TCW Group Inc. Lowers Holdings in Ameriprise Financial, Inc. (NYSE:AMP)

TCW Group Inc. lowered its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 7.7% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 120,802 shares of the financial services provider’s stock after selling 10,040 shares during the period. TCW Group Inc. owned about 0.13% of Ameriprise Financial worth $58,481,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of AMP. University of Texas Texas AM Investment Management Co. acquired a new stake in shares of Ameriprise Financial during the 4th quarter valued at about $26,000. Sunbeam Capital Management LLC purchased a new position in Ameriprise Financial during the fourth quarter worth approximately $31,000. Opal Wealth Advisors LLC acquired a new stake in Ameriprise Financial in the first quarter valued at approximately $36,000. Quarry LP grew its holdings 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 purchasing an additional 52 shares during the period. Finally, Sound Income Strategies LLC increased its position in shares of Ameriprise Financial by 68.7% in the first quarter. Sound Income Strategies LLC now owns 113 shares of the financial services provider’s stock valued at $55,000 after buying an additional 46 shares in the last quarter. Institutional investors and hedge funds own 83.95% of the company’s stock.

Ameriprise Financial Stock Performance

NYSE AMP opened at $521.03 on Friday. The stock has a market capitalization of $49.61 billion, a price-to-earnings ratio of 16.21, a PEG ratio of 1.11 and a beta of 1.23. The business’s 50 day moving average is $522.24 and its two-hundred day moving average is $511.28. Ameriprise Financial, Inc. has a 12-month low of $385.74 and a 12-month high of $582.05. The company has a current ratio of 0.62, a quick ratio of 0.60 and a debt-to-equity ratio of 0.95.

Ameriprise Financial (NYSE:AMP) last posted its quarterly earnings results on Thursday, July 24th. The financial services provider reported $9.11 earnings per share for the quarter, beating analysts’ consensus estimates of $9.00 by $0.11. The firm had revenue of $4.49 billion for the quarter, compared to the consensus estimate of $4.33 billion. Ameriprise Financial had a return on equity of 65.90% and a net margin of 18.30%. The company’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same period in the previous year, the business earned $8.72 earnings per share. Research analysts expect that Ameriprise Financial, Inc. will post 38.64 EPS for the current year.

Ameriprise Financial announced that its board has approved a stock repurchase program on Thursday, April 24th that allows the company to repurchase $4.50 billion in outstanding shares. This repurchase authorization allows the financial services provider to repurchase up to 9.9% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.

Ameriprise Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, August 18th. Stockholders of record on Monday, August 4th will be paid a dividend of $1.60 per share. 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 1.23%. Ameriprise Financial’s dividend payout ratio (DPR) is presently 19.91%.

Analyst Ratings Changes

AMP has been the topic of a number of research analyst reports. Piper Sandler lifted their price target on shares of Ameriprise Financial from $423.00 to $434.00 and gave the company an “underweight” rating in a research note on Thursday, July 3rd. Morgan Stanley lowered shares of Ameriprise Financial from an “equal weight” rating to an “underweight” rating and lifted their target price for the company from $462.00 to $530.00 in a research report on Tuesday, July 15th. 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. Royal Bank Of Canada raised their price target on shares of Ameriprise Financial from $565.00 to $595.00 and gave the company an “outperform” rating in a research note on Thursday, July 10th. Finally, Keefe, Bruyette & Woods boosted their price objective on Ameriprise Financial from $520.00 to $550.00 and gave the stock a “market perform” rating in a research note on Wednesday, July 9th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $533.86.

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.