Sumitomo Mitsui Trust Holdings Inc. Acquires 11,626 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

Posted by on Apr 13th, 2023

Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP – Get Rating) by 3.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 333,877 shares of the financial services provider’s stock after acquiring an additional 11,626 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned about 0.31% of Ameriprise Financial worth $103,959,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its holdings in Ameriprise Financial by 0.6% during the 3rd quarter. Vanguard Group Inc. now owns 13,925,117 shares of the financial services provider’s stock worth $3,508,434,000 after acquiring an additional 84,131 shares in the last quarter. UBS Asset Management Americas Inc. lifted its position in shares of Ameriprise Financial by 2.4% during the third quarter. UBS Asset Management Americas Inc. now owns 2,044,344 shares of the financial services provider’s stock valued at $515,072,000 after buying an additional 48,641 shares during the last quarter. Invesco Ltd. lifted its position in shares of Ameriprise Financial by 33.5% during the first quarter. Invesco Ltd. now owns 1,078,807 shares of the financial services provider’s stock valued at $324,031,000 after buying an additional 270,755 shares during the last quarter. Nuveen Asset Management LLC lifted its position in shares of Ameriprise Financial by 7.9% during the third quarter. Nuveen Asset Management LLC now owns 1,051,996 shares of the financial services provider’s stock valued at $265,050,000 after buying an additional 77,367 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in shares of Ameriprise Financial by 7.8% during the third quarter. Dimensional Fund Advisors LP now owns 993,519 shares of the financial services provider’s stock valued at $250,327,000 after buying an additional 71,559 shares during the last quarter. 81.66% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. StockNews.com assumed coverage on shares of Ameriprise Financial in a research report on Thursday, March 16th. They set a “hold” rating for the company. Argus increased their price target on shares of Ameriprise Financial from $340.00 to $392.00 in a research report on Tuesday, January 31st. Credit Suisse Group increased their price target on shares of Ameriprise Financial from $382.00 to $401.00 and gave the company an “outperform” rating in a research report on Wednesday, February 1st. Morgan Stanley increased their price target on shares of Ameriprise Financial from $340.00 to $345.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 10th. Finally, Keefe, Bruyette & Woods increased their price target on shares of Ameriprise Financial from $350.00 to $375.00 and gave the company a “market perform” rating in a research report on Tuesday, January 31st. One investment analyst has rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $346.90.

Insiders Place Their Bets

In other Ameriprise Financial news, insider Joseph Edward Sweeney sold 6,390 shares of the firm’s stock in a transaction that occurred on Tuesday, February 14th. The shares were sold at an average price of $350.35, for a total transaction of $2,238,736.50. Following the completion of the transaction, the insider now directly owns 10,955 shares of the company’s stock, valued at approximately $3,838,084.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Joseph Edward Sweeney sold 6,390 shares of the firm’s stock in a transaction that occurred on Tuesday, February 14th. The shares were sold at an average price of $350.35, for a total transaction of $2,238,736.50. Following the sale, the insider now owns 10,955 shares of the company’s stock, valued at approximately $3,838,084.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO William F. Truscott sold 11,480 shares of the firm’s stock in a transaction that occurred on Monday, February 13th. The stock was sold at an average price of $355.33, for a total transaction of $4,079,188.40. Following the sale, the chief executive officer now directly owns 17,489 shares in the company, valued at approximately $6,214,366.37. The disclosure for this sale can be found here. In the last ninety days, insiders sold 75,328 shares of company stock valued at $26,478,645. 0.73% of the stock is owned by insiders.

Ameriprise Financial Stock Performance

Shares of Ameriprise Financial stock opened at $304.96 on Thursday. Ameriprise Financial, Inc. has a 52 week low of $219.99 and a 52 week high of $357.46. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 1.43. The firm has a market capitalization of $32.07 billion, a P/E ratio of 13.58, a PEG ratio of 0.63 and a beta of 1.46. The company has a 50 day moving average price of $322.09 and a 200 day moving average price of $313.63.

Ameriprise Financial (NYSE:AMP – Get Rating) last posted its quarterly earnings results on Thursday, January 26th. The financial services provider reported $6.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.35 by $0.59. Ameriprise Financial had a net margin of 17.91% and a return on equity of 70.64%. The company had revenue of $3.62 billion during the quarter, compared to analyst estimates of $3.46 billion. During the same period last year, the firm posted $6.15 EPS. Ameriprise Financial’s revenue for the quarter was down 3.8% compared to the same quarter last year. Sell-side analysts expect that Ameriprise Financial, Inc. will post 30.62 EPS for the current year.

Ameriprise Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, February 28th. Shareholders of record on Friday, February 10th were given a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a yield of 1.64%. The ex-dividend date was Thursday, February 9th. Ameriprise Financial’s dividend payout ratio is presently 22.27%.

About Ameriprise Financial

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Ameriprise Financial, Inc operates as a holding company. The firm provides financial planning, asset management and insurance services to individuals, businesses and institutions. It operates through the following business segments: Advice & Wealth Management, Asset Management, Retirement & Protection Solutions, and Corporate & Other.

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Institutional Ownership by Quarter for Ameriprise Financial (NYSE:AMP)

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