Bridgeway Capital Management LLC Lowers Position in Ameriprise Financial, Inc. (NYSE:AMP)

Bridgeway Capital Management LLC lessened its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 31.7% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,470 shares of the financial services provider's stock after selling 2,070 shares during the period. Bridgeway Capital Management LLC's holdings in Ameriprise Financial were worth $2,380,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in AMP. TCTC Holdings LLC acquired a new stake in Ameriprise Financial in the fourth quarter valued at approximately $26,000. Whipplewood Advisors LLC bought a new position in shares of Ameriprise Financial during the fourth quarter valued at $28,000. Rialto Wealth Management LLC bought a new position in shares of Ameriprise Financial during the fourth quarter valued at $28,000. Wingate Wealth Advisors Inc. bought a new position in shares of Ameriprise Financial during the fourth quarter valued at $30,000. Finally, Sound Income Strategies LLC bought a new position in shares of Ameriprise Financial during the fourth quarter valued at $36,000. Institutional investors and hedge funds own 83.95% of the company's stock.

Ameriprise Financial Stock Performance

AMP stock traded up $4.77 during mid-day trading on Tuesday, hitting $520.49. The company had a trading volume of 393,159 shares, compared to its average volume of 492,750. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.59 and a current ratio of 0.59. The firm has a market cap of $49.56 billion, a PE ratio of 15.74, a price-to-earnings-growth ratio of 1.15 and a beta of 1.28. Ameriprise Financial, Inc. has a 12 month low of $385.74 and a 12 month high of $582.05. The stock's fifty day moving average price is $476.81 and its two-hundred day moving average price is $520.04.

Ameriprise Financial (NYSE:AMP - Get Free Report) last released its earnings results on Thursday, April 24th. The financial services provider reported $9.50 earnings per share for the quarter, beating analysts' consensus estimates of $9.08 by $0.42. The firm had revenue of $4.35 billion for the quarter, compared to analysts' expectations of $4.45 billion. Ameriprise Financial had a net margin of 19.70% and a return on equity of 69.35%. The company's quarterly revenue was up 3.6% on a year-over-year basis. During the same period in the previous year, the company earned $8.39 earnings per share. On average, analysts forecast that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current fiscal year.

Ameriprise Financial announced that its Board of Directors has initiated a share buyback program on Thursday, April 24th that allows the company to repurchase $4.50 billion in outstanding shares. This repurchase authorization allows the financial services provider to buy up to 9.9% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company's board believes its stock is undervalued.

Ameriprise Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, May 19th. Investors of record on Monday, May 5th will be paid a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a yield of 1.23%. This is a positive change from Ameriprise Financial's previous quarterly dividend of $1.48. The ex-dividend date of this dividend is Monday, May 5th. Ameriprise Financial's payout ratio is currently 21.75%.

Insider Buying and Selling at Ameriprise Financial

In other Ameriprise Financial news, Director Robert Francis Sharpe, Jr. sold 1,000 shares of the stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $523.12, for a total transaction of $523,120.00. Following the sale, the director now owns 10,000 shares in the company, valued at $5,231,200. This represents a 9.09% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Joseph Edward Sweeney sold 4,636 shares of the stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $539.07, for a total value of $2,499,128.52. Following the sale, the insider now owns 7,237 shares in the company, valued at approximately $3,901,249.59. This represents a 39.05% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.73% of the company's stock.

Analyst Ratings Changes

AMP has been the topic of several recent analyst reports. Royal Bank of Canada boosted their target price on shares of Ameriprise Financial from $550.00 to $565.00 and gave the company an "outperform" rating in a report on Tuesday, April 29th. Keefe, Bruyette & Woods upped their price objective on shares of Ameriprise Financial from $510.00 to $520.00 and gave the company a "market perform" rating in a report on Wednesday, May 7th. Morgan Stanley upped their price objective on shares of Ameriprise Financial from $507.00 to $542.00 and gave the company an "equal weight" rating in a report on Tuesday, March 4th. Piper Sandler upped their price objective on shares of Ameriprise Financial from $415.00 to $442.00 and gave the company an "underweight" rating in a report on Friday, January 31st. Finally, Raymond James upgraded shares of Ameriprise Financial from a "market perform" rating to a "strong-buy" rating and set a $518.00 price objective on the stock in a report on Monday, April 7th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $517.13.

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.