Danske Bank A S Increases Stock Holdings in Ameriprise Financial, Inc. $AMP

Danske Bank A S increased its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 47.2% during the 4th quarter, HoldingsChannel.com reports. The firm owned 88,736 shares of the financial services provider’s stock after purchasing an additional 28,441 shares during the quarter. Danske Bank A S’s holdings in Ameriprise Financial were worth $43,511,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of AMP. AE Wealth Management LLC grew its position in shares of Ameriprise Financial by 104.2% during the third quarter. AE Wealth Management LLC now owns 3,962 shares of the financial services provider’s stock worth $1,946,000 after acquiring an additional 2,022 shares during the last quarter. National Pension Service raised its position in Ameriprise Financial by 4.6% in the 3rd quarter. National Pension Service now owns 152,980 shares of the financial services provider’s stock valued at $75,151,000 after purchasing an additional 6,724 shares during the last quarter. Optimize Financial Inc acquired a new stake in Ameriprise Financial during the 3rd quarter worth $453,000. Arjuna Capital grew its position in Ameriprise Financial by 14.6% during the 3rd quarter. Arjuna Capital now owns 12,613 shares of the financial services provider’s stock worth $6,196,000 after purchasing an additional 1,610 shares during the last quarter. Finally, Candriam S.C.A. grew its position in Ameriprise Financial by 83.9% during the 3rd quarter. Candriam S.C.A. now owns 63,839 shares of the financial services provider’s stock worth $31,361,000 after purchasing an additional 29,116 shares during the last quarter. Hedge funds and other institutional investors own 83.95% of the company’s stock.

Ameriprise Financial Stock Down 1.6%

Shares of NYSE:AMP opened at $467.24 on Friday. Ameriprise Financial, Inc. has a fifty-two week low of $422.37 and a fifty-two week high of $550.18. The company has a quick ratio of 0.68, a current ratio of 0.66 and a debt-to-equity ratio of 0.90. The firm’s 50-day simple moving average is $454.79 and its 200-day simple moving average is $474.20. The company has a market cap of $42.60 billion, a price-to-earnings ratio of 11.62, a PEG ratio of 1.15 and a beta of 1.20.

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 during the quarter, compared to analysts’ expectations of $4.82 billion. Ameriprise Financial had a net margin of 20.57% and a return on equity of 62.88%. The firm’s revenue for the quarter was up 9.7% on a year-over-year basis. During the same period in the prior year, the company posted $9.50 earnings per share. As a group, equities research analysts predict that Ameriprise Financial, Inc. will post 41.39 earnings per share for the current year.

Ameriprise Financial Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 22nd. Stockholders of record on Monday, May 4th will be paid a dividend of $1.70 per share. This is a positive change from Ameriprise Financial’s previous quarterly dividend of $1.60. The ex-dividend date of this dividend is Monday, May 4th. This represents a $6.80 dividend on an annualized basis and a dividend yield of 1.5%. Ameriprise Financial’s dividend payout ratio (DPR) is currently 15.92%.

Insider Transactions at Ameriprise Financial

In related news, CFO Walter Stanley Berman sold 7,000 shares of the company’s stock in a transaction on Thursday, February 5th. The stock was sold at an average price of $544.22, for a total transaction of $3,809,540.00. Following the transaction, the chief financial officer owned 5,609 shares of the company’s stock, valued at $3,052,529.98. This represents a 55.52% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Gumer Alvero sold 4,658 shares of the stock in a transaction on Monday, February 9th. The stock was sold at an average price of $542.88, for a total value of $2,528,735.04. Following the completion of the transaction, the insider owned 4,621 shares of the company’s stock, valued at $2,508,648.48. The trade was a 50.20% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 16,658 shares of company stock valued at $8,998,675. Corporate insiders own 0.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on AMP. Piper Sandler reduced their target price on shares of Ameriprise Financial from $530.00 to $460.00 and set a “hold” rating for the company in a report on Tuesday, April 7th. Morgan Stanley raised their price target on Ameriprise Financial from $452.00 to $467.00 and gave the stock an “underweight” rating in a report on Thursday. Royal Bank Of Canada restated an “outperform” rating and issued a $605.00 price target (up from $580.00) on shares of Ameriprise Financial in a research report on Monday, February 2nd. Keefe, Bruyette & Woods initiated coverage on Ameriprise Financial in a research note on Friday, April 10th. They set a “hold” rating for the company. Finally, Jefferies Financial Group increased their price objective on Ameriprise Financial from $600.00 to $620.00 and gave the stock a “buy” rating in a research report on Monday, February 2nd. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $542.00.

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.