AQR Capital Management LLC Purchases 189,525 Shares of Ameriprise Financial, Inc. $AMP

Key Points

• AQR Capital Management increased its stake in Ameriprise Financial by 78.6% in Q1, owning 430,767 shares valued at approximately $202.9 million.
• Ameriprise Financial reported earnings of $9.11 per share for the latest quarter, surpassing estimates, with revenue reaching $4.49 billion, which was higher than expectations.
• The company declared a quarterly dividend of $1.60, representing an annualized yield of 1.3% and a payout ratio of approximately 19.91%.

AQR Capital Management LLC grew its stake in Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 78.6% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 430,767 shares of the financial services provider's stock after purchasing an additional 189,525 shares during the quarter. AQR Capital Management LLC owned about 0.45% of Ameriprise Financial worth $202,869,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in AMP. Brighton Jones LLC increased its stake in shares of Ameriprise Financial by 6.9% in the 4th quarter. Brighton Jones LLC now owns 777 shares of the financial services provider's stock worth $413,000 after acquiring an additional 50 shares in the last quarter. Aptus Capital Advisors LLC increased its stake in shares of Ameriprise Financial by 48.0% in the 4th quarter. Aptus Capital Advisors LLC now owns 1,249 shares of the financial services provider's stock worth $665,000 after acquiring an additional 405 shares in the last quarter. Balyasny Asset Management L.P. bought a new position in shares of Ameriprise Financial in the 4th quarter worth about $633,000. Cary Street Partners Financial LLC bought a new position in shares of Ameriprise Financial in the 4th quarter worth about $876,000. Finally, Bridgefront Capital LLC bought a new position in shares of Ameriprise Financial in the 4th quarter worth about $221,000. 83.95% of the stock is currently owned by institutional investors.

Ameriprise Financial Stock Up 0.6%

NYSE:AMP traded up $3.15 on Tuesday, reaching $495.59. 118,243 shares of the stock traded hands, compared to its average volume of 498,468. The company's fifty day simple moving average is $519.39 and its 200 day simple moving average is $503.57. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 0.95. The company has a market capitalization of $46.72 billion, a price-to-earnings ratio of 15.41, a PEG ratio of 1.04 and a beta of 1.27. Ameriprise Financial, Inc. has a 12 month low of $396.14 and a 12 month high of $582.05.

Ameriprise Financial (NYSE:AMP - Get Free Report) last announced its quarterly earnings results on Thursday, July 24th. The financial services provider reported $9.11 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $9.00 by $0.11. The firm had revenue of $4.49 billion for the quarter, compared to the consensus estimate of $4.33 billion. Ameriprise Financial had a net margin of 18.30% and a return on equity of 65.90%. The business's quarterly revenue was up 2.2% compared to the same quarter last year. During the same quarter last year, the firm posted $8.72 EPS. Equities analysts predict that Ameriprise Financial, Inc. will post 38.64 EPS for the current fiscal year.

Ameriprise Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, August 18th. Stockholders of record on Monday, August 4th were issued a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date of this dividend was Monday, August 4th. Ameriprise Financial's dividend payout ratio (DPR) is presently 19.91%.

Wall Street Analysts Forecast Growth

AMP has been the subject of several research reports. Royal Bank Of Canada increased their price target on shares of Ameriprise Financial from $595.00 to $601.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 30th. Morgan Stanley lowered shares of Ameriprise Financial from an "equal weight" rating to an "underweight" rating and increased their price target for the stock from $462.00 to $530.00 in a research note on Tuesday, July 15th. Keefe, Bruyette & Woods increased their price target on shares of Ameriprise Financial from $520.00 to $550.00 and gave the stock a "market perform" rating in a research note on Wednesday, July 9th. Raymond James Financial raised their price objective on shares of Ameriprise Financial from $518.00 to $582.00 and gave the company a "strong-buy" rating in a research note on Friday, July 25th. Finally, William Blair lowered shares of Ameriprise Financial from an "outperform" rating to a "market perform" rating in a research note on Friday, July 25th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $534.71.

Insider Transactions at Ameriprise Financial

In other news, EVP Heather J. Melloh sold 1,500 shares of the firm's stock in a transaction dated Thursday, September 4th. The shares were sold at an average price of $512.34, for a total transaction of $768,510.00. Following the sale, the executive vice president owned 2,562 shares of the company's stock, valued at $1,312,615.08. This trade represents a 36.93% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO William F. Truscott sold 9,929 shares of the firm's stock in a transaction that occurred on Tuesday, August 19th. The stock was sold at an average price of $506.89, for a total transaction of $5,032,910.81. Following the completion of the transaction, the chief executive officer directly owned 11,047 shares in the company, valued at approximately $5,599,613.83. The trade was a 47.34% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.57% 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.