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

Mitsubishi UFJ Trust & Banking Corp increased its position in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 10.6% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 126,831 shares of the financial services provider’s stock after buying an additional 12,183 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in Ameriprise Financial were worth $58,185,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in AMP. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in shares of Ameriprise Financial by 5.7% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 199,258 shares of the financial services provider’s stock worth $98,388,000 after purchasing an additional 10,782 shares in the last quarter. National Pension Service grew its position in 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 purchasing an additional 12,563 shares during the period. LSV Asset Management grew its position in Ameriprise Financial by 1.3% in the 4th quarter. LSV Asset Management now owns 272,018 shares of the financial services provider’s stock valued at $133,381,000 after purchasing an additional 3,548 shares during the period. PFA Pension Forsikringsaktieselskab bought a new stake in Ameriprise Financial during the 4th quarter valued at $72,050,000. Finally, D.A. Davidson & CO. increased its stake in Ameriprise Financial by 116.5% during the 4th quarter. D.A. Davidson & CO. now owns 13,380 shares of the financial services provider’s stock valued at $6,561,000 after purchasing an additional 7,200 shares in the last quarter. Institutional investors own 83.95% of the company’s stock.

Insiders Place Their Bets

In other news, insider William Jerryl Williams sold 8,210 shares of the firm’s stock in a transaction 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 completion of the sale, the insider directly owned 6,780 shares of the company’s stock, valued at $3,656,793. This trade represents a 54.77% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Deirdre Davey Mcgraw sold 2,400 shares of Ameriprise Financial stock in a transaction on Thursday, August 6th. The stock was sold at an average price of $558.28, for a total value of $1,339,872.00. Following the sale, 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 ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 29,988 shares of company stock worth $16,316,497 over the last 90 days. Company insiders own 0.60% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have weighed in on AMP shares. Weiss Ratings raised shares of Ameriprise Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, July 17th. Piper Sandler boosted their target price on shares of Ameriprise Financial from $471.00 to $518.00 and gave the stock a “neutral” rating in a research report on Monday, July 13th. Jefferies Financial Group raised their price target on shares of Ameriprise Financial from $636.00 to $645.00 and gave the company a “buy” rating in a research report on Friday, July 10th. Zacks Research raised shares of Ameriprise Financial from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 27th. Finally, Keefe, Bruyette & Woods lifted their price target on Ameriprise Financial from $515.00 to $545.00 and gave the company a “market perform” rating in a research note on Friday, July 24th. Two equities research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $555.33.

Ameriprise Financial Price Performance

Shares of NYSE AMP opened at $570.06 on Friday. Ameriprise Financial, Inc. has a twelve month low of $422.37 and a twelve month high of $572.56. The stock’s 50 day moving average price is $507.03 and its 200-day moving average price is $480.30. The company has a market capitalization of $51.25 billion, a PE ratio of 13.75, a PEG ratio of 0.77 and a beta of 1.14. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.99.

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

Ameriprise Financial Dividend Announcement

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

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.