Ameriprise Financial, Inc. $AMP Shares Bought by Resona Asset Management Co. Ltd.

Resona Asset Management Co. Ltd. grew its stake in Ameriprise Financial, Inc. (NYSE:AMP) by 2.1% during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 32,888 shares of the financial services provider’s stock after purchasing an additional 679 shares during the quarter. Resona Asset Management Co. Ltd.’s holdings in Ameriprise Financial were worth $17,524,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of the stock. JPMorgan Chase & Co. raised its stake in Ameriprise Financial by 21.3% during the first quarter. JPMorgan Chase & Co. now owns 5,824,915 shares of the financial services provider’s stock valued at $2,819,900,000 after buying an additional 1,023,002 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of Ameriprise Financial by 55.0% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,244,788 shares of the financial services provider’s stock valued at $1,086,724,000 after acquiring an additional 796,925 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of Ameriprise Financial by 28.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,195,703 shares of the financial services provider’s stock valued at $578,852,000 after acquiring an additional 266,631 shares during the last quarter. Nuveen LLC acquired a new stake in shares of Ameriprise Financial during the 1st quarter valued at approximately $469,334,000. Finally, Royal Bank of Canada boosted its holdings in Ameriprise Financial by 1.1% in the first quarter. Royal Bank of Canada now owns 733,036 shares of the financial services provider’s stock worth $354,870,000 after purchasing an additional 7,840 shares during the period. Institutional investors own 83.95% of the company’s stock.

Ameriprise Financial Trading Up 0.9%

Ameriprise Financial stock opened at $461.68 on Friday. Ameriprise Financial, Inc. has a 52-week low of $396.14 and a 52-week high of $582.05. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 0.95. The firm has a market capitalization of $42.89 billion, a price-to-earnings ratio of 14.36, a PEG ratio of 1.07 and a beta of 1.28. The firm has a 50-day moving average price of $484.77 and a two-hundred day moving average price of $502.61.

Ameriprise Financial (NYSE:AMP) last released its quarterly earnings results on Thursday, October 30th. The financial services provider reported $9.92 earnings per share for the quarter, beating analysts’ consensus estimates of $9.76 by $0.16. The company had revenue of $4.89 billion for the quarter, compared to analysts’ expectations of $4.51 billion. Ameriprise Financial had a return on equity of 65.90% and a net margin of 18.30%.The business’s revenue for the quarter was up 9.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $9.02 earnings per share. Sell-side analysts expect that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current year.

Ameriprise Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 24th. Shareholders of record on Monday, November 10th will be given a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date is Monday, November 10th. Ameriprise Financial’s payout ratio is 17.55%.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. BMO Capital Markets began coverage on shares of Ameriprise Financial in a report on Friday, October 3rd. They set a “market perform” rating and a $525.00 target price on the stock. Raymond James Financial increased their price objective on shares of Ameriprise Financial from $518.00 to $582.00 and gave the stock a “strong-buy” rating in a research note on Friday, July 25th. Keefe, Bruyette & Woods cut their target price on shares of Ameriprise Financial from $550.00 to $530.00 and set a “market perform” rating on the stock in a report on Monday, November 3rd. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Ameriprise Financial in a report on Wednesday, October 8th. Finally, Morgan Stanley cut their price target on Ameriprise Financial from $530.00 to $484.00 and set an “underweight” rating on the stock in a report on Wednesday, October 1st. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $530.63.

Insider Buying and Selling at Ameriprise Financial

In related news, EVP Heather J. Melloh sold 1,500 shares of the company’s stock in a transaction dated Thursday, September 4th. The shares were sold at an average price of $512.34, for a total value of $768,510.00. Following the completion of the sale, the executive vice president owned 2,562 shares of the company’s stock, valued at $1,312,615.08. This represents a 36.93% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO William F. Truscott sold 9,929 shares of the firm’s stock in a transaction dated Tuesday, August 19th. The shares were sold at an average price of $506.89, for a total transaction of $5,032,910.81. Following the transaction, the chief executive officer directly owned 11,047 shares in the company, valued at approximately $5,599,613.83. The trade was a 47.34% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 0.73% of the company’s stock.

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.