Nippon Life Global Investors Americas Inc. Decreases Position in Ameriprise Financial, Inc. $AMP

by · The Markets Daily

Nippon Life Global Investors Americas Inc. decreased its stake in Ameriprise Financial, Inc. (NYSE:AMP – Free Report) by 6.6% in the third quarter, Holdings Channel.com reports. The firm owned 21,210 shares of the financial services provider’s stock after selling 1,490 shares during the period. Nippon Life Global Investors Americas Inc.’s holdings in Ameriprise Financial were worth $10,419,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Whipplewood Advisors LLC boosted its stake in Ameriprise Financial by 71.0% during the second quarter. Whipplewood Advisors LLC now owns 53 shares of the financial services provider’s stock worth $28,000 after buying an additional 22 shares during the period. Salomon & Ludwin LLC lifted its holdings in shares of Ameriprise Financial by 115.4% in the 2nd quarter. Salomon & Ludwin LLC now owns 56 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 30 shares during the last quarter. Winnow Wealth LLC bought a new position in Ameriprise Financial during the 2nd quarter valued at about $32,000. Heartwood Wealth Advisors LLC purchased a new stake in Ameriprise Financial in the 3rd quarter worth about $32,000. Finally, WFA of San Diego LLC bought a new stake in Ameriprise Financial in the second quarter worth about $36,000. Hedge funds and other institutional investors own 83.95% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. Weiss Ratings reissued a “buy (b-)” rating on shares of Ameriprise Financial in a research note on Monday, December 29th. Morgan Stanley boosted their target price on shares of Ameriprise Financial from $484.00 to $485.00 and gave the company an “underweight” rating in a research note on Monday, December 22nd. Evercore ISI reduced their price target on shares of Ameriprise Financial from $587.00 to $570.00 and set an “in-line” rating on the stock in a research note on Thursday, October 9th. Argus lowered their price objective on shares of Ameriprise Financial from $568.00 to $554.00 and set a “buy” rating for the company in a research report on Thursday, November 13th. Finally, Royal Bank Of Canada reduced their target price on shares of Ameriprise Financial from $601.00 to $550.00 and set an “outperform” rating on the stock in a research report on Monday, November 3rd. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $528.75.

View Our Latest Stock Report on Ameriprise Financial

Ameriprise Financial Price Performance

Shares of AMP opened at $509.02 on Friday. The company has a 50 day moving average of $480.76 and a two-hundred day moving average of $494.26. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 0.88. Ameriprise Financial, Inc. has a twelve month low of $396.14 and a twelve month high of $582.05. The company has a market cap of $47.29 billion, a price-to-earnings ratio of 13.96, a price-to-earnings-growth ratio of 1.32 and a beta of 1.26.

Ameriprise Financial (NYSE:AMP – Get Free Report) last issued its quarterly earnings data on Thursday, October 30th. The financial services provider reported $9.92 EPS for the quarter, beating the consensus estimate of $9.76 by $0.16. Ameriprise Financial had a return on equity of 64.97% and a net margin of 20.12%.The firm had revenue of $4.73 billion during the quarter, compared to analyst estimates of $4.51 billion. During the same quarter in the prior year, the business posted $9.02 EPS. The business’s revenue for the quarter was up 9.0% compared to the same quarter last year. As a group, analysts predict that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current fiscal year.

Ameriprise Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, November 24th. Stockholders of record on Monday, November 10th were issued a dividend of $1.60 per share. The ex-dividend date was Monday, November 10th. This represents a $6.40 annualized dividend and a dividend yield of 1.3%. Ameriprise Financial’s dividend payout ratio is 17.55%.

Insider Activity at Ameriprise Financial

In related news, Director Robert Francis Sharpe, Jr. sold 1,500 shares of Ameriprise Financial stock in a transaction that occurred on Friday, November 21st. The shares were sold at an average price of $450.94, for a total value of $676,410.00. Following the completion of the sale, the director directly owned 7,500 shares in the company, valued at $3,382,050. This trade represents a 16.67% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.73% of the stock is owned by insiders.

About Ameriprise Financial

(Free Report)

Ameriprise Financial, Inc is a diversified financial services company headquartered in Minneapolis, Minnesota. The firm provides a range of advice-based wealth management, asset management and insurance products to individual and institutional clients. Its business model centers on delivering financial planning and investment advice through a network of financial advisors alongside proprietary product offerings designed to meet retirement, protection and accumulation needs.

Core products and services include comprehensive financial planning and advisory services, managed investment portfolios, retirement planning solutions, annuities and life insurance products.

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