Maj Invest Holding A S Purchases 2,389 Shares of Ameriprise Financial, Inc. $AMP

Key Points

• Maj Invest Holding A S increased its Ameriprise Financial stake by 0.8% in the fourth quarter, buying 2,389 shares and bringing its total holding to 299,416 shares worth about $146.8 million.
• Several company insiders sold shares recently, including Director Robert Francis Sharpe, Jr. and EVP Gerard P. Smyth, whose sale cut his position by more than 50%.
• Ameriprise Financial beat earnings estimates for the quarter with EPS of $11.26, and it also raised its quarterly dividend to $1.70 per share from $1.60.

Maj Invest Holding A S lifted its position in shares of Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 0.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 299,416 shares of the financial services provider's stock after purchasing an additional 2,389 shares during the period. Ameriprise Financial comprises about 6.8% of Maj Invest Holding A S's holdings, making the stock its 4th largest position. Maj Invest Holding A S owned 0.32% of Ameriprise Financial worth $146,814,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Holos Integrated Wealth LLC acquired a new position in Ameriprise Financial in the 4th quarter valued at about $30,000. Redmont Wealth Advisors LLC purchased a new stake in Ameriprise Financial in the 3rd quarter valued at approximately $32,000. Ares Financial Consulting LLC purchased a new stake in shares of Ameriprise Financial during the 4th quarter worth approximately $32,000. WFA of San Diego LLC acquired a new position in Ameriprise Financial during the second quarter worth $36,000. Finally, Activest Wealth Management raised its holdings in Ameriprise Financial by 777.8% during the fourth quarter. Activest Wealth Management now owns 79 shares of the financial services provider's stock worth $39,000 after purchasing an additional 70 shares during the last quarter. Institutional investors and hedge funds own 83.95% of the company's stock.

Insider Transactions at Ameriprise Financial

In other Ameriprise Financial news, Director Robert Francis Sharpe, Jr. sold 1,200 shares of the firm's stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $465.83, for a total value of $558,996.00. Following the transaction, the director owned 6,300 shares of the company's stock, valued at $2,934,729. This trade represents a 16.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Gerard P. Smyth sold 6,255 shares of the firm's stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $472.52, for a total transaction of $2,955,612.60. Following the completion of the transaction, the executive vice president directly owned 6,103 shares in the company, valued at $2,883,789.56. This represents a 50.61% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.60% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on AMP shares. Morgan Stanley lifted their price objective on Ameriprise Financial from $452.00 to $467.00 and gave the stock an "underweight" rating in a research report on Thursday, April 30th. Keefe, Bruyette & Woods initiated coverage on Ameriprise Financial in a research note on Friday, April 10th. They set a "hold" rating on the stock. Royal Bank Of Canada reissued an "outperform" rating and set a $605.00 price target (up from $580.00) on shares of Ameriprise Financial in a research note on Monday, February 2nd. BMO Capital Markets upped their price objective on Ameriprise Financial from $470.00 to $490.00 and gave the stock a "market perform" rating in a report on Friday, April 24th. Finally, Piper Sandler upped their price objective on Ameriprise Financial from $460.00 to $471.00 and gave the stock a "neutral" rating in a report on Monday, May 4th. One research 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 issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $543.22.

Ameriprise Financial Stock Performance

NYSE:AMP opened at $471.26 on Tuesday. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.66 and a quick ratio of 0.66. The firm has a 50-day moving average of $454.49 and a two-hundred day moving average of $473.50. The stock has a market cap of $42.37 billion, a P/E ratio of 11.72, a PEG ratio of 1.11 and a beta of 1.20. Ameriprise Financial, Inc. has a 1-year low of $422.37 and a 1-year high of $550.18.

Ameriprise Financial (NYSE:AMP - Get Free Report) last issued its quarterly earnings results on Thursday, April 23rd. The financial services provider reported $11.26 EPS for the quarter, topping the consensus estimate of $10.21 by $1.05. Ameriprise Financial had a net margin of 20.57% and a return on equity of 62.88%. The business had revenue of $4.77 billion for the quarter, compared to analysts' expectations of $4.82 billion. During the same quarter last year, the company posted $9.50 earnings per share. The company's quarterly revenue was up 9.7% compared to the same quarter last year. On average, research analysts expect that Ameriprise Financial, Inc. will post 42.63 earnings per share for the current fiscal year.

Ameriprise Financial Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 22nd. Stockholders of record on Monday, May 4th will be given a dividend of $1.70 per share. The ex-dividend date of this dividend is Monday, May 4th. This is a positive change from Ameriprise Financial's previous quarterly dividend of $1.60. This represents a $6.80 annualized dividend and a dividend yield of 1.4%. Ameriprise Financial's dividend payout ratio is 16.91%.

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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