BI Asset Management Fondsmaeglerselskab A S Buys 2,567 Shares of Ameriprise Financial, Inc. $AMP

BI Asset Management Fondsmaeglerselskab A S lifted its position in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 2.8% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 93,676 shares of the financial services provider’s stock after buying an additional 2,567 shares during the period. BI Asset Management Fondsmaeglerselskab A S owned about 0.10% of Ameriprise Financial worth $46,018,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the stock. AE Wealth Management LLC lifted its stake in shares of Ameriprise Financial by 104.2% in the 3rd quarter. AE Wealth Management LLC now owns 3,962 shares of the financial services provider’s stock valued at $1,946,000 after purchasing an additional 2,022 shares during the period. National Pension Service boosted its stake in Ameriprise Financial by 4.6% during 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. Arjuna Capital raised its position in Ameriprise Financial by 14.6% in the 3rd quarter. Arjuna Capital now owns 12,613 shares of the financial services provider’s stock worth $6,196,000 after buying an additional 1,610 shares during the last quarter. Mediolanum International Funds Ltd boosted its holdings in Ameriprise Financial by 23.0% in the third quarter. Mediolanum International Funds Ltd now owns 47,758 shares of the financial services provider’s stock worth $23,859,000 after purchasing an additional 8,927 shares during the last quarter. Finally, First Horizon Corp purchased a new stake in Ameriprise Financial during the third quarter valued at $1,454,000. Hedge funds and other institutional investors own 83.95% of the company’s stock.

Insider Buying and Selling at Ameriprise Financial

In related news, Director Robert Francis Sharpe, Jr. sold 1,500 shares of the firm’s stock in a transaction dated Friday, November 21st. The shares were sold at an average price of $450.94, for a total value of $676,410.00. Following the transaction, the director directly owned 7,500 shares of the company’s stock, valued at approximately $3,382,050. This trade represents a 16.67% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.73% of the stock is currently owned by company insiders.

Ameriprise Financial Stock Up 2.7%

Ameriprise Financial stock opened at $544.61 on Thursday. The company has a market cap of $50.60 billion, a PE ratio of 14.98, a PEG ratio of 1.24 and a beta of 1.26. Ameriprise Financial, Inc. has a fifty-two week low of $396.14 and a fifty-two week high of $552.43. The business’s 50-day simple moving average is $496.25 and its two-hundred day simple moving average is $491.95. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.68 and a current ratio of 0.68.

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

Ameriprise Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 27th. Shareholders of record on Monday, February 9th will be given 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 yield of 1.2%. Ameriprise Financial’s dividend payout ratio is currently 17.60%.

Analyst Upgrades and Downgrades

AMP has been the subject of several analyst reports. Jefferies Financial Group upped their price objective on Ameriprise Financial from $600.00 to $620.00 and gave the stock a “buy” rating in a research note on Monday. Piper Sandler upgraded Ameriprise Financial from an “underweight” rating to a “neutral” rating and raised their price target for the company from $434.00 to $530.00 in a report on Friday, January 30th. Keefe, Bruyette & Woods decreased their price objective on Ameriprise Financial from $550.00 to $530.00 and set a “market perform” rating on the stock in a research report on Monday, November 3rd. Morgan Stanley raised their price objective on shares of Ameriprise Financial from $484.00 to $485.00 and gave the stock an “underweight” rating in a research note on Monday, December 22nd. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Ameriprise Financial in a research note on Monday, December 29th. 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 stock. According to data from MarketBeat.com, Ameriprise Financial presently has a consensus rating of “Hold” and an average price target of $555.67.

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.