Nippon Life Global Investors Americas Inc. boosted its holdings in Ameriprise Financial, Inc. (NYSE:AMP) by 62.1% in the first quarter, Holdings Channel reports. The firm owned 75,910 shares of the financial services provider’s stock after purchasing an additional 29,080 shares during the quarter. Ameriprise Financial comprises about 1.0% of Nippon Life Global Investors Americas Inc.’s holdings, making the stock its 27th biggest position. Nippon Life Global Investors Americas Inc.’s holdings in Ameriprise Financial were worth $17,645,000 at the end of the most recent quarter.
A number of other institutional investors have also added to or reduced their stakes in the stock. Wedbush Securities Inc. lifted its position in shares of Ameriprise Financial by 4.1% in the 1st quarter. Wedbush Securities Inc. now owns 1,245 shares of the financial services provider’s stock worth $289,000 after purchasing an additional 49 shares during the period. Penserra Capital Management LLC lifted its position in shares of Ameriprise Financial by 24.5% during the 4th quarter. Penserra Capital Management LLC now owns 254 shares of the financial services provider’s stock valued at $49,000 after acquiring an additional 50 shares during the period. Parallel Advisors LLC lifted its position in shares of Ameriprise Financial by 4.4% during the 1st quarter. Parallel Advisors LLC now owns 1,175 shares of the financial services provider’s stock valued at $273,000 after acquiring an additional 50 shares during the period. Steward Partners Investment Advisory LLC lifted its position in shares of Ameriprise Financial by 0.4% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 13,659 shares of the financial services provider’s stock valued at $2,654,000 after acquiring an additional 51 shares during the period. Finally, Transform Wealth LLC increased its stake in Ameriprise Financial by 3.0% during the 1st quarter. Transform Wealth LLC now owns 1,879 shares of the financial services provider’s stock valued at $437,000 after purchasing an additional 55 shares in the last quarter. 80.06% of the stock is owned by institutional investors and hedge funds.
NYSE AMP traded up $1.53 during trading on Friday, hitting $254.27. 715,380 shares of the company’s stock traded hands, compared to its average volume of 601,321. The stock has a market capitalization of $29.47 billion, a price-to-earnings ratio of 14.98 and a beta of 1.70. Ameriprise Financial, Inc. has a 12-month low of $129.41 and a 12-month high of $269.29. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.70 and a current ratio of 0.70. The business has a 50 day moving average of $250.42 and a 200-day moving average of $215.69.
Ameriprise Financial (NYSE:AMP) last released its quarterly earnings data on Sunday, April 25th. The financial services provider reported $5.43 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $4.73 by $0.70. Ameriprise Financial had a negative net margin of 0.53% and a positive return on equity of 34.89%. The business had revenue of $3.35 billion for the quarter, compared to the consensus estimate of $3.23 billion. During the same period in the prior year, the firm earned $5.41 earnings per share. The company’s revenue was up 11.6% compared to the same quarter last year. On average, analysts expect that Ameriprise Financial, Inc. will post 21.32 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, May 21st. Stockholders of record on Monday, May 10th were issued a $1.13 dividend. This represents a $4.52 dividend on an annualized basis and a dividend yield of 1.78%. This is an increase from Ameriprise Financial’s previous quarterly dividend of $1.04. The ex-dividend date was Friday, May 7th. Ameriprise Financial’s dividend payout ratio is presently 32.10%.
A number of analysts have commented on AMP shares. Barclays boosted their price target on shares of Ameriprise Financial from $245.00 to $265.00 and gave the company an “overweight” rating in a research note on Monday, April 19th. Citigroup upped their target price on shares of Ameriprise Financial from $245.00 to $265.00 in a research note on Wednesday, March 31st. Royal Bank of Canada upped their target price on shares of Ameriprise Financial from $270.00 to $295.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 4th. Morgan Stanley upped their target price on shares of Ameriprise Financial from $236.00 to $250.00 and gave the stock an “equal weight” rating in a research note on Wednesday. Finally, Zacks Investment Research lowered shares of Ameriprise Financial from a “buy” rating to a “hold” rating and set a $244.00 target price for the company. in a research note on Wednesday, March 31st. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $238.44.
In other news, EVP Gerard P. Smyth sold 970 shares of the stock in a transaction dated Thursday, April 29th. The shares were sold at an average price of $259.64, for a total value of $251,850.80. Following the sale, the executive vice president now directly owns 13,969 shares of the company’s stock, valued at $3,626,911.16. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Karen Wilson Thissen sold 1,560 shares of the stock in a transaction dated Thursday, April 29th. The stock was sold at an average price of $259.85, for a total transaction of $405,366.00. Following the completion of the sale, the vice president now directly owns 11,657 shares in the company, valued at $3,029,071.45. The disclosure for this sale can be found here. Over the last three months, insiders sold 16,486 shares of company stock worth $4,268,471. Insiders own 1.10% of the company’s stock.
About Ameriprise Financial
Ameriprise Financial, Inc, through 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.
Featured Story: Initial Coin Offering (ICO)
Want to see what other hedge funds are holding AMP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ameriprise Financial, Inc. (NYSE:AMP).