Meiji Yasuda Asset Management Co Ltd. Makes New $2.92 Million Investment in Ameriprise Financial, Inc. $AMP

Meiji Yasuda Asset Management Co Ltd. bought a new position in Ameriprise Financial, Inc. (NYSE:AMP) during the second quarter, Holdings Channel.com reports. The firm bought 6,369 shares of the financial services provider’s stock, valued at approximately $2,922,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. SouthState Bank Corp increased its position in shares of Ameriprise Financial by 78.6% during the fourth quarter. SouthState Bank Corp now owns 50 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 22 shares during the last quarter. Cassaday & Co Wealth Management LLC bought a new stake in Ameriprise Financial during the first quarter worth $28,000. University of Texas Texas AM Investment Management Co. purchased a new position in Ameriprise Financial in the second quarter worth $28,000. Ares Financial Consulting LLC purchased a new position in Ameriprise Financial in the fourth quarter worth $32,000. Finally, Prosperity Bancshares Inc bought a new position in Ameriprise Financial in the 4th quarter valued at $33,000. Hedge funds and other institutional investors own 83.95% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on AMP shares. Jefferies Financial Group raised their target price on Ameriprise Financial from $636.00 to $645.00 and gave the company a “buy” rating in a research report on Friday, July 10th. Piper Sandler boosted their price target on shares of Ameriprise Financial from $471.00 to $518.00 and gave the stock a “neutral” rating in a report on Monday, July 13th. Keefe, Bruyette & Woods increased their price target on shares of Ameriprise Financial from $515.00 to $545.00 and gave the company a “market perform” rating in a research report on Friday, July 24th. Weiss Ratings upgraded shares of Ameriprise Financial from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, July 17th. Finally, Morgan Stanley lifted their price objective on shares of Ameriprise Financial from $467.00 to $489.00 and gave the stock an “underweight” rating in a research report on Friday, July 10th. Two equities research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $555.33.

Insider Buying and Selling at Ameriprise Financial

In other news, SVP Dawn M. Brockman sold 472 shares of Ameriprise Financial stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $558.93, for a total value of $263,814.96. Following the completion of the transaction, the senior vice president owned 713 shares in the company, valued at $398,517.09. This trade represents a 39.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider William Jerryl Williams sold 8,210 shares of the business’s stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $539.35, for a total transaction of $4,428,063.50. Following the completion of the sale, the insider directly owned 6,780 shares in the company, valued at approximately $3,656,793. This trade represents a 54.77% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 29,988 shares of company stock valued at $16,316,497 in the last three months. 0.60% of the stock is owned by company insiders.

Ameriprise Financial Stock Performance

NYSE:AMP opened at $561.00 on Tuesday. The company has a market capitalization of $50.43 billion, a P/E ratio of 13.53, a P/E/G ratio of 0.74 and a beta of 1.14. The business has a fifty day simple moving average of $519.69 and a two-hundred day simple moving average of $481.87. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.71 and a quick ratio of 0.71. Ameriprise Financial, Inc. has a 1 year low of $422.37 and a 1 year high of $572.56.

Ameriprise Financial (NYSE:AMP) last issued its quarterly earnings results on Thursday, July 23rd. The financial services provider reported $11.07 EPS for the quarter, beating analysts’ consensus estimates of $10.81 by $0.26. The firm had revenue of $4.90 billion for the quarter, compared to analysts’ expectations of $4.87 billion. Ameriprise Financial had a return on equity of 64.19% and a net margin of 20.24%.The business’s revenue for the quarter was up 11.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $9.11 EPS. On average, analysts expect that Ameriprise Financial, Inc. will post 46.27 earnings per share for the current year.

Ameriprise Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 21st. Investors of record on Monday, August 3rd were paid a $1.70 dividend. This represents a $6.80 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date was Monday, August 3rd. Ameriprise Financial’s payout ratio is currently 16.40%.

Ameriprise Financial Profile

Ameriprise Financial, Inc is a diversified financial services company headquartered in Minneapolis, Minnesota. The firm provides a range of advice-based wealth management, asset management and insurance products to individual and institutional clients. Its business model centers on delivering financial planning and investment advice through a network of financial advisors alongside proprietary product offerings designed to meet retirement, protection and accumulation needs.

Core products and services include comprehensive financial planning and advisory services, managed investment portfolios, retirement planning solutions, annuities and life insurance products.