Ameriprise Financial, Inc. $AMP Shares Sold by Nissay Asset Management Corp Japan ADV

Key Points

• Nissay Asset Management Corp Japan ADV reduced its stake in Ameriprise Financial by 41.2%, owning 49,088 shares valued at approximately $23.76 million after selling 34,402 shares during the first quarter.
• A total of 83.95% of Ameriprise Financial's stock is held by institutional investors and hedge funds, indicating strong institutional interest in the company.
• Ameriprise reported $9.11 EPS for the latest quarter, exceeding analysts' expectations, and declared a quarterly dividend of $1.60 per share, reflecting an annualized yield of 1.2%.

Nissay Asset Management Corp Japan ADV decreased its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 41.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 49,088 shares of the financial services provider's stock after selling 34,402 shares during the period. Nissay Asset Management Corp Japan ADV owned about 0.05% of Ameriprise Financial worth $23,764,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in AMP. GAMMA Investing LLC increased its stake in Ameriprise Financial by 49,248.9% during the first quarter. GAMMA Investing LLC now owns 2,114,108 shares of the financial services provider's stock valued at $1,023,461,000 after purchasing an additional 2,109,824 shares during the last quarter. JPMorgan Chase & Co. grew its position in shares of Ameriprise Financial by 21.3% during the first quarter. JPMorgan Chase & Co. now owns 5,824,915 shares of the financial services provider's stock worth $2,819,900,000 after acquiring an additional 1,023,002 shares during the last quarter. Nuveen LLC bought a new position in shares of Ameriprise Financial during the first quarter worth about $469,334,000. Goldman Sachs Group Inc. grew its position in shares of Ameriprise Financial by 28.7% during the first quarter. Goldman Sachs Group Inc. now owns 1,195,703 shares of the financial services provider's stock worth $578,852,000 after acquiring an additional 266,631 shares during the last quarter. Finally, AQR Capital Management LLC grew its position in shares of Ameriprise Financial by 78.6% during the first quarter. AQR Capital Management LLC now owns 430,767 shares of the financial services provider's stock worth $202,869,000 after acquiring an additional 189,525 shares during the last quarter. Institutional investors own 83.95% of the company's stock.

Insiders Place Their Bets

In other Ameriprise Financial news, 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 value of $5,032,910.81. Following the completion of the sale, the chief executive officer directly owned 11,047 shares of the company's stock, valued at approximately $5,599,613.83. This represents a 47.34% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.57% of the company's stock.

Ameriprise Financial Price Performance

AMP stock traded down $22.47 during trading on Friday, hitting $489.44. The company had a trading volume of 678,083 shares, compared to its average volume of 396,931. The firm has a market capitalization of $46.14 billion, a price-to-earnings ratio of 15.23, a P/E/G ratio of 1.04 and a beta of 1.27. The business has a 50 day moving average of $520.22 and a 200 day moving average of $503.84. Ameriprise Financial, Inc. has a fifty-two week low of $396.14 and a fifty-two week high of $582.05. 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 posted its quarterly earnings data 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. The business 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 company's quarterly revenue was up 2.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $8.72 earnings per share. As a group, research analysts predict that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current year.

Ameriprise Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 18th. Investors of record on Monday, August 4th were issued a $1.60 dividend. The ex-dividend date of this dividend 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%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on AMP shares. Morgan Stanley lowered shares of Ameriprise Financial from an "equal weight" rating to an "underweight" rating and upped their price target for the stock from $462.00 to $530.00 in a research report on Tuesday, July 15th. Piper Sandler upped their price target on shares of Ameriprise Financial from $423.00 to $434.00 and gave the stock an "underweight" rating in a research report on Thursday, July 3rd. William Blair lowered shares of Ameriprise Financial from an "outperform" rating to a "market perform" rating in a research report on Friday, July 25th. Keefe, Bruyette & Woods upped 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 report on Wednesday, July 9th. Finally, Royal Bank Of Canada upped their price target on shares of Ameriprise Financial from $595.00 to $601.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, four have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, Ameriprise Financial has an average rating of "Hold" and a consensus price target of $534.71.

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.