Avanza Fonder AB Makes New $3.91 Million Investment in Ameriprise Financial, Inc. (NYSE:AMP)

Avanza Fonder AB purchased a new position in shares of Ameriprise Financial, Inc. (NYSE:AMP) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 7,338 shares of the financial services provider’s stock, valued at approximately $3,907,000.

Several other institutional investors and hedge funds have also recently modified their holdings of AMP. Oakworth Capital Inc. purchased a new position in Ameriprise Financial during the third quarter worth about $31,000. Country Trust Bank increased its holdings in shares of Ameriprise Financial by 213.6% during the 3rd quarter. Country Trust Bank now owns 69 shares of the financial services provider’s stock worth $32,000 after buying an additional 47 shares during the last quarter. Peterson Financial Group Inc. purchased a new stake in shares of Ameriprise Financial during the 3rd quarter valued at approximately $45,000. Friedenthal Financial purchased a new position in Ameriprise Financial in the fourth quarter worth approximately $58,000. Finally, Trifecta Capital Advisors LLC increased its stake in Ameriprise Financial by 31.4% during the third quarter. Trifecta Capital Advisors LLC now owns 138 shares of the financial services provider’s stock worth $65,000 after acquiring an additional 33 shares during the last quarter. Institutional investors and hedge funds own 83.95% of the company’s stock.

Ameriprise Financial Stock Performance

NYSE:AMP opened at $551.61 on Friday. The company has a market cap 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. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.99. Ameriprise Financial, Inc. has a 52 week low of $369.29 and a 52 week high of $577.00. The company has a fifty day simple moving average of $548.42 and a two-hundred day simple moving average of $488.11.

Ameriprise Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Monday, November 4th were issued a dividend of $1.48 per share. The ex-dividend date of this dividend was Monday, November 4th. This represents a $5.92 annualized dividend and a yield of 1.07%. Ameriprise Financial’s dividend payout ratio (DPR) is 22.73%.

Insider Buying and Selling at Ameriprise Financial

In related news, insider Joseph Edward Sweeney sold 10,735 shares of the business’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $549.68, for a total transaction of $5,900,814.80. Following the completion of the transaction, the insider now owns 5,811 shares in the company, valued at approximately $3,194,190.48. The trade was a 64.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Walter Stanley Berman sold 8,655 shares of the firm’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $564.16, for a total value of $4,882,804.80. Following the completion of the sale, the chief financial officer now owns 6,409 shares in the company, valued at approximately $3,615,701.44. This represents a 57.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 21,715 shares of company stock valued at $11,983,436 in the last quarter. Corporate insiders own 0.73% of the company’s stock.

Analyst Upgrades and Downgrades

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

About Ameriprise Financial

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.