Danske Bank A S Buys New Shares in Ameriprise Financial, Inc. $AMP

Key Points

• Danske Bank A/S acquired 107,465 Ameriprise Financial shares in the second quarter, worth approximately $49.3 million and representing a 0.12% stake. Institutional investors collectively own 83.95% of AMP.
• Ameriprise reported stronger-than-expected quarterly results, with EPS of $11.07 versus the $10.81 consensus and revenue of $4.90 billion. Revenue increased 11.6% year over year, while analysts expect full-year EPS of $46.12.
• The company declared a quarterly dividend of $1.70 per share, equal to $6.80 annually and a 1.2% yield. AMP traded near $562.89, while analysts maintained a “Moderate Buy” consensus with an average price target of $555.33.

Danske Bank A S purchased a new stake in shares of Ameriprise Financial, Inc. (NYSE:AMP - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 107,465 shares of the financial services provider's stock, valued at approximately $49,301,000. Danske Bank A S owned 0.12% of Ameriprise Financial as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. State Street Corp lifted its position in shares of Ameriprise Financial by 0.4% during the 3rd quarter. State Street Corp now owns 4,420,072 shares of the financial services provider's stock valued at $2,171,360,000 after buying an additional 18,879 shares in the last quarter. Norges Bank purchased a new stake in Ameriprise Financial in the 4th quarter worth approximately $742,438,000. Boston Partners increased its holdings in Ameriprise Financial by 1.1% in the 3rd quarter. Boston Partners now owns 1,193,048 shares of the financial services provider's stock worth $586,083,000 after acquiring an additional 13,172 shares in the last quarter. AQR Capital Management LLC raised its stake in Ameriprise Financial by 84.2% during the 4th quarter. AQR Capital Management LLC now owns 1,085,889 shares of the financial services provider's stock worth $532,455,000 after acquiring an additional 496,319 shares during the period. Finally, Dimensional Fund Advisors LP raised its stake in Ameriprise Financial by 2.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,024,758 shares of the financial services provider's stock worth $455,387,000 after acquiring an additional 19,731 shares during the period. Hedge funds and other institutional investors own 83.95% of the company's stock.

Ameriprise Financial Stock Performance

NYSE AMP opened at $562.89 on Wednesday. The stock has a market capitalization of $50.60 billion, a PE ratio of 13.58, a P/E/G ratio of 0.77 and a beta of 1.14. The business has a 50 day simple moving average of $511.57 and a two-hundred day simple moving average of $481.04. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.71 and a quick ratio of 0.71. Ameriprise Financial, Inc. has a 1-year low of $422.37 and a 1-year high of $572.56.

Ameriprise Financial (NYSE:AMP - Get Free Report) last released its quarterly earnings data on Thursday, July 23rd. The financial services provider reported $11.07 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $10.81 by $0.26. The business had revenue of $4.90 billion for the quarter, compared to the consensus estimate of $4.87 billion. Ameriprise Financial had a return on equity of 64.19% and a net margin of 20.24%.The company's revenue was up 11.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $9.11 EPS. On average, research analysts predict that Ameriprise Financial, Inc. will post 46.12 EPS for the current fiscal year.

Ameriprise Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 21st. Investors of record on Monday, August 3rd will be given a $1.70 dividend. This represents a $6.80 annualized dividend and a yield of 1.2%. The ex-dividend date is Monday, August 3rd. Ameriprise Financial's payout ratio is currently 16.40%.

Insider Buying and Selling at Ameriprise Financial

In other Ameriprise Financial news, SVP Dawn M. Brockman sold 472 shares of the stock in a transaction on Monday, August 10th. The shares were sold at an average price of $558.93, for a total transaction of $263,814.96. Following the completion of the transaction, the senior vice president owned 713 shares in the company, valued at $398,517.09. This trade represents a 39.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Walter Stanley Berman sold 11,012 shares of Ameriprise Financial stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $548.95, for a total transaction of $6,045,037.40. Following the completion of the transaction, the chief financial officer directly owned 5,609 shares of the company's stock, valued at $3,079,060.55. The trade was a 66.25% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 29,988 shares of company stock worth $16,316,497. Company insiders own 0.60% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on AMP shares. Piper Sandler upped their price target on shares of Ameriprise Financial from $471.00 to $518.00 and gave the stock a "neutral" rating in a research report on Monday, July 13th. Keefe, Bruyette & Woods raised their price objective on shares of Ameriprise Financial from $515.00 to $545.00 and gave the company a "market perform" rating in a research report on Friday, July 24th. Jefferies Financial Group raised their price objective on shares of Ameriprise Financial from $636.00 to $645.00 and gave the company a "buy" rating in a research report on Friday, July 10th. BMO Capital Markets upped their target price on shares of Ameriprise Financial from $470.00 to $490.00 and gave the stock a "market perform" rating in a report on Friday, April 24th. Finally, Zacks Research raised shares of Ameriprise Financial from a "hold" rating to a "strong-buy" rating in a report on Monday, July 27th. Two analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $555.33.

Ameriprise Financial 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.

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