Ameriprise Financial, Inc. (NYSE:AMP) Shares Acquired by Dai ichi Life Insurance Company Ltd

Dai ichi Life Insurance Company Ltd increased its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 369.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,812 shares of the financial services provider’s stock after buying an additional 3,000 shares during the quarter. Dai ichi Life Insurance Company Ltd’s holdings in Ameriprise Financial were worth $1,791,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company grew its position in shares of Ameriprise Financial by 144.0% during the third quarter. The Manufacturers Life Insurance Company now owns 243,385 shares of the financial services provider’s stock worth $114,345,000 after acquiring an additional 143,648 shares during the last quarter. Private Trust Co. NA grew its position in Ameriprise Financial by 21.0% in the 3rd quarter. Private Trust Co. NA now owns 870 shares of the financial services provider’s stock worth $409,000 after purchasing an additional 151 shares during the last quarter. Hancock Whitney Corp increased its stake in shares of Ameriprise Financial by 4.4% in the third quarter. Hancock Whitney Corp now owns 2,704 shares of the financial services provider’s stock valued at $1,270,000 after purchasing an additional 115 shares during the period. Daiwa Securities Group Inc. raised its holdings in shares of Ameriprise Financial by 0.7% during the third quarter. Daiwa Securities Group Inc. now owns 12,081 shares of the financial services provider’s stock valued at $5,676,000 after buying an additional 85 shares during the last quarter. Finally, Summit Trail Advisors LLC boosted its position in shares of Ameriprise Financial by 29.7% during the third quarter. Summit Trail Advisors LLC now owns 825 shares of the financial services provider’s stock worth $387,000 after buying an additional 189 shares during the period. 83.95% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Insider Activity

In related news, insider Gumer Alvero sold 2,325 shares of the company’s stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $516.05, for a total value of $1,199,816.25. Following the completion of the sale, the insider now owns 4,669 shares in the company, valued at approximately $2,409,437.45. This represents a 33.24 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP William Davies sold 8,700 shares of Ameriprise Financial stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $442.07, for a total transaction of $3,846,009.00. Following the transaction, the vice president now owns 13,199 shares in the company, valued at approximately $5,834,881.93. The trade was a 39.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 30,415 shares of company stock valued at $15,829,445 over the last three months. Insiders own 0.96% of the company’s stock.

Ameriprise Financial Trading Down 0.4 %

Ameriprise Financial stock opened at $571.89 on Thursday. Ameriprise Financial, Inc. has a 1 year low of $345.43 and a 1 year high of $577.00. The firm’s 50 day moving average price is $516.92 and its two-hundred day moving average price is $461.06. The firm has a market cap of $55.48 billion, a price-to-earnings ratio of 21.95, a price-to-earnings-growth ratio of 0.99 and a beta of 1.34. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.65 and a current ratio of 0.65.

Ameriprise Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Monday, November 4th were given a dividend of $1.48 per share. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.04%. The ex-dividend date was Monday, November 4th. Ameriprise Financial’s dividend payout ratio (DPR) is presently 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.