Ameriprise Financial, Inc. $AMP Shares Bought by Resona Asset Management Co. Ltd.

Resona Asset Management Co. Ltd. lifted its position in Ameriprise Financial, Inc. (NYSE:AMP) by 2.1% during the second quarter, Holdings Channel reports. The institutional investor owned 32,888 shares of the financial services provider’s stock after buying an additional 679 shares during the quarter. Resona Asset Management Co. Ltd.’s holdings in Ameriprise Financial were worth $17,524,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the company. Atlantic Union Bankshares Corp raised its position in Ameriprise Financial by 3.4% in the second quarter. Atlantic Union Bankshares Corp now owns 10,379 shares of the financial services provider’s stock worth $5,540,000 after acquiring an additional 339 shares in the last quarter. ROI Financial Advisors LLC grew its stake in shares of Ameriprise Financial by 11.1% in the 2nd quarter. ROI Financial Advisors LLC now owns 1,341 shares of the financial services provider’s stock worth $716,000 after purchasing an additional 134 shares during the last quarter. Ellevest Inc. raised its holdings in shares of Ameriprise Financial by 14.0% in the 2nd quarter. Ellevest Inc. now owns 1,034 shares of the financial services provider’s stock worth $552,000 after purchasing an additional 127 shares in the last quarter. Crestwood Advisors Group LLC acquired a new stake in Ameriprise Financial during the second quarter valued at approximately $217,000. Finally, J. W. Coons Advisors LLC boosted its holdings in Ameriprise Financial by 130.8% during the second quarter. J. W. Coons Advisors LLC now owns 3,714 shares of the financial services provider’s stock worth $1,982,000 after buying an additional 2,105 shares in the last quarter. Institutional investors own 83.95% of the company’s stock.

Ameriprise Financial Stock Performance

Shares of Ameriprise Financial stock opened at $461.68 on Friday. Ameriprise Financial, Inc. has a 12 month low of $396.14 and a 12 month 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 stock has a market cap of $42.89 billion, a PE ratio of 14.36, a price-to-earnings-growth ratio of 1.07 and a beta of 1.28. The business has a fifty day simple moving average of $484.77 and a 200-day simple moving average of $502.61.

Ameriprise Financial (NYSE:AMP) last posted its quarterly earnings results on Thursday, October 30th. The financial services provider reported $9.92 earnings per share for the quarter, beating the consensus estimate of $9.76 by $0.16. The firm had revenue of $4.89 billion for the quarter, compared to analyst estimates of $4.51 billion. Ameriprise Financial had a return on equity of 65.90% and a net margin of 18.30%.Ameriprise Financial’s quarterly revenue was up 9.0% on a year-over-year basis. During the same period in the previous year, the firm earned $9.02 earnings per share. On average, sell-side analysts anticipate that Ameriprise Financial, Inc. will post 38.64 EPS for the current fiscal year.

Ameriprise Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, November 24th. Stockholders of record on Monday, November 10th will be given a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend is Monday, November 10th. Ameriprise Financial’s dividend payout ratio is 17.55%.

Insider Activity at Ameriprise Financial

In other Ameriprise Financial news, EVP Heather J. Melloh sold 1,500 shares of the company’s stock in a transaction that occurred on Thursday, September 4th. The shares were sold at an average price of $512.34, for a total value of $768,510.00. Following the transaction, the executive vice president owned 2,562 shares in the company, valued at approximately $1,312,615.08. This represents a 36.93% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO William F. Truscott sold 9,929 shares of the stock in a transaction that occurred on Tuesday, August 19th. The stock was sold at an average price of $506.89, for a total transaction of $5,032,910.81. Following the completion of the sale, the chief executive officer owned 11,047 shares of the company’s stock, valued at approximately $5,599,613.83. The trade was a 47.34% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 0.73% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on AMP. 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 price target on the stock. William Blair lowered Ameriprise Financial from an “outperform” rating to a “market perform” rating in a research report on Friday, July 25th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Ameriprise Financial in a report on Wednesday, October 8th. Evercore ISI dropped their price target on Ameriprise Financial from $587.00 to $570.00 and set an “in-line” rating on the stock in a research note on Thursday, October 9th. Finally, Royal Bank Of Canada cut their price objective on Ameriprise Financial from $601.00 to $550.00 and set an “outperform” rating on the stock in a report on Monday, November 3rd. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, five have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $530.63.

Ameriprise Financial Profile

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.