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

Dimensional Fund Advisors LP lifted its position in Ameriprise Financial, Inc. (NYSE:AMP) by 2.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,024,758 shares of the financial services provider’s stock after buying an additional 19,731 shares during the quarter. Dimensional Fund Advisors LP owned about 1.12% of Ameriprise Financial worth $455,387,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in AMP. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake 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 in the 4th quarter valued at about $1,471,000. KBC Group NV raised its position in shares of Ameriprise Financial by 12.2% in the 4th quarter. KBC Group NV now owns 150,606 shares of the financial services provider’s stock valued at $73,848,000 after buying an additional 16,433 shares in the last quarter. National Pension Service raised its position in shares of Ameriprise Financial by 8.2% in the 4th quarter. National Pension Service now owns 165,543 shares of the financial services provider’s stock valued at $81,172,000 after buying an additional 12,563 shares in the last quarter. Finally, LSV Asset Management lifted its holdings in shares of Ameriprise Financial by 1.3% during the 4th quarter. LSV Asset Management now owns 272,018 shares of the financial services provider’s stock worth $133,381,000 after acquiring an additional 3,548 shares during the period. 83.95% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, EVP Gerard P. Smyth sold 6,255 shares of the company’s stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $472.52, for a total transaction of $2,955,612.60. Following the transaction, the executive vice president directly owned 6,103 shares of the company’s stock, valued at $2,883,789.56. This represents a 50.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Robert Francis Sharpe, Jr. sold 1,200 shares of the stock in a transaction on Friday, May 8th. The stock was sold at an average price of $465.83, for a total value of $558,996.00. Following the completion of the transaction, the director owned 6,300 shares in the company, valued at approximately $2,934,729. This represents a 16.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 0.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. BMO Capital Markets lifted their price objective on shares of Ameriprise Financial from $470.00 to $490.00 and gave the company a “market perform” rating in a research note on Friday, April 24th. Keefe, Bruyette & Woods initiated coverage on shares of Ameriprise Financial in a research note on Friday, April 10th. They set a “hold” rating on the stock. Piper Sandler lifted their target price on shares of Ameriprise Financial from $471.00 to $518.00 and gave the stock a “neutral” rating in a research report on Monday, July 13th. Weiss Ratings raised shares of Ameriprise Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday. Finally, Morgan Stanley upped their price target on Ameriprise Financial from $467.00 to $489.00 and gave the company an “underweight” rating in a research report on Friday, July 10th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $553.67.

Ameriprise Financial Price Performance

Shares of NYSE AMP opened at $526.58 on Tuesday. The firm’s 50-day moving average price is $471.71 and its 200-day moving average price is $473.93. Ameriprise Financial, Inc. has a 1-year low of $422.37 and a 1-year high of $550.18. The firm has a market capitalization of $47.34 billion, a P/E ratio of 13.10, a P/E/G ratio of 0.94 and a beta of 1.16. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 0.90.

Ameriprise Financial (NYSE:AMP) last issued its earnings results on Thursday, April 23rd. The financial services provider reported $11.26 EPS for the quarter, beating 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 the consensus estimate of $4.82 billion. During the same period last year, the business posted $9.50 EPS. The firm’s revenue for the quarter was up 9.7% compared to the same quarter last year. Equities research analysts anticipate that Ameriprise Financial, Inc. will post 43.74 earnings per share for the current fiscal year.

Ameriprise Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 22nd. Shareholders of record on Monday, May 4th were paid a $1.70 dividend. This represents a $6.80 dividend on an annualized basis and a yield of 1.3%. This is a boost from Ameriprise Financial’s previous quarterly dividend of $1.60. The ex-dividend date of this dividend was Monday, May 4th. Ameriprise Financial’s payout ratio is 16.91%.

Ameriprise Financial 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.