Maj Invest Holding A S Decreases Holdings in Ameriprise Financial, Inc. $AMP

Maj Invest Holding A S lowered its holdings in Ameriprise Financial, Inc. (NYSE:AMP) by 10.0% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 297,027 shares of the financial services provider’s stock after selling 33,173 shares during the period. Ameriprise Financial makes up 5.0% of Maj Invest Holding A S’s investment portfolio, making the stock its 10th largest position. Maj Invest Holding A S’s holdings in Ameriprise Financial were worth $145,915,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Brighton Jones LLC raised its stake in Ameriprise Financial by 6.9% in the fourth quarter. Brighton Jones LLC now owns 777 shares of the financial services provider’s stock valued at $413,000 after purchasing an additional 50 shares in the last quarter. Empowered Funds LLC increased its position in shares of Ameriprise Financial by 11.8% during the 1st 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 last quarter. Sivia Capital Partners LLC grew its position in Ameriprise Financial by 14.1% during the second quarter. Sivia Capital Partners LLC now owns 584 shares of the financial services provider’s stock valued at $312,000 after acquiring an additional 72 shares during the last quarter. Signaturefd LLC raised its position in Ameriprise Financial by 1.3% in the 2nd quarter. Signaturefd LLC now owns 2,608 shares of the financial services provider’s stock worth $1,392,000 after purchasing an additional 34 shares during the period. Finally, Sonora Investment Management Group LLC purchased a new position in shares of Ameriprise Financial in the second quarter worth about $203,000. Hedge funds and other institutional investors own 83.95% of the company’s stock.

Ameriprise Financial Stock Performance

Shares of AMP stock opened at $500.36 on Tuesday. The company’s fifty day moving average price is $485.90 and its 200-day moving average price is $492.29. The stock has a market cap of $46.49 billion, a PE ratio of 13.72, a price-to-earnings-growth ratio of 1.28 and a beta of 1.26. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 0.88. Ameriprise Financial, Inc. has a 12 month low of $396.14 and a 12 month high of $582.05.

Ameriprise Financial (NYSE:AMP) last issued its quarterly earnings results on Thursday, October 30th. The financial services provider reported $9.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $9.76 by $0.16. Ameriprise Financial had a net margin of 20.12% and a return on equity of 64.97%. The company had revenue of $4.73 billion during the quarter, compared to analysts’ expectations of $4.51 billion. During the same period last year, the company posted $9.02 EPS. Ameriprise Financial’s revenue was up 9.0% on a year-over-year basis. On average, equities analysts expect that Ameriprise Financial, Inc. will post 38.64 EPS for the current fiscal year.

Ameriprise Financial Announces Dividend

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

Insider Activity

In other news, Director Robert Francis Sharpe, Jr. sold 1,500 shares of the business’s stock in a transaction that occurred on Friday, November 21st. The stock was 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 of the company’s stock, valued at $3,382,050. The trade was a 16.67% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 0.57% of the company’s stock.

Wall Street Analysts Forecast Growth

AMP has been the topic of several analyst reports. Royal Bank Of Canada decreased their target price on shares of Ameriprise Financial from $601.00 to $550.00 and set an “outperform” rating on the stock in a research note on Monday, November 3rd. Morgan Stanley increased their price objective on Ameriprise Financial from $484.00 to $485.00 and gave the stock an “underweight” rating in a report on Monday, December 22nd. Argus reduced their target price on Ameriprise Financial from $568.00 to $554.00 and set a “buy” rating on the stock in a research note on Thursday, November 13th. Keefe, Bruyette & Woods cut their price target on shares of Ameriprise Financial from $550.00 to $530.00 and set a “market perform” rating on the stock in a report on Monday, November 3rd. Finally, BMO Capital Markets began coverage on shares of Ameriprise Financial in a research report on Friday, October 3rd. They set a “market perform” rating and a $525.00 price objective on the stock. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, four have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $528.75.

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.