Resona Asset Management Co. Ltd. Lowers Stock Holdings in Ameriprise Financial, Inc. $AMP

Resona Asset Management Co. Ltd. cut its holdings in Ameriprise Financial, Inc. (NYSE:AMP) by 4.6% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 31,359 shares of the financial services provider’s stock after selling 1,529 shares during the period. Resona Asset Management Co. Ltd.’s holdings in Ameriprise Financial were worth $15,448,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the business. Vanguard Group Inc. increased its stake in Ameriprise Financial by 0.9% in the second quarter. Vanguard Group Inc. now owns 12,432,261 shares of the financial services provider’s stock valued at $6,635,471,000 after purchasing an additional 111,386 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in Ameriprise Financial by 7.7% in the 2nd quarter. JPMorgan Chase & Co. now owns 6,270,995 shares of the financial services provider’s stock valued at $3,347,019,000 after buying an additional 446,080 shares during the period. Geode Capital Management LLC increased its stake in shares of Ameriprise Financial by 1.7% during the 2nd quarter. Geode Capital Management LLC now owns 2,818,428 shares of the financial services provider’s stock valued at $1,500,115,000 after acquiring an additional 47,584 shares during the last quarter. Norges Bank purchased a new position in shares of Ameriprise Financial during the 2nd quarter worth about $693,736,000. Finally, Boston Partners lifted its holdings in shares of Ameriprise Financial by 3.1% during the 2nd quarter. Boston Partners now owns 1,179,876 shares of the financial services provider’s stock worth $629,650,000 after acquiring an additional 35,500 shares during the period. Institutional investors and hedge funds own 83.95% of the company’s stock.

Insider Transactions at Ameriprise Financial

In other news, Director Robert Francis Sharpe, Jr. sold 1,500 shares of Ameriprise Financial stock in a transaction that occurred on Friday, November 21st. The shares were sold at an average price of $450.94, for a total transaction of $676,410.00. Following the sale, the director owned 7,500 shares in the company, valued at $3,382,050. This trade represents a 16.67% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.57% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages recently commented on AMP. Morgan Stanley upped their price target on shares of Ameriprise Financial from $484.00 to $485.00 and gave the stock an “underweight” rating in a research report on Monday, December 22nd. Royal Bank Of Canada lowered their price objective on shares of Ameriprise Financial from $601.00 to $550.00 and set an “outperform” rating for the company in a research note on Monday, November 3rd. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Ameriprise Financial in a research report on Monday, December 29th. BMO Capital Markets assumed coverage on Ameriprise Financial in a report on Friday, October 3rd. They issued a “market perform” rating and a $525.00 target price on the stock. Finally, Argus dropped their price target on Ameriprise Financial from $568.00 to $554.00 and set a “buy” rating for the company in a research note on Thursday, November 13th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, four have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $528.75.

Ameriprise Financial Stock Performance

NYSE:AMP opened at $496.29 on Monday. The firm’s fifty day simple moving average is $484.70 and its 200 day simple moving average is $492.59. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 0.88. Ameriprise Financial, Inc. has a twelve month low of $396.14 and a twelve month high of $582.05. The firm has a market capitalization of $46.11 billion, a price-to-earnings ratio of 13.61, a PEG ratio of 1.28 and a beta of 1.26.

Ameriprise Financial (NYSE:AMP) last released its quarterly earnings data on Thursday, October 30th. The financial services provider reported $9.92 EPS for the quarter, beating the consensus estimate of $9.76 by $0.16. The company had revenue of $4.73 billion for the quarter, compared to analyst estimates of $4.51 billion. Ameriprise Financial had a return on equity of 64.97% and a net margin of 20.12%.The firm’s revenue was up 9.0% compared to the same quarter last year. During the same period last year, the company posted $9.02 earnings per share. As a group, equities research analysts expect that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current fiscal year.

Ameriprise Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, November 24th. Shareholders of record on Monday, November 10th were issued a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date was Monday, November 10th. Ameriprise Financial’s dividend payout ratio is currently 17.55%.

About Ameriprise Financial

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.