Mitsubishi UFJ Trust & Banking Corp Has $45.62 Million Stake in Ameriprise Financial, Inc. $AMP

Key Points

• Mitsubishi UFJ Trust & Banking Corp trimmed its stake in Ameriprise by 7.1%, selling 7,122 shares and now holding 93,016 shares worth $45.62 million (about 0.10% of the company).
• Company insiders sold a total of 16,658 shares worth roughly $8.99 million in the last quarter, including CEO William F. Truscott (5,000 shares) and Gumer Alvero (4,658 shares), leaving insiders with 0.60% ownership.
• Ameriprise beat EPS estimates with $11.26 for the quarter, raised its quarterly dividend to $1.70 (annualized $6.80, 1.4% yield), and the stock trades with a market cap of $43.36 billion and an average analyst target of $540.33 (consensus: Hold).

Mitsubishi UFJ Trust & Banking Corp trimmed its stake in Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 7.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 93,016 shares of the financial services provider's stock after selling 7,122 shares during the period. Mitsubishi UFJ Trust & Banking Corp owned about 0.10% of Ameriprise Financial worth $45,615,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of AMP. Brighton Jones LLC increased its holdings in Ameriprise Financial by 6.9% in the fourth quarter. Brighton Jones LLC now owns 777 shares of the financial services provider's stock valued at $413,000 after purchasing an additional 50 shares during the period. Empowered Funds LLC boosted its position in Ameriprise Financial by 11.8% during the first 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 during the last quarter. Sivia Capital Partners LLC boosted its position in Ameriprise Financial by 14.1% during the second quarter. Sivia Capital Partners LLC now owns 584 shares of the financial services provider's stock valued at $312,000 after acquiring an additional 72 shares during the last quarter. Schnieders Capital Management LLC. bought a new stake in Ameriprise Financial during the second quarter valued at $313,000. Finally, Gabelli Funds LLC boosted its position in 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 acquiring an additional 2,922 shares during the last quarter. 83.95% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider Gumer Alvero sold 4,658 shares of the company'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 sale, the insider owned 4,621 shares in the company, valued at $2,508,648.48. This represents a 50.20% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO William F. Truscott sold 5,000 shares of the company's 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 owned 12,149 shares in the company, valued at $6,464,239.92. This represents a 29.16% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 16,658 shares of company stock worth $8,998,675 in the last quarter. Insiders own 0.60% of the company's stock.

Ameriprise Financial Stock Performance

AMP opened at $475.60 on Wednesday. The company has a current ratio of 0.66, a quick ratio of 0.68 and a debt-to-equity ratio of 0.90. The company's fifty day moving average price is $454.79 and its two-hundred day moving average price is $474.18. Ameriprise Financial, Inc. has a 1-year low of $422.37 and a 1-year high of $550.18. The company has a market cap of $43.36 billion, a price-to-earnings ratio of 11.83, a PEG ratio of 1.17 and a beta of 1.27.

Ameriprise Financial (NYSE:AMP - Get Free Report) last posted its earnings results on Thursday, April 23rd. The financial services provider reported $11.26 earnings per share for the quarter, topping analysts' consensus estimates of $10.21 by $1.05. Ameriprise Financial had a net margin of 20.57% and a return on equity of 62.88%. The company had revenue of $4.77 billion for the quarter, compared to analyst estimates of $4.82 billion. During the same quarter in the prior year, the business posted $9.50 EPS. The firm's revenue was up 9.7% compared to the same quarter last year. On average, analysts expect that Ameriprise Financial, Inc. will post 41.24 EPS for the current fiscal year.

Ameriprise Financial Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 22nd. Investors of record on Monday, May 4th will be issued a $1.70 dividend. The ex-dividend date is Monday, May 4th. This represents a $6.80 dividend on an annualized basis and a dividend yield of 1.4%. This is a boost from Ameriprise Financial's previous quarterly dividend of $1.60. Ameriprise Financial's dividend payout ratio (DPR) is currently 15.92%.

Analyst Ratings Changes

A number of analysts have commented on the stock. Raymond James Financial set a $582.00 price target on shares of Ameriprise Financial and gave the company a "strong-buy" rating in a research report on Wednesday, February 11th. Piper Sandler cut their price target on shares of Ameriprise Financial from $530.00 to $460.00 and set a "hold" rating on the stock in a research report on Tuesday, April 7th. BMO Capital Markets upped their price target on shares of Ameriprise Financial from $470.00 to $490.00 and gave the company a "market perform" rating in a research report on Friday, April 24th. Morgan Stanley cut their price objective on shares of Ameriprise Financial from $485.00 to $452.00 and set an "underweight" rating on the stock in a research report on Friday, April 10th. Finally, Jefferies Financial Group increased their price objective on shares of Ameriprise Financial from $600.00 to $620.00 and gave the stock a "buy" rating in a research report on Monday, February 2nd. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $540.33.

About Ameriprise Financial

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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