Skandinaviska Enskilda Banken AB publ Sells 1,329 Shares of Ameriprise Financial, Inc. $AMP

Skandinaviska Enskilda Banken AB publ trimmed its holdings in Ameriprise Financial, Inc. (NYSE:AMP) by 6.7% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 18,615 shares of the financial services provider’s stock after selling 1,329 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in Ameriprise Financial were worth $9,145,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Norges Bank bought a new stake in shares of Ameriprise Financial during the second quarter valued at approximately $693,736,000. JPMorgan Chase & Co. lifted its holdings in Ameriprise Financial by 7.7% during the 2nd quarter. JPMorgan Chase & Co. now owns 6,270,995 shares of the financial services provider’s stock worth $3,347,019,000 after buying an additional 446,080 shares in the last quarter. Federated Hermes Inc. boosted its position in Ameriprise Financial by 29.3% in the 3rd quarter. Federated Hermes Inc. now owns 966,163 shares of the financial services provider’s stock valued at $474,628,000 after buying an additional 219,080 shares during the last quarter. Hsbc Holdings PLC increased its stake in shares of Ameriprise Financial by 29.8% in the 2nd quarter. Hsbc Holdings PLC now owns 491,058 shares of the financial services provider’s stock valued at $262,075,000 after buying an additional 112,784 shares during the period. Finally, Vanguard Group Inc. increased its stake in shares of Ameriprise Financial by 0.9% in the 2nd quarter. Vanguard Group Inc. now owns 12,432,261 shares of the financial services provider’s stock valued at $6,635,471,000 after buying an additional 111,386 shares during the period. Institutional investors own 83.95% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on AMP shares. Raymond James Financial set a $582.00 price target on Ameriprise Financial and gave the company a “strong-buy” rating in a report on Wednesday, February 11th. Keefe, Bruyette & Woods reduced their target price on shares of Ameriprise Financial from $550.00 to $530.00 and set a “market perform” rating on the stock in a research note on Monday, November 3rd. Piper Sandler upgraded shares of Ameriprise Financial from an “underweight” rating to a “neutral” rating and lifted their price target for the stock from $434.00 to $530.00 in a research report on Friday, January 30th. Argus dropped their price target on shares of Ameriprise Financial from $568.00 to $554.00 and set a “buy” rating for the company in a research note on Thursday, November 13th. Finally, Jefferies Financial Group raised their price objective on shares of Ameriprise Financial from $600.00 to $620.00 and gave the company a “buy” rating in a research note on Monday, February 2nd. 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 given a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $555.67.

Insiders Place Their Bets

In other Ameriprise Financial news, CEO William F. Truscott sold 5,000 shares of the business’s stock in a transaction dated Tuesday, February 10th. The stock was sold at an average price of $532.08, for a total value of $2,660,400.00. Following the completion of the transaction, the chief executive officer directly owned 12,149 shares of the company’s stock, valued at approximately $6,464,239.92. The trade was a 29.16% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Robert Francis Sharpe, Jr. sold 1,500 shares of the firm’s stock in a transaction dated Friday, November 21st. The stock was sold at an average price of $450.94, for a total value of $676,410.00. Following the sale, the director directly owned 7,500 shares in the company, valued at approximately $3,382,050. This represents a 16.67% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 18,158 shares of company stock worth $9,675,085. 0.73% of the stock is owned by corporate insiders.

Ameriprise Financial Stock Performance

Shares of AMP stock opened at $478.23 on Thursday. The stock has a market cap of $44.43 billion, a PE ratio of 13.15, a price-to-earnings-growth ratio of 1.09 and a beta of 1.26. The stock has a 50-day moving average of $501.75 and a 200-day moving average of $490.16. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.68 and a quick ratio of 0.68. Ameriprise Financial, Inc. has a one year low of $396.14 and a one year high of $550.18.

Ameriprise Financial (NYSE:AMP) last issued its quarterly earnings data on Thursday, January 29th. The financial services provider reported $10.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $10.33 by $0.50. The firm had revenue of $4.90 billion during the quarter, compared to analysts’ expectations of $4.75 billion. Ameriprise Financial had a net margin of 19.28% and a return on equity of 63.04%. The business’s revenue for the quarter was up 10.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $9.54 earnings per share. As a group, sell-side analysts expect that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current year.

Ameriprise Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 27th. Investors of record on Monday, February 9th will be given a $1.60 dividend. The ex-dividend date is Monday, February 9th. This represents a $6.40 dividend on an annualized basis and a dividend yield of 1.3%. Ameriprise Financial’s dividend payout ratio is currently 17.60%.

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.