LSV Asset Management Has $187.32 Million Holdings in Ameriprise Financial, Inc. (NYSE:AMP)

Key Points

• LSV Asset Management reduced its stake in Ameriprise Financial by 34.2%, now owning approximately 0.40% of the company, worth about $187.32 million.
• Ameriprise Financial reported a quarterly earnings per share of $9.11, surpassing estimates and showing a revenue increase of 2.2% year-over-year.
• The company announced a $4.50 billion stock buyback program and declared a quarterly dividend of $1.60 per share, indicating confidence in its valuation.

LSV Asset Management lessened its stake in Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 34.2% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 386,940 shares of the financial services provider's stock after selling 201,346 shares during the period. LSV Asset Management owned about 0.40% of Ameriprise Financial worth $187,322,000 at the end of the most recent reporting period.

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

Ameriprise Financial Trading Down 3.2%

AMP traded down $16.58 during trading on Friday, reaching $501.61. The company had a trading volume of 496,021 shares, compared to its average volume of 451,211. The firm's 50-day simple moving average is $522.52 and its 200 day simple moving average is $510.66. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.60 and a current ratio of 0.62. The company has a market cap of $47.76 billion, a price-to-earnings ratio of 15.61, a PEG ratio of 1.07 and a beta of 1.24. Ameriprise Financial, Inc. has a 12-month low of $385.74 and a 12-month high of $582.05.

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. The business had revenue of $4.49 billion for the quarter, compared to analyst estimates of $4.33 billion. Ameriprise Financial had a net margin of 18.30% and a return on equity of 65.90%. The firm's revenue was up 2.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $8.72 earnings per share. Equities research analysts anticipate that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current 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 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%.

Ameriprise Financial announced that its board has approved a stock repurchase 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 stock through open market purchases. Stock buyback programs are usually an indication that the company's board believes its stock is undervalued.

Analyst Ratings Changes

AMP has been the topic of several analyst reports. Morgan Stanley cut Ameriprise Financial from an "equal weight" rating to an "underweight" rating and raised their target price for the company from $462.00 to $530.00 in a research report on Tuesday, July 15th. Piper Sandler lifted their price objective 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. Wall Street Zen upgraded shares of Ameriprise Financial from a "sell" rating to a "hold" rating in a research report on Friday, May 30th. William Blair cut shares of Ameriprise Financial from an "outperform" rating to a "market perform" rating in a report on Friday, July 25th. Finally, Raymond James Financial lifted their price target on Ameriprise Financial from $518.00 to $582.00 and gave the company a "strong-buy" rating in a research report on Friday, July 25th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $534.71.

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.