Ameriprise Financial, Inc. $AMP Stock Holdings Increased by Danske Bank A S

Key Points

• Danske Bank increased its Ameriprise Financial stake by 52.8% in the third quarter, ending with 169,413 shares valued at about $83.4 million. Institutional investors collectively own 83.95% of the company.
• Ameriprise reported quarterly EPS of $11.26, below the $11.77 consensus estimate, while revenue rose 6.8% year over year to $5.08 billion. The company also authorized a $5.5 billion share-repurchase program and announced a $1.70 quarterly dividend.
• Analysts have a consensus “Hold” rating and a $557 price target; recommendations range from Strong Buy to Sell.

Danske Bank A S increased its position in Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 52.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 169,413 shares of the financial services provider's stock after acquiring an additional 58,572 shares during the quarter. Danske Bank A S owned about 0.20% of Ameriprise Financial worth $83,410,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Ibex Investors LLC raised its stake in Ameriprise Financial by 4.3% during the 3rd quarter. Ibex Investors LLC now owns 3,650 shares of the financial services provider's stock valued at $1,797,000 after purchasing an additional 150 shares during the period. Diversified Trust Co boosted its stake in Ameriprise Financial by 9.4% in the 3rd quarter. Diversified Trust Co now owns 15,378 shares of the financial services provider's stock worth $7,571,000 after purchasing an additional 1,318 shares during the period. Moors & Cabot Inc. bought a new position in Ameriprise Financial in the 3rd quarter worth approximately $441,000. Valmark Advisers Inc. boosted its stake in Ameriprise Financial by 6.9% in the 3rd quarter. Valmark Advisers Inc. now owns 708 shares of the financial services provider's stock worth $349,000 after purchasing an additional 46 shares during the period. Finally, Allworth Financial LP grew its holdings in Ameriprise Financial by 1.8% during the 3rd quarter. Allworth Financial LP now owns 3,409 shares of the financial services provider's stock valued at $1,564,000 after buying an additional 60 shares in the last quarter. Institutional investors own 83.95% of the company's stock.

Analyst Ratings Changes

AMP has been the subject of a number of research reports. The Goldman Sachs Group dropped their price target on Ameriprise Financial from $562.00 to $524.00 and set a "neutral" rating for the company in a research note on Friday, October 2nd. Royal Bank Of Canada lifted their price objective on Ameriprise Financial from $560.00 to $595.00 in a research note on Friday, July 24th. Keefe, Bruyette & Woods upped their price objective on Ameriprise Financial from $515.00 to $545.00 and gave the stock a "market perform" rating in a report on Friday, July 24th. Morgan Stanley decreased their price objective on Ameriprise Financial from $489.00 to $483.00 and set an "underweight" rating on the stock in a report on Friday, October 9th. Finally, Bank of America downgraded Ameriprise Financial from a "buy" rating to an "underperform" rating and lowered their target price for the company from $570.00 to $445.00 in a research report on Monday, October 19th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, five have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, Ameriprise Financial currently has a consensus rating of "Hold" and a consensus price target of $557.00.

Ameriprise Financial Trading Up 1.2%

AMP stock traded up $6.02 during mid-day trading on Friday, reaching $519.50. 448,008 shares of the stock traded hands, compared to its average volume of 610,517. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.68 and a current ratio of 0.68. Ameriprise Financial, Inc. has a one year low of $422.37 and a one year high of $572.56. The stock has a market capitalization of $45.10 billion, a PE ratio of 11.69, a PEG ratio of 1.09 and a beta of 1.13. The business has a 50-day moving average price of $511.05 and a two-hundred day moving average price of $493.59.

Ameriprise Financial (NYSE:AMP - Get Free Report) last issued its quarterly earnings results on Thursday, October 29th. The financial services provider reported $11.26 earnings per share for the quarter, missing the consensus estimate of $11.77 by ($0.51). Ameriprise Financial had a return on equity of 69.94% and a net margin of 20.99%. The business had revenue of $5.08 billion during the quarter, compared to analysts' expectations of $5.10 billion. During the same quarter in the previous year, the company posted $9.92 earnings per share. The company's quarterly revenue was up 6.8% compared to the same quarter last year. Equities research analysts expect that Ameriprise Financial, Inc. will post 46.43 EPS for the current year.

Ameriprise Financial announced that its board has authorized a stock repurchase program on Tuesday, September 29th that allows the company to repurchase $5.50 billion in shares. This buyback authorization allows the financial services provider to reacquire up to 12.3% of its shares through open market purchases. Stock buyback programs are often a sign that the company's board believes its shares are undervalued.

Ameriprise Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 27th. Shareholders of record on Monday, November 9th will be paid a $1.70 dividend. The ex-dividend date is Monday, November 9th. This represents a $6.80 dividend on an annualized basis and a yield of 1.3%. Ameriprise Financial's dividend payout ratio (DPR) is presently 15.30%.

About Ameriprise Financial

Ameriprise Financial is a financial services company focused on helping individuals and institutions plan for and manage their finances. Its offerings include financial planning and investment advice, brokerage services, asset management, insurance and annuity products. The company traces its roots to Investors Syndicate, founded in Minneapolis in 1894. It became an independent public company in 2005 after separating from American Express, and remains headquartered in Minneapolis. Ameriprise serves clients primarily in the United States through its network of financial advisors.

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