Maj Invest Holding A S Purchases 2,389 Shares of Ameriprise Financial, Inc. $AMP

Maj Invest Holding A S raised its position in Ameriprise Financial, Inc. (NYSE:AMP) by 0.8% during the 4th quarter, Holdings Channel.com reports. The firm owned 299,416 shares of the financial services provider’s stock after acquiring an additional 2,389 shares during the quarter. Ameriprise Financial accounts for about 6.8% of Maj Invest Holding A S’s investment portfolio, making the stock its 4th biggest position. Maj Invest Holding A S’s holdings in Ameriprise Financial were worth $146,814,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. State Street Corp raised its holdings in Ameriprise Financial by 0.4% during the third quarter. State Street Corp now owns 4,420,072 shares of the financial services provider’s stock worth $2,171,360,000 after purchasing an additional 18,879 shares in the last quarter. Boston Partners raised its holdings in Ameriprise Financial by 1.1% during the third quarter. Boston Partners now owns 1,193,048 shares of the financial services provider’s stock worth $586,083,000 after purchasing an additional 13,172 shares in the last quarter. Federated Hermes Inc. raised its holdings in Ameriprise Financial by 29.3% during the third quarter. Federated Hermes Inc. now owns 966,163 shares of the financial services provider’s stock worth $474,628,000 after purchasing an additional 219,080 shares in the last quarter. Legal & General Group Plc raised its holdings in Ameriprise Financial by 11.5% during the third quarter. Legal & General Group Plc now owns 634,413 shares of the financial services provider’s stock worth $311,655,000 after purchasing an additional 65,687 shares in the last quarter. Finally, AQR Capital Management LLC raised its holdings in Ameriprise Financial by 18.4% during the third quarter. AQR Capital Management LLC now owns 589,570 shares of the financial services provider’s stock worth $289,626,000 after purchasing an additional 91,697 shares in the last quarter. Institutional investors own 83.95% of the company’s stock.

Insider Activity at Ameriprise Financial

In other Ameriprise Financial news, 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 value of $2,955,612.60. Following the transaction, the executive vice president owned 6,103 shares in the company, valued at approximately $2,883,789.56. The trade was a 50.61% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Robert Francis Sharpe, Jr. sold 1,200 shares of Ameriprise Financial stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $465.83, for a total transaction of $558,996.00. Following the completion of the transaction, the director owned 6,300 shares in the company, valued at approximately $2,934,729. This trade represents a 16.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.60% of the company’s stock.

Ameriprise Financial Trading Up 0.2%

Ameriprise Financial stock opened at $471.26 on Tuesday. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.66 and a current ratio of 0.66. The firm has a market cap of $42.37 billion, a price-to-earnings ratio of 11.72, a price-to-earnings-growth ratio of 1.11 and a beta of 1.20. Ameriprise Financial, Inc. has a 1 year low of $422.37 and a 1 year high of $550.18. The firm’s 50 day moving average price is $454.49 and its two-hundred day moving average price is $473.50.

Ameriprise Financial (NYSE:AMP) last posted its quarterly earnings results on Thursday, April 23rd. The financial services provider reported $11.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $10.21 by $1.05. The firm had revenue of $4.77 billion for the quarter, compared to analyst estimates of $4.82 billion. Ameriprise Financial had a net margin of 20.57% and a return on equity of 62.88%. The firm’s quarterly revenue was up 9.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $9.50 earnings per share. On average, research analysts predict that Ameriprise Financial, Inc. will post 42.63 EPS for the current fiscal year.

Ameriprise Financial Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 22nd. Shareholders of record on Monday, May 4th will be given a $1.70 dividend. This represents a $6.80 annualized dividend and a yield of 1.4%. This is a positive change from Ameriprise Financial’s previous quarterly dividend of $1.60. The ex-dividend date is Monday, May 4th. Ameriprise Financial’s dividend payout ratio (DPR) is presently 16.91%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Raymond James Financial set a $582.00 target price on Ameriprise Financial and gave the stock a “strong-buy” rating in a report on Wednesday, February 11th. BMO Capital Markets boosted their target price on Ameriprise Financial from $470.00 to $490.00 and gave the stock a “market perform” rating in a report on Friday, April 24th. Keefe, Bruyette & Woods assumed coverage on Ameriprise Financial in a report on Friday, April 10th. They set a “hold” rating on the stock. Morgan Stanley boosted their target price on Ameriprise Financial from $452.00 to $467.00 and gave the stock an “underweight” rating in a report on Thursday, April 30th. Finally, Piper Sandler boosted their target price on Ameriprise Financial from $460.00 to $471.00 and gave the stock a “neutral” rating in a report on Monday, May 4th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $543.22.

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.