Ameriprise Financial, Inc. (NYSE:AMP) Stock Position Lifted by Dai ichi Life Insurance Company Ltd

Dai ichi Life Insurance Company Ltd boosted its stake in Ameriprise Financial, Inc. (NYSE:AMP) by 369.5% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,812 shares of the financial services provider’s stock after buying an additional 3,000 shares during the quarter. Dai ichi Life Insurance Company Ltd’s holdings in Ameriprise Financial were worth $1,791,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. B. Riley Wealth Advisors Inc. raised its holdings in shares of Ameriprise Financial by 33.4% during the first quarter. B. Riley Wealth Advisors Inc. now owns 4,238 shares of the financial services provider’s stock worth $1,858,000 after acquiring an additional 1,062 shares in the last quarter. Tidal Investments LLC raised its stake in shares of Ameriprise Financial by 9.3% during the 1st quarter. Tidal Investments LLC now owns 3,153 shares of the financial services provider’s stock worth $1,382,000 after purchasing an additional 268 shares in the last quarter. Hancock Whitney Corp lifted its holdings in shares of Ameriprise Financial by 2.5% during the 1st quarter. Hancock Whitney Corp now owns 2,049 shares of the financial services provider’s stock valued at $898,000 after buying an additional 49 shares during the last quarter. iA Global Asset Management Inc. grew its stake in shares of Ameriprise Financial by 46.6% in the 1st quarter. iA Global Asset Management Inc. now owns 5,401 shares of the financial services provider’s stock valued at $2,368,000 after buying an additional 1,717 shares in the last quarter. Finally, LRI Investments LLC acquired a new position in Ameriprise Financial in the first quarter worth approximately $276,000. Institutional investors and hedge funds own 83.95% of the company’s stock.

Ameriprise Financial Stock Down 0.4 %

AMP opened at $571.89 on Thursday. Ameriprise Financial, Inc. has a 1-year low of $345.43 and a 1-year high of $577.00. The business has a 50 day moving average of $516.92 and a 200-day moving average of $461.06. The stock has a market capitalization of $55.48 billion, a price-to-earnings ratio of 21.95, a P/E/G ratio of 0.99 and a beta of 1.34. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.99.

Ameriprise Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Monday, November 4th were given a dividend of $1.48 per share. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.04%. The ex-dividend date of this dividend was Monday, November 4th. Ameriprise Financial’s dividend payout ratio is currently 22.73%.

Wall Street Analysts Forecast Growth

Several research firms have commented on AMP. UBS Group boosted their target price on shares of Ameriprise Financial from $490.00 to $555.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. Royal Bank of Canada raised their target price on Ameriprise Financial from $535.00 to $550.00 and gave the company an “outperform” rating in a report on Friday, October 25th. Keefe, Bruyette & Woods increased their price objective on Ameriprise Financial from $475.00 to $510.00 and gave the company a “market perform” rating in a report on Tuesday, October 29th. Morgan Stanley raised their price objective on Ameriprise Financial from $440.00 to $502.00 and gave the company an “equal weight” rating in a research note on Thursday, October 17th. Finally, The Goldman Sachs Group cut Ameriprise Financial from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $485.00 to $476.00 in a research report on Thursday, September 26th. One analyst has rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $487.67.

Insider Activity at Ameriprise Financial

In other news, CFO Walter Stanley Berman sold 8,655 shares of Ameriprise Financial stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $564.16, for a total transaction of $4,882,804.80. Following the sale, the chief financial officer now owns 6,409 shares of the company’s stock, valued at approximately $3,615,701.44. This trade represents a 57.45 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Gumer Alvero sold 2,325 shares of the firm’s stock in a transaction on Thursday, October 31st. The stock was sold at an average price of $516.05, for a total value of $1,199,816.25. Following the completion of the transaction, the insider now directly owns 4,669 shares of the company’s stock, valued at approximately $2,409,437.45. This trade represents a 33.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 30,415 shares of company stock worth $15,829,445. Company insiders own 0.96% of the company’s stock.

About Ameriprise Financial

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.