Danske Bank A S Grows Holdings in Ameriprise Financial, Inc. $AMP

Key Points

• Danske Bank A/S boosted its stake in Ameriprise by 47.2% in Q4, owning 88,736 shares (about 0.10% of the company) valued at roughly $43.51 million.
• Ameriprise beat earnings this quarter with EPS of $11.26 versus consensus $10.21, while revenue was $4.77 billion (slightly below estimates); the firm reported a ROE of 62.88% and a net margin of 20.57%.
• Dividend raised: the company increased its quarterly payout to $1.70 (from $1.60), payable May 22 with an ex-dividend date of May 4, representing a $6.80 annualized dividend and a ~1.5% yield.

Danske Bank A S raised its stake in Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 47.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 88,736 shares of the financial services provider's stock after buying an additional 28,441 shares during the period. Danske Bank A S owned about 0.10% of Ameriprise Financial worth $43,511,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. AE Wealth Management LLC boosted its holdings in 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 worth $1,946,000 after buying an additional 2,022 shares during the period. National Pension Service raised its holdings in Ameriprise Financial by 4.6% during the third quarter. National Pension Service now owns 152,980 shares of the financial services provider's stock valued at $75,151,000 after acquiring an additional 6,724 shares during the period. Optimize Financial Inc purchased a new position in shares of Ameriprise Financial in the third quarter valued at about $453,000. Arjuna Capital boosted its stake in shares of Ameriprise Financial by 14.6% in the third quarter. Arjuna Capital now owns 12,613 shares of the financial services provider's stock worth $6,196,000 after acquiring an additional 1,610 shares during the period. Finally, Candriam S.C.A. boosted its stake in shares of Ameriprise Financial by 83.9% in the third quarter. Candriam S.C.A. now owns 63,839 shares of the financial services provider's stock worth $31,361,000 after acquiring an additional 29,116 shares during the period. 83.95% of the stock is owned by institutional investors.

Ameriprise Financial Price Performance

NYSE:AMP opened at $467.24 on Friday. The business's 50-day moving average is $454.79 and its 200 day moving average is $474.20. Ameriprise Financial, Inc. has a 12 month low of $422.37 and a 12 month high of $550.18. The company has a market capitalization of $42.60 billion, a P/E ratio of 11.62, a P/E/G ratio of 1.15 and a beta of 1.20. The company has a current ratio of 0.66, a quick ratio of 0.68 and a debt-to-equity ratio of 0.90.

Ameriprise Financial (NYSE:AMP - Get Free Report) last released its quarterly earnings data on Thursday, April 23rd. The financial services provider reported $11.26 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $10.21 by $1.05. The business had revenue of $4.77 billion for the quarter, compared to the consensus estimate of $4.82 billion. Ameriprise Financial had a return on equity of 62.88% and a net margin of 20.57%.The company's revenue was up 9.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $9.50 EPS. On average, equities research analysts forecast that Ameriprise Financial, Inc. will post 41.39 earnings per share for the current fiscal year.

Ameriprise Financial Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 22nd. Investors of record on Monday, May 4th will be given a $1.70 dividend. This is a boost from Ameriprise Financial's previous quarterly dividend of $1.60. This represents a $6.80 annualized dividend and a yield of 1.5%. The ex-dividend date is Monday, May 4th. Ameriprise Financial's dividend payout ratio (DPR) is presently 15.92%.

Insider Activity at Ameriprise Financial

In other news, insider Gumer Alvero sold 4,658 shares of the business's stock in a transaction dated Monday, February 9th. The shares were sold at an average price of $542.88, for a total value of $2,528,735.04. Following the sale, the insider directly owned 4,621 shares in the company, valued at $2,508,648.48. The trade was a 50.20% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Walter Stanley Berman sold 7,000 shares of the company's stock in a transaction dated Thursday, February 5th. The shares were sold at an average price of $544.22, for a total transaction of $3,809,540.00. Following the sale, the chief financial officer owned 5,609 shares in the company, valued at $3,052,529.98. This represents a 55.52% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 16,658 shares of company stock valued at $8,998,675 over the last 90 days. 0.60% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several analysts recently issued reports on AMP shares. BMO Capital Markets lifted their target price on Ameriprise Financial from $470.00 to $490.00 and gave the company a "market perform" rating in a research note on Friday, April 24th. Piper Sandler dropped their price target on Ameriprise Financial from $530.00 to $460.00 and set a "hold" rating for the company in a research note on Tuesday, April 7th. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $605.00 price objective (up from $580.00) on shares of Ameriprise Financial in a report on Monday, February 2nd. Keefe, Bruyette & Woods assumed coverage on shares of Ameriprise Financial in a report on Friday, April 10th. They issued a "hold" rating on the stock. Finally, Jefferies Financial Group upped their target price on shares of Ameriprise Financial from $600.00 to $620.00 and gave the stock a "buy" rating in a research report on Monday, February 2nd. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $542.00.

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.

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