Lido Advisors LLC Buys 1,581 Shares of Ameriprise Financial, Inc. $AMP

Lido Advisors LLC increased its stake in shares of Ameriprise Financial, Inc. (NYSE:AMPFree Report) by 14.8% during the first quarter, HoldingsChannel reports. The fund owned 12,250 shares of the financial services provider’s stock after buying an additional 1,581 shares during the period. Lido Advisors LLC’s holdings in Ameriprise Financial were worth $5,444,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Brighton Jones LLC lifted its holdings in shares of Ameriprise Financial by 6.9% in the fourth quarter. Brighton Jones LLC now owns 777 shares of the financial services provider’s stock valued at $413,000 after purchasing an additional 50 shares in the last quarter. Empowered Funds LLC grew its holdings in shares of Ameriprise Financial by 11.8% during the first quarter. Empowered Funds LLC now owns 6,022 shares of the financial services provider’s stock worth $2,915,000 after buying an additional 634 shares in the last quarter. Sivia Capital Partners LLC grew its holdings in shares of Ameriprise Financial by 14.1% during the second quarter. Sivia Capital Partners LLC now owns 584 shares of the financial services provider’s stock worth $312,000 after buying an additional 72 shares in the last quarter. Schnieders Capital Management LLC. bought a new position in shares of Ameriprise Financial during the second quarter worth about $313,000. Finally, Gabelli Funds LLC raised its position in Ameriprise Financial by 224.8% in the 2nd quarter. Gabelli Funds LLC now owns 4,222 shares of the financial services provider’s stock valued at $2,253,000 after buying an additional 2,922 shares during the last quarter. 83.95% of the stock is owned by institutional investors.

Ameriprise Financial Price Performance

Shares of AMP opened at $528.79 on Friday. The company has a market cap of $47.54 billion, a price-to-earnings ratio of 12.75, a PEG ratio of 0.93 and a beta of 1.16. Ameriprise Financial, Inc. has a 1-year low of $422.37 and a 1-year high of $550.18. The company’s fifty day simple moving average is $476.19 and its 200 day simple moving average is $475.03. The company has a current ratio of 0.71, a quick ratio of 0.66 and a debt-to-equity ratio of 0.99.

Ameriprise Financial (NYSE:AMPGet Free Report) last posted its quarterly earnings results on Thursday, July 23rd. The financial services provider reported $11.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $10.81 by $0.26. The firm had revenue of $4.90 billion for the quarter, compared to analyst estimates of $4.87 billion. Ameriprise Financial had a net margin of 20.24% and a return on equity of 64.19%. The company’s quarterly revenue was up 11.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $9.11 earnings per share. On average, research analysts forecast that Ameriprise Financial, Inc. will post 43.74 earnings per share for the current fiscal year.

Ameriprise Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 21st. Stockholders of record on Monday, August 3rd will be paid a dividend of $1.70 per share. The ex-dividend date is Monday, August 3rd. This represents a $6.80 annualized dividend and a dividend yield of 1.3%. Ameriprise Financial’s payout ratio is currently 16.91%.

Wall Street Analysts Forecast Growth

AMP has been the topic of several research reports. BMO Capital Markets boosted their target price on Ameriprise Financial from $470.00 to $490.00 and gave the company a “market perform” rating in a research note on Friday, April 24th. Jefferies Financial Group raised their price target 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. Keefe, Bruyette & Woods lifted their price objective on shares of Ameriprise Financial from $515.00 to $545.00 and gave the company a “market perform” rating in a report on Friday. Morgan Stanley boosted their price objective on shares of Ameriprise Financial from $467.00 to $489.00 and gave the stock an “underweight” rating in a research report on Friday, July 10th. Finally, Weiss Ratings upgraded shares of Ameriprise Financial from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, July 17th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $555.33.

Check Out Our Latest Stock Report on Ameriprise Financial

Insider Transactions at Ameriprise Financial

In other news, Director Robert Francis Sharpe, Jr. sold 1,200 shares of the company’s stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $465.83, for a total value of $558,996.00. Following the sale, the director directly owned 6,300 shares of the company’s stock, valued at approximately $2,934,729. This represents a 16.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Gerard P. Smyth sold 6,255 shares of the firm’s stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $472.52, for a total transaction of $2,955,612.60. Following the completion of the sale, the executive vice president owned 6,103 shares of the company’s stock, valued at $2,883,789.56. This trade represents a 50.61% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.60% of the stock is currently owned by corporate insiders.

Ameriprise Financial News Summary

Here are the key news stories impacting Ameriprise Financial this week:

Ameriprise Financial Company Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Ameriprise Financial (NYSE:AMP)

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