Applied Finance Capital Management LLC Has $21.62 Million Stock Holdings in Ameriprise Financial, Inc. (NYSE:AMP)

Key Points

• Applied Finance Capital Management LLC reduced its stake in Ameriprise Financial by 53.7%, selling 51,695 shares during the first quarter.
• Ameriprise Financial reported $9.11 earnings per share for the latest quarter, exceeding estimates and showing a 2.2% year-over-year revenue increase.
• The company announced a $1.60 dividend to be paid on August 18th, with a dividend yield of 1.23% and a payout ratio of 19.91%.

Applied Finance Capital Management LLC decreased its position in Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 53.7% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 44,653 shares of the financial services provider's stock after selling 51,695 shares during the quarter. Ameriprise Financial accounts for approximately 1.6% of Applied Finance Capital Management LLC's holdings, making the stock its 25th biggest holding. Applied Finance Capital Management LLC's holdings in Ameriprise Financial were worth $21,617,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. University of Texas Texas AM Investment Management Co. bought a new position in shares of Ameriprise Financial during the fourth quarter worth $26,000. Sunbeam Capital Management LLC acquired a new position in Ameriprise Financial in the fourth quarter valued at about $31,000. Opal Wealth Advisors LLC bought a new stake in shares of Ameriprise Financial in the first quarter worth about $36,000. Quarry LP raised its position in shares of Ameriprise Financial by 148.6% during the fourth quarter. Quarry LP now owns 87 shares of the financial services provider's stock worth $46,000 after purchasing an additional 52 shares during the period. Finally, Sound Income Strategies LLC lifted its holdings in shares of Ameriprise Financial by 68.7% during the 1st quarter. Sound Income Strategies LLC now owns 113 shares of the financial services provider's stock valued at $55,000 after purchasing an additional 46 shares in the last quarter. Institutional investors own 83.95% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on AMP shares. Royal Bank Of Canada upped their price target on shares of Ameriprise Financial from $595.00 to $601.00 and gave the company an "outperform" rating in a report on Wednesday. Piper Sandler increased their target price on Ameriprise Financial from $423.00 to $434.00 and gave the stock an "underweight" rating in a report on Thursday, July 3rd. William Blair cut Ameriprise Financial from an "outperform" rating to a "market perform" rating in a research note on Friday, July 25th. Morgan Stanley downgraded Ameriprise Financial from an "equal weight" rating to an "underweight" rating and upped their price target for the stock from $462.00 to $530.00 in a research report on Tuesday, July 15th. Finally, Raymond James Financial lifted their price objective on shares of Ameriprise Financial from $518.00 to $582.00 and gave the company a "strong-buy" rating in a report on Friday, July 25th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $534.71.

Ameriprise Financial Price Performance

Shares of AMP traded up $2.89 during trading hours on Wednesday, hitting $523.88. 175,645 shares of the company were exchanged, compared to its average volume of 514,492. The company has a quick ratio of 0.60, a current ratio of 0.62 and a debt-to-equity ratio of 0.95. Ameriprise Financial, Inc. has a fifty-two week low of $385.74 and a fifty-two week high of $582.05. The company has a market cap of $49.88 billion, a price-to-earnings ratio of 16.28, a P/E/G ratio of 1.10 and a beta of 1.23. The firm's fifty day moving average is $522.22 and its 200 day moving average is $511.20.

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

Ameriprise Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 18th. Shareholders of record on Monday, August 4th will be issued a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a dividend yield of 1.22%. The ex-dividend date of this dividend is Monday, August 4th. Ameriprise Financial's dividend payout ratio is presently 19.91%.

Ameriprise Financial announced that its board has authorized a stock repurchase plan 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 purchase up to 9.9% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company's leadership believes its stock is undervalued.

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.