Nomura Asset Management Co. Ltd. Has $16.89 Million Holdings in Ameriprise Financial, Inc. (NYSE:AMP)

Nomura Asset Management Co. Ltd. raised its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMPFree Report) by 2.6% in the fourth quarter, Holdings Channel reports. The institutional investor owned 44,457 shares of the financial services provider’s stock after buying an additional 1,127 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in Ameriprise Financial were worth $16,886,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. Norges Bank acquired a new position in shares of Ameriprise Financial in the fourth quarter valued at $514,539,000. Dimensional Fund Advisors LP raised its stake in Ameriprise Financial by 3.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,015,225 shares of the financial services provider’s stock worth $385,620,000 after acquiring an additional 35,931 shares in the last quarter. Royal Bank of Canada raised its stake in Ameriprise Financial by 2.4% during the third quarter. Royal Bank of Canada now owns 894,744 shares of the financial services provider’s stock worth $294,979,000 after acquiring an additional 20,970 shares in the last quarter. Invesco Ltd. raised its stake in Ameriprise Financial by 13.4% during the third quarter. Invesco Ltd. now owns 672,823 shares of the financial services provider’s stock worth $221,816,000 after acquiring an additional 79,611 shares in the last quarter. Finally, Envestnet Asset Management Inc. raised its stake in Ameriprise Financial by 12.5% during the third quarter. Envestnet Asset Management Inc. now owns 620,048 shares of the financial services provider’s stock worth $204,417,000 after acquiring an additional 69,078 shares in the last quarter. 83.95% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have issued reports on AMP. Morgan Stanley increased their price objective on Ameriprise Financial from $400.00 to $437.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 9th. Argus increased their price objective on Ameriprise Financial from $440.00 to $460.00 and gave the stock a “buy” rating in a research note on Monday, May 6th. Royal Bank of Canada increased their price objective on Ameriprise Financial from $470.00 to $480.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 24th. Keefe, Bruyette & Woods increased their price objective on Ameriprise Financial from $420.00 to $460.00 and gave the stock a “market perform” rating in a research note on Wednesday, April 10th. Finally, Raymond James initiated coverage on Ameriprise Financial in a report on Thursday, March 21st. They set a “market perform” rating on the stock. One analyst has rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $450.88.

Check Out Our Latest Stock Analysis on Ameriprise Financial

Ameriprise Financial Price Performance

Ameriprise Financial stock opened at $440.97 on Monday. The business’s 50-day simple moving average is $426.41 and its 200 day simple moving average is $396.52. The stock has a market cap of $43.80 billion, a price-to-earnings ratio of 15.01, a P/E/G ratio of 0.75 and a beta of 1.35. Ameriprise Financial, Inc. has a 12-month low of $292.65 and a 12-month high of $442.09. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 1.13.

Ameriprise Financial (NYSE:AMPGet Free Report) last posted its quarterly earnings results on Wednesday, April 24th. The financial services provider reported $8.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $8.10 by $0.29. Ameriprise Financial had a return on equity of 75.97% and a net margin of 19.42%. The business had revenue of $4.15 billion for the quarter, compared to analysts’ expectations of $4.15 billion. During the same quarter last year, the business earned $7.25 earnings per share. The firm’s quarterly revenue was up 10.8% compared to the same quarter last year. As a group, research analysts anticipate that Ameriprise Financial, Inc. will post 34.93 earnings per share for the current year.

Ameriprise Financial Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 17th. Shareholders of record on Monday, May 6th were issued a dividend of $1.48 per share. The ex-dividend date was Friday, May 3rd. This represents a $5.92 dividend on an annualized basis and a yield of 1.34%. This is a boost from Ameriprise Financial’s previous quarterly dividend of $1.35. Ameriprise Financial’s dividend payout ratio (DPR) is 20.15%.

Insiders Place Their Bets

In other Ameriprise Financial news, CEO William F. Truscott sold 8,000 shares of the firm’s stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $412.05, for a total transaction of $3,296,400.00. Following the transaction, the chief executive officer now owns 13,134 shares in the company, valued at $5,411,864.70. The sale was disclosed in a document filed with the SEC, which is available through this link. In other news, Director Robert Francis Sharpe, Jr. sold 1,500 shares of the firm’s stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $438.07, for a total transaction of $657,105.00. Following the sale, the director now owns 11,000 shares of the company’s stock, valued at $4,818,770. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO William F. Truscott sold 8,000 shares of the firm’s stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $412.05, for a total value of $3,296,400.00. Following the sale, the chief executive officer now directly owns 13,134 shares in the company, valued at approximately $5,411,864.70. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 11,376 shares of company stock worth $4,772,674. Insiders own 0.96% of the company’s stock.

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.

See Also

Want to see what other hedge funds are holding AMP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ameriprise Financial, Inc. (NYSE:AMPFree Report).

Institutional Ownership by Quarter for Ameriprise Financial (NYSE:AMP)

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