Ameriprise Financial, Inc. $AMP Stock Acquired by Rakuten Investment Management Inc.

Rakuten Investment Management Inc. lifted its position in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 8.2% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 15,956 shares of the financial services provider’s stock after buying an additional 1,207 shares during the period. Rakuten Investment Management Inc.’s holdings in Ameriprise Financial were worth $7,935,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Avail Investment Partners LLC lifted its holdings in Ameriprise Financial by 2.6% in the third quarter. Avail Investment Partners LLC now owns 800 shares of the financial services provider’s stock valued at $394,000 after acquiring an additional 20 shares during the last quarter. Novem Group grew its position in Ameriprise Financial by 0.9% in the third quarter. Novem Group now owns 2,303 shares of the financial services provider’s stock worth $1,134,000 after acquiring an additional 21 shares during the period. North Dakota State Investment Board increased its stake in Ameriprise Financial by 0.9% during the second quarter. North Dakota State Investment Board now owns 2,716 shares of the financial services provider’s stock worth $1,246,000 after acquiring an additional 24 shares during the last quarter. HBK Sorce Advisory LLC increased its stake in Ameriprise Financial by 2.8% during the second quarter. HBK Sorce Advisory LLC now owns 892 shares of the financial services provider’s stock worth $409,000 after acquiring an additional 24 shares during the last quarter. Finally, Fulton Bank N.A. increased its stake in Ameriprise Financial by 0.4% during the second quarter. Fulton Bank N.A. now owns 6,688 shares of the financial services provider’s stock worth $3,068,000 after acquiring an additional 25 shares during the last quarter. Institutional investors and hedge funds own 83.95% of the company’s stock.

Insider Buying and Selling at Ameriprise Financial

In other news, SVP Dawn Brockman sold 472 shares of Ameriprise Financial stock in a transaction on Monday, August 10th. The stock was sold at an average price of $558.93, for a total value of $263,814.96. Following the completion of the sale, the senior vice president directly owned 713 shares of the company’s stock, valued at approximately $398,517.09. The trade was a 39.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.60% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Piper Sandler lifted their target price on Ameriprise Financial from $518.00 to $561.00 in a research report on Thursday, July 23rd. Raymond James Financial increased their price target on Ameriprise Financial from $582.00 to $638.00 and gave the stock a “strong-buy” rating in a report on Friday, August 21st. Jefferies Financial Group cut their price objective on Ameriprise Financial from $645.00 to $638.00 in a research report on Monday, October 12th. Weiss Ratings upgraded shares of Ameriprise Financial from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday, September 3rd. Finally, Zacks Research lowered shares of Ameriprise Financial from a “strong-buy” rating to a “hold” rating in a report on Monday, September 21st. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $557.00.

Ameriprise Financial Stock Performance

NYSE:AMP opened at $508.90 on Friday. Ameriprise Financial, Inc. has a fifty-two week low of $422.37 and a fifty-two week high of $572.56. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.71 and a current ratio of 0.68. The company has a 50 day moving average price of $515.70 and a 200 day moving average price of $493.11. The stock has a market capitalization of $44.18 billion, a P/E ratio of 11.45, a PEG ratio of 1.12 and a beta of 1.13.

Ameriprise Financial (NYSE:AMP) last announced its earnings results on Thursday, October 29th. The financial services provider reported $11.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $11.77 by ($0.51). The firm had revenue of $5.08 billion during the quarter, compared to analysts’ expectations of $5.10 billion. Ameriprise Financial had a net margin of 20.99% and a return on equity of 69.94%. The firm’s revenue for the quarter was up 6.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $9.92 EPS. Equities research analysts forecast that Ameriprise Financial, Inc. will post 46.29 EPS for the current year.

Ameriprise Financial declared that its Board of Directors has approved a share repurchase plan on Tuesday, September 29th that permits the company to repurchase $5.50 billion in shares. This buyback authorization permits the financial services provider to purchase up to 12.3% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board of directors believes its shares are undervalued.

Ameriprise Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 27th. Stockholders of record on Monday, November 9th will be given a dividend of $1.70 per share. This represents a $6.80 annualized dividend and a dividend yield of 1.3%. The ex-dividend date is Monday, November 9th. Ameriprise Financial’s dividend payout ratio (DPR) is currently 15.30%.

About Ameriprise Financial

Ameriprise Financial, Inc (NYSE:AMP) is a diversified financial services company that provides advice, wealth management, asset management, insurance and retirement solutions. Through its network of financial advisors and digital platforms, the company serves individuals, families, businesses and institutions with financial planning, investment management and related services.

Its products and services include brokerage and advisory accounts, mutual funds and exchange-traded funds, retirement plans, annuities, life and long-term care insurance, banking services and financial planning.