Nomura Asset Management Co. Ltd. Decreases Stake in Ameriprise Financial, Inc. (NYSE:AMP)

Nomura Asset Management Co. Ltd. cut its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 4.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 40,564 shares of the financial services provider’s stock after selling 1,918 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in Ameriprise Financial were worth $21,597,000 as of its most recent filing with the Securities & Exchange Commission.

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

Insiders Place Their Bets

In other news, insider Joseph Edward Sweeney sold 4,636 shares of Ameriprise Financial stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $539.07, for a total value of $2,499,128.52. Following the transaction, the insider now owns 7,237 shares in the company, valued at approximately $3,901,249.59. The trade was a 39.05 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO William F. Truscott sold 6,000 shares of the stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $540.29, for a total value of $3,241,740.00. Following the sale, the chief executive officer now owns 14,023 shares of the company’s stock, valued at $7,576,486.67. This represents a 29.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 11,636 shares of company stock valued at $6,263,989. 0.96% of the stock is currently owned by corporate insiders.

Ameriprise Financial Stock Performance

NYSE AMP opened at $481.64 on Friday. Ameriprise Financial, Inc. has a 52-week low of $385.74 and a 52-week high of $582.05. The company has a fifty day moving average of $524.55 and a 200-day moving average of $523.05. The company has a market capitalization of $46.29 billion, a P/E ratio of 14.57, a P/E/G ratio of 1.15 and a beta of 1.33. 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 issued its quarterly earnings results on Wednesday, January 29th. The financial services provider reported $9.36 earnings per share (EPS) for the quarter, topping 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, equities research analysts predict that Ameriprise Financial, Inc. will post 38.64 EPS for the current fiscal year.

Ameriprise Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Monday, February 10th were given a dividend of $1.48 per share. This represents a $5.92 dividend on an annualized basis and a yield of 1.23%. The ex-dividend date was Monday, February 10th. Ameriprise Financial’s payout ratio is currently 17.91%.

Analysts Set New Price Targets

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

About Ameriprise Financial

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.