Resona Asset Management Co. Ltd. Has $14.50 Million Position in Ameriprise Financial, Inc. $AMP

Resona Asset Management Co. Ltd. trimmed its stake in Ameriprise Financial, Inc. (NYSE:AMP) by 5.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 29,499 shares of the financial services provider’s stock after selling 1,860 shares during the quarter. Resona Asset Management Co. Ltd.’s holdings in Ameriprise Financial were worth $14,504,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the stock. Holos Integrated Wealth LLC bought a new stake in shares of Ameriprise Financial during the 4th quarter worth approximately $30,000. Redmont Wealth Advisors LLC bought a new stake in shares of Ameriprise Financial during the 3rd quarter worth approximately $32,000. Ares Financial Consulting LLC bought a new stake in shares of Ameriprise Financial during the 4th quarter worth approximately $32,000. WFA of San Diego LLC bought a new stake in shares of Ameriprise Financial during the 2nd quarter worth approximately $36,000. Finally, Activest Wealth Management raised its stake in shares of Ameriprise Financial by 777.8% during the 4th quarter. Activest Wealth Management now owns 79 shares of the financial services provider’s stock worth $39,000 after purchasing an additional 70 shares in the last quarter. Institutional investors and hedge funds own 83.95% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on AMP shares. BMO Capital Markets upped their price objective on Ameriprise Financial from $470.00 to $490.00 and gave the stock a “market perform” rating in a research note on Friday, April 24th. Royal Bank Of Canada reiterated an “outperform” rating and set a $605.00 price objective (up from $580.00) on shares of Ameriprise Financial in a research note on Monday, February 2nd. Raymond James Financial set a $582.00 price objective on Ameriprise Financial and gave the stock a “strong-buy” rating in a research note on Wednesday, February 11th. Jefferies Financial Group upped their price objective on Ameriprise Financial from $600.00 to $620.00 and gave the stock a “buy” rating in a research note on Monday, February 2nd. Finally, Morgan Stanley lifted their target price on Ameriprise Financial from $452.00 to $467.00 and gave the stock an “underweight” rating in a research note on Thursday, April 30th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $543.22.

Ameriprise Financial Stock Performance

Shares of NYSE AMP opened at $457.39 on Thursday. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 0.90. Ameriprise Financial, Inc. has a 12 month low of $422.37 and a 12 month high of $550.18. The stock has a 50 day moving average of $454.40 and a 200-day moving average of $473.43. The company has a market capitalization of $41.12 billion, a P/E ratio of 11.38, a P/E/G ratio of 1.09 and a beta of 1.20.

Ameriprise Financial (NYSE:AMP) last issued its earnings results on Thursday, April 23rd. The financial services provider reported $11.26 EPS for the quarter, topping the consensus estimate of $10.21 by $1.05. Ameriprise Financial had a return on equity of 62.88% and a net margin of 20.57%.The company had revenue of $4.77 billion during the quarter, compared to the consensus estimate of $4.82 billion. During the same period in the previous year, the company posted $9.50 EPS. The firm’s revenue for the quarter was up 9.7% compared to the same quarter last year. As a group, equities research analysts predict that Ameriprise Financial, Inc. will post 42.63 EPS for the current year.

Ameriprise Financial Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 22nd. Investors of record on Monday, May 4th will be issued a dividend of $1.70 per share. This represents a $6.80 annualized dividend and a yield of 1.5%. The ex-dividend date of this dividend is Monday, May 4th. This is an increase from Ameriprise Financial’s previous quarterly dividend of $1.60. Ameriprise Financial’s payout ratio is 16.91%.

Insider Activity at Ameriprise Financial

In related news, EVP Gerard P. Smyth sold 6,255 shares of Ameriprise Financial stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $472.52, for a total transaction of $2,955,612.60. Following the completion of the sale, the executive vice president directly owned 6,103 shares of the company’s stock, valued at approximately $2,883,789.56. This trade represents a 50.61% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Robert Francis Sharpe, Jr. sold 1,200 shares of Ameriprise Financial stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $465.83, for a total value of $558,996.00. Following the sale, the director directly owned 6,300 shares of the company’s stock, valued at approximately $2,934,729. The trade was a 16.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 0.60% of the company’s stock.

Ameriprise Financial Profile

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.