Andra AP fonden Acquires New Stake in Ameriprise Financial, Inc. $AMP

Andra AP fonden bought a new position in shares of Ameriprise Financial, Inc. (NYSE:AMP) in the 1st quarter, HoldingsChannel.com reports. The firm bought 7,800 shares of the financial services provider’s stock, valued at approximately $3,466,000.

A number of other institutional investors have also added to or reduced their stakes in the business. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in shares of Ameriprise Financial by 5.7% during the fourth 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 buying an additional 10,782 shares during the last quarter. Pensionfund Sabic bought a new stake in shares of Ameriprise Financial in the 4th quarter valued at about $1,471,000. KBC Group NV lifted its stake in shares of Ameriprise Financial by 12.2% in the 4th quarter. KBC Group NV now owns 150,606 shares of the financial services provider’s stock valued at $73,848,000 after acquiring an additional 16,433 shares during the last quarter. National Pension Service lifted its stake in shares of Ameriprise Financial by 8.2% in the 4th quarter. National Pension Service now owns 165,543 shares of the financial services provider’s stock valued at $81,172,000 after acquiring an additional 12,563 shares during the last quarter. Finally, LSV Asset Management boosted its holdings in Ameriprise Financial by 1.3% during the 4th quarter. LSV Asset Management now owns 272,018 shares of the financial services provider’s stock valued at $133,381,000 after acquiring an additional 3,548 shares during the period. 83.95% of the stock is currently owned by institutional investors.

Ameriprise Financial Stock Down 0.3%

Shares of NYSE:AMP opened at $526.80 on Thursday. Ameriprise Financial, Inc. has a 1 year low of $422.37 and a 1 year high of $550.18. The company has a market cap of $47.36 billion, a PE ratio of 13.10, a P/E/G ratio of 0.94 and a beta of 1.16. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.66 and a quick ratio of 0.66. The stock’s 50-day moving average is $474.03 and its 200 day moving average is $474.45.

Ameriprise Financial (NYSE:AMP) last released its quarterly earnings results on Thursday, April 23rd. The financial services provider reported $11.26 EPS for the quarter, beating analysts’ consensus estimates of $10.21 by $1.05. Ameriprise Financial had a return on equity of 62.88% and a net margin of 20.57%.The business had revenue of $4.77 billion during the quarter, compared to analyst estimates of $4.82 billion. During the same quarter in the prior year, the company posted $9.50 EPS. Ameriprise Financial’s quarterly revenue was up 9.7% compared to the same quarter last year. Sell-side analysts anticipate that Ameriprise Financial, Inc. will post 43.74 EPS for the current year.

Insider Buying and Selling

In other news, EVP Gerard P. Smyth sold 6,255 shares of the business’s stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $472.52, for a total transaction of $2,955,612.60. Following the transaction, the executive vice president directly owned 6,103 shares of the company’s stock, valued at approximately $2,883,789.56. The trade was a 50.61% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Robert Francis Sharpe, Jr. sold 1,200 shares of the company’s stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $465.83, for a total value of $558,996.00. Following the transaction, the director owned 6,300 shares of the company’s stock, valued at approximately $2,934,729. This represents a 16.00% decrease in their position. The SEC filing for this sale provides additional information. 0.60% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

AMP has been the topic of several recent research reports. BMO Capital Markets raised their price target on Ameriprise Financial from $470.00 to $490.00 and gave the stock a “market perform” rating in a research report on Friday, April 24th. Keefe, Bruyette & Woods started coverage on Ameriprise Financial in a research report on Friday, April 10th. They issued a “hold” rating for the company. Weiss Ratings raised Ameriprise Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, July 17th. Morgan Stanley raised their target price on shares of Ameriprise Financial from $467.00 to $489.00 and gave the stock an “underweight” rating in a report on Friday, July 10th. Finally, Jefferies Financial Group lifted 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. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Ameriprise Financial presently has a consensus rating of “Hold” and an average target price of $553.67.

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.