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

Maj Invest Holding A S purchased a new stake in Ameriprise Financial, Inc. (NYSE:AMP) during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 210,168 shares of the financial services provider’s stock, valued at approximately $98,742,000. Ameriprise Financial accounts for about 2.6% of Maj Invest Holding A S’s holdings, making the stock its 20th biggest holding. Maj Invest Holding A S owned 0.21% of Ameriprise Financial as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Retirement Group LLC bought a new stake in Ameriprise Financial during the 1st quarter worth approximately $25,000. DiNuzzo Private Wealth Inc. raised its position in Ameriprise Financial by 268.8% in the 2nd quarter. DiNuzzo Private Wealth Inc. now owns 59 shares of the financial services provider’s stock valued at $25,000 after buying an additional 43 shares during the last quarter. Accordant Advisory Group Inc purchased a new stake in Ameriprise Financial in the 2nd quarter valued at $26,000. Redmont Wealth Advisors LLC bought a new position in Ameriprise Financial during the 1st quarter valued at $28,000. Finally, Mascoma Wealth Management LLC boosted its holdings in Ameriprise Financial by 153.8% during the 2nd quarter. Mascoma Wealth Management LLC now owns 66 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 40 shares during the last quarter. 83.95% of the stock is currently owned by institutional investors.

Ameriprise Financial Stock Performance

Shares of AMP opened at $502.50 on Friday. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.59 and a current ratio of 0.59. The stock has a market capitalization of $49.34 billion, a price-to-earnings ratio of 17.21, a price-to-earnings-growth ratio of 0.81 and a beta of 1.35. Ameriprise Financial, Inc. has a 52-week low of $306.63 and a 52-week high of $502.97. The stock’s 50-day simple moving average is $445.74 and its 200 day simple moving average is $434.43.

Ameriprise Financial (NYSE:AMP) last issued its quarterly earnings data on Wednesday, July 24th. The financial services provider reported $8.72 EPS for the quarter, beating the consensus estimate of $8.53 by $0.19. Ameriprise Financial had a net margin of 18.64% and a return on equity of 73.83%. The company had revenue of $4.39 billion during the quarter, compared to analysts’ expectations of $4.24 billion. During the same quarter in the previous year, the company earned $7.44 earnings per share. Ameriprise Financial’s revenue for the quarter was up 9.6% on a year-over-year basis. Research analysts forecast that Ameriprise Financial, Inc. will post 34.92 EPS for the current fiscal year.

Ameriprise Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 16th. Stockholders of record on Monday, August 5th were issued a $1.48 dividend. The ex-dividend date was Monday, August 5th. This represents a $5.92 annualized dividend and a dividend yield of 1.18%. Ameriprise Financial’s payout ratio is currently 20.28%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. UBS Group lifted their target price on shares of Ameriprise Financial from $490.00 to $555.00 and gave the stock a “buy” rating in a research report on Tuesday. The Goldman Sachs Group downgraded shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $485.00 to $476.00 in a report on Thursday, September 26th. Piper Sandler reduced their target price on shares of Ameriprise Financial from $390.00 to $387.00 and set an “underweight” rating for the company in a research report on Friday, June 28th. Jefferies Financial Group raised their price target on shares of Ameriprise Financial from $500.00 to $504.00 and gave the stock a “buy” rating in a research note on Friday, June 28th. Finally, Royal Bank of Canada upped their price objective on Ameriprise Financial from $500.00 to $535.00 and gave the company an “outperform” rating in a research note on Friday. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Ameriprise Financial currently has a consensus rating of “Hold” and a consensus price target of $473.56.

Insider Buying and Selling

In other Ameriprise Financial news, VP William Davies sold 8,700 shares of the company’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $442.07, for a total value of $3,846,009.00. Following the transaction, the vice president now directly owns 13,199 shares in the company, valued at $5,834,881.93. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.73% of the stock is currently owned by company insiders.

Ameriprise Financial 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.