Mitsubishi UFJ Asset Management Co. Ltd. grew its position in shares of Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 5.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 218,197 shares of the financial services provider's stock after buying an additional 10,672 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.24% of Ameriprise Financial worth $100,100,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors have also bought and sold shares of the business. Brighton Jones LLC grew its holdings in shares of Ameriprise Financial by 6.9% during the fourth quarter. Brighton Jones LLC now owns 777 shares of the financial services provider's stock worth $413,000 after purchasing an additional 50 shares during the last quarter. Empowered Funds LLC increased its position in Ameriprise Financial by 11.8% in the 1st quarter. Empowered Funds LLC now owns 6,022 shares of the financial services provider's stock valued at $2,915,000 after acquiring an additional 634 shares in the last quarter. Sivia Capital Partners LLC raised its stake in shares of Ameriprise Financial by 14.1% in the second quarter. Sivia Capital Partners LLC now owns 584 shares of the financial services provider's stock worth $312,000 after acquiring an additional 72 shares during the last quarter. Schnieders Capital Management LLC. acquired a new position in shares of Ameriprise Financial during the second quarter worth approximately $313,000. Finally, Gabelli Funds LLC grew its stake in shares of Ameriprise Financial by 224.8% during the second quarter. Gabelli Funds LLC now owns 4,222 shares of the financial services provider's stock valued at $2,253,000 after purchasing an additional 2,922 shares during the last quarter. 83.95% of the stock is currently owned by institutional investors.
Ameriprise Financial Trading Up 0.2%
NYSE AMP opened at $562.89 on Wednesday. Ameriprise Financial, Inc. has a 12 month low of $422.37 and a 12 month high of $572.56. The stock has a 50-day simple moving average of $511.57 and a 200 day simple moving average of $481.04. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.99. The company has a market capitalization of $50.60 billion, a PE ratio of 13.58, a P/E/G ratio of 0.77 and a beta of 1.14.
Ameriprise Financial (NYSE:AMP - Get Free Report) last issued its earnings results on Thursday, July 23rd. The financial services provider reported $11.07 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $10.81 by $0.26. The firm had revenue of $4.90 billion for the quarter, compared to analysts' expectations of $4.87 billion. Ameriprise Financial had a return on equity of 64.19% and a net margin of 20.24%.The company's revenue was up 11.6% compared to the same quarter last year. During the same quarter last year, the business earned $9.11 earnings per share. Research analysts forecast that Ameriprise Financial, Inc. will post 46.12 EPS for the current year.
Ameriprise Financial Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Friday, August 21st. Shareholders of record on Monday, August 3rd will be issued a $1.70 dividend. The ex-dividend date is Monday, August 3rd. This represents a $6.80 annualized dividend and a yield of 1.2%. Ameriprise Financial's dividend payout ratio (DPR) is 16.40%.
Wall Street Analysts Forecast Growth
Several equities research analysts have recently commented on the company. Jefferies Financial Group lifted their target price on Ameriprise Financial from $636.00 to $645.00 and gave the company a "buy" rating in a research note on Friday, July 10th. Morgan Stanley lifted their price objective on Ameriprise Financial from $467.00 to $489.00 and gave the stock an "underweight" rating in a research report on Friday, July 10th. Weiss Ratings upgraded shares of Ameriprise Financial from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Friday, July 17th. Zacks Research upgraded 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 increased their price objective on shares of Ameriprise Financial from $515.00 to $545.00 and gave the company a "market perform" rating in a report on Friday, July 24th. Two equities research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, Ameriprise Financial has a consensus rating of "Moderate Buy" and a consensus target price of $555.33.
View Our Latest Report on Ameriprise Financial
Insider Activity
In related news, EVP Deirdre Davey Mcgraw sold 2,400 shares of the company's stock in a transaction on Thursday, August 6th. The shares were sold at an average price of $558.28, for a total value of $1,339,872.00. Following the completion of the sale, the executive vice president owned 3,373 shares in the company, valued at $1,883,078.44. This represents a 41.57% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Dawn M. Brockman sold 472 shares of Ameriprise Financial stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $558.93, for a total value of $263,814.96. Following the transaction, the senior vice president owned 713 shares in the company, valued at approximately $398,517.09. This represents a 39.83% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 29,988 shares of company stock valued at $16,316,497. 0.60% of the stock is owned by company insiders.
About Ameriprise Financial
(
Free Report)
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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