Dimensional Fund Advisors LP Has $455.39 Million Stake in Ameriprise Financial, Inc. $AMP

Dimensional Fund Advisors LP grew its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 2.0% in the first quarter, HoldingsChannel.com reports. The firm owned 1,024,758 shares of the financial services provider’s stock after purchasing an additional 19,731 shares during the period. Dimensional Fund Advisors LP’s holdings in Ameriprise Financial were worth $455,387,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in Ameriprise Financial by 5.7% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 199,258 shares of the financial services provider’s stock worth $98,388,000 after buying an additional 10,782 shares in the last quarter. Pensionfund Sabic bought a new position in Ameriprise Financial during the 4th quarter valued at $1,471,000. KBC Group NV boosted its holdings in Ameriprise Financial by 12.2% during the fourth quarter. KBC Group NV now owns 150,606 shares of the financial services provider’s stock worth $73,848,000 after purchasing an additional 16,433 shares during the last quarter. National Pension Service boosted its holdings in Ameriprise Financial by 8.2% during the fourth quarter. National Pension Service now owns 165,543 shares of the financial services provider’s stock worth $81,172,000 after purchasing an additional 12,563 shares during the last quarter. Finally, LSV Asset Management grew its position in Ameriprise Financial by 1.3% in the 4th quarter. LSV Asset Management now owns 272,018 shares of the financial services provider’s stock worth $133,381,000 after purchasing an additional 3,548 shares in the last quarter. 83.95% of the stock is owned by hedge funds and other institutional investors.

Ameriprise Financial Stock Down 0.2%

Shares of NYSE AMP opened at $526.58 on Tuesday. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.66 and a quick ratio of 0.66. The stock has a market capitalization of $47.34 billion, a PE ratio of 13.10, a P/E/G ratio of 0.94 and a beta of 1.16. Ameriprise Financial, Inc. has a one year low of $422.37 and a one year high of $550.18. The business’s fifty day moving average price is $471.71 and its 200-day moving average price is $473.93.

Ameriprise Financial (NYSE:AMP) last announced its quarterly earnings data on Thursday, April 23rd. The financial services provider reported $11.26 earnings per share for the quarter, topping the consensus estimate of $10.21 by $1.05. Ameriprise Financial had a return on equity of 62.88% and a net margin of 20.57%.The company had revenue of $4.77 billion during the quarter, compared to analyst estimates of $4.82 billion. During the same quarter last year, the firm posted $9.50 EPS. The firm’s revenue for the quarter was up 9.7% on a year-over-year basis. On average, equities research analysts anticipate that Ameriprise Financial, Inc. will post 43.74 EPS for the current year.

Ameriprise Financial Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 22nd. Stockholders of record on Monday, May 4th were paid a $1.70 dividend. The ex-dividend date was Monday, May 4th. This is a positive change from Ameriprise Financial’s previous quarterly dividend of $1.60. This represents a $6.80 annualized dividend and a dividend yield of 1.3%. Ameriprise Financial’s dividend payout ratio is 16.91%.

Insider Activity

In related news, EVP Gerard P. Smyth sold 6,255 shares of Ameriprise Financial stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $472.52, for a total value of $2,955,612.60. Following the completion of the transaction, the executive vice president directly owned 6,103 shares in the company, valued at approximately $2,883,789.56. The trade was a 50.61% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Robert Francis Sharpe, Jr. sold 1,200 shares of the business’s stock in a transaction on Friday, May 8th. The shares were sold at an average price of $465.83, for a total transaction of $558,996.00. Following the sale, the director directly owned 6,300 shares in the company, valued at $2,934,729. The trade was a 16.00% decrease in their position. The SEC filing for this sale provides additional information. 0.60% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on AMP shares. Jefferies Financial Group lifted their target price on shares of Ameriprise Financial from $636.00 to $645.00 and gave the stock a “buy” rating in a research report on Friday, July 10th. Weiss Ratings raised Ameriprise Financial from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday. BMO Capital Markets increased their price target on Ameriprise Financial from $470.00 to $490.00 and gave the company a “market perform” rating in a research report on Friday, April 24th. Keefe, Bruyette & Woods initiated coverage on Ameriprise Financial in a report on Friday, April 10th. They set a “hold” rating on the stock. Finally, Piper Sandler boosted their price objective on Ameriprise Financial from $471.00 to $518.00 and gave the stock a “neutral” rating in a research report on Monday, July 13th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $553.67.

Ameriprise Financial Company Profile

Ameriprise Financial, Inc is a diversified financial services company headquartered in Minneapolis, Minnesota. The firm provides a range of advice-based wealth management, asset management and insurance products to individual and institutional clients. Its business model centers on delivering financial planning and investment advice through a network of financial advisors alongside proprietary product offerings designed to meet retirement, protection and accumulation needs.

Core products and services include comprehensive financial planning and advisory services, managed investment portfolios, retirement planning solutions, annuities and life insurance products.