Meiji Yasuda Asset Management Co Ltd. Sells 980 Shares of Ameriprise Financial, Inc. $AMP

Meiji Yasuda Asset Management Co Ltd. lessened its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 39.6% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,493 shares of the financial services provider’s stock after selling 980 shares during the quarter. Meiji Yasuda Asset Management Co Ltd.’s holdings in Ameriprise Financial were worth $723,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Brighton Jones LLC boosted its holdings in shares of Ameriprise Financial by 6.9% during the 4th quarter. Brighton Jones LLC now owns 777 shares of the financial services provider’s stock valued at $413,000 after acquiring an additional 50 shares in the last quarter. Balyasny Asset Management L.P. bought a new position in Ameriprise Financial in the fourth quarter valued at about $633,000. Graham Capital Management L.P. acquired a new stake in shares of Ameriprise Financial during the fourth quarter valued at about $775,000. Gotham Asset Management LLC grew its holdings in shares of Ameriprise Financial by 10.6% during the fourth quarter. Gotham Asset Management LLC now owns 1,884 shares of the financial services provider’s stock worth $1,003,000 after purchasing an additional 180 shares during the last quarter. Finally, Group One Trading LLC increased its stake in shares of Ameriprise Financial by 178.0% in the fourth quarter. Group One Trading LLC now owns 278 shares of the financial services provider’s stock valued at $148,000 after buying an additional 178 shares during the period. 83.95% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms have weighed in on AMP. William Blair lowered shares of Ameriprise Financial from an “outperform” rating to a “market perform” rating in a report on Friday, July 25th. Keefe, Bruyette & Woods boosted their price objective on shares of Ameriprise Financial from $520.00 to $550.00 and gave the stock a “market perform” rating in a research note on Wednesday, July 9th. Royal Bank Of Canada increased their price objective on Ameriprise Financial from $595.00 to $601.00 and gave the company an “outperform” rating in a report on Wednesday, July 30th. Piper Sandler lifted their target price on Ameriprise Financial from $423.00 to $434.00 and gave the stock an “underweight” rating in a report on Thursday, July 3rd. Finally, Morgan Stanley cut Ameriprise Financial from an “equal weight” rating to an “underweight” rating and increased their price target for the company from $462.00 to $530.00 in a research note on Tuesday, July 15th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, four have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $534.71.

Insiders Place Their Bets

In related news, EVP Heather J. Melloh sold 1,500 shares of the firm’s stock in a transaction dated Thursday, September 4th. The stock was sold at an average price of $512.34, for a total transaction of $768,510.00. Following the transaction, the executive vice president directly owned 2,562 shares of the company’s stock, valued at approximately $1,312,615.08. This trade represents a 36.93% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO William F. Truscott sold 9,929 shares of the stock in a transaction on 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. This represents a 47.34% decrease in their position. The disclosure for this sale can be found here. 0.73% of the stock is owned by corporate insiders.

Ameriprise Financial Stock Down 0.3%

AMP stock opened at $491.77 on Thursday. The stock has a market cap of $46.36 billion, a P/E ratio of 15.30, a P/E/G ratio of 1.05 and a beta of 1.27. The stock’s fifty day simple moving average is $517.49 and its two-hundred day simple moving average is $503.42. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 0.95. Ameriprise Financial, Inc. has a 1-year low of $396.14 and a 1-year high of $582.05.

Ameriprise Financial (NYSE:AMP) last announced its quarterly earnings data on Thursday, July 24th. The financial services provider reported $9.11 earnings per share for the quarter, beating the consensus estimate of $9.00 by $0.11. The business had revenue of $4.49 billion during the quarter, compared to analyst estimates of $4.33 billion. Ameriprise Financial had a return on equity of 65.90% and a net margin of 18.30%.Ameriprise Financial’s revenue was up 2.2% compared to the same quarter last year. During the same period in the prior year, the company earned $8.72 earnings per share. Analysts expect that Ameriprise Financial, Inc. will post 38.64 EPS for the current year.

Ameriprise Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, August 18th. Shareholders of record on Monday, August 4th were paid a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend was Monday, August 4th. Ameriprise Financial’s payout ratio is currently 19.91%.

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.