PensionDanmark Pensionsforsikringsaktieselskab Purchases 2,500 Shares of Ameriprise Financial, Inc. $AMP

PensionDanmark Pensionsforsikringsaktieselskab boosted its position in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 10.3% during the second quarter, HoldingsChannel reports. The institutional investor owned 26,864 shares of the financial services provider’s stock after purchasing 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 reporting period.

Other hedge funds have also recently bought and sold shares of the company. Assenagon Asset Management S.A. raised its position in shares of Ameriprise Financial by 142.1% in the 2nd quarter. Assenagon Asset Management S.A. now owns 191,496 shares of the financial services provider’s stock valued at $87,851,000 after buying an additional 112,390 shares in the last quarter. GAMMA Investing LLC lifted its holdings in shares of Ameriprise Financial by 1.9% during the 2nd quarter. GAMMA Investing LLC now owns 4,725 shares of the financial services provider’s stock worth $2,168,000 after acquiring an additional 87 shares during the period. Central Pacific Bank Trust Division acquired a new stake in shares of Ameriprise Financial during the 2nd quarter worth approximately $186,000. CX Institutional boosted its position in shares of Ameriprise Financial by 4.2% during the 2nd quarter. CX Institutional now owns 10,540 shares of the financial services provider’s stock worth $4,835,000 after acquiring an additional 424 shares in the last quarter. Finally, First County Bank CT increased its stake in Ameriprise Financial by 6.1% in the second quarter. First County Bank CT now owns 1,647 shares of the financial services provider’s stock valued at $756,000 after acquiring an additional 94 shares during the last quarter. 83.95% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have commented on AMP. BMO Capital Markets boosted their price objective on shares of Ameriprise Financial from $470.00 to $490.00 and gave the company a “market perform” rating in a research report on Friday, April 24th. Jefferies Financial Group raised their target price on Ameriprise Financial from $636.00 to $645.00 and gave the company a “buy” rating in a report on Friday, July 10th. Morgan Stanley lifted their price target on 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 boosted their price target on Ameriprise Financial from $471.00 to $518.00 and gave the stock a “neutral” rating in a report on Monday, July 13th. Finally, Keefe, Bruyette & Woods upped their price objective on Ameriprise Financial from $515.00 to $545.00 and gave the stock a “market perform” rating in a research report on Friday, July 24th. Two equities research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $555.33.

Insider Buying and Selling

In related news, CFO Walter Stanley Berman sold 11,012 shares of the business’s stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $548.95, for a total transaction of $6,045,037.40. Following the sale, the chief financial officer owned 5,609 shares in the company, valued at $3,079,060.55. The trade was a 66.25% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider William Jerryl Williams sold 8,210 shares of the company’s stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $539.35, for a total value of $4,428,063.50. Following the completion of the transaction, the insider directly owned 6,780 shares of the company’s stock, valued at approximately $3,656,793. The trade was a 54.77% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 33,371 shares of company stock worth $17,668,423 in the last 90 days. Insiders own 0.60% of the company’s stock.

Ameriprise Financial Price Performance

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

Ameriprise Financial (NYSE:AMP) last issued its earnings results on Thursday, July 23rd. The financial services provider reported $11.07 earnings per share for the quarter, beating analysts’ consensus estimates of $10.81 by $0.26. The firm had revenue of $4.90 billion for the quarter, compared to analyst estimates of $4.87 billion. Ameriprise Financial had a net margin of 20.24% and a return on equity of 64.19%. The company’s quarterly revenue was up 11.6% on a year-over-year basis. During the same quarter last year, the business posted $9.11 earnings per share. Research analysts predict that Ameriprise Financial, Inc. will post 46.12 earnings per share for the current fiscal year.

Ameriprise Financial Announces Dividend

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

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.