LSV Asset Management Has $398.51 Million Stock Holdings in Ameriprise Financial, Inc. (NYSE:AMP)

LSV Asset Management trimmed its position in Ameriprise Financial, Inc. (NYSE:AMP) by 4.2% during the first quarter, HoldingsChannel.com reports. The fund owned 908,915 shares of the financial services provider’s stock after selling 40,010 shares during the period. Ameriprise Financial makes up approximately 0.8% of LSV Asset Management’s investment portfolio, making the stock its 22nd biggest holding. LSV Asset Management’s holdings in Ameriprise Financial were worth $398,505,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the company. Envestnet Portfolio Solutions Inc. raised its position in shares of Ameriprise Financial by 8.1% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 32,379 shares of the financial services provider’s stock valued at $14,196,000 after acquiring an additional 2,416 shares during the period. Empirical Finance LLC raised its holdings in Ameriprise Financial by 3.0% during the 1st quarter. Empirical Finance LLC now owns 3,896 shares of the financial services provider’s stock worth $1,708,000 after buying an additional 113 shares during the period. Geneos Wealth Management Inc. raised its holdings in Ameriprise Financial by 57.5% during the 1st quarter. Geneos Wealth Management Inc. now owns 137 shares of the financial services provider’s stock worth $60,000 after buying an additional 50 shares during the period. WBI Investments LLC raised its holdings in Ameriprise Financial by 11.2% during the 1st quarter. WBI Investments LLC now owns 3,519 shares of the financial services provider’s stock worth $1,543,000 after buying an additional 355 shares during the period. Finally, Affinity Investment Advisors LLC raised its holdings in Ameriprise Financial by 5.0% during the 1st quarter. Affinity Investment Advisors LLC now owns 4,897 shares of the financial services provider’s stock worth $2,147,000 after buying an additional 231 shares during the period. 83.95% of the stock is currently owned by institutional investors and hedge funds.

Ameriprise Financial Stock Up 1.4 %

Shares of AMP traded up $6.36 during mid-day trading on Friday, hitting $446.18. 348,039 shares of the company’s stock were exchanged, compared to its average volume of 472,836. Ameriprise Financial, Inc. has a 52 week low of $306.63 and a 52 week high of $449.51. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.56 and a quick ratio of 0.56. The company has a 50-day simple moving average of $432.29 and a 200 day simple moving average of $413.93. The company has a market cap of $44.31 billion, a PE ratio of 15.22, a P/E/G ratio of 0.75 and a beta of 1.37.

Ameriprise Financial (NYSE:AMP) last released its earnings results on Wednesday, April 24th. The financial services provider reported $8.39 earnings per share for the quarter, beating the consensus estimate of $8.10 by $0.29. Ameriprise Financial had a net margin of 19.42% and a return on equity of 75.97%. The business had revenue of $4.15 billion during the quarter, compared to analysts’ expectations of $4.15 billion. During the same period last year, the business earned $7.25 earnings per share. The firm’s revenue was up 10.8% on a year-over-year basis. On average, research analysts forecast that Ameriprise Financial, Inc. will post 34.93 earnings per share for the current fiscal year.

Ameriprise Financial Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 17th. Investors of record on Monday, May 6th were paid a $1.48 dividend. The ex-dividend date was Friday, May 3rd. This is a boost from Ameriprise Financial’s previous quarterly dividend of $1.35. This represents a $5.92 annualized dividend and a dividend yield of 1.33%. Ameriprise Financial’s dividend payout ratio (DPR) is currently 20.15%.

Insider Activity at Ameriprise Financial

In related news, Director Robert Francis Sharpe, Jr. sold 1,500 shares of the firm’s stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $438.07, for a total value of $657,105.00. Following the completion of the transaction, the director now directly owns 11,000 shares of the company’s stock, valued at $4,818,770. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.73% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts have commented on AMP shares. Evercore ISI raised their target price on shares of Ameriprise Financial from $400.00 to $445.00 and gave the stock an “in-line” rating in a report on Thursday, April 11th. Morgan Stanley raised their target price on shares of Ameriprise Financial from $400.00 to $437.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 9th. Argus raised their target price on shares of Ameriprise Financial from $440.00 to $460.00 and gave the stock a “buy” rating in a report on Monday, May 6th. UBS Group dropped their target price on shares of Ameriprise Financial from $500.00 to $495.00 and set a “buy” rating on the stock in a report on Tuesday. Finally, Keefe, Bruyette & Woods raised their price target on shares of Ameriprise Financial from $460.00 to $470.00 and gave the stock a “market perform” rating in a research note on Monday. One analyst has rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, Ameriprise Financial has an average rating of “Hold” and a consensus price target of $462.89.

About Ameriprise Financial

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.