Daiwa Securities Group Inc. Has $7.33 Million Position in Ameriprise Financial, Inc. (NYSE:AMP)

Daiwa Securities Group Inc. lifted its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 13.9% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 13,762 shares of the financial services provider’s stock after acquiring an additional 1,681 shares during the period. Daiwa Securities Group Inc.’s holdings in Ameriprise Financial were worth $7,327,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Whipplewood Advisors LLC acquired a new position in shares of Ameriprise Financial during the 4th quarter valued at $28,000. Rialto Wealth Management LLC acquired a new position in shares of Ameriprise Financial during the 4th quarter valued at $28,000. Wingate Wealth Advisors Inc. acquired a new position in shares of Ameriprise Financial during the 4th quarter valued at $30,000. Sound Income Strategies LLC acquired a new position in shares of Ameriprise Financial during the 4th quarter valued at $36,000. Finally, SRS Capital Advisors Inc. grew its position in Ameriprise Financial by 40.0% in the 4th quarter. SRS Capital Advisors Inc. now owns 70 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 20 shares during the period. Institutional investors and hedge funds own 83.95% of the company’s stock.

Insider Activity

In other news, CEO William F. Truscott sold 6,000 shares of the company’s stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $540.29, for a total transaction of $3,241,740.00. Following the transaction, 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Joseph Edward Sweeney sold 4,636 shares of the company’s stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $539.07, for a total value of $2,499,128.52. Following the transaction, the insider now directly owns 7,237 shares in the company, valued at $3,901,249.59. This represents a 39.05 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 11,636 shares of company stock valued at $6,263,989 in the last 90 days. Insiders own 0.73% of the company’s stock.

Ameriprise Financial Stock Down 0.5 %

AMP stock opened at $478.20 on Wednesday. The stock’s fifty day simple moving average is $534.76 and its two-hundred day simple moving average is $518.81. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 1.01. Ameriprise Financial, Inc. has a 1-year low of $385.74 and a 1-year high of $582.05. The stock has a market cap of $45.96 billion, a P/E ratio of 14.46, a P/E/G ratio of 1.15 and a beta of 1.33.

Ameriprise Financial (NYSE:AMP) last posted its quarterly earnings data on Wednesday, January 29th. The financial services provider reported $9.36 earnings per share 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%. Analysts expect that Ameriprise Financial, Inc. will post 38.64 EPS for the current year.

Ameriprise Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Monday, February 10th were paid a $1.48 dividend. The ex-dividend date was Monday, February 10th. This represents a $5.92 annualized dividend and a dividend yield of 1.24%. Ameriprise Financial’s payout ratio is presently 17.91%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on AMP. Keefe, Bruyette & Woods lifted their price target on shares of Ameriprise Financial from $560.00 to $570.00 and gave the company a “market perform” rating in a research report on Monday, February 3rd. Morgan Stanley lifted their price target 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 downgraded shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and reduced their price target for the company from $580.00 to $570.00 in a research report on Monday, January 6th. Piper Sandler lifted their price target on shares of Ameriprise Financial from $415.00 to $442.00 and gave the company an “underweight” rating in a research report on Friday, January 31st. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $625.00 price target on shares of Ameriprise Financial in a research report on Monday, February 3rd. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $514.89.

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.