Ameriprise Financial, Inc. $AMP Stock Sold by Maj Invest Holding A S

Maj Invest Holding A S lessened its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 1.3% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 259,459 shares of the financial services provider’s stock after selling 3,507 shares during the quarter. Ameriprise Financial makes up about 5.6% of Maj Invest Holding A S’s investment portfolio, making the stock its 5th biggest position. Maj Invest Holding A S’s holdings in Ameriprise Financial were worth $127,743,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. State Street Corp increased its position in shares of Ameriprise Financial by 1,279.7% during the second quarter. State Street Corp now owns 63,365,362 shares of the financial services provider’s stock worth $29,069,493,000 after purchasing an additional 58,772,775 shares in the last quarter. Envestnet Asset Management Inc. lifted its holdings in shares of Ameriprise Financial by 960.8% in the 2nd quarter. Envestnet Asset Management Inc. now owns 3,352,117 shares of the financial services provider’s stock valued at $1,537,817,000 after purchasing an additional 3,036,128 shares during the last quarter. Assenagon Asset Management S.A. boosted its position in shares of Ameriprise Financial by 980.8% in the 3rd quarter. Assenagon Asset Management S.A. now owns 2,069,740 shares of the financial services provider’s stock valued at $1,019,036,000 after purchasing an additional 1,878,244 shares during the period. Artemis Investment Management LLP acquired a new stake in shares of Ameriprise Financial in the 3rd quarter valued at about $925,211,000. Finally, Douglas Lane & Associates LLC acquired a new stake in shares of Ameriprise Financial in the 3rd quarter valued at about $575,767,000. Institutional investors and hedge funds own 83.95% of the company’s stock.

Insider Buying and Selling

In related news, EVP Deirdre Mcgraw sold 2,400 shares of the stock in a transaction on Thursday, August 6th. The stock was sold at an average price of $558.28, for a total transaction of $1,339,872.00. Following the completion of the sale, the executive vice president directly owned 3,373 shares of the company’s stock, valued at $1,883,078.44. This trade represents a 41.57% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Dawn M. Brockman sold 472 shares of Ameriprise Financial stock in a transaction on Monday, August 10th. The shares were sold at an average price of $558.93, for a total transaction of $263,814.96. Following the completion of the transaction, the senior vice president owned 713 shares in the company, valued at approximately $398,517.09. This trade represents a 39.83% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 0.60% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently issued reports on AMP. Evercore dropped their price target on Ameriprise Financial from $625.00 to $623.00 in a research note on Friday, July 24th. Keefe, Bruyette & Woods boosted their price objective on Ameriprise Financial from $515.00 to $545.00 and gave the company a “market perform” rating in a research note on Friday, July 24th. Zacks Research downgraded Ameriprise Financial from a “strong-buy” rating to a “hold” rating in a report on Monday, September 21st. Raymond James Financial increased their price objective on Ameriprise Financial from $582.00 to $638.00 and gave the company a “strong-buy” rating in a report on Friday, August 21st. Finally, Argus raised their target price on shares of Ameriprise Financial from $534.00 to $590.00 and gave the stock a “buy” rating in a research report on Friday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $557.00.

Ameriprise Financial Stock Down 1.0%

Ameriprise Financial stock opened at $487.86 on Thursday. Ameriprise Financial, Inc. has a twelve month low of $422.37 and a twelve month high of $572.56. The stock has a 50 day moving average of $521.93 and a two-hundred day moving average of $493.12. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.99. The stock has a market capitalization of $43.86 billion, a price-to-earnings ratio of 11.77, a PEG ratio of 1.06 and a beta of 1.16.

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

Ameriprise Financial Profile

Ameriprise Financial, Inc (NYSE:AMP) is a diversified financial services company that provides advice, wealth management, asset management, insurance and retirement solutions. Through its network of financial advisors and digital platforms, the company serves individuals, families, businesses and institutions with financial planning, investment management and related services.

Its products and services include brokerage and advisory accounts, mutual funds and exchange-traded funds, retirement plans, annuities, life and long-term care insurance, banking services and financial planning.