Nordea Investment Management AB Raises Stock Holdings in Ameriprise Financial, Inc. (NYSE:AMP)

Nordea Investment Management AB grew its holdings in Ameriprise Financial, Inc. (NYSE:AMP) by 2.0% in the fourth quarter, Holdings Channel reports. The institutional investor owned 36,118 shares of the financial services provider’s stock after acquiring an additional 712 shares during the quarter. Nordea Investment Management AB’s holdings in Ameriprise Financial were worth $19,232,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in AMP. Geller Advisors LLC grew its stake in Ameriprise Financial by 2.2% in the 3rd quarter. Geller Advisors LLC now owns 878 shares of the financial services provider’s stock valued at $412,000 after acquiring an additional 19 shares during the period. Legacy Capital Wealth Partners LLC grew its position in shares of Ameriprise Financial by 2.0% in the third quarter. Legacy Capital Wealth Partners LLC now owns 1,022 shares of the financial services provider’s stock valued at $480,000 after purchasing an additional 20 shares during the period. Ledyard National Bank increased its stake in shares of Ameriprise Financial by 3.2% during the third quarter. Ledyard National Bank now owns 733 shares of the financial services provider’s stock worth $344,000 after purchasing an additional 23 shares in the last quarter. Heartland Bank & Trust Co raised its position in shares of Ameriprise Financial by 0.9% during the 2nd quarter. Heartland Bank & Trust Co now owns 2,755 shares of the financial services provider’s stock worth $1,177,000 after purchasing an additional 24 shares during the last quarter. Finally, Great Valley Advisor Group Inc. lifted its stake in Ameriprise Financial by 2.5% in the 3rd quarter. Great Valley Advisor Group Inc. now owns 999 shares of the financial services provider’s stock valued at $470,000 after buying an additional 24 shares in the last quarter. 83.95% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CFO Walter Stanley Berman sold 8,655 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief financial officer now owns 6,409 shares of the company’s stock, valued at approximately $3,615,701.44. This trade represents a 57.45 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Joseph Edward Sweeney sold 10,735 shares of Ameriprise Financial stock in a transaction that occurred 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 of the company’s stock, valued at $3,194,190.48. This trade represents a 64.88 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 21,715 shares of company stock worth $11,983,436 over the last ninety days. Corporate insiders own 0.73% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on AMP shares. Morgan Stanley boosted their price objective on Ameriprise Financial from $440.00 to $502.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 17th. UBS Group lowered Ameriprise Financial from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $580.00 to $570.00 in a report on Monday. Keefe, Bruyette & Woods upped their target price on shares of Ameriprise Financial from $475.00 to $510.00 and gave the stock a “market perform” rating in a report on Tuesday, October 29th. Royal Bank of Canada raised their price target on shares of Ameriprise Financial from $535.00 to $550.00 and gave the stock an “outperform” rating in a research note on Friday, October 25th. Finally, The Goldman Sachs Group lowered Ameriprise Financial from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $485.00 to $476.00 in a research note on Thursday, September 26th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $489.33.

Ameriprise Financial Stock Performance

NYSE AMP opened at $534.35 on Thursday. The stock has a fifty day simple moving average of $547.89 and a 200-day simple moving average of $484.46. Ameriprise Financial, Inc. has a twelve month low of $368.41 and a twelve month high of $577.00. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.99. The stock has a market cap of $51.84 billion, a PE ratio of 20.51, a P/E/G ratio of 0.96 and a beta of 1.36.

Ameriprise Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Monday, November 4th were issued a $1.48 dividend. The ex-dividend date of this dividend was Monday, November 4th. This represents a $5.92 annualized dividend and a dividend yield of 1.11%. Ameriprise Financial’s dividend payout ratio is currently 22.73%.

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.