Mitsubishi UFJ Asset Management Co. Ltd. Buys 11,161 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 7.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 155,093 shares of the financial services provider’s stock after acquiring an additional 11,161 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Ameriprise Financial were worth $83,105,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of AMP. TCTC Holdings LLC bought a new position in shares of Ameriprise Financial during the fourth quarter valued at about $26,000. Whipplewood Advisors LLC purchased a new stake in Ameriprise Financial in the 4th quarter valued at about $28,000. Rialto Wealth Management LLC bought a new position in shares of Ameriprise Financial during the 4th quarter worth approximately $28,000. Wingate Wealth Advisors Inc. bought a new position in shares of Ameriprise Financial during the 4th quarter worth approximately $30,000. Finally, Sound Income Strategies LLC purchased a new position in shares of Ameriprise Financial in the 4th quarter worth approximately $36,000. 83.95% of the stock is owned by hedge funds and other institutional investors.

Ameriprise Financial Stock Performance

NYSE AMP opened at $499.19 on Friday. The company’s 50 day moving average is $525.95 and its 200-day moving average is $522.12. The firm has a market cap of $47.98 billion, a P/E ratio of 15.10, a price-to-earnings-growth ratio of 1.15 and a beta of 1.33. Ameriprise Financial, Inc. has a 12-month low of $385.74 and a 12-month high of $582.05. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 1.01.

Ameriprise Financial (NYSE:AMP) last posted its earnings results on Wednesday, January 29th. The financial services provider reported $9.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $9.16 by $0.20. Ameriprise Financial had a return on equity of 69.35% and a net margin of 19.70%. Sell-side analysts predict that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current year.

Ameriprise Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Monday, February 10th were issued a dividend of $1.48 per share. This represents a $5.92 dividend on an annualized basis and a yield of 1.19%. The ex-dividend date was Monday, February 10th. Ameriprise Financial’s payout ratio is presently 17.91%.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. UBS Group downgraded Ameriprise Financial from a “buy” rating to a “neutral” rating and decreased their price target for the company from $580.00 to $570.00 in a research report on Monday, January 6th. Keefe, Bruyette & Woods lifted their target price on Ameriprise Financial from $560.00 to $570.00 and gave the stock a “market perform” rating in a research note on Monday, February 3rd. Morgan Stanley boosted their price target on shares of Ameriprise Financial from $507.00 to $542.00 and gave the stock an “equal weight” rating in a report on Tuesday, March 4th. Royal Bank of Canada restated an “outperform” rating and set a $625.00 price objective on shares of Ameriprise Financial in a report on Monday, February 3rd. Finally, Piper Sandler lifted their price objective on shares of Ameriprise Financial from $415.00 to $442.00 and gave the stock an “underweight” rating in a research report on Friday, January 31st. One research analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, Ameriprise Financial presently has a consensus rating of “Hold” and an average target price of $514.89.

Insider Activity

In related news, Director Robert Francis Sharpe, Jr. sold 1,000 shares of Ameriprise Financial stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $523.12, for a total transaction of $523,120.00. Following the completion of the sale, the director now owns 10,000 shares of the company’s stock, valued at approximately $5,231,200. This trade represents a 9.09 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Joseph Edward Sweeney sold 4,636 shares of the company’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $539.07, for a total value of $2,499,128.52. Following the completion of the transaction, the insider now owns 7,237 shares in the company, valued at $3,901,249.59. This represents a 39.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 11,636 shares of company stock worth $6,263,989 over the last ninety days. Company insiders own 0.96% of the company’s stock.

Ameriprise Financial Company Profile

Ameriprise Financial, Inc, together with its subsidiaries, provides various financial products and services to individual and institutional clients in the United States and internationally. It operates through four segments: Advice & Wealth Management, Asset Management, Retirement & Protection Solutions, and Corporate & Other.