Nippon Life Global Investors Americas Inc. Cuts Position in Ameriprise Financial, Inc. (NYSE:AMP)

Nippon Life Global Investors Americas Inc. lowered its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 10.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 28,110 shares of the financial services provider’s stock after selling 3,190 shares during the period. Nippon Life Global Investors Americas Inc.’s holdings in Ameriprise Financial were worth $14,967,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. TCTC Holdings LLC purchased a new stake in shares of Ameriprise Financial in the 4th quarter worth about $26,000. Rialto Wealth Management LLC acquired a new position in Ameriprise Financial during the fourth quarter worth about $28,000. Whipplewood Advisors LLC acquired a new stake in shares of Ameriprise Financial in the fourth quarter valued at approximately $28,000. Wingate Wealth Advisors Inc. purchased a new position in shares of Ameriprise Financial during the 4th quarter worth approximately $30,000. Finally, Sound Income Strategies LLC purchased a new stake in Ameriprise Financial in the 4th quarter valued at approximately $36,000. 83.95% of the stock is currently owned by institutional investors and hedge funds.

Ameriprise Financial Price Performance

AMP stock opened at $451.75 on Tuesday. The stock has a 50-day moving average price of $492.90 and a two-hundred day moving average price of $523.00. The company has a market cap of $43.28 billion, a PE ratio of 13.66, a price-to-earnings-growth ratio of 1.15 and a beta of 1.23. 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 12-month low of $385.74 and a 12-month high of $582.05.

Ameriprise Financial (NYSE:AMP) last posted its earnings results on Wednesday, January 29th. The financial services provider reported $9.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $9.16 by $0.20. Ameriprise Financial had a net margin of 19.70% and a return on equity of 69.35%. As a group, research analysts predict that Ameriprise Financial, Inc. will post 38.64 EPS for the current year.

Ameriprise Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Monday, February 10th were issued a $1.48 dividend. The ex-dividend date of this dividend was Monday, February 10th. This represents a $5.92 annualized dividend and a yield of 1.31%. Ameriprise Financial’s dividend payout ratio is currently 17.91%.

Insider Buying and Selling at Ameriprise Financial

In related news, Director Robert Francis Sharpe, Jr. sold 1,000 shares of the firm’s stock in a transaction on Wednesday, February 12th. The shares were sold at an average price of $523.12, for a total transaction of $523,120.00. Following the completion of the sale, the director now directly owns 10,000 shares of the company’s stock, valued at approximately $5,231,200. This trade represents a 9.09 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Joseph Edward Sweeney sold 4,636 shares of Ameriprise Financial stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $539.07, for a total transaction of $2,499,128.52. Following the sale, the insider now directly owns 7,237 shares in the company, valued at $3,901,249.59. This trade 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 over the last three months. 0.73% of the stock is owned by company insiders.

Analyst Ratings Changes

AMP has been the subject of a number of analyst reports. Piper Sandler boosted their price target on Ameriprise Financial from $415.00 to $442.00 and gave the stock an “underweight” rating in a report on Friday, January 31st. Royal Bank of Canada restated an “outperform” rating and issued a $625.00 target price on shares of Ameriprise Financial in a report on Monday, February 3rd. UBS Group downgraded shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $580.00 to $570.00 in a research note on Monday, January 6th. Raymond James upgraded Ameriprise Financial from a “market perform” rating to a “strong-buy” rating and set a $518.00 price target for the company in a report on Monday, April 7th. Finally, Keefe, Bruyette & Woods lowered their price objective on Ameriprise Financial from $570.00 to $520.00 and set a “market perform” rating for the company in a research report on Wednesday, April 9th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Ameriprise Financial has a consensus rating of “Hold” and a consensus price target of $517.44.

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.