Mufg Securities Americas Inc. Grows Stock Holdings in Ameriprise Financial, Inc. $AMP

Mufg Securities Americas Inc. raised its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 23.9% in the 2nd quarter, Holdings Channel reports. The fund owned 2,110 shares of the financial services provider’s stock after acquiring an additional 407 shares during the quarter. Mufg Securities Americas Inc.’s holdings in Ameriprise Financial were worth $1,126,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. raised its stake in shares of Ameriprise Financial by 21.3% during the first quarter. JPMorgan Chase & Co. now owns 5,824,915 shares of the financial services provider’s stock worth $2,819,900,000 after purchasing an additional 1,023,002 shares during the last quarter. Nuveen LLC purchased a new position in Ameriprise Financial in the 1st quarter valued at $469,334,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in Ameriprise Financial by 55.0% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,244,788 shares of the financial services provider’s stock valued at $1,086,724,000 after buying an additional 796,925 shares during the period. Goldman Sachs Group Inc. increased its stake in Ameriprise Financial by 28.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,195,703 shares of the financial services provider’s stock valued at $578,852,000 after buying an additional 266,631 shares during the period. Finally, AQR Capital Management LLC raised its position in Ameriprise Financial by 78.6% during the 1st quarter. AQR Capital Management LLC now owns 430,767 shares of the financial services provider’s stock worth $202,869,000 after buying an additional 189,525 shares during the last quarter. 83.95% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Ameriprise Financial news, EVP Heather J. Melloh sold 1,500 shares of the company’s stock in a transaction dated Thursday, September 4th. The shares were sold at an average price of $512.34, for a total value of $768,510.00. Following the transaction, the executive vice president directly owned 2,562 shares in the company, valued at approximately $1,312,615.08. This represents a 36.93% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.73% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on AMP shares. Royal Bank Of Canada lowered their price objective on Ameriprise Financial from $601.00 to $550.00 and set an “outperform” rating on the stock in a report on Monday, November 3rd. Evercore ISI reduced their price target on Ameriprise Financial from $587.00 to $570.00 and set an “in-line” rating for the company in a report on Thursday, October 9th. BMO Capital Markets initiated coverage on Ameriprise Financial in a report on Friday, October 3rd. They set a “market perform” rating and a $525.00 price objective on the stock. Argus cut their price objective on Ameriprise Financial from $568.00 to $554.00 and set a “buy” rating for the company in a research report on Thursday, November 13th. Finally, Morgan Stanley decreased their target price on shares of Ameriprise Financial from $530.00 to $484.00 and set an “underweight” rating on the stock in a research report on Wednesday, October 1st. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $533.22.

Ameriprise Financial Trading Up 1.3%

Shares of Ameriprise Financial stock opened at $447.55 on Friday. Ameriprise Financial, Inc. has a 1 year low of $396.14 and a 1 year high of $582.05. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.62 and a quick ratio of 0.62. The business has a 50 day moving average price of $475.21 and a 200 day moving average price of $501.47. The company has a market capitalization of $41.58 billion, a P/E ratio of 13.92, a P/E/G ratio of 1.07 and a beta of 1.28.

Ameriprise Financial (NYSE:AMP) last announced its earnings results on Thursday, October 30th. The financial services provider reported $9.92 EPS for the quarter, beating analysts’ consensus estimates of $9.76 by $0.16. Ameriprise Financial had a return on equity of 65.90% and a net margin of 18.30%.The firm had revenue of $4.73 billion for the quarter, compared to analysts’ expectations of $4.51 billion. During the same quarter in the prior year, the firm earned $9.02 EPS. Ameriprise Financial’s quarterly revenue was up 9.0% on a year-over-year basis. Sell-side analysts anticipate that Ameriprise Financial, Inc. will post 38.64 EPS for the current fiscal year.

Ameriprise Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 24th. Investors of record on Monday, November 10th will be given a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date is Monday, November 10th. Ameriprise Financial’s dividend payout ratio (DPR) is currently 17.55%.

About Ameriprise Financial

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.