Brandywine Global Investment Management LLC Raises Position in Ameriprise Financial, Inc. $AMP

Key Points

• Brandywine Global Investment Management LLC increased its stake in Ameriprise Financial by 6.4%, owning 58,002 shares valued at approximately $28.08 million as of the end of the first quarter.
• Ameriprise reported earnings of $9.11 per share, exceeding analysts' expectations, and its quarterly revenue rose by 2.2% compared to the previous year.
• The company announced a $4.50 billion share repurchase plan and is set to pay a quarterly dividend of $1.60 on August 18th, indicating strong financial health.

Brandywine Global Investment Management LLC boosted its position in Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 6.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 58,002 shares of the financial services provider's stock after buying an additional 3,512 shares during the quarter. Brandywine Global Investment Management LLC owned approximately 0.06% of Ameriprise Financial worth $28,079,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. GAMMA Investing LLC boosted its stake in shares of Ameriprise Financial by 1.9% during the first quarter. GAMMA Investing LLC now owns 4,367 shares of the financial services provider's stock valued at $2,114,000 after purchasing an additional 83 shares during the period. Spire Wealth Management boosted its position in Ameriprise Financial by 91.6% during the 1st quarter. Spire Wealth Management now owns 1,429 shares of the financial services provider's stock valued at $692,000 after buying an additional 683 shares during the period. Exchange Traded Concepts LLC boosted its position in Ameriprise Financial by 488.5% during the 1st quarter. Exchange Traded Concepts LLC now owns 971 shares of the financial services provider's stock valued at $470,000 after buying an additional 806 shares during the period. Wealth Enhancement Advisory Services LLC grew its holdings in Ameriprise Financial by 6.1% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 24,902 shares of the financial services provider's stock worth $12,055,000 after acquiring an additional 1,433 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. increased its position in shares of Ameriprise Financial by 7.6% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 5,917 shares of the financial services provider's stock valued at $2,864,000 after acquiring an additional 420 shares during the period. 83.95% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have commented on AMP shares. Keefe, Bruyette & Woods upped their price target on Ameriprise Financial from $520.00 to $550.00 and gave the company a "market perform" rating in a research report on Wednesday, July 9th. Royal Bank Of Canada upped their price objective 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. William Blair downgraded Ameriprise Financial from an "outperform" rating to a "market perform" rating in a report on Friday, July 25th. Piper Sandler boosted their price objective on shares of Ameriprise Financial from $423.00 to $434.00 and gave the stock an "underweight" rating in a report on Thursday, July 3rd. Finally, Wall Street Zen upgraded shares of Ameriprise Financial from a "sell" rating to a "hold" rating in a research note on Friday, May 30th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, four have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, Ameriprise Financial presently has an average rating of "Hold" and a consensus price target of $534.71.

Ameriprise Financial Stock Down 0.2%

AMP stock traded down $1.2280 during trading on Thursday, hitting $504.1720. 92,867 shares of the company's stock traded hands, compared to its average volume of 503,621. The firm has a market capitalization of $47.53 billion, a P/E ratio of 15.66, a PEG ratio of 1.08 and a beta of 1.24. The business has a fifty day simple moving average of $521.06 and a two-hundred day simple moving average of $506.62. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 0.95. Ameriprise Financial, Inc. has a 1 year low of $396.14 and a 1 year high of $582.05.

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

Ameriprise Financial Announces Dividend

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

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

Ameriprise Financial 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.