Ameriprise Financial, Inc. (NYSE:AMP) Shares Acquired by Meiji Yasuda Asset Management Co Ltd.

Meiji Yasuda Asset Management Co Ltd. lifted its position in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 4.0% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 3,263 shares of the financial services provider’s stock after buying an additional 124 shares during the quarter. Meiji Yasuda Asset Management Co Ltd.’s holdings in Ameriprise Financial were worth $1,394,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Retirement Group LLC acquired a new position in Ameriprise Financial in the 1st quarter valued at about $25,000. DiNuzzo Private Wealth Inc. raised its stake in Ameriprise Financial by 268.8% in the 2nd quarter. DiNuzzo Private Wealth Inc. now owns 59 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 43 shares during the last quarter. Accordant Advisory Group Inc acquired a new position in Ameriprise Financial in the 2nd quarter valued at about $26,000. Redmont Wealth Advisors LLC acquired a new position in Ameriprise Financial in the 1st quarter valued at about $28,000. Finally, Mascoma Wealth Management LLC raised its stake in Ameriprise Financial by 153.8% in the 2nd quarter. Mascoma Wealth Management LLC now owns 66 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 40 shares during the last quarter. Institutional investors and hedge funds own 83.95% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Piper Sandler cut their target price on shares of Ameriprise Financial from $390.00 to $387.00 and set an “underweight” rating for the company in a research note on Friday, June 28th. Keefe, Bruyette & Woods lowered their price target on Ameriprise Financial from $470.00 to $460.00 and set a “market perform” rating for the company in a report on Tuesday, July 30th. UBS Group lowered their price target on Ameriprise Financial from $500.00 to $495.00 and set a “buy” rating for the company in a report on Tuesday, July 9th. Royal Bank of Canada lifted their price target on Ameriprise Financial from $487.00 to $500.00 and gave the company an “outperform” rating in a report on Tuesday, July 30th. Finally, Jefferies Financial Group lifted their price target on Ameriprise Financial from $500.00 to $504.00 and gave the company a “buy” rating in a report on Friday, June 28th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $464.33.

Insiders Place Their Bets

In other Ameriprise Financial news, VP William Davies sold 8,700 shares of the company’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $442.07, for a total value of $3,846,009.00. Following the completion of the transaction, the vice president now owns 13,199 shares in the company, valued at approximately $5,834,881.93. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.73% of the stock is owned by company insiders.

Ameriprise Financial Stock Up 2.7 %

Shares of NYSE:AMP opened at $463.73 on Friday. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.59 and a current ratio of 0.59. Ameriprise Financial, Inc. has a 1 year low of $306.63 and a 1 year high of $464.47. The stock has a market capitalization of $46.06 billion, a P/E ratio of 15.78, a PEG ratio of 0.75 and a beta of 1.35. The stock has a 50-day simple moving average of $429.87 and a 200-day simple moving average of $428.14.

Ameriprise Financial (NYSE:AMP) last issued its earnings results on Wednesday, July 24th. The financial services provider reported $8.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $8.53 by $0.19. Ameriprise Financial had a return on equity of 73.83% and a net margin of 18.64%. The business had revenue of $4.39 billion during the quarter, compared to analysts’ expectations of $4.24 billion. During the same quarter in the previous year, the business earned $7.44 EPS. The company’s revenue for the quarter was up 9.6% on a year-over-year basis. Equities analysts forecast that Ameriprise Financial, Inc. will post 34.81 earnings per share for the current year.

Ameriprise Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 16th. Shareholders of record on Monday, August 5th were issued a $1.48 dividend. This represents a $5.92 dividend on an annualized basis and a yield of 1.28%. The ex-dividend date of this dividend was Monday, August 5th. Ameriprise Financial’s dividend payout ratio is presently 20.15%.

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.