Tokio Marine Asset Management Co. Ltd. Decreases Stake in Ameriprise Financial, Inc. (NYSE:AMP)

Key Points

• Tokio Marine Asset Management Co. Ltd. reduced its stake in Ameriprise Financial by 11.5%, now holding 26,659 shares valued at approximately $12.9 million.
• Several hedge funds are adjusting their positions, with 83.95% of Ameriprise Financial's stock owned by institutional investors.
• Ameriprise Financial reported $9.11 EPS for the last quarter, exceeding analyst expectations, and announced a $4.50 billion share buyback program.

Tokio Marine Asset Management Co. Ltd. reduced its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 11.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 26,659 shares of the financial services provider's stock after selling 3,462 shares during the period. Tokio Marine Asset Management Co. Ltd.'s holdings in Ameriprise Financial were worth $12,906,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the business. Forum Financial Management LP grew its holdings in shares of Ameriprise Financial by 1.4% in the fourth quarter. Forum Financial Management LP now owns 1,484 shares of the financial services provider's stock worth $790,000 after purchasing an additional 21 shares during the last quarter. Pinnacle Associates Ltd. lifted its stake in Ameriprise Financial by 1.6% in the first 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 during the period. Pinnacle Wealth Management Advisory Group LLC lifted its stake in Ameriprise Financial by 3.0% in the first quarter. Pinnacle Wealth Management Advisory Group LLC now owns 712 shares of the financial services provider's stock worth $345,000 after acquiring an additional 21 shares during the period. Argent Trust Co lifted its stake in Ameriprise Financial by 1.3% in the first quarter. Argent Trust Co now owns 1,698 shares of the financial services provider's stock worth $822,000 after acquiring an additional 21 shares during the period. Finally, Ritholtz Wealth Management lifted its stake in Ameriprise Financial by 1.3% in the first quarter. Ritholtz Wealth Management now owns 1,761 shares of the financial services provider's stock worth $852,000 after acquiring an additional 22 shares during the period. 83.95% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Raymond James Financial increased their price target on shares of Ameriprise Financial from $518.00 to $582.00 and gave the company a "strong-buy" rating in a research report on Friday, July 25th. William Blair lowered shares of Ameriprise Financial from an "outperform" rating to a "market perform" rating in a research report on Friday, July 25th. Morgan Stanley lowered shares of Ameriprise Financial from an "equal weight" rating to an "underweight" rating and increased their price target for the company from $462.00 to $530.00 in a research report on Tuesday, July 15th. Wall Street Zen raised shares of Ameriprise Financial from a "sell" rating to a "hold" rating in a research report on Friday, May 30th. Finally, Keefe, Bruyette & Woods increased their price objective on shares of Ameriprise Financial from $520.00 to $550.00 and gave the company a "market perform" rating in a research report on Wednesday, July 9th. Two analysts have rated the stock with a sell rating, five have issued a hold rating, one has given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $534.71.

Ameriprise Financial Stock Performance

NYSE:AMP traded down $10.94 during midday trading on Friday, hitting $502.75. The company's stock had a trading volume of 424,794 shares, compared to its average volume of 435,926. Ameriprise Financial, Inc. has a fifty-two week low of $396.14 and a fifty-two week high of $582.05. The firm's 50 day moving average is $521.74 and its 200-day moving average is $507.19. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.62 and a quick ratio of 0.62. The firm has a market cap of $47.40 billion, a P/E ratio of 15.64, a P/E/G ratio of 1.07 and a beta of 1.24.

Ameriprise Financial (NYSE:AMP - Get Free Report) last issued its quarterly earnings results on Thursday, July 24th. The financial services provider reported $9.11 earnings per share for the quarter, topping the consensus estimate of $9.00 by $0.11. Ameriprise Financial had a net margin of 18.30% and a return on equity of 65.90%. The company had revenue of $4.49 billion for the quarter, compared to the consensus estimate of $4.33 billion. During the same quarter in the prior year, the company earned $8.72 EPS. Ameriprise Financial's quarterly revenue was up 2.2% on a year-over-year basis. Equities analysts anticipate that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current fiscal year.

Ameriprise Financial announced that its Board of Directors has approved a share repurchase program on Thursday, April 24th that permits the company to buyback $4.50 billion in outstanding shares. This buyback authorization permits the financial services provider to reacquire up to 9.9% of its shares through open market purchases. Shares buyback programs are generally a sign that the company's board of directors believes its shares are undervalued.

Ameriprise Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 18th. Stockholders of record on Monday, August 4th will be paid a dividend of $1.60 per share. The ex-dividend date of this dividend is Monday, August 4th. This represents a $6.40 dividend on an annualized basis and a dividend yield of 1.3%. Ameriprise Financial's dividend payout ratio (DPR) is presently 19.91%.

Ameriprise Financial Company 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.