Ameriprise Financial, Inc. $AMP Stake Increased by Fjarde AP Fonden Fourth Swedish National Pension Fund

Fjarde AP Fonden Fourth Swedish National Pension Fund increased its stake in Ameriprise Financial, Inc. (NYSE:AMP) by 16.0% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 23,941 shares of the financial services provider’s stock after buying an additional 3,300 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Ameriprise Financial were worth $12,778,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Whipplewood Advisors LLC increased its holdings in Ameriprise Financial by 71.0% in the second quarter. Whipplewood Advisors LLC now owns 53 shares of the financial services provider’s stock valued at $28,000 after buying an additional 22 shares during the last quarter. Wealth Preservation Advisors LLC bought a new stake in shares of Ameriprise Financial in the 1st quarter valued at approximately $29,000. TD Capital Management LLC increased its holdings in shares of Ameriprise Financial by 566.7% in the 1st quarter. TD Capital Management LLC now owns 60 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 51 shares during the last quarter. Salomon & Ludwin LLC increased its holdings in shares of Ameriprise Financial by 115.4% in the 2nd quarter. Salomon & Ludwin LLC now owns 56 shares of the financial services provider’s stock valued at $30,000 after acquiring an additional 30 shares during the last quarter. Finally, WPG Advisers LLC bought a new stake in shares of Ameriprise Financial in the 1st quarter valued at approximately $33,000. Institutional investors own 83.95% of the company’s stock.

Insider Activity

In other Ameriprise Financial news, CEO William F. Truscott sold 9,929 shares of the company’s stock in a transaction dated Tuesday, August 19th. The shares were sold at an average price of $506.89, for a total value of $5,032,910.81. Following the completion of the transaction, the chief executive officer owned 11,047 shares in the company, valued at approximately $5,599,613.83. This represents a 47.34% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Heather J. Melloh sold 1,500 shares of the stock in a transaction that occurred on Thursday, September 4th. The stock was sold at an average price of $512.34, for a total value of $768,510.00. Following the completion of the transaction, the executive vice president directly owned 2,562 shares of the company’s stock, valued at $1,312,615.08. This trade represents a 36.93% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.57% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

AMP has been the subject of several recent research reports. Weiss Ratings reiterated a “buy (b)” rating on shares of Ameriprise Financial in a research note on Wednesday, October 8th. Keefe, Bruyette & Woods boosted their target price on shares of Ameriprise Financial from $520.00 to $550.00 and gave the company a “market perform” rating in a research note on Wednesday, July 9th. Morgan Stanley lowered their price objective on shares of Ameriprise Financial from $530.00 to $484.00 and set an “underweight” rating for the company in a research report on Wednesday, October 1st. Raymond James Financial boosted their price objective on shares of Ameriprise Financial from $518.00 to $582.00 and gave the company a “strong-buy” rating in a research report on Friday, July 25th. Finally, BMO Capital Markets initiated coverage on shares of Ameriprise Financial in a research report on Friday, October 3rd. They set a “market perform” rating and a $525.00 price objective for the company. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, Ameriprise Financial presently has a consensus rating of “Hold” and an average target price of $539.50.

Ameriprise Financial Stock Up 0.0%

Ameriprise Financial stock opened at $484.67 on Wednesday. Ameriprise Financial, Inc. has a one year low of $396.14 and a one year high of $582.05. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.62 and a current ratio of 0.62. The firm has a market capitalization of $45.69 billion, a P/E ratio of 15.08, a P/E/G ratio of 1.08 and a beta of 1.26. The company has a 50-day simple moving average of $493.54 and a 200-day simple moving average of $503.32.

Ameriprise Financial 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.