Mitsubishi UFJ Trust & Banking Corp Lowers Holdings in Ameriprise Financial, Inc. (NYSE:AMP)

Mitsubishi UFJ Trust & Banking Corp trimmed its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 17.4% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 60,450 shares of the financial services provider's stock after selling 12,710 shares during the period. Mitsubishi UFJ Trust & Banking Corp owned approximately 0.06% of Ameriprise Financial worth $32,185,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. TCTC Holdings LLC bought a new position in Ameriprise Financial during the 4th quarter valued at approximately $26,000. Rialto Wealth Management LLC bought a new position in shares of Ameriprise Financial during the fourth quarter valued at $28,000. Whipplewood Advisors LLC purchased a new position in shares of Ameriprise Financial in the 4th quarter worth about $28,000. Wingate Wealth Advisors Inc. bought a new position in Ameriprise Financial in the 4th quarter worth about $30,000. Finally, Sound Income Strategies LLC bought a new position in Ameriprise Financial in the 4th quarter worth about $36,000. 83.95% of the stock is currently owned by hedge funds and other institutional investors.

Ameriprise Financial Stock Performance

Shares of AMP stock traded up $2.32 on Monday, reaching $484.54. The stock had a trading volume of 635,592 shares, compared to its average volume of 484,968. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.59 and a current ratio of 0.59. Ameriprise Financial, Inc. has a 1 year low of $385.74 and a 1 year high of $582.05. The stock has a market cap of $46.57 billion, a P/E ratio of 14.66, a price-to-earnings-growth ratio of 1.15 and a beta of 1.33. The company has a 50 day simple moving average of $523.21 and a 200 day simple moving average of $524.01.

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

Ameriprise Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Monday, February 10th were given a dividend of $1.48 per share. The ex-dividend date of this dividend was Monday, February 10th. This represents a $5.92 annualized dividend and a yield of 1.22%. Ameriprise Financial's dividend payout ratio (DPR) is 17.91%.

Analyst Ratings Changes

AMP has been the subject of several recent analyst reports. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $625.00 target price on shares of Ameriprise Financial in a report on Monday, February 3rd. 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. UBS Group downgraded Ameriprise Financial from a "buy" rating to a "neutral" rating and cut their target price for the company from $580.00 to $570.00 in a research note on Monday, January 6th. Piper Sandler boosted their price target on Ameriprise Financial from $415.00 to $442.00 and gave the stock an "underweight" rating in a research note on Friday, January 31st. Finally, Keefe, Bruyette & Woods upped their price target on Ameriprise Financial from $560.00 to $570.00 and gave the company a "market perform" rating in a report on Monday, February 3rd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $514.89.

Insider Buying and Selling at Ameriprise Financial

In related news, insider Joseph Edward Sweeney sold 4,636 shares of Ameriprise Financial stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $539.07, for a total transaction 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. The trade was a 39.05 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO William F. Truscott sold 6,000 shares of the business's stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $540.29, for a total value of $3,241,740.00. Following the transaction, the chief executive officer now owns 14,023 shares of the company's stock, valued at approximately $7,576,486.67. This trade represents a 29.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 11,636 shares of company stock valued at $6,263,989. Insiders own 0.73% of the company's stock.

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.