Daiichi Life Insurance Co. Ltd. acquired a new stake in Ameriprise Financial, Inc. (NYSE:AMP - Free Report) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 3,605 shares of the financial services provider's stock, valued at approximately $1,654,000.
Other institutional investors have also modified their holdings of the company. Essex Financial Services Inc. raised its stake in Ameriprise Financial by 2.4% in the fourth quarter. Essex Financial Services Inc. now owns 904 shares of the financial services provider's stock valued at $443,000 after buying an additional 21 shares in the last quarter. SouthState Bank Corp boosted its position in shares of Ameriprise Financial by 78.6% during the 4th quarter. SouthState Bank Corp now owns 50 shares of the financial services provider's stock worth $25,000 after acquiring an additional 22 shares in the last quarter. Geneos Wealth Management Inc. boosted its position in shares of Ameriprise Financial by 5.4% during the 2nd 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 in the last quarter. Optimist Retirement Group LLC increased its holdings in shares of Ameriprise Financial by 3.7% in the 3rd 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 raised its position in shares of Ameriprise Financial by 5.2% during the 4th quarter. Boyd Watterson Asset Management LLC OH now owns 484 shares of the financial services provider's stock worth $237,000 after acquiring an additional 24 shares in the last quarter. 83.95% of the stock is owned by hedge funds and other institutional investors.
Ameriprise Financial Stock Up 0.2%
Ameriprise Financial stock opened at $556.56 on Monday. Ameriprise Financial, Inc. has a fifty-two week low of $422.37 and a fifty-two week high of $572.56. The firm has a market capitalization of $50.03 billion, a price-to-earnings ratio of 13.42, a price-to-earnings-growth ratio of 0.74 and a beta of 1.14. The stock's fifty day moving average is $517.67 and its two-hundred day moving average is $481.65. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.71 and a current ratio of 0.71.
Ameriprise Financial (NYSE:AMP - Get Free Report) last issued its earnings results on Thursday, July 23rd. The financial services provider reported $11.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $10.81 by $0.26. Ameriprise Financial had a net margin of 20.24% and a return on equity of 64.19%. The business had revenue of $4.90 billion during the quarter, compared to analysts' expectations of $4.87 billion. During the same period in the previous 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 predict that Ameriprise Financial, Inc. will post 46.27 EPS for the current fiscal year.
Ameriprise Financial Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 21st. Investors of record on Monday, August 3rd were given a $1.70 dividend. The ex-dividend date of this dividend was Monday, August 3rd. This represents a $6.80 annualized dividend and a yield of 1.2%. Ameriprise Financial's dividend payout ratio is 16.40%.
Wall Street Analysts Forecast Growth
A number of equities analysts recently issued reports on the company. Weiss Ratings raised Ameriprise Financial from a "hold (c+)" rating to a "buy (b-)" rating in a report on Friday, July 17th. 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. Jefferies Financial Group lifted their price target on shares of Ameriprise Financial from $636.00 to $645.00 and gave the stock a "buy" rating in a research note on Friday, July 10th. Keefe, Bruyette & Woods raised their price objective on Ameriprise Financial from $515.00 to $545.00 and gave the stock a "market perform" rating in a report on Friday, July 24th. Finally, Zacks Research upgraded Ameriprise Financial from a "hold" rating to a "strong-buy" rating in a research report on Monday, July 27th. Two equities research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $555.33.
Read Our Latest Analysis on Ameriprise Financial
Insiders Place Their Bets
In other Ameriprise Financial news, CFO Walter Stanley Berman sold 11,012 shares of the stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $548.95, for a total transaction of $6,045,037.40. Following the sale, the chief financial officer directly owned 5,609 shares in the company, valued at approximately $3,079,060.55. This trade represents a 66.25% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Deirdre Davey Mcgraw sold 2,400 shares of Ameriprise Financial stock in a transaction on Thursday, August 6th. The stock was sold at an average price of $558.28, for a total value of $1,339,872.00. Following the completion of the sale, the executive vice president directly owned 3,373 shares of the company's stock, valued at approximately $1,883,078.44. The trade was a 41.57% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 29,988 shares of company stock valued at $16,316,497. 0.60% of the stock is currently owned by company insiders.
Ameriprise Financial Company Profile
(
Free Report)
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.
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