Ameriprise Financial, Inc. $AMP Shares Newly Acquired by Lincoln Capital LLC

Lincoln Capital LLC acquired a new stake in Ameriprise Financial, Inc. (NYSE:AMP) in the 3rd quarter, according to its most recent filing with the SEC. The fund acquired 5,196 shares of the financial services provider’s stock, valued at approximately $2,558,000.

Several other institutional investors have also added to or reduced their stakes in the stock. Twin Lakes Capital Management LLC bought a new position in Ameriprise Financial during the 2nd quarter worth about $25,000. University of Texas Texas AM Investment Management Co. bought a new position in shares of Ameriprise Financial during the second quarter worth about $28,000. Cassaday & Co Wealth Management LLC acquired a new stake in Ameriprise Financial in the 1st quarter valued at approximately $28,000. Fiduciary Financial Advisors bought a new stake in Ameriprise Financial in the 2nd quarter valued at approximately $30,000. Finally, Retirement Wealth Solutions LLC boosted its position in Ameriprise Financial by 7,300.0% during the 3rd quarter. Retirement Wealth Solutions LLC now owns 74 shares of the financial services provider’s stock worth $36,000 after acquiring an additional 73 shares during the last quarter. 83.95% of the stock is owned by institutional investors.

Ameriprise Financial Stock Performance

AMP stock traded up $1.48 during trading hours on Friday, reaching $500.56. The stock had a trading volume of 487,136 shares, compared to its average volume of 643,844. The stock has a 50-day simple moving average of $540.34 and a 200 day simple moving average of $495.47. Ameriprise Financial, Inc. has a fifty-two week low of $422.37 and a fifty-two week high of $572.56. The stock has a market capitalization of $45.00 billion, a PE ratio of 12.07, a price-to-earnings-growth ratio of 1.01 and a beta of 1.16. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.71 and a quick ratio of 0.71.

Ameriprise Financial (NYSE:AMP) last issued its earnings results on Thursday, July 23rd. The financial services provider reported $11.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $10.81 by $0.26. Ameriprise Financial had a net margin of 20.24% and a return on equity of 64.19%. The company had revenue of $4.90 billion for the quarter, compared to analysts’ expectations of $4.87 billion. During the same period in the prior year, the firm earned $9.11 EPS. Ameriprise Financial’s quarterly revenue was up 11.6% compared to the same quarter last year. Analysts predict that Ameriprise Financial, Inc. will post 46.14 EPS for the current fiscal year.

Ameriprise Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 21st. Stockholders of record on Monday, August 3rd were given a $1.70 dividend. This represents a $6.80 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend was Monday, August 3rd. Ameriprise Financial’s dividend payout ratio (DPR) is presently 16.40%.

Ameriprise Financial announced that its Board of Directors has initiated a stock repurchase plan on Tuesday, September 29th that authorizes the company to repurchase $5.50 billion in shares. This repurchase authorization authorizes the financial services provider to purchase up to 12.3% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

Analyst Upgrades and Downgrades

AMP has been the topic of a number of recent research reports. Zacks Research downgraded shares of Ameriprise Financial from a “strong-buy” rating to a “hold” rating in a report on Monday, September 21st. BMO Capital Markets lowered their price target on shares of Ameriprise Financial from $560.00 to $520.00 and set a “market perform” rating on the stock in a research note on Tuesday. Keefe, Bruyette & Woods boosted their price target on shares of Ameriprise Financial from $515.00 to $545.00 and gave the stock a “market perform” rating in a research report on Friday, July 24th. Jefferies Financial Group increased their price objective on shares of Ameriprise Financial from $636.00 to $645.00 and gave the stock a “buy” rating in a research note on Friday, July 10th. Finally, Weiss Ratings raised Ameriprise Financial from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday, September 3rd. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $558.00.

Insiders Place Their Bets

In related news, insider William Williams sold 8,210 shares of the business’s stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $539.35, for a total transaction of $4,428,063.50. Following the transaction, the insider directly owned 6,780 shares of the company’s stock, valued at approximately $3,656,793. The trade was a 54.77% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Walter Berman sold 11,012 shares of Ameriprise Financial stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $548.95, for a total transaction of $6,045,037.40. Following the transaction, the chief financial officer directly owned 5,609 shares of the company’s stock, valued at approximately $3,079,060.55. This trade represents a 66.25% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 29,988 shares of company stock valued at $16,316,497. 0.60% of the stock is owned by insiders.

Ameriprise Financial Profile

Ameriprise Financial, Inc is a diversified financial services company headquartered in Minneapolis, Minnesota. The company provides financial planning, investment advice, wealth management, retirement planning and insurance solutions to individuals, families, business owners and institutional clients.

Ameriprise serves clients primarily through a network of financial advisors and offers products and services that include brokerage and advisory accounts, mutual funds and other investments, retirement accounts, annuities, life and long-term-care insurance, banking products and personalized financial planning.