Dimensional Fund Advisors LP Acquires 110,319 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

Dimensional Fund Advisors LP lifted its holdings in Ameriprise Financial, Inc. (NYSE:AMP) by 10.8% in the second quarter, according to the company in its most recent filing with the SEC. The fund owned 1,129,632 shares of the financial services provider’s stock after acquiring an additional 110,319 shares during the quarter. Dimensional Fund Advisors LP owned 1.14% of Ameriprise Financial worth $482,588,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in AMP. Janney Montgomery Scott LLC lifted its holdings in shares of Ameriprise Financial by 4.8% in the 4th quarter. Janney Montgomery Scott LLC now owns 16,658 shares of the financial services provider’s stock worth $6,328,000 after acquiring an additional 765 shares during the last quarter. Independent Advisor Alliance raised its holdings in Ameriprise Financial by 16.6% during the 4th quarter. Independent Advisor Alliance now owns 2,749 shares of the financial services provider’s stock valued at $1,044,000 after buying an additional 391 shares during the last quarter. TrinityPoint Wealth LLC raised its holdings in Ameriprise Financial by 15.4% during the 4th quarter. TrinityPoint Wealth LLC now owns 1,697 shares of the financial services provider’s stock valued at $645,000 after buying an additional 227 shares during the last quarter. ING Groep NV raised its holdings in Ameriprise Financial by 44.0% during the 4th quarter. ING Groep NV now owns 18,551 shares of the financial services provider’s stock valued at $7,046,000 after buying an additional 5,667 shares during the last quarter. Finally, Norges Bank bought a new stake in Ameriprise Financial during the 4th quarter valued at $514,539,000. 83.95% of the stock is currently owned by institutional investors.

Insider Transactions at Ameriprise Financial

In other news, VP William Davies sold 8,700 shares of the company’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $442.07, for a total value of $3,846,009.00. Following the sale, the vice president now directly owns 13,199 shares of the company’s stock, valued at approximately $5,834,881.93. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.73% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. Royal Bank of Canada upped their price target on shares of Ameriprise Financial from $487.00 to $500.00 and gave the company an “outperform” rating in a report on Tuesday, July 30th. Keefe, Bruyette & Woods lowered their price target on shares of Ameriprise Financial from $470.00 to $460.00 and set a “market perform” rating for the company in a report on Tuesday, July 30th. UBS Group lowered their price target on shares of Ameriprise Financial from $500.00 to $495.00 and set a “buy” rating for the company in a report on Tuesday, July 9th. Morgan Stanley reduced their price objective on shares of Ameriprise Financial from $444.00 to $440.00 and set an “equal weight” rating on the stock in a research report on Monday, July 29th. Finally, Jefferies Financial Group boosted their price objective on shares of Ameriprise Financial from $500.00 to $504.00 and gave the company a “buy” rating in a research report on Friday, June 28th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, Ameriprise Financial currently has a consensus rating of “Hold” and a consensus price target of $464.33.

Ameriprise Financial Stock Up 1.1 %

NYSE:AMP opened at $445.14 on Tuesday. The firm’s 50-day moving average price is $428.80 and its 200-day moving average price is $427.44. The company has a market capitalization of $44.21 billion, a PE ratio of 15.15, a P/E/G ratio of 0.75 and a beta of 1.35. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.59 and a quick ratio of 0.59. Ameriprise Financial, Inc. has a 1-year low of $306.63 and a 1-year high of $450.35.

Ameriprise Financial (NYSE:AMP) last released its earnings results on Wednesday, July 24th. The financial services provider reported $8.72 earnings per share for the quarter, topping analysts’ consensus estimates of $8.53 by $0.19. The firm had revenue of $4.39 billion for the quarter, compared to the consensus estimate of $4.24 billion. Ameriprise Financial had a net margin of 18.64% and a return on equity of 73.83%. The company’s revenue was up 9.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $7.44 EPS. On average, equities analysts predict that Ameriprise Financial, Inc. will post 34.81 EPS for the current fiscal year.

Ameriprise Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 16th. Stockholders of record on Monday, August 5th were given a $1.48 dividend. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.33%. The ex-dividend date of this dividend was Monday, August 5th. Ameriprise Financial’s dividend payout ratio is presently 20.15%.

Ameriprise Financial Company 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.