Maj Invest Holding A S Sells 18,986 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

Maj Invest Holding A S lessened its stake in Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 5.4% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 333,109 shares of the financial services provider's stock after selling 18,986 shares during the period. Ameriprise Financial accounts for approximately 5.8% of Maj Invest Holding A S's investment portfolio, making the stock its 6th largest holding. Maj Invest Holding A S owned about 0.35% of Ameriprise Financial worth $161,260,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in AMP. Brighton Jones LLC grew its stake in Ameriprise Financial by 6.9% during the 4th quarter. Brighton Jones LLC now owns 777 shares of the financial services provider's stock worth $413,000 after buying an additional 50 shares during the last quarter. Fisher Asset Management LLC purchased a new stake in shares of Ameriprise Financial during the fourth quarter worth about $214,000. SRS Capital Advisors Inc. grew its stake in shares of Ameriprise Financial by 40.0% during the fourth quarter. SRS Capital Advisors Inc. now owns 70 shares of the financial services provider's stock worth $37,000 after acquiring an additional 20 shares during the last quarter. Jones Financial Companies Lllp grew its stake in shares of Ameriprise Financial by 24.3% during the fourth quarter. Jones Financial Companies Lllp now owns 1,674 shares of the financial services provider's stock worth $891,000 after acquiring an additional 327 shares during the last quarter. Finally, SBI Securities Co. Ltd. purchased a new stake in shares of Ameriprise Financial during the fourth quarter worth about $43,000. Hedge funds and other institutional investors own 83.95% of the company's stock.

Analyst Upgrades and Downgrades

AMP has been the topic of several research analyst reports. Piper Sandler boosted their target price on shares of Ameriprise Financial from $423.00 to $434.00 and gave the stock an "underweight" rating in a research report on Thursday. Raymond James Financial upgraded shares of Ameriprise Financial from a "market perform" rating to a "strong-buy" rating and set a $518.00 price target on the stock in a report on Monday, April 7th. Keefe, Bruyette & Woods increased their price objective on shares of Ameriprise Financial from $510.00 to $520.00 and gave the stock a "market perform" rating in a research note on Wednesday, May 7th. Wall Street Zen upgraded shares of Ameriprise Financial from a "sell" rating to a "hold" rating in a research note on Friday, May 30th. Finally, Royal Bank Of Canada increased their price target on Ameriprise Financial from $550.00 to $565.00 and gave the stock an "outperform" rating in a research report on Tuesday, April 29th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Ameriprise Financial has a consensus rating of "Hold" and an average target price of $517.86.

Ameriprise Financial Stock Performance

AMP stock traded down $7.17 during midday trading on Monday, hitting $536.13. 455,854 shares of the stock traded hands, compared to its average volume of 497,084. The firm has a market cap of $51.05 billion, a P/E ratio of 18.22, a PEG ratio of 2.03 and a beta of 1.23. The company has a debt-to-equity ratio of 1.10, a current ratio of 0.60 and a quick ratio of 0.60. The stock's fifty day simple moving average is $509.70 and its 200-day simple moving average is $511.13. Ameriprise Financial, Inc. has a 1-year low of $385.74 and a 1-year high of $582.05.

Ameriprise Financial (NYSE:AMP - Get Free Report) last posted its earnings results on Thursday, April 24th. The financial services provider reported $9.50 EPS for the quarter, beating analysts' consensus estimates of $9.08 by $0.42. Ameriprise Financial had a return on equity of 68.93% and a net margin of 17.14%. The firm had revenue of $4.35 billion for the quarter, compared to analysts' expectations of $4.45 billion. During the same period last year, the firm earned $8.39 EPS. The company's quarterly revenue was up 3.6% on a year-over-year basis. On average, analysts expect that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current year.

Ameriprise Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, May 19th. Shareholders of record on Monday, May 5th were issued a $1.60 dividend. This is a positive change from Ameriprise Financial's previous quarterly dividend of $1.48. This represents a $6.40 annualized dividend and a yield of 1.19%. The ex-dividend date of this dividend was Monday, May 5th. Ameriprise Financial's dividend payout ratio (DPR) is presently 21.75%.

Ameriprise Financial announced that its Board of Directors has approved a stock repurchase program on Thursday, April 24th that authorizes the company to repurchase $4.50 billion in shares. This repurchase authorization authorizes the financial services provider to buy up to 9.9% of its shares through open market purchases. Shares repurchase programs are often an indication that the company's board believes its shares are undervalued.

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.