Avanza Fonder AB Takes Position in Ameriprise Financial, Inc. (NYSE:AMP)

Avanza Fonder AB acquired a new stake in Ameriprise Financial, Inc. (NYSE:AMP - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 7,338 shares of the financial services provider's stock, valued at approximately $3,907,000.

Several other hedge funds have also made changes to their positions in AMP. JPMorgan Chase & Co. grew its position in Ameriprise Financial by 9.1% in the third quarter. JPMorgan Chase & Co. now owns 4,285,476 shares of the financial services provider's stock worth $2,013,359,000 after acquiring an additional 358,699 shares during the period. Geode Capital Management LLC grew its holdings in shares of Ameriprise Financial by 1.2% during the 3rd quarter. Geode Capital Management LLC now owns 2,609,486 shares of the financial services provider's stock worth $1,222,943,000 after purchasing an additional 31,158 shares during the period. Legal & General Group Plc increased its position in shares of Ameriprise Financial by 1.4% during the 2nd quarter. Legal & General Group Plc now owns 823,249 shares of the financial services provider's stock worth $351,685,000 after purchasing an additional 11,060 shares during the last quarter. Epoch Investment Partners Inc. raised its holdings in Ameriprise Financial by 3.9% in the 2nd quarter. Epoch Investment Partners Inc. now owns 458,565 shares of the financial services provider's stock valued at $195,894,000 after buying an additional 17,312 shares during the period. Finally, Bank of Montreal Can lifted its position in Ameriprise Financial by 1.6% in the second quarter. Bank of Montreal Can now owns 320,827 shares of the financial services provider's stock valued at $141,405,000 after buying an additional 4,968 shares during the last quarter. Hedge funds and other institutional investors own 83.95% of the company's stock.

Analyst Upgrades and Downgrades

AMP has been the subject of a number of recent analyst reports. The Goldman Sachs Group cut shares of Ameriprise Financial from a "buy" rating to a "neutral" rating and dropped their price target for the company from $485.00 to $476.00 in a research report on Thursday, September 26th. Keefe, Bruyette & Woods cut their target price on Ameriprise Financial from $565.00 to $560.00 and set a "market perform" rating on the stock in a research report on Friday, January 10th. UBS Group cut Ameriprise Financial from a "buy" rating to a "neutral" rating and decreased their price target for the stock from $580.00 to $570.00 in a research note on Monday, January 6th. Royal Bank of Canada lifted their price objective on Ameriprise Financial from $535.00 to $550.00 and gave the company an "outperform" rating in a research note on Friday, October 25th. Finally, Morgan Stanley increased their target price on Ameriprise Financial from $440.00 to $502.00 and gave the stock an "equal weight" rating in a research note on Thursday, October 17th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $494.89.

Ameriprise Financial Stock Up 0.9 %

AMP stock traded up $5.18 during mid-day trading on Friday, reaching $551.61. The company had a trading volume of 941,468 shares, compared to its average volume of 394,304. The firm has a fifty day simple moving average of $548.42 and a 200 day simple moving average of $488.98. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.65 and a current ratio of 0.65. The company has a market capitalization of $53.51 billion, a price-to-earnings ratio of 21.18, a price-to-earnings-growth ratio of 0.78 and a beta of 1.36. Ameriprise Financial, Inc. has a fifty-two week low of $369.29 and a fifty-two week high of $577.00.

Ameriprise Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Monday, November 4th were paid a $1.48 dividend. The ex-dividend date was Monday, November 4th. This represents a $5.92 dividend on an annualized basis and a yield of 1.07%. Ameriprise Financial's dividend payout ratio is currently 22.73%.

Insider Buying and Selling

In other news, insider Gumer Alvero sold 2,325 shares of the business's stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $516.05, for a total transaction of $1,199,816.25. Following the completion of the sale, the insider now owns 4,669 shares in the company, valued at approximately $2,409,437.45. The trade was a 33.24 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Walter Stanley Berman sold 8,655 shares of the stock in a transaction on Monday, November 11th. The shares were sold at an average price of $564.16, for a total transaction of $4,882,804.80. Following the completion of the transaction, the chief financial officer now directly owns 6,409 shares in the company, valued at $3,615,701.44. This trade represents a 57.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 21,715 shares of company stock worth $11,983,436 over the last 90 days. 0.96% of the stock is owned by insiders.

Ameriprise Financial Company 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.