3,605 Shares in Ameriprise Financial, Inc. $AMP Acquired by Daiichi Life Insurance Co. Ltd.

Daiichi Life Insurance Co. Ltd. bought a new position in Ameriprise Financial, Inc. (NYSE:AMP) in the second quarter, HoldingsChannel.com reports. The fund bought 3,605 shares of the financial services provider’s stock, valued at approximately $1,654,000.

A number of other hedge funds have also added to or reduced their stakes in AMP. Essex Financial Services Inc. boosted its stake in shares of Ameriprise Financial by 2.4% in the 4th quarter. Essex Financial Services Inc. now owns 904 shares of the financial services provider’s stock worth $443,000 after buying an additional 21 shares during the last quarter. SouthState Bank Corp grew its holdings in shares of Ameriprise Financial by 78.6% in the fourth quarter. SouthState Bank Corp now owns 50 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 22 shares during the period. Geneos Wealth Management Inc. grew its holdings in shares of Ameriprise Financial by 5.4% in the second quarter. Geneos Wealth Management Inc. now owns 447 shares of the financial services provider’s stock worth $239,000 after acquiring an additional 23 shares during the period. Optimist Retirement Group LLC increased its position in Ameriprise Financial by 3.7% during the third quarter. Optimist Retirement Group LLC now owns 638 shares of the financial services provider’s stock valued at $313,000 after acquiring an additional 23 shares during the last quarter. Finally, Boyd Watterson Asset Management LLC OH increased its position in Ameriprise Financial by 5.2% during the fourth quarter. Boyd Watterson Asset Management LLC OH now owns 484 shares of the financial services provider’s stock valued at $237,000 after acquiring an additional 24 shares during the last quarter. 83.95% of the stock is currently owned by hedge funds and other institutional investors.

Ameriprise Financial Stock Performance

NYSE:AMP opened at $556.56 on Monday. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.71 and a current ratio of 0.71. The stock has a 50-day simple moving average of $517.67 and a two-hundred day simple moving average of $481.65. The firm has a market capitalization of $50.03 billion, a PE ratio of 13.42, a P/E/G ratio of 0.74 and a beta of 1.14. Ameriprise Financial, Inc. has a 52-week low of $422.37 and a 52-week high of $572.56.

Ameriprise Financial (NYSE:AMP) last posted its quarterly earnings data on Thursday, July 23rd. The financial services provider reported $11.07 EPS for the quarter, topping the consensus estimate of $10.81 by $0.26. Ameriprise Financial had a return on equity of 64.19% and a net margin of 20.24%.The firm had revenue of $4.90 billion for the quarter, compared to the consensus estimate of $4.87 billion. During the same quarter last year, the company earned $9.11 earnings per share. The business’s revenue for the quarter was up 11.6% compared to the same quarter last year. Analysts forecast that Ameriprise Financial, Inc. will post 46.27 EPS for the current year.

Ameriprise Financial Announces Dividend

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

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on AMP shares. Morgan Stanley boosted their price target on Ameriprise Financial from $467.00 to $489.00 and gave the company an “underweight” rating in a research note on Friday, July 10th. Piper Sandler raised their price objective 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. Zacks Research raised shares of Ameriprise Financial from a “hold” rating to a “strong-buy” rating in a report on Monday, July 27th. Weiss Ratings raised shares of Ameriprise Financial from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, July 17th. Finally, Keefe, Bruyette & Woods increased their price target on shares of Ameriprise Financial from $515.00 to $545.00 and gave the stock a “market perform” rating in a research report on Friday, July 24th. Two equities research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Ameriprise Financial has a consensus rating of “Moderate Buy” and a consensus target price of $555.33.

Insider Activity

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

Ameriprise Financial Company 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.