Nomura Asset Management Co. Ltd. lifted its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 3.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 21,403 shares of the financial services provider’s stock after acquiring an additional 749 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in Ameriprise Financial were worth $3,179,000 at the end of the most recent reporting period.
Several other large investors also recently made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in Ameriprise Financial by 2.7% in the 2nd quarter. Vanguard Group Inc. now owns 12,744,678 shares of the financial services provider’s stock worth $1,622,270,000 after purchasing an additional 340,206 shares during the period. LSV Asset Management boosted its stake in Ameriprise Financial by 4.4% in the 2nd quarter. LSV Asset Management now owns 2,739,924 shares of the financial services provider’s stock worth $348,764,000 after purchasing an additional 116,706 shares during the period. Wells Fargo & Company MN boosted its stake in Ameriprise Financial by 4.1% in the 3rd quarter. Wells Fargo & Company MN now owns 2,195,435 shares of the financial services provider’s stock worth $326,044,000 after purchasing an additional 86,514 shares during the period. American Century Companies Inc. boosted its stake in Ameriprise Financial by 21.6% in the 2nd quarter. American Century Companies Inc. now owns 1,905,436 shares of the financial services provider’s stock worth $242,543,000 after purchasing an additional 338,452 shares during the period. Finally, Numeric Investors LLC boosted its stake in Ameriprise Financial by 1.6% in the 2nd quarter. Numeric Investors LLC now owns 1,151,413 shares of the financial services provider’s stock worth $146,563,000 after purchasing an additional 17,700 shares during the period. Institutional investors own 81.51% of the company’s stock.
Ameriprise Financial, Inc. (AMP) traded up $169.91 during trading hours on Tuesday, reaching $169.91. The company had a trading volume of 761,900 shares, compared to its average volume of 716,000. Ameriprise Financial, Inc. has a one year low of $110.56 and a one year high of $173.62. The stock has a market cap of $25,069.70, a price-to-earnings ratio of 15.85 and a beta of 1.93. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.82.
Ameriprise Financial (NYSE:AMP) last released its quarterly earnings results on Tuesday, October 24th. The financial services provider reported $3.12 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.79 by $0.33. Ameriprise Financial had a return on equity of 29.75% and a net margin of 14.24%. The company had revenue of $3 billion for the quarter, compared to analyst estimates of $2.97 billion. During the same quarter in the prior year, the firm posted $2.29 EPS. Ameriprise Financial’s quarterly revenue was up 6.3% compared to the same quarter last year. analysts anticipate that Ameriprise Financial, Inc. will post 12.14 earnings per share for the current fiscal year.
In other Ameriprise Financial news, CEO James M. Cracchiolo sold 2,428 shares of the stock in a transaction on Tuesday, November 7th. The stock was sold at an average price of $161.07, for a total value of $391,077.96. Following the sale, the chief executive officer now owns 242,013 shares in the company, valued at $38,981,033.91. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Joseph Edward Sweeney sold 7,329 shares of the stock in a transaction on Friday, December 8th. The stock was sold at an average price of $169.47, for a total value of $1,242,045.63. Following the completion of the sale, the insider now owns 37,991 shares in the company, valued at approximately $6,438,334.77. The disclosure for this sale can be found here. Insiders have sold a total of 72,466 shares of company stock worth $11,708,801 in the last 90 days. 1.50% of the stock is currently owned by insiders.
Several analysts have recently issued reports on the company. SunTrust Banks upped their price objective on Ameriprise Financial from $140.00 to $165.00 and gave the stock a “hold” rating in a report on Thursday, October 26th. Zacks Investment Research cut Ameriprise Financial from a “buy” rating to a “hold” rating in a report on Tuesday, September 26th. Barclays reaffirmed an “equal weight” rating on shares of Ameriprise Financial in a report on Monday, October 2nd. Royal Bank of Canada set a $168.00 price objective on Ameriprise Financial and gave the stock a “hold” rating in a report on Saturday, December 16th. Finally, Morgan Stanley upped their price objective on Ameriprise Financial from $152.00 to $162.00 and gave the stock an “overweight” rating in a report on Thursday, October 5th. Five analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $155.64.
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About Ameriprise Financial
Ameriprise Financial, Inc is a financial services company that offers financial solutions to individual and institutional clients. The Company operates in five segments: Advice & Wealth Management; Asset Management; Annuities; Protection, and Corporate & Other. The Company uses Ameriprise Financial as its enterprise brand, as well as the name of its advisor network and certain of its retail products and services.
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