Daiwa Securities Group Inc. Acquires 85 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

Daiwa Securities Group Inc. lifted its stake in Ameriprise Financial, Inc. (NYSE:AMP) by 0.7% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 12,081 shares of the financial services provider’s stock after purchasing an additional 85 shares during the period. Daiwa Securities Group Inc.’s holdings in Ameriprise Financial were worth $5,676,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the stock. Advisors Asset Management Inc. grew its position in shares of Ameriprise Financial by 29.9% during the 1st quarter. Advisors Asset Management Inc. now owns 1,585 shares of the financial services provider’s stock worth $695,000 after buying an additional 365 shares during the period. B. Riley Wealth Advisors Inc. boosted its stake in Ameriprise Financial by 33.4% during the 1st 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 during the last quarter. Tidal Investments LLC boosted its stake in 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 acquiring an additional 268 shares during the last quarter. Hancock Whitney Corp grew its holdings in Ameriprise Financial by 2.5% during the first quarter. Hancock Whitney Corp now owns 2,049 shares of the financial services provider’s stock valued at $898,000 after purchasing an additional 49 shares during the period. Finally, LBP AM SA increased its stake in Ameriprise Financial by 52.4% in the first quarter. LBP AM SA now owns 5,623 shares of the financial services provider’s stock valued at $2,465,000 after purchasing an additional 1,933 shares in the last quarter. 83.95% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Insider Activity at Ameriprise Financial

In related news, VP William Davies sold 8,700 shares of the firm’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $442.07, for a total value of $3,846,009.00. Following the completion of the transaction, the vice president now directly owns 13,199 shares of the company’s stock, valued at approximately $5,834,881.93. This trade represents a 39.73 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Walter Stanley Berman sold 8,655 shares of the business’s stock in a transaction 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 transaction, the chief financial officer now owns 6,409 shares in the company, valued at approximately $3,615,701.44. The trade was a 57.45 % 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 valued at $15,829,445. Corporate insiders own 0.96% of the company’s stock.

Ameriprise Financial Trading Up 0.7 %

NYSE:AMP opened at $574.12 on Wednesday. The company has a market cap of $55.70 billion, a P/E ratio of 22.04, a price-to-earnings-growth ratio of 1.00 and a beta of 1.34. Ameriprise Financial, Inc. has a twelve month low of $345.43 and a twelve month high of $577.00. The business has a 50 day moving average price of $514.51 and a two-hundred day moving average price of $460.28. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.99.

Ameriprise Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Monday, November 4th were issued a dividend of $1.48 per share. This represents a $5.92 annualized dividend and a yield of 1.03%. The ex-dividend date of this dividend was Monday, November 4th. Ameriprise Financial’s payout ratio is 22.73%.

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.