Mitsubishi UFJ Trust & Banking Corp Grows Stock Position in Ameriprise Financial, Inc. $AMP

Mitsubishi UFJ Trust & Banking Corp lifted its position in Ameriprise Financial, Inc. (NYSE:AMP) by 52.2% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 100,138 shares of the financial services provider’s stock after acquiring an additional 34,347 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in Ameriprise Financial were worth $49,193,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently added to or reduced their stakes in AMP. Vanguard Group Inc. boosted its stake in Ameriprise Financial by 0.9% during the 2nd quarter. Vanguard Group Inc. now owns 12,432,261 shares of the financial services provider’s stock worth $6,635,471,000 after purchasing an additional 111,386 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of Ameriprise Financial by 7.7% in the second quarter. JPMorgan Chase & Co. now owns 6,270,995 shares of the financial services provider’s stock valued at $3,347,019,000 after buying an additional 446,080 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Ameriprise Financial by 1.7% in the second quarter. Geode Capital Management LLC now owns 2,818,428 shares of the financial services provider’s stock worth $1,500,115,000 after buying an additional 47,584 shares in the last quarter. Norges Bank acquired a new position in Ameriprise Financial during the second quarter worth about $693,736,000. Finally, Boston Partners boosted its position in Ameriprise Financial by 3.1% during the second quarter. Boston Partners now owns 1,179,876 shares of the financial services provider’s stock worth $629,650,000 after acquiring an additional 35,500 shares during the last quarter. 83.95% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have weighed in on AMP. Keefe, Bruyette & Woods decreased their target price on shares of Ameriprise Financial from $550.00 to $530.00 and set a “market perform” rating on the stock in a research note on Monday, November 3rd. BMO Capital Markets started coverage on Ameriprise Financial in a report on Friday, October 3rd. They issued a “market perform” rating and a $525.00 price target for the company. Evercore ISI reduced their price objective on Ameriprise Financial from $587.00 to $570.00 and set an “in-line” rating on the stock in a research report on Thursday, October 9th. Weiss Ratings restated a “buy (b-)” rating on shares of Ameriprise Financial in a report on Monday, December 29th. Finally, Morgan Stanley raised their target price on Ameriprise Financial from $484.00 to $485.00 and gave the stock an “underweight” rating in a research note on Monday, December 22nd. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $528.75.

Insider Activity at Ameriprise Financial

In related news, Director Robert Francis Sharpe, Jr. sold 1,500 shares of the company’s stock in a transaction that occurred on Friday, November 21st. The shares were sold at an average price of $450.94, for a total transaction of $676,410.00. Following the sale, the director directly owned 7,500 shares of the company’s stock, valued at $3,382,050. This represents a 16.67% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.73% of the company’s stock.

Ameriprise Financial Price Performance

AMP stock opened at $496.29 on Friday. Ameriprise Financial, Inc. has a 52-week low of $396.14 and a 52-week high of $582.05. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 0.88. The stock has a market cap of $46.11 billion, a price-to-earnings ratio of 13.61, a price-to-earnings-growth ratio of 1.28 and a beta of 1.26. The business has a fifty day moving average of $484.70 and a two-hundred day moving average of $492.92.

Ameriprise Financial (NYSE:AMP) last released its quarterly earnings results on Thursday, October 30th. The financial services provider reported $9.92 earnings per share for the quarter, topping analysts’ consensus estimates of $9.76 by $0.16. The business had revenue of $4.73 billion during the quarter, compared to analysts’ expectations of $4.51 billion. Ameriprise Financial had a return on equity of 64.97% and a net margin of 20.12%.The company’s revenue was up 9.0% compared to the same quarter last year. During the same period in the prior year, the business posted $9.02 EPS. As a group, research analysts anticipate that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current year.

Ameriprise Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, November 24th. Stockholders of record on Monday, November 10th were given a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a dividend yield of 1.3%. The ex-dividend date of this dividend was Monday, November 10th. Ameriprise Financial’s dividend payout ratio is currently 17.55%.

Ameriprise Financial Company Profile

Ameriprise Financial, Inc is a diversified financial services company headquartered in Minneapolis, Minnesota. The firm provides a range of advice-based wealth management, asset management and insurance products to individual and institutional clients. Its business model centers on delivering financial planning and investment advice through a network of financial advisors alongside proprietary product offerings designed to meet retirement, protection and accumulation needs.

Core products and services include comprehensive financial planning and advisory services, managed investment portfolios, retirement planning solutions, annuities and life insurance products.