Ameriprise Financial, Inc. $AMP Shares Sold by Dimensional Fund Advisors LP

Key Points

• Dimensional Fund Advisors LP reduced its stake in Ameriprise Financial, Inc. by 6.1%, owning approximately 1.14% of the company after selling 71,301 shares during the first quarter.
• Ameriprise Financial reported earnings of $9.11 per share for the last quarter, exceeding estimates, with a revenue increase of 2.2% year-over-year.
• The company has authorized a $4.50 billion stock buyback program, indicating confidence in its stock valuation, alongside a quarterly dividend of $1.60 to be paid in August.

Dimensional Fund Advisors LP reduced its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 6.1% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 1,089,548 shares of the financial services provider's stock after selling 71,301 shares during the period. Dimensional Fund Advisors LP owned approximately 1.14% of Ameriprise Financial worth $527,427,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of AMP. Brighton Jones LLC grew its position in shares of Ameriprise Financial by 6.9% during the 4th 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 period. Mariner LLC grew its position in shares of Ameriprise Financial by 0.4% during the 4th quarter. Mariner LLC now owns 30,689 shares of the financial services provider's stock valued at $16,339,000 after acquiring an additional 127 shares during the period. NewEdge Advisors LLC grew its position in shares of Ameriprise Financial by 54.4% during the 4th quarter. NewEdge Advisors LLC now owns 13,697 shares of the financial services provider's stock valued at $7,293,000 after acquiring an additional 4,824 shares during the period. Marshall Wace LLP grew its position in shares of Ameriprise Financial by 1,200.6% during the 4th quarter. Marshall Wace LLP now owns 6,503 shares of the financial services provider's stock valued at $3,462,000 after acquiring an additional 6,003 shares during the period. Finally, First Commonwealth Financial Corp PA lifted its stake in Ameriprise Financial by 3.7% in the 4th quarter. First Commonwealth Financial Corp PA now owns 1,911 shares of the financial services provider's stock valued at $1,017,000 after buying an additional 69 shares in the last quarter. 83.95% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages recently weighed in on AMP. Raymond James Financial raised their price target 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. William Blair lowered shares of Ameriprise Financial from an "outperform" rating to a "market perform" rating in a research note on Friday, July 25th. Piper Sandler raised their price target on shares of Ameriprise Financial from $423.00 to $434.00 and gave the company an "underweight" rating in a research note on Thursday, July 3rd. Morgan Stanley lowered shares of Ameriprise Financial from an "equal weight" rating to an "underweight" rating and raised their price target for the company from $462.00 to $530.00 in a research note on Tuesday, July 15th. Finally, Wall Street Zen raised shares of Ameriprise Financial from a "sell" rating to a "hold" rating in a research note on Friday, May 30th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $534.71.

Ameriprise Financial Price Performance

AMP traded up $2.11 during trading on Monday, reaching $505.19. The company's stock had a trading volume of 365,789 shares, compared to its average volume of 436,854. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 0.95. The firm has a fifty day simple moving average of $521.49 and a two-hundred day simple moving average of $506.64. Ameriprise Financial, Inc. has a 1 year low of $396.14 and a 1 year high of $582.05. The company has a market cap of $47.62 billion, a price-to-earnings ratio of 15.72, a PEG ratio of 1.07 and a beta of 1.24.

Ameriprise Financial (NYSE:AMP - Get Free Report) last released 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. 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 company posted $8.72 EPS. The business's revenue was up 2.2% on a year-over-year basis. As a group, analysts anticipate that Ameriprise Financial, Inc. will post 38.64 EPS for the current year.

Ameriprise Financial Announces Dividend

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

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