Maj Invest Holding A S Boosts Stock Position in Ameriprise Financial, Inc. (NYSE:AMP)

Maj Invest Holding A S boosted its position in Ameriprise Financial, Inc. (NYSE:AMP) by 67.5% during the fourth quarter, Holdings Channel reports. The institutional investor owned 352,095 shares of the financial services provider’s stock after purchasing an additional 141,927 shares during the quarter. Ameriprise Financial comprises approximately 6.2% of Maj Invest Holding A S’s portfolio, making the stock its 2nd largest holding. Maj Invest Holding A S’s holdings in Ameriprise Financial were worth $187,466,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the stock. Oakworth Capital Inc. bought a new stake in shares of Ameriprise Financial during the 3rd quarter worth $31,000. Sound Income Strategies LLC acquired a new position in Ameriprise Financial in the fourth quarter valued at $36,000. Country Trust Bank increased its holdings in Ameriprise Financial by 213.6% in the third quarter. Country Trust Bank now owns 69 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 47 shares in the last quarter. Albion Financial Group UT acquired a new position in shares of Ameriprise Financial during the 4th quarter valued at $46,000. Finally, Peterson Financial Group Inc. acquired a new stake in shares of Ameriprise Financial in the 3rd quarter valued at about $45,000. Institutional investors own 83.95% of the company’s stock.

Ameriprise Financial Stock Performance

Shares of AMP stock opened at $563.57 on Monday. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.99. The stock has a market cap of $54.67 billion, a PE ratio of 21.63, a price-to-earnings-growth ratio of 0.85 and a beta of 1.36. The business has a 50-day simple moving average of $548.23 and a 200-day simple moving average of $493.83. Ameriprise Financial, Inc. has a 52-week low of $370.12 and a 52-week high of $577.00.

Wall Street Analysts Forecast Growth

Several research firms have commented on AMP. UBS Group lowered shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $580.00 to $570.00 in a research note on Monday, January 6th. Morgan Stanley lifted their target price on shares of Ameriprise Financial from $440.00 to $502.00 and gave the company an “equal weight” rating in a research report on Thursday, October 17th. Keefe, Bruyette & Woods lowered their price target on shares of Ameriprise Financial from $565.00 to $560.00 and set a “market perform” rating for the company in a research note on Friday, January 10th. Finally, Royal Bank of Canada increased their target price on shares of Ameriprise Financial from $535.00 to $550.00 and gave the stock an “outperform” rating in a report on Friday, October 25th. One research analyst has rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, Ameriprise Financial currently has an average rating of “Hold” and an average price target of $494.89.

Insider Activity

In related news, insider Gumer Alvero sold 2,325 shares of the stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $516.05, for a total transaction of $1,199,816.25. Following the transaction, the insider now owns 4,669 shares of the company’s stock, valued at approximately $2,409,437.45. This represents a 33.24 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Joseph Edward Sweeney sold 10,735 shares of the business’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $549.68, for a total value of $5,900,814.80. Following the transaction, the insider now directly owns 5,811 shares of the company’s stock, valued at approximately $3,194,190.48. This represents a 64.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 21,715 shares of company stock worth $11,983,436 over the last 90 days. 0.73% of the stock is currently owned by company insiders.

Ameriprise Financial Company Profile

Ameriprise Financial, Inc, together with its subsidiaries, provides various financial products and services to individual and institutional clients in the United States and internationally. It operates through four segments: Advice & Wealth Management, Asset Management, Retirement & Protection Solutions, and Corporate & Other.