Ameriprise Financial, Inc. (NYSE:AMP) Shares Sold by Mitsubishi UFJ Trust & Banking Corp

Mitsubishi UFJ Trust & Banking Corp trimmed its position in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 17.4% during the fourth quarter, Holdings Channel reports. The firm owned 60,450 shares of the financial services provider’s stock after selling 12,710 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in Ameriprise Financial were worth $32,185,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Geller Advisors LLC raised its holdings in shares of Ameriprise Financial by 2.2% in the 3rd quarter. Geller Advisors LLC now owns 878 shares of the financial services provider’s stock valued at $412,000 after buying an additional 19 shares during the period. Cerro Pacific Wealth Advisors LLC lifted its position in shares of Ameriprise Financial by 3.4% during the fourth quarter. Cerro Pacific Wealth Advisors LLC now owns 576 shares of the financial services provider’s stock worth $307,000 after purchasing an additional 19 shares in the last quarter. SRS Capital Advisors Inc. boosted its stake in shares of Ameriprise Financial by 40.0% in the fourth quarter. SRS Capital Advisors Inc. now owns 70 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 20 shares during the period. Dakota Wealth Management grew its holdings in shares of Ameriprise Financial by 2.7% in the fourth quarter. Dakota Wealth Management now owns 798 shares of the financial services provider’s stock valued at $425,000 after purchasing an additional 21 shares in the last quarter. Finally, Abel Hall LLC increased its stake in Ameriprise Financial by 4.2% during the 4th quarter. Abel Hall LLC now owns 517 shares of the financial services provider’s stock worth $275,000 after buying an additional 21 shares during the period. 83.95% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CEO William F. Truscott sold 6,000 shares of the company’s stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $540.29, for a total value of $3,241,740.00. Following the completion of the sale, 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Joseph Edward Sweeney sold 4,636 shares of Ameriprise Financial stock in a transaction that occurred on 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 transaction, the insider now directly owns 7,237 shares in the company, valued at approximately $3,901,249.59. This trade represents a 39.05 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 11,636 shares of company stock valued at $6,263,989. 0.96% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

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

Ameriprise Financial Price Performance

AMP stock opened at $505.15 on Thursday. The business has a 50 day moving average price of $526.91 and a 200 day moving average price of $522.28. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 1.01. The stock has a market cap of $48.55 billion, a price-to-earnings ratio of 15.28, a PEG ratio of 1.15 and a beta of 1.33. Ameriprise Financial, Inc. has a fifty-two week low of $385.74 and a fifty-two week high of $582.05.

Ameriprise Financial (NYSE:AMP) last issued its quarterly earnings data on Wednesday, January 29th. The financial services provider reported $9.36 earnings per share for the quarter, topping the consensus estimate of $9.16 by $0.20. Ameriprise Financial had a net margin of 19.70% and a return on equity of 69.35%. Equities research analysts anticipate that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current fiscal year.

Ameriprise Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Monday, February 10th were paid a $1.48 dividend. The ex-dividend date of this dividend was Monday, February 10th. This represents a $5.92 annualized dividend and a yield of 1.17%. Ameriprise Financial’s dividend payout ratio is presently 17.91%.

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.