Mitsubishi UFJ Asset Management Co. Ltd. Has $92.59 Million Stock Holdings in Ameriprise Financial, Inc. $AMP

Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in Ameriprise Financial, Inc. (NYSE:AMP) by 3.4% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 188,476 shares of the financial services provider’s stock after buying an additional 6,180 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.20% of Ameriprise Financial worth $92,589,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Brighton Jones LLC grew its position in shares of Ameriprise Financial by 6.9% in the fourth quarter. Brighton Jones LLC now owns 777 shares of the financial services provider’s stock valued at $413,000 after purchasing an additional 50 shares during the last quarter. Empowered Funds LLC grew its holdings in Ameriprise Financial by 11.8% in the 1st quarter. Empowered Funds LLC now owns 6,022 shares of the financial services provider’s stock valued at $2,915,000 after buying an additional 634 shares in the last quarter. Sivia Capital Partners LLC increased its position in Ameriprise Financial by 14.1% during the 2nd quarter. Sivia Capital Partners LLC now owns 584 shares of the financial services provider’s stock worth $312,000 after buying an additional 72 shares during the period. Schnieders Capital Management LLC. acquired a new stake in shares of Ameriprise Financial during the second quarter worth $313,000. Finally, Ashton Thomas Private Wealth LLC bought a new stake in shares of Ameriprise Financial in the second quarter valued at about $217,000. 83.95% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on AMP. Keefe, Bruyette & Woods lowered their price target on shares of Ameriprise Financial from $550.00 to $530.00 and set a “market perform” rating on the stock in a research report on Monday, November 3rd. Raymond James Financial set a $582.00 target price on shares of Ameriprise Financial and gave the stock a “strong-buy” rating in a research report on Wednesday, February 11th. Piper Sandler upgraded shares of Ameriprise Financial from an “underweight” rating to a “neutral” rating and lifted their price target for the company from $434.00 to $530.00 in a research report on Friday, January 30th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $605.00 price target (up from $580.00) on shares of Ameriprise Financial in a research note on Monday, February 2nd. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Ameriprise Financial in a research note on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $555.67.

Insider Activity at Ameriprise Financial

In other news, insider Gumer Alvero sold 4,658 shares of the firm’s stock in a transaction that occurred on Monday, February 9th. The shares were sold at an average price of $542.88, for a total value of $2,528,735.04. Following the sale, the insider directly owned 4,621 shares in the company, valued at approximately $2,508,648.48. This trade represents a 50.20% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Walter Stanley Berman sold 7,000 shares of Ameriprise Financial stock in a transaction that occurred on Thursday, February 5th. The shares were sold at an average price of $544.22, for a total transaction of $3,809,540.00. Following the sale, the chief financial officer directly owned 5,609 shares in the company, valued at $3,052,529.98. This trade represents a 55.52% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 16,658 shares of company stock valued at $8,998,675 over the last ninety days. 0.73% of the stock is owned by corporate insiders.

Ameriprise Financial Stock Performance

NYSE AMP opened at $468.96 on Friday. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 0.86. The firm has a market capitalization of $42.76 billion, a price-to-earnings ratio of 12.90, a P/E/G ratio of 1.13 and a beta of 1.26. The firm’s 50 day simple moving average is $498.99 and its 200 day simple moving average is $488.61. Ameriprise Financial, Inc. has a 1 year low of $396.14 and a 1 year high of $550.18.

Ameriprise Financial (NYSE:AMP) last released its earnings results on Thursday, January 29th. The financial services provider reported $10.83 earnings per share for the quarter, topping the consensus estimate of $10.33 by $0.50. The firm had revenue of $4.92 billion during the quarter, compared to analysts’ expectations of $4.75 billion. Ameriprise Financial had a return on equity of 63.04% and a net margin of 19.28%.The company’s quarterly revenue was up 10.2% on a year-over-year basis. During the same period in the prior year, the company earned $9.54 earnings per share. As a group, research analysts expect that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current fiscal year.

Ameriprise Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 27th. Investors of record on Monday, February 9th were given a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a dividend yield of 1.4%. The ex-dividend date was Monday, February 9th. Ameriprise Financial’s dividend payout ratio is currently 17.60%.

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.