Maj Invest Holding A S Has $120.64 Million Stock Position in Ameriprise Financial, Inc. $AMP

Maj Invest Holding A S lessened its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 11.7% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 262,966 shares of the financial services provider’s stock after selling 34,712 shares during the quarter. Ameriprise Financial accounts for approximately 5.5% of Maj Invest Holding A S’s portfolio, making the stock its 8th largest position. Maj Invest Holding A S’s holdings in Ameriprise Financial were worth $120,639,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in Ameriprise Financial by 5.7% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 199,258 shares of the financial services provider’s stock valued at $98,388,000 after purchasing an additional 10,782 shares during the last quarter. National Pension Service raised its stake in shares of Ameriprise Financial by 8.2% in the fourth quarter. National Pension Service now owns 165,543 shares of the financial services provider’s stock worth $81,172,000 after purchasing an additional 12,563 shares during the last quarter. KBC Group NV raised its stake in shares of Ameriprise Financial by 12.2% in the fourth quarter. KBC Group NV now owns 150,606 shares of the financial services provider’s stock worth $73,848,000 after purchasing an additional 16,433 shares during the last quarter. LSV Asset Management lifted its holdings in shares of Ameriprise Financial by 1.3% in the fourth quarter. LSV Asset Management now owns 272,018 shares of the financial services provider’s stock valued at $133,381,000 after purchasing an additional 3,548 shares in the last quarter. Finally, PFA Pension Forsikringsaktieselskab bought a new position in shares of Ameriprise Financial in the fourth quarter valued at approximately $72,050,000. Institutional investors and hedge funds own 83.95% of the company’s stock.

Ameriprise Financial Stock Performance

AMP stock opened at $551.27 on Friday. The firm has a market cap of $49.56 billion, a PE ratio of 13.30, a P/E/G ratio of 0.74 and a beta of 1.14. The company has a quick ratio of 0.66, a current ratio of 0.71 and a debt-to-equity ratio of 0.99. The business has a 50 day moving average of $495.41 and a 200-day moving average of $478.07. Ameriprise Financial, Inc. has a 12-month low of $422.37 and a 12-month high of $565.05.

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

Ameriprise Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 21st. Stockholders of record on Monday, August 3rd will be paid a dividend of $1.70 per share. This represents a $6.80 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date is Monday, August 3rd. Ameriprise Financial’s payout ratio is presently 16.40%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on AMP. BMO Capital Markets upped their price target on Ameriprise Financial from $470.00 to $490.00 and gave the stock a “market perform” rating in a report on Friday, April 24th. Morgan Stanley raised their price objective on Ameriprise Financial from $467.00 to $489.00 and gave the company an “underweight” rating in a research note on Friday, July 10th. Zacks Research raised shares of Ameriprise Financial from a “hold” rating to a “strong-buy” rating in a report on Monday, July 27th. Jefferies Financial Group upped their target price on shares of Ameriprise Financial from $636.00 to $645.00 and gave the stock a “buy” rating in a research note on Friday, July 10th. Finally, Keefe, Bruyette & Woods increased their target price on shares of Ameriprise Financial from $515.00 to $545.00 and gave the company a “market perform” rating in a report on Friday, July 24th. Two equities research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Ameriprise Financial has an average rating of “Moderate Buy” and an average price target of $555.33.

Insider Transactions at Ameriprise Financial

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

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.