Ameriprise Financial, Inc. $AMP Shares Acquired by Mitsubishi UFJ Asset Management Co. Ltd.

Key Points

• Mitsubishi UFJ Asset Management increased its stake in Ameriprise by 5.7% in Q4 to 199,258 shares (about $98.4 million), after buying an additional 10,782 shares.
• Insiders reduced holdings: CEO William F. Truscott sold 5,000 shares and another insider, Gumer Alvero, sold 4,658 shares, leaving total insider ownership at about 0.60%.
• Ameriprise beat EPS estimates ($11.26 vs. $10.21) but missed revenue slightly, and the company raised its quarterly dividend to $1.70 (annualized $6.80, ~1.5% yield).

Mitsubishi UFJ Asset Management Co. Ltd. grew its position in Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 5.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 199,258 shares of the financial services provider's stock after buying an additional 10,782 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.21% of Ameriprise Financial worth $98,388,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. Holos Integrated Wealth LLC acquired a new stake in shares of Ameriprise Financial in the fourth quarter valued at $30,000. Redmont Wealth Advisors LLC acquired a new position in Ameriprise Financial during the 3rd quarter worth $32,000. Ares Financial Consulting LLC acquired a new position in Ameriprise Financial during the 4th quarter worth $32,000. WFA of San Diego LLC acquired a new position in Ameriprise Financial during the 2nd quarter worth $36,000. Finally, Activest Wealth Management grew its stake in Ameriprise Financial by 777.8% during the 4th quarter. Activest Wealth Management now owns 79 shares of the financial services provider's stock worth $39,000 after purchasing an additional 70 shares in the last quarter. 83.95% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Ameriprise Financial

In other Ameriprise Financial news, CEO William F. Truscott sold 5,000 shares of Ameriprise Financial stock in a transaction dated Tuesday, February 10th. The stock was sold at an average price of $532.08, for a total transaction of $2,660,400.00. Following the completion of the sale, the chief executive officer directly owned 12,149 shares of the company's stock, valued at $6,464,239.92. The trade was a 29.16% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Gumer Alvero sold 4,658 shares of the business's stock in a transaction dated Monday, February 9th. The shares were sold at an average price of $542.88, for a total value of $2,528,735.04. Following the completion of the sale, the insider directly owned 4,621 shares of the company's stock, valued at $2,508,648.48. The trade was a 50.20% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.60% of the stock is owned by insiders.

Ameriprise Financial Stock Down 3.5%

Shares of NYSE AMP opened at $458.79 on Friday. The company has a market capitalization of $41.83 billion, a price-to-earnings ratio of 11.41, a price-to-earnings-growth ratio of 1.13 and a beta of 1.20. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.66 and a quick ratio of 0.68. The business has a 50-day moving average of $455.15 and a two-hundred day moving average of $473.98. Ameriprise Financial, Inc. has a 1 year low of $422.37 and a 1 year high of $550.18.

Ameriprise Financial (NYSE:AMP - Get Free Report) last announced its quarterly earnings results on Thursday, April 23rd. The financial services provider reported $11.26 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $10.21 by $1.05. The company had revenue of $4.77 billion during the quarter, compared to the consensus estimate of $4.82 billion. Ameriprise Financial had a return on equity of 62.88% and a net margin of 20.57%.Ameriprise Financial's revenue for the quarter was up 9.7% on a year-over-year basis. During the same period in the previous year, the business earned $9.50 EPS. On average, analysts forecast that Ameriprise Financial, Inc. will post 42.44 earnings per share for the current fiscal year.

Ameriprise Financial Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 22nd. Shareholders of record on Monday, May 4th will be issued a dividend of $1.70 per share. This is a positive change from Ameriprise Financial's previous quarterly dividend of $1.60. The ex-dividend date of this dividend is Monday, May 4th. This represents a $6.80 dividend on an annualized basis and a yield of 1.5%. Ameriprise Financial's dividend payout ratio (DPR) is presently 16.91%.

Analysts Set New Price Targets

Several research analysts recently commented on the company. Morgan Stanley boosted their target price on Ameriprise Financial from $452.00 to $467.00 and gave the stock an "underweight" rating in a research note on Thursday, April 30th. Piper Sandler boosted their target price on Ameriprise Financial from $460.00 to $471.00 and gave the stock a "neutral" rating in a research note on Monday. Royal Bank Of Canada reissued an "outperform" rating and set a $605.00 target price (up from $580.00) on shares of Ameriprise Financial in a research note on Monday, February 2nd. BMO Capital Markets boosted their target price on Ameriprise Financial from $470.00 to $490.00 and gave the stock a "market perform" rating in a research note on Friday, April 24th. Finally, Keefe, Bruyette & Woods assumed coverage on Ameriprise Financial in a research note on Friday, April 10th. They set a "hold" rating for the company. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company has an average rating of "Hold" and a consensus price target of $543.22.

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.

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