Ameriprise Financial, Inc. $AMP Shares Purchased by BI Asset Management Fondsmaeglerselskab A S

BI Asset Management Fondsmaeglerselskab A S boosted its holdings in Ameriprise Financial, Inc. (NYSE:AMP) by 2.8% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 93,676 shares of the financial services provider’s stock after acquiring an additional 2,567 shares during the period. BI Asset Management Fondsmaeglerselskab A S’s holdings in Ameriprise Financial were worth $46,018,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the company. Whipplewood Advisors LLC increased its stake in Ameriprise Financial by 71.0% during the second quarter. Whipplewood Advisors LLC now owns 53 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 22 shares during the period. Salomon & Ludwin LLC boosted its stake in Ameriprise Financial by 115.4% in the second quarter. Salomon & Ludwin LLC now owns 56 shares of the financial services provider’s stock valued at $30,000 after acquiring an additional 30 shares in the last quarter. Winnow Wealth LLC acquired a new stake in shares of Ameriprise Financial in the second quarter valued at approximately $32,000. Heartwood Wealth Advisors LLC acquired a new stake in shares of Ameriprise Financial during the third quarter worth about $32,000. Finally, WFA of San Diego LLC acquired a new stake in shares of Ameriprise Financial during the second quarter worth $36,000. 83.95% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages recently weighed in on AMP. Morgan Stanley upped their price objective on Ameriprise Financial from $484.00 to $485.00 and gave the stock an “underweight” rating in a report on Monday, December 22nd. Argus decreased their target price on shares of Ameriprise Financial from $568.00 to $554.00 and set a “buy” rating on the stock in a research report on Thursday, November 13th. Jefferies Financial Group increased their price target on shares of Ameriprise Financial from $600.00 to $620.00 and gave the stock a “buy” rating in a research note on Monday. Royal Bank Of Canada reissued an “outperform” rating and issued a $605.00 price objective (up previously from $580.00) on shares of Ameriprise Financial in a research report on Monday. Finally, Keefe, Bruyette & Woods decreased their price objective on shares of Ameriprise Financial from $550.00 to $530.00 and set a “market perform” rating for the company in a research report on Monday, November 3rd. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $555.67.

Insiders Place Their Bets

In other Ameriprise Financial news, Director Robert Francis Sharpe, Jr. sold 1,500 shares of the stock in a transaction that occurred on Friday, November 21st. The shares were sold at an average price of $450.94, for a total value of $676,410.00. Following the completion of the sale, the director owned 7,500 shares in the company, valued at $3,382,050. This represents a 16.67% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.73% of the company’s stock.

Ameriprise Financial Stock Performance

AMP stock opened at $544.61 on Thursday. Ameriprise Financial, Inc. has a fifty-two week low of $396.14 and a fifty-two week high of $552.43. The company has a market capitalization of $50.60 billion, a P/E ratio of 14.98, a PEG ratio of 1.24 and a beta of 1.26. The company has a 50-day simple moving average of $496.25 and a 200 day simple moving average of $491.95. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 0.86.

Ameriprise Financial (NYSE:AMP) last announced its quarterly earnings data on Thursday, January 29th. The financial services provider reported $10.83 earnings per share for the quarter, beating the consensus estimate of $10.33 by $0.50. The business had revenue of $4.90 billion during the quarter, compared to analyst estimates of $4.75 billion. Ameriprise Financial had a return on equity of 63.04% and a net margin of 19.28%.The company’s revenue was up 10.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $9.54 earnings per share. Sell-side analysts predict that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current fiscal year.

Ameriprise Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 27th. Stockholders of record on Monday, February 9th will be issued a dividend of $1.60 per share. The ex-dividend date is Monday, February 9th. This represents a $6.40 dividend on an annualized basis and a dividend yield of 1.2%. Ameriprise Financial’s payout ratio is currently 17.60%.

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.