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Boston Partners Trims Position in Ameriprise Financial, Inc. (NYSE:AMP)

Ameriprise Financial logo with Finance background

Key Points

  • Boston Partners reduced its position in Ameriprise Financial by 16.1%, now holding approximately 1.20% of the company's stock valued at $553.96 million.
  • Ameriprise Financial's recent quarterly earnings exceeded expectations, reporting $9.11 earnings per share against an estimate of $9.00, with revenues of $4.49 billion.
  • The company declared a quarterly dividend of $1.60 per share, reflecting a yield of 1.2% and a payout ratio of 19.91%.
  • Want stock alerts on Ameriprise Financial? Get 5 Weeks of MarketBeat All Access for $5. Get My Stock Alerts.

Boston Partners decreased its position in shares of Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 16.1% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,144,376 shares of the financial services provider's stock after selling 219,808 shares during the period. Boston Partners owned approximately 1.20% of Ameriprise Financial worth $553,957,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of AMP. Brighton Jones LLC increased its position in Ameriprise Financial by 6.9% during the fourth quarter. Brighton Jones LLC now owns 777 shares of the financial services provider's stock valued at $413,000 after acquiring an additional 50 shares during the last quarter. Sagespring Wealth Partners LLC purchased a new stake in shares of Ameriprise Financial during the fourth quarter valued at $540,000. Advisors Capital Management LLC boosted its stake in shares of Ameriprise Financial by 20.2% during the fourth quarter. Advisors Capital Management LLC now owns 911 shares of the financial services provider's stock valued at $485,000 after purchasing an additional 153 shares during the period. Savvy Advisors Inc. purchased a new stake in shares of Ameriprise Financial during the fourth quarter valued at $221,000. Finally, SageView Advisory Group LLC purchased a new stake in shares of Ameriprise Financial during the fourth quarter valued at $345,000. Institutional investors own 83.95% of the company's stock.

Ameriprise Financial Stock Performance

AMP traded down $10.94 on Friday, reaching $502.75. The stock had a trading volume of 424,794 shares, compared to its average volume of 435,926. Ameriprise Financial, Inc. has a 12-month low of $396.14 and a 12-month high of $582.05. 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 business's 50-day moving average price is $521.74 and its two-hundred day moving average price is $507.66. The company has a market cap of $47.39 billion, a P/E ratio of 15.64, a price-to-earnings-growth ratio of 1.10 and a beta of 1.24.

Ameriprise Financial (NYSE:AMP - Get Free Report) last released 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. Ameriprise Financial had a net margin of 18.30% and a return on equity of 65.90%. The firm had revenue of $4.49 billion for the quarter, compared to analysts' expectations of $4.33 billion. During the same quarter last year, the company earned $8.72 EPS. The firm's revenue for the quarter was up 2.2% compared to the same quarter last year. Sell-side analysts forecast that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current year.

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

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 paid a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend is Monday, August 4th. Ameriprise Financial's payout ratio is 19.91%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on AMP shares. Wall Street Zen raised shares of Ameriprise Financial from a "sell" rating to a "hold" rating in a research note on Friday, May 30th. William Blair lowered shares of Ameriprise Financial from an "outperform" rating to a "market perform" rating in a research note on Friday, July 25th. Morgan Stanley lowered shares of Ameriprise Financial from an "equal weight" rating to an "underweight" rating and boosted their target price for the company from $462.00 to $530.00 in a research note on Tuesday, July 15th. Raymond James Financial upped their price objective on shares of Ameriprise Financial from $518.00 to $582.00 and gave the stock a "strong-buy" rating in a research note on Friday, July 25th. Finally, Royal Bank Of Canada increased their target price on shares of Ameriprise Financial from $595.00 to $601.00 and gave the stock an "outperform" rating in a report on Wednesday, July 30th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating, one has issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $534.71.

Get Our Latest Report on Ameriprise Financial

About Ameriprise Financial

(Free Report)

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.

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

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