SEB Asset Management AB Invests $9.73 Million in Ameriprise Financial, Inc. $AMP

SEB Asset Management AB bought a new stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 21,893 shares of the financial services provider’s stock, valued at approximately $9,729,000.

Several other hedge funds have also recently added to or reduced their stakes in the business. AIA Group Ltd increased its holdings in shares of Ameriprise Financial by 22.5% in the first quarter. AIA Group Ltd now owns 3,300 shares of the financial services provider’s stock valued at $1,467,000 after buying an additional 607 shares in the last quarter. Mediolanum International Funds Ltd lifted its position in shares of Ameriprise Financial by 1.6% during the 1st quarter. Mediolanum International Funds Ltd now owns 60,139 shares of the financial services provider’s stock valued at $26,367,000 after acquiring an additional 945 shares during the last quarter. Spartan Wealth Advisory Services LLC bought a new stake in shares of Ameriprise Financial during the 1st quarter worth $2,089,000. WealthTrust Asset Management LLC boosted its stake in shares of Ameriprise Financial by 50.8% during the 1st quarter. WealthTrust Asset Management LLC now owns 2,212 shares of the financial services provider’s stock worth $983,000 after acquiring an additional 745 shares in the last quarter. Finally, Ascent Wealth Partners LLC grew its holdings in shares of Ameriprise Financial by 3.2% in the 1st quarter. Ascent Wealth Partners LLC now owns 23,224 shares of the financial services provider’s stock worth $10,321,000 after acquiring an additional 712 shares during the last quarter. Institutional investors and hedge funds own 83.95% of the company’s stock.

Insider Buying and Selling

In other Ameriprise Financial news, EVP Gerard P. Smyth sold 6,255 shares of Ameriprise Financial stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $472.52, for a total transaction of $2,955,612.60. Following the completion of the sale, the executive vice president owned 6,103 shares of the company’s stock, valued at $2,883,789.56. This trade represents a 50.61% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Robert Francis Sharpe, Jr. sold 1,200 shares of the business’s stock in a transaction on Friday, May 8th. The shares were sold at an average price of $465.83, for a total transaction 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 ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.60% of the stock is owned by corporate insiders.

Ameriprise Financial Trading Up 0.4%

NYSE:AMP opened at $528.56 on Wednesday. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.66 and a quick ratio of 0.66. Ameriprise Financial, Inc. has a fifty-two week low of $422.37 and a fifty-two week high of $550.18. The stock’s 50-day moving average is $472.87 and its two-hundred day moving average is $474.19. The stock has a market cap of $47.52 billion, a PE ratio of 13.14, a price-to-earnings-growth ratio of 0.94 and a beta of 1.16.

Ameriprise Financial (NYSE:AMP) last posted its quarterly earnings results on Thursday, April 23rd. The financial services provider reported $11.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $10.21 by $1.05. The business had revenue of $4.77 billion during the quarter, compared to analyst estimates of $4.82 billion. Ameriprise Financial had a net margin of 20.57% and a return on equity of 62.88%. The firm’s revenue was up 9.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $9.50 earnings per share. As a group, equities research analysts forecast that Ameriprise Financial, Inc. will post 43.74 earnings per share for the current fiscal year.

Ameriprise Financial Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 22nd. Shareholders of record on Monday, May 4th were given a $1.70 dividend. This represents a $6.80 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date was Monday, May 4th. This is a positive change from Ameriprise Financial’s previous quarterly dividend of $1.60. Ameriprise Financial’s payout ratio is currently 16.91%.

Analyst Ratings Changes

AMP has been the topic of a number of recent analyst reports. Keefe, Bruyette & Woods began coverage on Ameriprise Financial in a research report on Friday, April 10th. They set a “hold” rating on the stock. Jefferies Financial Group lifted their price target on Ameriprise Financial from $636.00 to $645.00 and gave the stock a “buy” rating in a research note on Friday, July 10th. BMO Capital Markets boosted 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. Morgan Stanley upped their price objective on shares of Ameriprise Financial from $467.00 to $489.00 and gave the company an “underweight” rating in a research note on Friday, July 10th. Finally, Weiss Ratings raised shares of Ameriprise Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $553.67.

Ameriprise Financial Company 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.