Daiwa Securities Group Inc. Purchases 2,145 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

Daiwa Securities Group Inc. boosted its position in Ameriprise Financial, Inc. (NYSE:AMP) by 21.8% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 11,996 shares of the financial services provider’s stock after purchasing an additional 2,145 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Ameriprise Financial were worth $5,125,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Retirement Group LLC acquired a new position in shares of Ameriprise Financial during the 1st quarter worth approximately $25,000. DiNuzzo Private Wealth Inc. boosted its stake in shares of Ameriprise Financial by 268.8% in the second quarter. DiNuzzo Private Wealth Inc. now owns 59 shares of the financial services provider’s stock valued at $25,000 after buying an additional 43 shares during the period. Accordant Advisory Group Inc acquired a new stake in Ameriprise Financial during the second quarter worth approximately $26,000. Redmont Wealth Advisors LLC bought a new position in Ameriprise Financial during the 1st quarter worth $28,000. Finally, Mascoma Wealth Management LLC raised its holdings in Ameriprise Financial by 153.8% in the 2nd quarter. Mascoma Wealth Management LLC now owns 66 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 40 shares in the last quarter. 83.95% of the stock is owned by institutional investors and hedge funds.

Ameriprise Financial Stock Performance

Shares of Ameriprise Financial stock opened at $435.77 on Thursday. The company’s 50 day moving average price is $428.25 and its two-hundred day moving average price is $426.64. The firm has a market capitalization of $43.28 billion, a P/E ratio of 14.83, a P/E/G ratio of 0.74 and a beta of 1.35. Ameriprise Financial, Inc. has a fifty-two week low of $306.63 and a fifty-two week high of $450.35. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.59 and a quick ratio of 0.59.

Ameriprise Financial (NYSE:AMP) last released its quarterly earnings data on Wednesday, July 24th. The financial services provider reported $8.72 earnings per share for the quarter, beating the consensus estimate of $8.53 by $0.19. Ameriprise Financial had a return on equity of 73.83% and a net margin of 18.64%. The company had revenue of $4.39 billion for the quarter, compared to the consensus estimate of $4.24 billion. During the same quarter last year, the business posted $7.44 EPS. Ameriprise Financial’s revenue for the quarter was up 9.6% on a year-over-year basis. On average, equities analysts forecast that Ameriprise Financial, Inc. will post 34.81 earnings per share for the current fiscal year.

Ameriprise Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 16th. Stockholders of record on Monday, August 5th were paid a $1.48 dividend. This represents a $5.92 annualized dividend and a dividend yield of 1.36%. The ex-dividend date of this dividend was Monday, August 5th. Ameriprise Financial’s dividend payout ratio is currently 20.15%.

Insider Activity at Ameriprise Financial

In other Ameriprise Financial news, VP William Davies sold 8,700 shares of the business’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $442.07, for a total transaction of $3,846,009.00. Following the sale, the vice president now directly owns 13,199 shares of the company’s stock, valued at approximately $5,834,881.93. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.73% of the stock is owned by company insiders.

Analyst Ratings Changes

Several analysts have recently issued reports on AMP shares. Piper Sandler reduced their target price on Ameriprise Financial from $390.00 to $387.00 and set an “underweight” rating on the stock in a report on Friday, June 28th. UBS Group decreased their target price on shares of Ameriprise Financial from $500.00 to $495.00 and set a “buy” rating on the stock in a report on Tuesday, July 9th. Keefe, Bruyette & Woods dropped their target price on shares of Ameriprise Financial from $470.00 to $460.00 and set a “market perform” rating for the company in a research report on Tuesday, July 30th. Morgan Stanley reduced their price target on shares of Ameriprise Financial from $444.00 to $440.00 and set an “equal weight” rating on the stock in a research report on Monday, July 29th. Finally, Royal Bank of Canada boosted their price objective on shares of Ameriprise Financial from $487.00 to $500.00 and gave the company an “outperform” rating in a research report on Tuesday, July 30th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $464.33.

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.