58,572 Ameriprise Financial, Inc. $AMP Shares Bought by Danske Bank A S

Danske Bank A S boosted its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 52.8% in the third quarter, HoldingsChannel reports. The institutional investor owned 169,413 shares of the financial services provider’s stock after purchasing an additional 58,572 shares during the period. Danske Bank A S’s holdings in Ameriprise Financial were worth $83,410,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in AMP. Twin Lakes Capital Management LLC purchased a new stake in shares of Ameriprise Financial in the second quarter valued at approximately $25,000. Balance Wealth Partners LLC bought a new position in Ameriprise Financial in the third quarter worth approximately $27,000. Cassaday & Co Wealth Management LLC purchased a new position in Ameriprise Financial during the 1st quarter worth $28,000. University of Texas Texas AM Investment Management Co. purchased a new position in Ameriprise Financial during the 2nd quarter worth $28,000. Finally, Fiduciary Financial Advisors purchased a new position in Ameriprise Financial during the 2nd quarter worth $30,000. 83.95% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

AMP has been the subject of several research reports. BMO Capital Markets lowered their target price on Ameriprise Financial from $560.00 to $520.00 and set a “market perform” rating for the company in a report on Tuesday, October 6th. The Goldman Sachs Group dropped their price target on Ameriprise Financial from $562.00 to $524.00 and set a “neutral” rating on the stock in a research report on Friday, October 2nd. Bank of America lowered Ameriprise Financial from a “buy” rating to an “underperform” rating and cut their price target for the company from $570.00 to $445.00 in a research note on Monday, October 19th. Argus lifted their price objective on Ameriprise Financial from $534.00 to $590.00 and gave the company a “buy” rating in a report on Friday, July 31st. Finally, Raymond James Financial upped their price objective on shares of Ameriprise Financial from $582.00 to $638.00 and gave the stock a “strong-buy” rating in a research note on Friday, August 21st. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, five have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, Ameriprise Financial presently has an average rating of “Hold” and an average price target of $557.00.

Ameriprise Financial Stock Up 1.2%

Shares of NYSE AMP traded up $6.02 during mid-day trading on Friday, reaching $519.50. 448,008 shares of the company were exchanged, compared to its average volume of 610,517. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 1.13. The stock has a market cap of $45.10 billion, a price-to-earnings ratio of 11.69, a P/E/G ratio of 1.09 and a beta of 1.13. Ameriprise Financial, Inc. has a 1 year low of $422.37 and a 1 year high of $572.56. The firm has a 50-day moving average of $511.05 and a 200 day moving average of $493.59.

Ameriprise Financial (NYSE:AMP) last posted its quarterly earnings data on Thursday, October 29th. The financial services provider reported $11.26 EPS for the quarter, missing the consensus estimate of $11.77 by ($0.51). The firm had revenue of $5.08 billion for the quarter, compared to the consensus estimate of $5.10 billion. Ameriprise Financial had a return on equity of 69.94% and a net margin of 20.99%. The company’s revenue was up 6.8% compared to the same quarter last year. During the same quarter last year, the firm earned $9.92 EPS. On average, research analysts expect that Ameriprise Financial, Inc. will post 46.43 earnings per share for the current year.

Ameriprise Financial declared that its Board of Directors has initiated a share buyback program on Tuesday, September 29th that permits the company to repurchase $5.50 billion in outstanding shares. This repurchase authorization permits the financial services provider to repurchase up to 12.3% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s leadership believes its stock is undervalued.

Ameriprise Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 27th. Shareholders of record on Monday, November 9th will be paid a dividend of $1.70 per share. The ex-dividend date is Monday, November 9th. This represents a $6.80 dividend on an annualized basis and a yield of 1.3%. Ameriprise Financial’s dividend payout ratio is presently 15.30%.

Ameriprise Financial Profile

Ameriprise Financial is a financial services company focused on helping individuals and institutions plan for and manage their finances. Its offerings include financial planning and investment advice, brokerage services, asset management, insurance and annuity products. The company traces its roots to Investors Syndicate, founded in Minneapolis in 1894. It became an independent public company in 2005 after separating from American Express, and remains headquartered in Minneapolis. Ameriprise serves clients primarily in the United States through its network of financial advisors.