Meiji Yasuda Life Insurance Co Has $1.35 Million Stock Position in Ameriprise Financial, Inc. (NYSE:AMP)

Meiji Yasuda Life Insurance Co lifted its position in Ameriprise Financial, Inc. (NYSE:AMP) by 2.9% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 2,529 shares of the financial services provider’s stock after buying an additional 71 shares during the quarter. Meiji Yasuda Life Insurance Co’s holdings in Ameriprise Financial were worth $1,347,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in AMP. Anchor Investment Management LLC grew its position in shares of Ameriprise Financial by 3,275.0% in the third quarter. Anchor Investment Management LLC now owns 270 shares of the financial services provider’s stock valued at $127,000 after purchasing an additional 262 shares during the last quarter. World Investment Advisors LLC bought a new position in Ameriprise Financial in the 3rd quarter worth approximately $659,000. Wilmington Savings Fund Society FSB raised its position in Ameriprise Financial by 339.4% in the 3rd quarter. Wilmington Savings Fund Society FSB now owns 5,014 shares of the financial services provider’s stock worth $2,356,000 after purchasing an additional 3,873 shares during the last quarter. Tidal Investments LLC increased its holdings in Ameriprise Financial by 1.2% in the third quarter. Tidal Investments LLC now owns 3,232 shares of the financial services provider’s stock valued at $1,518,000 after purchasing an additional 37 shares during the last quarter. Finally, Synovus Financial Corp boosted its holdings in Ameriprise Financial by 1.4% during the third quarter. Synovus Financial Corp now owns 2,812 shares of the financial services provider’s stock worth $1,321,000 after buying an additional 38 shares during the last quarter. 83.95% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Keefe, Bruyette & Woods reduced their target price on Ameriprise Financial from $520.00 to $510.00 and set a “market perform” rating on the stock in a report on Tuesday. UBS Group lowered Ameriprise Financial from a “buy” rating to a “neutral” rating and dropped their target price for the company from $580.00 to $570.00 in a research report on Monday, January 6th. Morgan Stanley boosted their price target on Ameriprise Financial from $507.00 to $542.00 and gave the stock an “equal weight” rating in a research report on Tuesday, March 4th. Royal Bank of Canada boosted their price target on Ameriprise Financial from $550.00 to $565.00 and gave the stock an “outperform” rating in a research report on Tuesday. Finally, Piper Sandler boosted their target price on Ameriprise Financial from $415.00 to $442.00 and gave the stock an “underweight” rating in a report on Friday, January 31st. One investment analyst has rated the stock with a sell rating, four have given a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $509.67.

Insider Buying and Selling at Ameriprise Financial

In other news, Director Robert Francis Sharpe, Jr. sold 1,000 shares of the stock in a transaction on Wednesday, February 12th. The stock was 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 owns 10,000 shares in the company, valued at approximately $5,231,200. This represents a 9.09 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Joseph Edward Sweeney sold 4,636 shares of the company’s stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $539.07, for a total value of $2,499,128.52. Following the completion of the transaction, the insider now directly owns 7,237 shares in the company, valued at approximately $3,901,249.59. The trade was a 39.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 11,636 shares of company stock worth $6,263,989 over the last 90 days. 0.57% of the stock is owned by insiders.

Ameriprise Financial Stock Down 0.0 %

Shares of NYSE:AMP opened at $470.84 on Friday. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.59 and a quick ratio of 0.59. Ameriprise Financial, Inc. has a 1 year low of $385.74 and a 1 year high of $582.05. The stock’s 50-day moving average is $481.46 and its 200 day moving average is $521.33. The company has a market cap of $45.11 billion, a PE ratio of 14.24, a P/E/G ratio of 1.15 and a beta of 1.23.

Ameriprise Financial (NYSE:AMP) last posted its quarterly earnings results on Thursday, April 24th. The financial services provider reported $9.50 earnings per share for the quarter, topping the consensus estimate of $9.08 by $0.42. The firm had revenue of $4.35 billion during the quarter, compared to analysts’ expectations of $4.45 billion. Ameriprise Financial had a return on equity of 69.35% and a net margin of 19.70%. The company’s revenue was up 3.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $8.39 earnings per share. Sell-side analysts anticipate that Ameriprise Financial, Inc. will post 38.64 EPS for the current year.

Ameriprise Financial Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, May 19th. Investors of record on Monday, May 5th will be given a dividend of $1.60 per share. This is a positive change from Ameriprise Financial’s previous quarterly dividend of $1.48. The ex-dividend date of this dividend is Monday, May 5th. This represents a $6.40 dividend on an annualized basis and a dividend yield of 1.36%. Ameriprise Financial’s dividend payout ratio is currently 21.75%.

Ameriprise Financial announced that its board has approved a share buyback plan on Thursday, April 24th that allows the company to buyback $4.50 billion in outstanding shares. This buyback authorization allows the financial services provider to purchase up to 9.9% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s leadership believes its shares are undervalued.

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.