Mitsubishi UFJ Trust & Banking Corp Has $58.19 Million Stock Holdings in Ameriprise Financial, Inc. $AMP

Mitsubishi UFJ Trust & Banking Corp lifted its position in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 10.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 126,831 shares of the financial services provider’s stock after purchasing an additional 12,183 shares during the period. Mitsubishi UFJ Trust & Banking Corp owned about 0.14% of Ameriprise Financial worth $58,185,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in AMP. SouthState Bank Corp boosted its position in Ameriprise Financial by 78.6% during the 4th quarter. SouthState Bank Corp now owns 50 shares of the financial services provider’s stock worth $25,000 after buying an additional 22 shares during the period. University of Texas Texas AM Investment Management Co. acquired a new position in Ameriprise Financial in the 2nd quarter valued at approximately $28,000. Cassaday & Co Wealth Management LLC acquired a new position in Ameriprise Financial in the 1st quarter valued at approximately $28,000. Ares Financial Consulting LLC bought a new position in shares of Ameriprise Financial during the fourth quarter valued at $32,000. Finally, WFA of San Diego LLC bought a new position in shares of Ameriprise Financial during the second quarter valued at $36,000. Institutional investors and hedge funds own 83.95% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Deirdre Davey Mcgraw sold 2,400 shares of the business’s stock in a transaction on Thursday, August 6th. The shares were sold at an average price of $558.28, for a total transaction of $1,339,872.00. Following the transaction, the executive vice president owned 3,373 shares in the company, valued at $1,883,078.44. The trade was a 41.57% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Walter Stanley Berman sold 11,012 shares of the business’s stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $548.95, for a total transaction of $6,045,037.40. Following the transaction, the chief financial officer owned 5,609 shares in the company, valued at $3,079,060.55. The trade was a 66.25% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 29,988 shares of company stock valued at $16,316,497 over the last 90 days. 0.60% of the stock is currently owned by corporate insiders.

Ameriprise Financial Stock Down 0.1%

Shares of NYSE:AMP opened at $570.06 on Friday. Ameriprise Financial, Inc. has a 1 year low of $422.37 and a 1 year high of $572.56. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.71 and a quick ratio of 0.71. The business’s 50-day moving average is $507.03 and its 200-day moving average is $480.30. The company has a market capitalization of $51.25 billion, a price-to-earnings ratio of 13.75, a P/E/G ratio of 0.77 and a beta of 1.14.

Ameriprise Financial (NYSE:AMP) last released 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. The business had revenue of $4.90 billion during the quarter, compared to analysts’ expectations of $4.87 billion. Ameriprise Financial had a return on equity of 64.19% and a net margin of 20.24%.The firm’s revenue was up 11.6% on a year-over-year basis. During the same quarter last year, the firm posted $9.11 earnings per share. Equities research analysts predict that Ameriprise Financial, Inc. will post 46.12 earnings per share for the current year.

Ameriprise Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 21st. Shareholders of record on Monday, August 3rd will be issued a dividend of $1.70 per share. This represents a $6.80 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date is Monday, August 3rd. Ameriprise Financial’s dividend payout ratio is presently 16.40%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on AMP shares. Morgan Stanley lifted their price target on shares of Ameriprise Financial from $467.00 to $489.00 and gave the stock an “underweight” rating in a report on Friday, July 10th. Piper Sandler increased their price objective on Ameriprise Financial from $471.00 to $518.00 and gave the company a “neutral” rating in a report on Monday, July 13th. Jefferies Financial Group raised their target price on Ameriprise Financial from $636.00 to $645.00 and gave the stock a “buy” rating in a research report on Friday, July 10th. BMO Capital Markets lifted their target price on Ameriprise Financial from $470.00 to $490.00 and gave the stock a “market perform” rating in a report on Friday, April 24th. Finally, Zacks Research upgraded Ameriprise Financial from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 27th. Two investment analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $555.33.

Ameriprise Financial 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.