Blair William & Co. IL Cuts Stock Holdings in Ameriprise Financial, Inc. (NYSE:AMP)

Key Points

• Blair William & Co. IL reduced its position in Ameriprise Financial by 15.3%, now owning 12,651 shares valued at approximately $6.12 million.
• Ameriprise Financial reported a quarterly earnings of $9.11 per share, surpassing estimates, with a net margin of 18.30% and revenue of $4.49 billion.
• The board of Ameriprise Financial approved a $4.50 billion share buyback plan, indicating confidence in the company's stock valuation.

Blair William & Co. IL decreased its position in shares of Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 15.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 12,651 shares of the financial services provider's stock after selling 2,279 shares during the quarter. Blair William & Co. IL's holdings in Ameriprise Financial were worth $6,125,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. University of Texas Texas AM Investment Management Co. purchased a new stake in Ameriprise Financial in the 4th quarter valued at about $26,000. Sunbeam Capital Management LLC purchased a new stake in shares of Ameriprise Financial in the 4th quarter valued at $31,000. Opal Wealth Advisors LLC purchased a new stake in shares of Ameriprise Financial in the 1st quarter valued at $36,000. Quarry LP lifted its stake in Ameriprise Financial by 148.6% during the 4th quarter. Quarry LP now owns 87 shares of the financial services provider's stock worth $46,000 after acquiring an additional 52 shares in the last quarter. Finally, TCTC Holdings LLC boosted its holdings in Ameriprise Financial by 100.0% during the 1st quarter. TCTC Holdings LLC now owns 98 shares of the financial services provider's stock valued at $47,000 after acquiring an additional 49 shares during the period. Institutional investors and hedge funds own 83.95% of the company's stock.

Ameriprise Financial Stock Performance

Shares of NYSE AMP traded up $6.06 during trading hours on Friday, reaching $504.51. The stock had a trading volume of 331,576 shares, compared to its average volume of 510,660. The firm has a market cap of $48.04 billion, a price-to-earnings ratio of 15.70, a PEG ratio of 1.09 and a beta of 1.24. Ameriprise Financial, Inc. has a fifty-two week low of $396.14 and a fifty-two week high of $582.05. The firm has a 50-day moving average of $521.95 and a 200-day moving average of $509.54. The company has a current ratio of 0.62, a quick ratio of 0.60 and a debt-to-equity ratio of 0.95.

Ameriprise Financial (NYSE:AMP - Get Free Report) last announced its earnings results on Thursday, July 24th. The financial services provider reported $9.11 earnings per share (EPS) for the quarter, topping 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 business had revenue of $4.49 billion for the quarter, compared to analyst estimates of $4.33 billion. During the same period last year, the firm posted $8.72 earnings per share. The company's revenue for the quarter was up 2.2% compared to the same quarter last year. Equities research analysts predict that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current year.

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

Ameriprise Financial Announces Dividend

The business also recently disclosed 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. The ex-dividend date of this dividend is Monday, August 4th. This represents a $6.40 annualized dividend and a yield of 1.3%. Ameriprise Financial's dividend payout ratio is currently 19.91%.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the stock. Morgan Stanley lowered shares of Ameriprise Financial from an "equal weight" rating to an "underweight" rating and boosted 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 target price on shares of Ameriprise Financial from $520.00 to $550.00 and gave the stock a "market perform" rating in a report on Wednesday, July 9th. Piper Sandler boosted their price target on shares of Ameriprise Financial from $423.00 to $434.00 and gave the stock an "underweight" rating in a research note on Thursday, July 3rd. Royal Bank Of Canada upped their price objective on Ameriprise Financial from $595.00 to $601.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 30th. Finally, Raymond James Financial raised their target price 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 equities research analysts have rated the stock with a sell rating, five have issued a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, Ameriprise Financial presently has a consensus rating of "Hold" and an average price target of $534.71.

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.