Nissay Asset Management Corp Japan ADV Purchases 31,791 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

Nissay Asset Management Corp Japan ADV increased its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 61.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 83,490 shares of the financial services provider's stock after buying an additional 31,791 shares during the period. Nissay Asset Management Corp Japan ADV owned 0.09% of Ameriprise Financial worth $44,746,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. TCTC Holdings LLC acquired a new stake in shares of Ameriprise Financial in the 4th quarter valued at approximately $26,000. Whipplewood Advisors LLC acquired a new stake in shares of Ameriprise Financial during the fourth quarter worth $28,000. Rialto Wealth Management LLC acquired a new stake in shares of Ameriprise Financial during the fourth quarter worth $28,000. Wingate Wealth Advisors Inc. acquired a new position in Ameriprise Financial in the fourth quarter valued at about $30,000. Finally, Sound Income Strategies LLC acquired a new position in Ameriprise Financial in the fourth quarter valued at about $36,000. Institutional investors and hedge funds own 83.95% of the company's stock.

Insider Buying and Selling at Ameriprise Financial

In other news, insider Joseph Edward Sweeney sold 4,636 shares of the company's stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $539.07, for a total transaction of $2,499,128.52. Following the transaction, the insider now directly owns 7,237 shares of the company's stock, valued at $3,901,249.59. This represents a 39.05% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.73% of the company's stock.

Wall Street Analysts Forecast Growth

AMP has been the topic of a number of recent analyst reports. Royal Bank of Canada lifted their target price on Ameriprise Financial from $550.00 to $565.00 and gave the company an "outperform" rating in a research report on Tuesday, April 29th. Morgan Stanley lifted their target price on Ameriprise Financial from $507.00 to $542.00 and gave the company an "equal weight" rating in a research report on Tuesday, March 4th. Raymond James upgraded Ameriprise Financial from a "market perform" rating to a "strong-buy" rating and set a $518.00 target price on the stock in a research report on Monday, April 7th. Piper Sandler lifted their target price on Ameriprise Financial from $415.00 to $442.00 and gave the company an "underweight" rating in a research report on Friday, January 31st. Finally, Keefe, Bruyette & Woods boosted their price target on Ameriprise Financial from $510.00 to $520.00 and gave the stock a "market perform" rating in a report on Wednesday, May 7th. One research analyst has rated the stock with a sell rating, four have given a hold rating, two have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Ameriprise Financial currently has an average rating of "Hold" and a consensus price target of $517.13.

Ameriprise Financial Trading Up 0.9%

Shares of NYSE:AMP traded up $4.51 during midday trading on Friday, hitting $524.06. 338,216 shares of the stock were exchanged, compared to its average volume of 493,378. The stock has a market capitalization of $49.90 billion, a price-to-earnings ratio of 15.85, a P/E/G ratio of 1.15 and a beta of 1.28. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.59 and a current ratio of 0.59. The business's 50-day moving average price is $479.32 and its 200 day moving average price is $520.15. Ameriprise Financial, Inc. has a 12 month low of $385.74 and a 12 month high of $582.05.

Ameriprise Financial (NYSE:AMP - Get Free Report) last announced its earnings results on Thursday, April 24th. The financial services provider reported $9.50 EPS for the quarter, beating the consensus estimate of $9.08 by $0.42. Ameriprise Financial had a return on equity of 69.35% and a net margin of 19.70%. The business had revenue of $4.35 billion for the quarter, compared to analysts' expectations of $4.45 billion. During the same period in the prior year, the business posted $8.39 earnings per share. The firm's revenue was up 3.6% on a year-over-year basis. Analysts predict that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current year.

Ameriprise Financial announced that its Board of Directors has initiated a stock buyback program on Thursday, April 24th that authorizes the company to buyback $4.50 billion in shares. This buyback authorization authorizes the financial services provider to reacquire up to 9.9% of its stock through open market purchases. Stock buyback programs are usually a sign that the company's management believes its stock is undervalued.

Ameriprise Financial Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, May 19th. Investors of record on Monday, May 5th will be issued a $1.60 dividend. The ex-dividend date is Monday, May 5th. This is a boost from Ameriprise Financial's previous quarterly dividend of $1.48. This represents a $6.40 annualized dividend and a yield of 1.22%. Ameriprise Financial's dividend payout ratio is presently 21.75%.

About Ameriprise Financial

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.