Daiwa Securities Group Inc. Buys 2,145 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

Daiwa Securities Group Inc. boosted its stake in Ameriprise Financial, Inc. (NYSE:AMP) by 21.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,996 shares of the financial services provider’s stock after acquiring an additional 2,145 shares during the period. Daiwa Securities Group Inc.’s holdings in Ameriprise Financial were worth $5,125,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. Retirement Group LLC bought a new stake in shares of Ameriprise Financial in the 1st quarter valued at $25,000. DiNuzzo Private Wealth Inc. lifted its holdings in Ameriprise Financial by 268.8% in the second quarter. DiNuzzo Private Wealth Inc. now owns 59 shares of the financial services provider’s stock valued at $25,000 after buying an additional 43 shares during the period. Accordant Advisory Group Inc bought a new stake in Ameriprise Financial during the second quarter valued at $26,000. Redmont Wealth Advisors LLC acquired a new stake in Ameriprise Financial during the 1st quarter worth about $28,000. Finally, Mascoma Wealth Management LLC raised its position in shares of Ameriprise Financial by 153.8% in the 2nd quarter. Mascoma Wealth Management LLC now owns 66 shares of the financial services provider’s stock worth $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 Buying and Selling

In other Ameriprise Financial news, VP William Davies sold 8,700 shares of the firm’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $442.07, for a total transaction of $3,846,009.00. Following the transaction, the vice president now directly owns 13,199 shares in the company, valued at approximately $5,834,881.93. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.73% of the stock is currently owned by corporate insiders.

Ameriprise Financial Stock Up 0.4 %

Ameriprise Financial stock opened at $435.77 on Thursday. The firm has a market capitalization of $43.28 billion, a price-to-earnings ratio of 14.83, a price-to-earnings-growth ratio of 0.74 and a beta of 1.35. The firm’s fifty day moving average price is $428.25 and its two-hundred day moving average price is $426.64. Ameriprise Financial, Inc. has a 1-year low of $306.63 and a 1-year high of $450.35. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 1.16.

Ameriprise Financial (NYSE:AMP) last announced its quarterly earnings results on Wednesday, July 24th. The financial services provider reported $8.72 earnings per share for the quarter, beating the consensus estimate of $8.53 by $0.19. The business had revenue of $4.39 billion for the quarter, compared to analysts’ expectations of $4.24 billion. Ameriprise Financial had a net margin of 18.64% and a return on equity of 73.83%. The firm’s revenue for the quarter was up 9.6% compared to the same quarter last year. During the same quarter last year, the firm earned $7.44 EPS. On average, equities research analysts predict that Ameriprise Financial, Inc. will post 34.81 earnings per share for the current fiscal year.

Ameriprise Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 16th. Investors of record on Monday, August 5th were given a dividend of $1.48 per share. The ex-dividend date of this dividend was Monday, August 5th. This represents a $5.92 annualized dividend and a dividend yield of 1.36%. Ameriprise Financial’s payout ratio is 20.15%.

Analyst Upgrades and Downgrades

AMP has been the topic of several research analyst reports. Keefe, Bruyette & Woods cut their target price on Ameriprise Financial from $470.00 to $460.00 and set a “market perform” rating on the stock in a research report on Tuesday, July 30th. Piper Sandler reduced their price objective on shares of Ameriprise Financial from $390.00 to $387.00 and set an “underweight” rating for the company in a research report on Friday, June 28th. Royal Bank of Canada lifted their price objective on shares of Ameriprise Financial from $487.00 to $500.00 and gave the company an “outperform” rating in a research note on Tuesday, July 30th. Morgan Stanley cut their target price on shares of Ameriprise Financial from $444.00 to $440.00 and set an “equal weight” rating on the stock in a research note on Monday, July 29th. Finally, Jefferies Financial Group lifted their price target on shares of Ameriprise Financial from $500.00 to $504.00 and gave the company a “buy” rating in a research note on Friday, June 28th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus 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.