Norinchukin Bank The Raises Stock Position in Ameriprise Financial, Inc. $AMP

Key Points

• Norinchukin Bank increased its stake in Ameriprise Financial by 15.3% to 5,205 shares, valuing its investment at $2.52 million as of the latest reporting period.
• Ameriprise Financial reported $9.11 EPS for the last quarter, exceeding analysts’ estimates, with quarterly revenue rising by 2.2% year-over-year to $4.49 billion.
• The firm declared a quarterly dividend of $1.60 per share, amounting to an annualized dividend of $6.40 and a yield of 1.2%.

Norinchukin Bank The raised its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 15.3% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 5,205 shares of the financial services provider's stock after purchasing an additional 689 shares during the period. Norinchukin Bank The's holdings in Ameriprise Financial were worth $2,520,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. Forum Financial Management LP raised its stake in shares of Ameriprise Financial by 1.4% during the fourth quarter. Forum Financial Management LP now owns 1,484 shares of the financial services provider's stock valued at $790,000 after acquiring an additional 21 shares during the last quarter. Pinnacle Associates Ltd. raised its stake in shares of Ameriprise Financial by 1.6% during the first quarter. Pinnacle Associates Ltd. now owns 1,374 shares of the financial services provider's stock valued at $665,000 after acquiring an additional 21 shares during the last quarter. Pinnacle Wealth Management Advisory Group LLC raised 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 buying an additional 21 shares in the last quarter. Argent Trust Co raised 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 buying an additional 21 shares in the last quarter. Finally, Ritholtz Wealth Management raised 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 buying an additional 22 shares in the last quarter. Institutional investors and hedge funds own 83.95% of the company's stock.

Insider Transactions at Ameriprise Financial

In related news, CEO William F. Truscott sold 9,929 shares of the firm's stock in a transaction that occurred on 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 sale, the chief executive officer owned 11,047 shares in the company, valued at approximately $5,599,613.83. This trade represents a 47.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.57% of the company's stock.

Ameriprise Financial Stock Up 0.4%

Shares of NYSE:AMP traded up $2.00 during trading on Wednesday, reaching $518.89. 273,477 shares of the stock traded hands, compared to its average volume of 501,324. The stock has a 50-day moving average of $521.28 and a two-hundred day moving average of $505.67. Ameriprise Financial, Inc. has a 52-week low of $396.14 and a 52-week high of $582.05. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.62 and a current ratio of 0.62. The stock has a market cap of $48.92 billion, a P/E ratio of 16.14, a price-to-earnings-growth ratio of 1.09 and a beta of 1.24.

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

Ameriprise Financial Announces Dividend

The business also recently announced 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 was Monday, August 4th. This represents a $6.40 annualized dividend and a yield of 1.2%. Ameriprise Financial's dividend payout ratio (DPR) is currently 19.91%.

Analyst Upgrades and Downgrades

AMP has been the subject of a number of research reports. Piper Sandler increased their price target on shares of Ameriprise Financial from $423.00 to $434.00 and gave the stock an "underweight" rating in a research note on Thursday, July 3rd. William Blair downgraded shares of Ameriprise Financial from an "outperform" rating to a "market perform" rating in a research note on Friday, July 25th. Raymond James Financial increased their price target on shares of Ameriprise Financial from $518.00 to $582.00 and gave the stock a "strong-buy" rating in a research note on Friday, July 25th. Royal Bank Of Canada increased their price target on shares of Ameriprise Financial from $595.00 to $601.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 30th. Finally, Wall Street Zen raised shares of Ameriprise Financial from a "sell" rating to a "hold" rating in a research note on Friday, May 30th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $534.71.

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.