Livforsakringsbolaget Skandia Omsesidigt Cuts Position in Ameriprise Financial, Inc. (NYSE:AMP)

Livforsakringsbolaget Skandia Omsesidigt reduced its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 0.7% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 15,031 shares of the financial services provider’s stock after selling 100 shares during the period. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Ameriprise Financial were worth $8,003,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in AMP. JPMorgan Chase & Co. boosted its holdings in Ameriprise Financial by 9.1% during the third quarter. JPMorgan Chase & Co. now owns 4,285,476 shares of the financial services provider’s stock worth $2,013,359,000 after buying an additional 358,699 shares in the last quarter. Robeco Institutional Asset Management B.V. boosted its stake in shares of Ameriprise Financial by 429.0% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 417,149 shares of the financial services provider’s stock worth $222,103,000 after acquiring an additional 338,298 shares in the last quarter. Maj Invest Holding A S acquired a new stake in shares of Ameriprise Financial in the 3rd quarter worth approximately $98,742,000. Assenagon Asset Management S.A. increased its stake in Ameriprise Financial by 816.7% in the 4th quarter. Assenagon Asset Management S.A. now owns 219,180 shares of the financial services provider’s stock valued at $116,698,000 after purchasing an additional 195,271 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its holdings in Ameriprise Financial by 144.0% during the third quarter. The Manufacturers Life Insurance Company now owns 243,385 shares of the financial services provider’s stock worth $114,345,000 after purchasing an additional 143,648 shares during the last quarter. 83.95% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have weighed in on the company. Morgan Stanley upped their target price on Ameriprise Financial from $440.00 to $502.00 and gave the company an “equal weight” rating in a report on Thursday, October 17th. UBS Group downgraded shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and dropped their target price for the company from $580.00 to $570.00 in a report on Monday, January 6th. Keefe, Bruyette & Woods upped their price target on shares of Ameriprise Financial from $560.00 to $570.00 and gave the company a “market perform” rating in a report on Monday. Royal Bank of Canada reissued an “outperform” rating and set a $625.00 price objective on shares of Ameriprise Financial in a research note on Monday. Finally, Piper Sandler upped their target price on Ameriprise Financial from $415.00 to $442.00 and gave the company an “underweight” rating in a research note on Friday, January 31st. 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, the company currently has an average rating of “Hold” and an average target price of $510.44.

Ameriprise Financial Trading Up 0.7 %

Shares of Ameriprise Financial stock opened at $541.99 on Friday. The firm has a market cap of $52.58 billion, a PE ratio of 16.39, a P/E/G ratio of 1.18 and a beta of 1.36. The company has a quick ratio of 0.65, a current ratio of 0.59 and a debt-to-equity ratio of 1.01. Ameriprise Financial, Inc. has a fifty-two week low of $385.74 and a fifty-two week high of $582.05. The business’s fifty day moving average is $545.44 and its two-hundred day moving average is $500.53.

Ameriprise Financial (NYSE:AMP) last posted its quarterly earnings results on Wednesday, January 29th. The financial services provider reported $9.36 EPS for the quarter, beating the consensus estimate of $9.16 by $0.20. Ameriprise Financial had a return on equity of 69.35% and a net margin of 19.70%. Analysts anticipate that Ameriprise Financial, Inc. will post 38.68 earnings per share for the current year.

Ameriprise Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Monday, February 10th will be given a dividend of $1.48 per share. This represents a $5.92 annualized dividend and a yield of 1.09%. The ex-dividend date is Monday, February 10th. Ameriprise Financial’s dividend payout ratio (DPR) is 17.91%.

Insiders Place Their Bets

In other news, CFO Walter Stanley Berman sold 8,655 shares of the company’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $564.16, for a total transaction of $4,882,804.80. Following the completion of the sale, the chief financial officer now directly owns 6,409 shares in the company, valued at $3,615,701.44. This represents a 57.45 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.96% of the stock is currently owned by 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.