Ameriprise Financial, Inc. (NYSE:AMP) Shares Sold by Meiji Yasuda Life Insurance Co

Meiji Yasuda Life Insurance Co lessened its stake in Ameriprise Financial, Inc. (NYSE:AMP) by 0.8% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,678 shares of the financial services provider’s stock after selling 40 shares during the quarter. Meiji Yasuda Life Insurance Co’s holdings in Ameriprise Financial were worth $1,998,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. Retirement Group LLC acquired a new position in shares of Ameriprise Financial during the 1st quarter valued at $25,000. DiNuzzo Private Wealth Inc. lifted its holdings in shares of Ameriprise Financial by 268.8% during the 2nd quarter. DiNuzzo Private Wealth Inc. now owns 59 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 43 shares in the last quarter. Accordant Advisory Group Inc acquired a new position in shares of Ameriprise Financial during the 2nd quarter valued at $26,000. Redmont Wealth Advisors LLC acquired a new position in shares of Ameriprise Financial during the 1st quarter valued at $28,000. Finally, Mascoma Wealth Management LLC lifted its holdings in shares of Ameriprise Financial by 153.8% during 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. Institutional investors and hedge funds own 83.95% of the company’s stock.

Insider Transactions at Ameriprise Financial

In other news, VP William Davies sold 8,700 shares of Ameriprise Financial stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $442.07, for a total value of $3,846,009.00. Following the completion of the transaction, 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 document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.73% of the company’s stock.

Ameriprise Financial Price Performance

AMP opened at $452.36 on Wednesday. The company has a 50-day moving average of $429.17 and a 200-day moving average of $427.73. The company has a market capitalization of $44.93 billion, a P/E ratio of 15.40, a PEG ratio of 0.75 and a beta of 1.35. Ameriprise Financial, Inc. has a 1-year low of $306.63 and a 1-year high of $453.99. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.59 and a current ratio of 0.59.

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

Ameriprise Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 16th. Stockholders of record on Monday, August 5th were given a $1.48 dividend. This represents a $5.92 annualized dividend and a dividend yield of 1.31%. The ex-dividend date of this dividend was Monday, August 5th. Ameriprise Financial’s payout ratio is currently 20.15%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on AMP shares. Jefferies Financial Group lifted their target price on shares of Ameriprise Financial from $500.00 to $504.00 and gave the company a “buy” rating in a report on Friday, June 28th. Piper Sandler reduced their target price on shares of 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 dropped their price target on shares of Ameriprise Financial from $500.00 to $495.00 and set a “buy” rating on the stock in a research note on Tuesday, July 9th. Keefe, Bruyette & Woods dropped their price target on shares of Ameriprise Financial from $470.00 to $460.00 and set a “market perform” rating on the stock in a research note on Tuesday, July 30th. Finally, Royal Bank of Canada lifted their price target on shares of Ameriprise Financial from $487.00 to $500.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 30th. One equities research 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’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $464.33.

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.