Resona Asset Management Co. Ltd. Makes New Investment in Ameriprise Financial, Inc. (NYSE:AMP)

Resona Asset Management Co. Ltd. purchased a new stake in Ameriprise Financial, Inc. (NYSE:AMP) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm purchased 30,104 shares of the financial services provider’s stock, valued at approximately $16,044,000.

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

Ameriprise Financial Trading Down 7.5 %

Shares of AMP opened at $421.61 on Friday. Ameriprise Financial, Inc. has a fifty-two week low of $385.74 and a fifty-two week high of $582.05. The company has a market capitalization of $40.52 billion, a PE ratio of 12.75, a price-to-earnings-growth ratio of 1.15 and a beta of 1.23. The stock has a fifty day moving average of $515.46 and a two-hundred day moving average of $524.00. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.59 and a current ratio of 0.59.

Ameriprise Financial (NYSE:AMP) last released its earnings results on Wednesday, January 29th. The financial services provider reported $9.36 EPS for the quarter, beating the consensus estimate of $9.16 by $0.20. Ameriprise Financial had a return on equity of 69.35% and a net margin of 19.70%. As a group, analysts forecast that Ameriprise Financial, Inc. will post 38.64 EPS for the current year.

Ameriprise Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Monday, February 10th were given a $1.48 dividend. The ex-dividend date of this dividend was Monday, February 10th. This represents a $5.92 annualized dividend and a dividend yield of 1.40%. Ameriprise Financial’s dividend payout ratio is presently 17.91%.

Insider Activity at Ameriprise Financial

In other news, Director Robert Francis Sharpe, Jr. sold 1,000 shares of Ameriprise Financial stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $523.12, for a total value of $523,120.00. Following the transaction, the director now directly owns 10,000 shares of the company’s stock, valued at $5,231,200. The trade was a 9.09 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Joseph Edward Sweeney sold 4,636 shares of the 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 sale, the insider now directly owns 7,237 shares of the company’s stock, valued at approximately $3,901,249.59. This trade represents a 39.05 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 11,636 shares of company stock worth $6,263,989. 0.73% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research firms have weighed in on AMP. Keefe, Bruyette & Woods upped their target price on Ameriprise Financial from $560.00 to $570.00 and gave the company a “market perform” rating in a report on Monday, February 3rd. UBS Group cut shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $580.00 to $570.00 in a research note on Monday, January 6th. Royal Bank of Canada restated an “outperform” rating and set a $625.00 target price on shares of Ameriprise Financial in a research report on Monday, February 3rd. Piper Sandler increased their price target on shares of Ameriprise Financial from $415.00 to $442.00 and gave the company an “underweight” rating in a research report on Friday, January 31st. Finally, Morgan Stanley raised their price objective on shares of Ameriprise Financial from $507.00 to $542.00 and gave the stock an “equal weight” rating in a research note on Tuesday, March 4th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $514.89.

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.