berman sold 11,012 shares of the firm’s stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $548.95, for a total transaction of $6,045,037.40. Following the transaction, the chief financial officer directly owned 5,609 shares of the company’s stock, valued at approximately $3,079,060.55. This trade represents a 66.25% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Gerard P. Smyth sold 6,255 shares of Ameriprise Financial stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $472.52, for a total transaction of $2,955,612.60. Following the completion of the sale, the executive vice president owned 6,103 shares of the company’s stock, valued at approximately $2,883,789.56. The trade was a 50.61% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 33,371 shares of company stock valued at $17,668,423. 0.60% of the stock is currently owned by company insiders.

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.