Skandinaviska Enskilda Banken AB publ Cuts Stock Holdings in Ameriprise Financial, Inc. $AMP

Skandinaviska Enskilda Banken AB publ lessened its position in Ameriprise Financial, Inc. (NYSE:AMP) by 12.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 19,944 shares of the financial services provider’s stock after selling 2,900 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in Ameriprise Financial were worth $10,645,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in AMP. Virtus Investment Advisers LLC raised its stake in Ameriprise Financial by 19.6% in the 2nd quarter. Virtus Investment Advisers LLC now owns 2,973 shares of the financial services provider’s stock valued at $1,587,000 after purchasing an additional 487 shares during the last quarter. Norges Bank purchased a new stake in shares of Ameriprise Financial during the second quarter worth $693,736,000. Level Four Advisory Services LLC raised its position in shares of Ameriprise Financial by 0.6% in the second quarter. Level Four Advisory Services LLC now owns 11,552 shares of the financial services provider’s stock valued at $6,166,000 after buying an additional 67 shares during the last quarter. Hsbc Holdings PLC raised its position in shares of Ameriprise Financial by 29.8% in the second quarter. Hsbc Holdings PLC now owns 491,058 shares of the financial services provider’s stock valued at $262,075,000 after buying an additional 112,784 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. lifted its stake in shares of Ameriprise Financial by 2.1% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 8,777 shares of the financial services provider’s stock worth $4,685,000 after buying an additional 182 shares in the last quarter. 83.95% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Robert Francis Sharpe, Jr. sold 1,500 shares of the company’s stock in a transaction that occurred on Friday, November 21st. The shares were sold at an average price of $450.94, for a total value of $676,410.00. Following the transaction, the director directly owned 7,500 shares in the company, valued at approximately $3,382,050. This represents a 16.67% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Heather J. Melloh sold 1,500 shares of Ameriprise Financial stock in a transaction that occurred on Thursday, September 4th. The shares were sold at an average price of $512.34, for a total transaction of $768,510.00. Following the completion of the sale, the executive vice president owned 2,562 shares of the company’s stock, valued at $1,312,615.08. This trade represents a 36.93% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.73% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. BMO Capital Markets began coverage on shares of Ameriprise Financial in a research note on Friday, October 3rd. They set a “market perform” rating and a $525.00 price objective for the company. Evercore ISI cut their price target on Ameriprise Financial from $587.00 to $570.00 and set an “in-line” rating for the company in a report on Thursday, October 9th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Ameriprise Financial in a research report on Friday. Morgan Stanley dropped their target price on Ameriprise Financial from $530.00 to $484.00 and set an “underweight” rating for the company in a report on Wednesday, October 1st. Finally, Keefe, Bruyette & Woods cut their target price on Ameriprise Financial from $550.00 to $530.00 and set a “market perform” rating for the company in a research note on Monday, November 3rd. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, five have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $533.22.

Ameriprise Financial Price Performance

NYSE:AMP opened at $455.74 on Friday. Ameriprise Financial, Inc. has a 52 week low of $396.14 and a 52 week high of $582.05. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 0.95. The company has a market capitalization of $42.34 billion, a P/E ratio of 14.18, a P/E/G ratio of 1.07 and a beta of 1.28. The stock’s fifty day moving average is $471.66 and its two-hundred day moving average is $499.83.

Ameriprise Financial (NYSE:AMP) last released its quarterly earnings results on Thursday, October 30th. The financial services provider reported $9.92 earnings per share for the quarter, topping analysts’ consensus estimates of $9.76 by $0.16. The business had revenue of $4.73 billion during the quarter, compared to analysts’ expectations of $4.51 billion. Ameriprise Financial had a return on equity of 65.90% and a net margin of 18.30%.The company’s revenue was up 9.0% compared to the same quarter last year. During the same period in the prior year, the business posted $9.02 EPS. Equities analysts expect that Ameriprise Financial, Inc. will post 38.64 EPS for the current year.

Ameriprise Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, November 24th. Shareholders of record on Monday, November 10th were given a dividend of $1.60 per share. The ex-dividend date was Monday, November 10th. This represents a $6.40 dividend on an annualized basis and a dividend yield of 1.4%. Ameriprise Financial’s dividend payout ratio (DPR) is currently 17.55%.

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.