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

Maj Invest Holding A S reduced its position in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 1.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 259,459 shares of the financial services provider’s stock after selling 3,507 shares during the period. Ameriprise Financial comprises about 5.6% of Maj Invest Holding A S’s holdings, making the stock its 5th largest holding. Maj Invest Holding A S owned about 0.29% of Ameriprise Financial worth $127,743,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of AMP. Laurel Wealth Advisors LLC purchased a new stake in Ameriprise Financial during the third quarter worth about $57,000. Great Lakes Retirement Inc. lifted its position in shares of Ameriprise Financial by 0.8% during the third quarter. Great Lakes Retirement Inc. now owns 7,566 shares of the financial services provider’s stock worth $3,725,000 after purchasing an additional 57 shares in the last quarter. Generali Asset Management SPA SGR lifted its position in shares of Ameriprise Financial by 2.5% during the third quarter. Generali Asset Management SPA SGR now owns 5,282 shares of the financial services provider’s stock worth $2,601,000 after purchasing an additional 131 shares in the last quarter. Latitude Advisors LLC purchased a new position in shares of Ameriprise Financial in the third quarter valued at approximately $54,000. Finally, Balance Wealth Partners LLC purchased a new position in shares of Ameriprise Financial in the third quarter valued at approximately $27,000. 83.95% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on AMP. BMO Capital Markets dropped their price objective on shares of Ameriprise Financial from $560.00 to $520.00 and set a “market perform” rating for the company in a report on Tuesday, October 6th. Piper Sandler increased their target price on shares of Ameriprise Financial from $518.00 to $561.00 in a report on Thursday, July 23rd. Keefe, Bruyette & Woods increased their target price on shares of Ameriprise Financial from $515.00 to $545.00 and gave the stock a “market perform” rating in a report on Friday, July 24th. Weiss Ratings raised shares of Ameriprise Financial from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday, September 3rd. Finally, The Goldman Sachs Group dropped their price target on shares of Ameriprise Financial from $562.00 to $524.00 and set a “neutral” rating for the company in a research note on Friday, October 2nd. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, Ameriprise Financial currently has an average rating of “Hold” and an average target price of $557.00.

Ameriprise Financial Stock Performance

Shares of Ameriprise Financial stock opened at $487.86 on Thursday. The business has a 50-day simple moving average of $521.93 and a 200-day simple moving average of $493.12. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.71 and a current ratio of 0.71. Ameriprise Financial, Inc. has a one year low of $422.37 and a one year high of $572.56. The company has a market cap of $43.86 billion, a PE ratio of 11.77, a P/E/G ratio of 1.06 and a beta of 1.16.

Ameriprise Financial announced that its Board of Directors has initiated a share buyback program on Tuesday, September 29th that allows the company to repurchase $5.50 billion in shares. This buyback authorization allows the financial services provider to repurchase up to 12.3% of its stock through open market purchases. Share buyback programs are usually a sign that the company’s board of directors believes its stock is undervalued.

Insiders Place Their Bets

In related news, EVP Deirdre Mcgraw sold 2,400 shares of the business’s stock in a transaction on Thursday, August 6th. The shares were sold at an average price of $558.28, for a total transaction of $1,339,872.00. Following the completion of the transaction, the executive vice president owned 3,373 shares in the company, valued at approximately $1,883,078.44. The trade was a 41.57% 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, SVP Dawn M. Brockman sold 472 shares of the business’s stock in a transaction on Monday, August 10th. The stock was sold at an average price of $558.93, for a total transaction of $263,814.96. Following the transaction, the senior vice president owned 713 shares of the company’s stock, valued at approximately $398,517.09. The trade was a 39.83% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.60% of the stock is currently owned by company insiders.

Ameriprise Financial Company 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.