Sei Investments Co. Has $129.04 Million Position in Ameriprise Financial, Inc. $AMP

Key Points

• Sei Investments Co. reduced its stake in Ameriprise Financial by 0.3%, selling 816 shares and holding 244,351 shares, which represents approximately 1.2% of its investment portfolio.
• Ameriprise Financial recently reported a $9.11 EPS for the quarter, exceeding expectations and showing a 2.2% increase in revenue year-over-year.
• The company announced a quarterly dividend of $1.60 per share, with a payout ratio of 19.91%, indicating strong dividend sustainability.

Sei Investments Co. trimmed its stake in Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 0.3% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 244,351 shares of the financial services provider's stock after selling 816 shares during the quarter. Ameriprise Financial makes up 1.2% of Sei Investments Co.'s holdings, making the stock its 17th largest holding. Sei Investments Co. owned about 0.26% of Ameriprise Financial worth $129,039,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also made changes to their positions in the company. University of Texas Texas AM Investment Management Co. acquired a new stake in shares of Ameriprise Financial during the 4th quarter worth approximately $26,000. Sunbeam Capital Management LLC bought a new position in shares of Ameriprise Financial during the 4th quarter worth about $31,000. Opal Wealth Advisors LLC acquired a new stake in shares of Ameriprise Financial during the 1st quarter valued at about $36,000. Quarry LP increased its stake in Ameriprise Financial by 148.6% in the fourth quarter. Quarry LP now owns 87 shares of the financial services provider's stock valued at $46,000 after acquiring an additional 52 shares during the period. Finally, TCTC Holdings LLC raised its position in Ameriprise Financial by 100.0% in the first quarter. TCTC Holdings LLC now owns 98 shares of the financial services provider's stock worth $47,000 after purchasing an additional 49 shares in the last quarter. Institutional investors and hedge funds own 83.95% of the company's stock.

Ameriprise Financial Stock Up 0.4%

Shares of NYSE:AMP traded up $2.11 during midday trading on Monday, reaching $505.19. 365,645 shares of the company were exchanged, compared to its average volume of 507,758. The firm has a market cap of $47.62 billion, a PE ratio of 15.72, a P/E/G ratio of 1.07 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 stock has a fifty day simple moving average of $521.74 and a two-hundred day simple moving average of $506.90. 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 (NYSE:AMP - Get Free Report) last posted its quarterly earnings data on Thursday, July 24th. The financial services provider reported $9.11 earnings per share for the quarter, topping the consensus estimate of $9.00 by $0.11. Ameriprise Financial had a return on equity of 65.90% and a net margin of 18.30%. The company had revenue of $4.49 billion during the quarter, compared to analysts' expectations of $4.33 billion. During the same period in the prior year, the firm earned $8.72 earnings per share. Ameriprise Financial's revenue for the quarter was up 2.2% compared to the same quarter last year. As a group, 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 has approved a stock repurchase plan on Thursday, April 24th that authorizes the company to repurchase $4.50 billion in shares. This repurchase authorization authorizes the financial services provider to reacquire up to 9.9% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's management believes its stock is undervalued.

Ameriprise Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, August 18th. Investors of record on Monday, August 4th will be given a $1.60 dividend. The ex-dividend date of this dividend is Monday, August 4th. This represents a $6.40 dividend on an annualized basis and a dividend yield of 1.3%. Ameriprise Financial's payout ratio is currently 19.91%.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on AMP shares. Piper Sandler increased their price objective on Ameriprise Financial from $423.00 to $434.00 and gave the stock an "underweight" rating in a research note on Thursday, July 3rd. Raymond James Financial upped their price target on shares of Ameriprise Financial from $518.00 to $582.00 and gave the stock a "strong-buy" rating in a research report on Friday, July 25th. Wall Street Zen upgraded shares of Ameriprise Financial from a "sell" rating to a "hold" rating in a research report on Friday, May 30th. Royal Bank Of Canada upped their price target on Ameriprise Financial from $595.00 to $601.00 and gave the company an "outperform" rating in a research note on Wednesday, July 30th. Finally, William Blair lowered Ameriprise Financial from an "outperform" rating to a "market perform" 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 issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Ameriprise Financial presently has a consensus rating of "Hold" and an average target price 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.