Nomura Asset Management Co. Ltd. Has $22.81 Million Stock Position in Ameriprise Financial, Inc. $AMP

Nomura Asset Management Co. Ltd. boosted its stake in Ameriprise Financial, Inc. (NYSE:AMP) by 2.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 42,731 shares of the financial services provider’s stock after acquiring an additional 1,117 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in Ameriprise Financial were worth $22,807,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Trust Co. of Vermont boosted its stake in shares of Ameriprise Financial by 0.6% in the 2nd quarter. Trust Co. of Vermont now owns 3,031 shares of the financial services provider’s stock valued at $1,618,000 after purchasing an additional 19 shares during the last quarter. Plancorp LLC lifted its holdings in Ameriprise Financial by 4.8% in the first quarter. Plancorp LLC now owns 441 shares of the financial services provider’s stock valued at $213,000 after buying an additional 20 shares during the period. Old Port Advisors lifted its holdings in Ameriprise Financial by 1.5% in the second quarter. Old Port Advisors now owns 1,381 shares of the financial services provider’s stock valued at $737,000 after buying an additional 20 shares during the period. Linden Thomas Advisory Services LLC boosted its position in Ameriprise Financial by 0.5% during the second quarter. Linden Thomas Advisory Services LLC now owns 4,096 shares of the financial services provider’s stock valued at $2,186,000 after acquiring an additional 20 shares during the last quarter. Finally, Pinnacle Associates Ltd. raised its position in shares of Ameriprise Financial by 1.6% in the 1st quarter. Pinnacle Associates Ltd. now owns 1,374 shares of the financial services provider’s stock worth $665,000 after acquiring an additional 21 shares in the last quarter. Institutional investors own 83.95% of the company’s stock.

Insider Activity

In other news, EVP Heather J. Melloh sold 1,500 shares of the business’s stock in a transaction dated 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 directly owned 2,562 shares of the company’s stock, valued at $1,312,615.08. The trade was a 36.93% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.57% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages recently commented on AMP. Argus cut their target price on Ameriprise Financial from $568.00 to $554.00 and set a “buy” rating on the stock in a research report on Thursday, November 13th. Morgan Stanley cut their price target on Ameriprise Financial from $530.00 to $484.00 and set an “underweight” rating on the stock in a report on Wednesday, October 1st. William Blair downgraded shares of Ameriprise Financial from an “outperform” rating to a “market perform” rating in a research report on Friday, July 25th. Royal Bank Of Canada dropped their target price on shares of Ameriprise Financial from $601.00 to $550.00 and set an “outperform” rating on the stock in a research report on Monday, November 3rd. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Ameriprise Financial in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $533.22.

Ameriprise Financial Trading Up 0.5%

NYSE AMP opened at $442.88 on Wednesday. The company has a market cap of $41.15 billion, a price-to-earnings ratio of 13.78, a P/E/G ratio of 1.07 and a beta of 1.28. Ameriprise Financial, Inc. has a 52 week low of $396.14 and a 52 week high of $582.05. The business has a 50 day moving average price of $478.22 and a 200-day moving average price of $502.31. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 0.95.

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

Ameriprise Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 24th. Shareholders of record on Monday, November 10th will be paid 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 (DPR) is 17.55%.

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.