Meiji Yasuda Asset Management Co Ltd. Sells 980 Shares of Ameriprise Financial, Inc. $AMP

Key Points

• Meiji Yasuda Asset Management Co Ltd. has significantly reduced its holdings in Ameriprise Financial by 39.6%, now owning 1,493 shares worth $723,000.
• Several institutional investors have increased their stakes in Ameriprise Financial, including GAMMA Investing LLC, which raised its position by a staggering 49,248.9%.
• Ameriprise Financial's stock currently has a consensus rating of "Hold" among analysts, with an average price target of $534.71.

Meiji Yasuda Asset Management Co Ltd. trimmed its position in shares of Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 39.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,493 shares of the financial services provider's stock after selling 980 shares during the quarter. Meiji Yasuda Asset Management Co Ltd.'s holdings in Ameriprise Financial were worth $723,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of AMP. UniSuper Management Pty Ltd raised its holdings in shares of Ameriprise Financial by 5.2% in the first quarter. UniSuper Management Pty Ltd now owns 8,031 shares of the financial services provider's stock valued at $3,888,000 after buying an additional 394 shares during the last quarter. Plancorp LLC lifted its position in shares of Ameriprise Financial by 4.8% during the first quarter. Plancorp LLC now owns 441 shares of the financial services provider's stock worth $213,000 after purchasing an additional 20 shares in the last quarter. NewEdge Advisors LLC grew its stake in shares of Ameriprise Financial by 0.4% during the first quarter. NewEdge Advisors LLC now owns 13,745 shares of the financial services provider's stock valued at $6,654,000 after purchasing an additional 48 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Ameriprise Financial by 5.7% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,207 shares of the financial services provider's stock valued at $5,425,000 after purchasing an additional 606 shares during the last quarter. Finally, Integrated Wealth Concepts LLC increased its holdings in shares of Ameriprise Financial by 2.7% in the first quarter. Integrated Wealth Concepts LLC now owns 2,867 shares of the financial services provider's stock valued at $1,388,000 after purchasing an additional 76 shares in the last quarter. Institutional investors own 83.95% of the company's stock.

Wall Street Analyst Weigh In

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

Ameriprise Financial Trading Down 0.8%

Shares of NYSE:AMP traded down $3.82 during mid-day trading on Friday, reaching $497.15. The stock had a trading volume of 302,141 shares, compared to its average volume of 401,374. The firm has a 50 day simple moving average of $515.73 and a two-hundred day simple moving average of $502.89. Ameriprise Financial, Inc. has a twelve month low of $396.14 and a twelve month high of $582.05. The firm has a market cap of $46.87 billion, a PE ratio of 15.47, a price-to-earnings-growth ratio of 1.07 and a beta of 1.27. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 0.95.

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

Ameriprise Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, August 18th. Investors of record on Monday, August 4th were issued a dividend of $1.60 per share. The ex-dividend date was Monday, August 4th. This represents a $6.40 annualized dividend and a yield of 1.3%. Ameriprise Financial's dividend payout ratio is presently 19.91%.

Insiders Place Their Bets

In other Ameriprise Financial news, EVP Heather J. Melloh sold 1,500 shares of the business's stock in a transaction that occurred on Thursday, September 4th. The stock was sold at an average price of $512.34, for a total transaction of $768,510.00. Following the transaction, the executive vice president owned 2,562 shares of the company's stock, valued at $1,312,615.08. The trade was a 36.93% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO William F. Truscott sold 9,929 shares of the company's stock in a transaction dated Tuesday, August 19th. The shares were sold at an average price of $506.89, for a total transaction of $5,032,910.81. Following the completion of the sale, the chief executive officer directly owned 11,047 shares in the company, valued at approximately $5,599,613.83. The trade was a 47.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.73% of the stock is currently owned by company insiders.

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.