Mitsubishi UFJ Asset Management Co. Ltd. Has $100.10 Million Position in Ameriprise Financial, Inc. $AMP

Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 5.1% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 218,197 shares of the financial services provider’s stock after purchasing an additional 10,672 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Ameriprise Financial were worth $100,100,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. National Pension Service boosted its holdings in shares of Ameriprise Financial by 8.2% in the 4th quarter. National Pension Service now owns 165,543 shares of the financial services provider’s stock valued at $81,172,000 after buying an additional 12,563 shares during the last quarter. LSV Asset Management increased its holdings in Ameriprise Financial by 1.3% during the fourth quarter. LSV Asset Management now owns 272,018 shares of the financial services provider’s stock worth $133,381,000 after buying an additional 3,548 shares during the last quarter. PFA Pension Forsikringsaktieselskab bought a new stake in Ameriprise Financial during the fourth quarter worth $72,050,000. D.A. Davidson & CO. lifted its stake in Ameriprise Financial by 116.5% in the fourth quarter. D.A. Davidson & CO. now owns 13,380 shares of the financial services provider’s stock valued at $6,561,000 after acquiring an additional 7,200 shares during the last quarter. Finally, Norges Bank acquired a new stake in Ameriprise Financial in the fourth quarter valued at $742,438,000. Institutional investors and hedge funds own 83.95% of the company’s stock.

Insider Transactions at Ameriprise Financial

In other news, insider William Jerryl Williams sold 8,210 shares of the stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $539.35, for a total transaction of $4,428,063.50. Following the transaction, the insider owned 6,780 shares in the company, valued at approximately $3,656,793. This trade represents a 54.77% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Dawn M. Brockman sold 472 shares of Ameriprise Financial stock in a transaction that occurred 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 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 disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 29,988 shares of company stock worth $16,316,497. Insiders own 0.60% of the company’s stock.

Ameriprise Financial Stock Performance

NYSE AMP opened at $562.89 on Wednesday. The firm has a 50-day moving average of $511.57 and a 200-day moving average of $481.04. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.71 and a current ratio of 0.71. The stock has a market cap of $50.60 billion, a PE ratio of 13.58, a P/E/G ratio of 0.77 and a beta of 1.14. Ameriprise Financial, Inc. has a 52-week low of $422.37 and a 52-week high of $572.56.

Ameriprise Financial (NYSE:AMP) last announced its earnings results on Thursday, July 23rd. The financial services provider reported $11.07 EPS for the quarter, topping the consensus estimate of $10.81 by $0.26. Ameriprise Financial had a net margin of 20.24% and a return on equity of 64.19%. The business had revenue of $4.90 billion during the quarter, compared to the consensus estimate of $4.87 billion. During the same quarter in the previous year, the firm posted $9.11 EPS. Ameriprise Financial’s revenue was up 11.6% compared to the same quarter last year. On average, sell-side analysts anticipate that Ameriprise Financial, Inc. will post 46.12 EPS for the current year.

Ameriprise Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 21st. Shareholders of record on Monday, August 3rd will be given a dividend of $1.70 per share. The ex-dividend date is Monday, August 3rd. This represents a $6.80 annualized dividend and a yield of 1.2%. Ameriprise Financial’s dividend payout ratio (DPR) is 16.40%.

Analyst Ratings Changes

Several brokerages recently issued reports on AMP. BMO Capital Markets raised their target price on shares of Ameriprise Financial from $470.00 to $490.00 and gave the company a “market perform” rating in a research note on Friday, April 24th. Jefferies Financial Group boosted their price target on Ameriprise Financial from $636.00 to $645.00 and gave the stock a “buy” rating in a research report on Friday, July 10th. Zacks Research upgraded Ameriprise Financial from a “hold” rating to a “strong-buy” rating in a research note on Monday, July 27th. Piper Sandler raised their price objective on Ameriprise Financial from $471.00 to $518.00 and gave the company a “neutral” rating in a research report on Monday, July 13th. Finally, Weiss Ratings upgraded Ameriprise Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, July 17th. Two equities research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $555.33.

About Ameriprise Financial

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.