Resona Asset Management Co. Ltd. lifted its holdings in Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 7.0% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 32,209 shares of the financial services provider's stock after purchasing an additional 2,105 shares during the period. Resona Asset Management Co. Ltd.'s holdings in Ameriprise Financial were worth $15,583,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in AMP. Brighton Jones LLC raised its holdings in shares of Ameriprise Financial by 6.9% in the fourth quarter. Brighton Jones LLC now owns 777 shares of the financial services provider's stock valued at $413,000 after acquiring an additional 50 shares in the last quarter. Advisors Capital Management LLC grew its holdings in Ameriprise Financial by 20.2% in the 4th quarter. Advisors Capital Management LLC now owns 911 shares of the financial services provider's stock valued at $485,000 after buying an additional 153 shares in the last quarter. Savvy Advisors Inc. acquired a new position in Ameriprise Financial during the 4th quarter worth about $221,000. SageView Advisory Group LLC acquired a new stake in Ameriprise Financial in the 4th quarter valued at about $345,000. Finally, Mariner LLC grew its stake in Ameriprise Financial by 0.4% during the 4th quarter. Mariner LLC now owns 30,689 shares of the financial services provider's stock worth $16,339,000 after buying an additional 127 shares during the last quarter. Institutional investors own 83.95% of the company's stock.
Ameriprise Financial Price Performance
AMP stock traded down $10.94 during trading on Friday, hitting $502.75. 424,794 shares of the company's stock traded hands, compared to its average volume of 435,926. The business has a fifty day simple moving average of $521.74 and a 200 day simple moving average of $507.19. The stock has a market capitalization of $47.40 billion, a price-to-earnings ratio of 15.64, a P/E/G ratio of 1.07 and a beta of 1.24. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.62 and a current ratio of 0.62. Ameriprise Financial, Inc. has a 52 week low of $396.14 and a 52 week high of $582.05.
Ameriprise Financial (NYSE:AMP - Get Free Report) last announced its quarterly earnings data on Thursday, July 24th. The financial services provider reported $9.11 earnings per share 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 company had revenue of $4.49 billion during the quarter, compared to analyst estimates of $4.33 billion. During the same quarter last year, the business posted $8.72 EPS. The firm's revenue for the quarter was up 2.2% on a year-over-year basis. As a group, research analysts expect that Ameriprise Financial, Inc. will post 38.64 EPS for the current fiscal year.
Ameriprise Financial Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 18th. Shareholders of record on Monday, August 4th will be given a dividend of $1.60 per share. The ex-dividend date is Monday, August 4th. This represents a $6.40 dividend on an annualized basis and a yield of 1.3%. Ameriprise Financial's dividend payout ratio is currently 19.91%.
Ameriprise Financial announced that its Board of Directors has initiated a share buyback plan on Thursday, April 24th that permits the company to repurchase $4.50 billion in shares. This repurchase authorization permits the financial services provider to buy up to 9.9% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company's management believes its stock is undervalued.
Wall Street Analysts Forecast Growth
Several equities research analysts have recently weighed in on AMP shares. Morgan Stanley downgraded Ameriprise Financial from an "equal weight" rating to an "underweight" rating and upped their target price for the stock from $462.00 to $530.00 in a research report on Tuesday, July 15th. Raymond James Financial lifted their price objective on Ameriprise Financial from $518.00 to $582.00 and gave the company a "strong-buy" rating in a report on Friday, July 25th. Royal Bank Of Canada lifted their target price on shares of Ameriprise Financial from $595.00 to $601.00 and gave the stock an "outperform" rating in a report on Wednesday, July 30th. William Blair cut shares of Ameriprise Financial from an "outperform" rating to a "market perform" rating in a research report on Friday, July 25th. Finally, Piper Sandler increased their target price 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. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Ameriprise Financial currently has an average rating of "Hold" and an average target price of $534.71.
Check Out Our Latest Stock Report on Ameriprise Financial
About Ameriprise Financial
(
Free Report)
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.
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