Fjarde AP Fonden Fourth Swedish National Pension Fund trimmed its position in shares of Ameriprise Financial, Inc. (NYSE:AMP – Free Report) by 12.9% in the 4th quarter, Holdings Channel.com reports. The firm owned 20,341 shares of the financial services provider’s stock after selling 3,000 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Ameriprise Financial were worth $9,974,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors have also recently made changes to their positions in the company. Candriam S.C.A. grew its stake in Ameriprise Financial by 83.9% in the 3rd quarter. Candriam S.C.A. now owns 63,839 shares of the financial services provider’s stock valued at $31,361,000 after acquiring an additional 29,116 shares during the period. Midwest Trust Co lifted its holdings in Ameriprise Financial by 2.3% in the 3rd quarter. Midwest Trust Co now owns 111,048 shares of the financial services provider’s stock valued at $54,552,000 after purchasing an additional 2,529 shares in the last quarter. Canada Post Corp Registered Pension Plan lifted its holdings in Ameriprise Financial by 275.6% in the 3rd quarter. Canada Post Corp Registered Pension Plan now owns 5,915 shares of the financial services provider’s stock valued at $2,955,000 after purchasing an additional 4,340 shares in the last quarter. NEOS Investment Management LLC lifted its holdings in Ameriprise Financial by 45.5% in the 3rd quarter. NEOS Investment Management LLC now owns 12,272 shares of the financial services provider’s stock valued at $6,029,000 after purchasing an additional 3,838 shares in the last quarter. Finally, Pensionfund Sabic purchased a new position in Ameriprise Financial in the 4th quarter valued at $1,471,000. 83.95% of the stock is owned by hedge funds and other institutional investors.
Ameriprise Financial Stock Up 0.3%
NYSE AMP opened at $455.89 on Monday. Ameriprise Financial, Inc. has a 52 week low of $422.37 and a 52 week high of $550.18. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 0.90. The business’s fifty day simple moving average is $455.93 and its 200-day simple moving average is $472.71. The firm has a market cap of $40.98 billion, a PE ratio of 11.34, a P/E/G ratio of 1.07 and a beta of 1.16.
Ameriprise Financial Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, May 22nd. Stockholders of record on Monday, May 4th were issued a dividend of $1.70 per share. The ex-dividend date was Monday, May 4th. This represents a $6.80 annualized dividend and a dividend yield of 1.5%. This is a boost from Ameriprise Financial’s previous quarterly dividend of $1.60. Ameriprise Financial’s payout ratio is presently 16.91%.
Wall Street Analyst Weigh In
A number of research analysts have weighed in on the company. Morgan Stanley raised their price objective on Ameriprise Financial from $452.00 to $467.00 and gave the company an “underweight” rating in a report on Thursday, April 30th. BMO Capital Markets raised their price objective on Ameriprise Financial from $470.00 to $490.00 and gave the company a “market perform” rating in a report on Friday, April 24th. Weiss Ratings lowered Ameriprise Financial from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, May 27th. Raymond James Financial set a $582.00 price objective on Ameriprise Financial and gave the company a “strong-buy” rating in a report on Wednesday, February 11th. Finally, Piper Sandler raised their price objective on Ameriprise Financial from $460.00 to $471.00 and gave the company a “neutral” rating in a report on Monday, May 4th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $543.22.
Get Our Latest Stock Report on AMP
Insider Buying and Selling at Ameriprise Financial
In other news, EVP Gerard P. Smyth sold 6,255 shares of Ameriprise Financial stock in a transaction on 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 transaction, the executive vice president owned 6,103 shares in the company, valued at $2,883,789.56. The trade was a 50.61% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Robert Francis Sharpe, Jr. sold 1,200 shares of Ameriprise Financial stock in a transaction on Friday, May 8th. The stock was 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 in the company, valued at approximately $2,934,729. This represents a 16.00% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.60% of the stock is owned by insiders.
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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