Meiji Yasuda Asset Management Co Ltd. bought a new stake in Ameriprise Financial, Inc. (NYSE:AMP) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 2,464 shares of the financial services provider’s stock, valued at approximately $370,000.
Several other institutional investors have also added to or reduced their stakes in the company. TRUE Private Wealth Advisors increased its stake in shares of Ameriprise Financial by 56.8% in the second quarter. TRUE Private Wealth Advisors now owns 207 shares of the financial services provider’s stock worth $31,000 after buying an additional 75 shares during the last quarter. Bartlett & Co. LLC acquired a new position in Ameriprise Financial in the first quarter worth about $25,000. Ovata Capital Management Ltd bought a new stake in Ameriprise Financial in the second quarter valued at about $36,000. Balentine LLC acquired a new stake in Ameriprise Financial during the first quarter valued at approximately $25,000. Finally, Optimum Investment Advisors lifted its holdings in Ameriprise Financial by 30.3% during the 2nd quarter. Optimum Investment Advisors now owns 318 shares of the financial services provider’s stock worth $48,000 after buying an additional 74 shares during the last quarter. Institutional investors own 84.04% of the company’s stock.
AMP has been the subject of a number of research analyst reports. UBS Group boosted their price target on Ameriprise Financial from $158.00 to $168.00 and gave the company a “buy” rating in a report on Friday, May 15th. Barclays started coverage on shares of Ameriprise Financial in a research report on Thursday, August 13th. They issued an “overweight” rating and a $195.00 price target on the stock. Piper Sandler lifted their price target on shares of Ameriprise Financial from $169.00 to $178.00 and gave the company an “overweight” rating in a report on Thursday, August 13th. Zacks Investment Research upgraded shares of Ameriprise Financial from a “hold” rating to a “buy” rating and set a $139.00 price objective on the stock in a research note on Tuesday, May 19th. Finally, Morgan Stanley lifted their target price on Ameriprise Financial from $155.00 to $163.00 and gave the company an “equal weight” rating in a research note on Thursday, August 20th. One analyst has rated the stock with a sell rating, one has given a hold rating and eleven have issued a buy rating to the company’s stock. Ameriprise Financial currently has an average rating of “Buy” and an average price target of $175.45.
Shares of NYSE AMP traded down $1.08 during midday trading on Friday, hitting $155.26. 7,067 shares of the company’s stock were exchanged, compared to its average volume of 586,475. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.84 and a quick ratio of 0.84. The stock’s 50 day moving average price is $156.65 and its 200-day moving average price is $137.12. The firm has a market cap of $19.21 billion, a P/E ratio of 8.17 and a beta of 1.78. Ameriprise Financial, Inc. has a twelve month low of $80.01 and a twelve month high of $180.85.
Ameriprise Financial (NYSE:AMP) last announced its earnings results on Wednesday, July 29th. The financial services provider reported $2.64 earnings per share for the quarter, missing the consensus estimate of $2.94 by ($0.30). Ameriprise Financial had a net margin of 20.32% and a return on equity of 34.48%. The business had revenue of $2.77 billion for the quarter, compared to the consensus estimate of $2.82 billion. During the same period in the previous year, the firm earned $4.06 EPS. The firm’s revenue was down 14.8% on a year-over-year basis. On average, analysts expect that Ameriprise Financial, Inc. will post 16.35 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, August 21st. Investors of record on Monday, August 10th were paid a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a dividend yield of 2.68%. The ex-dividend date of this dividend was Friday, August 7th. Ameriprise Financial’s dividend payout ratio is currently 25.84%.
In related news, insider John Robert Woerner sold 9,873 shares of the company’s stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $163.83, for a total value of $1,617,493.59. Following the completion of the sale, the insider now owns 54,152 shares of the company’s stock, valued at $8,871,722.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.50% of the stock is owned by insiders.
Ameriprise Financial Profile
Ameriprise Financial, Inc, through its subsidiaries, provides various financial products and services to individual and institutional clients in the United States and internationally. It operates through five segments: Advice & Wealth Management, Asset Management, Annuities, Protection, and Corporate & Other.
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