Mitsubishi UFJ Asset Management Co. Ltd. Has $83.11 Million Position in Ameriprise Financial, Inc. (NYSE:AMP)

Mitsubishi UFJ Asset Management Co. Ltd. grew its position in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 7.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 155,093 shares of the financial services provider’s stock after purchasing an additional 11,161 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.16% of Ameriprise Financial worth $83,105,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund bought a new position in Ameriprise Financial in the 4th quarter valued at approximately $426,000. Aviso Wealth Management bought a new stake in Ameriprise Financial during the 4th quarter worth approximately $217,000. Ausdal Financial Partners Inc. acquired a new position in Ameriprise Financial in the 4th quarter valued at approximately $475,000. Penobscot Investment Management Company Inc. raised its stake in shares of Ameriprise Financial by 31.7% during the fourth quarter. Penobscot Investment Management Company Inc. now owns 3,960 shares of the financial services provider’s stock valued at $2,108,000 after acquiring an additional 953 shares during the last quarter. Finally, TIAA Trust National Association lifted its holdings in shares of Ameriprise Financial by 15.1% during the fourth quarter. TIAA Trust National Association now owns 2,946 shares of the financial services provider’s stock worth $1,569,000 after purchasing an additional 387 shares during the period. 83.95% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, CEO William F. Truscott sold 6,000 shares of the company’s stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $540.29, for a total transaction of $3,241,740.00. Following the transaction, the chief executive officer now directly owns 14,023 shares of the company’s stock, valued at $7,576,486.67. This represents a 29.97 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Robert Francis Sharpe, Jr. sold 1,000 shares of Ameriprise Financial stock in a transaction on Wednesday, February 12th. The shares were 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 directly owns 10,000 shares of the company’s stock, valued at approximately $5,231,200. The trade was a 9.09 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 11,636 shares of company stock worth $6,263,989. Corporate insiders own 0.96% of the company’s stock.

Analysts Set New Price Targets

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

Ameriprise Financial Price Performance

Ameriprise Financial stock opened at $499.19 on Friday. The stock has a market capitalization of $47.98 billion, a price-to-earnings ratio of 15.10, a PEG ratio of 1.15 and a beta of 1.33. Ameriprise Financial, Inc. has a 52-week low of $385.74 and a 52-week high of $582.05. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.59 and a current ratio of 0.59. The stock’s 50 day moving average price is $525.95 and its two-hundred day moving average price is $522.12.

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

Ameriprise Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Monday, February 10th were paid 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 dividend payout ratio (DPR) is currently 17.91%.

About Ameriprise Financial

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.