Nomura Holdings Inc. Makes New $1.70 Million Investment in Ameriprise Financial, Inc. (NYSE:AMP)

Nomura Holdings Inc. bought a new position in shares of Ameriprise Financial, Inc. (NYSE:AMP) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 3,197 shares of the financial services provider’s stock, valued at approximately $1,702,000.

A number of other institutional investors and hedge funds also recently modified their holdings of AMP. TCTC Holdings LLC acquired a new stake in shares of Ameriprise Financial in the 4th quarter worth about $26,000. Whipplewood Advisors LLC acquired a new stake in shares of Ameriprise Financial in the 4th quarter worth about $28,000. Rialto Wealth Management LLC acquired a new stake in shares of Ameriprise Financial in the 4th quarter worth about $28,000. Wingate Wealth Advisors Inc. acquired a new stake in shares of Ameriprise Financial in the 4th quarter worth about $30,000. Finally, Sound Income Strategies LLC acquired a new stake in shares of Ameriprise Financial in the 4th quarter worth about $36,000. 83.95% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Joseph Edward Sweeney sold 4,636 shares of the firm’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $539.07, for a total transaction of $2,499,128.52. Following the completion of the transaction, the insider now owns 7,237 shares in the company, valued at approximately $3,901,249.59. This trade represents a 39.05% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 0.73% of the company’s stock.

Ameriprise Financial Stock Up 0.9%

Ameriprise Financial stock opened at $524.06 on Friday. The stock has a market cap of $49.90 billion, a price-to-earnings ratio of 15.85, a PEG ratio of 1.15 and a beta of 1.28. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 1.01. The company’s 50-day moving average price is $479.32 and its two-hundred day moving average price is $520.19. Ameriprise Financial, Inc. has a 52 week low of $385.74 and a 52 week high of $582.05.

Ameriprise Financial (NYSE:AMP) last released 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 net margin of 19.70% and a return on equity of 69.35%. The firm had revenue of $4.35 billion for the quarter, compared to analysts’ expectations of $4.45 billion. During the same quarter last year, the company earned $8.39 EPS. Ameriprise Financial’s quarterly revenue was up 3.6% on a year-over-year basis. On average, analysts expect that Ameriprise Financial, Inc. will post 38.64 EPS for the current fiscal year.

Ameriprise Financial declared that its board has authorized a stock buyback plan on Thursday, April 24th that allows the company to buyback $4.50 billion in shares. This buyback authorization allows the financial services provider to buy up to 9.9% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its stock is undervalued.

Ameriprise Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, May 19th. Stockholders of record on Monday, May 5th will be given a dividend of $1.60 per share. This is a positive change from Ameriprise Financial’s previous quarterly dividend of $1.48. The ex-dividend date is Monday, May 5th. This represents a $6.40 annualized dividend and a dividend yield of 1.22%. Ameriprise Financial’s dividend payout ratio (DPR) is 21.75%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Raymond James raised shares of Ameriprise Financial from a “market perform” rating to a “strong-buy” rating and set a $518.00 price objective on the stock in a report on Monday, April 7th. Royal Bank of Canada increased their price objective on shares of Ameriprise Financial from $550.00 to $565.00 and gave the stock an “outperform” rating in a report on Tuesday, April 29th. Piper Sandler increased their price objective on shares of Ameriprise Financial from $415.00 to $442.00 and gave the stock an “underweight” rating in a report on Friday, January 31st. Morgan Stanley increased their price objective on shares of Ameriprise Financial from $507.00 to $542.00 and gave the stock an “equal weight” rating in a report on Tuesday, March 4th. Finally, Keefe, Bruyette & Woods raised their target price on shares of Ameriprise Financial from $510.00 to $520.00 and gave the company a “market perform” rating in a research note on Wednesday, May 7th. One research analyst has rated the stock with a sell rating, four have given a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $517.13.

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.