Lido Advisors LLC Decreases Stake in Ameriprise Financial, Inc. (NYSE:AMP)

Lido Advisors LLC lowered its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 57.3% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 10,489 shares of the financial services provider's stock after selling 14,054 shares during the quarter. Lido Advisors LLC's holdings in Ameriprise Financial were worth $5,585,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. TCTC Holdings LLC bought a new position in shares of Ameriprise Financial in the fourth quarter worth $26,000. Whipplewood Advisors LLC bought a new position in shares of Ameriprise Financial in the fourth quarter valued at approximately $28,000. Rialto Wealth Management LLC purchased a new position in Ameriprise Financial during the fourth quarter valued at approximately $28,000. Wingate Wealth Advisors Inc. bought a new stake in Ameriprise Financial during the 4th quarter worth approximately $30,000. Finally, Sound Income Strategies LLC purchased a new stake in Ameriprise Financial in the 4th quarter worth approximately $36,000. 83.95% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

AMP has been the topic of a number of recent analyst reports. Royal Bank of Canada increased their price objective on Ameriprise Financial from $550.00 to $565.00 and gave the stock an "outperform" rating in a research report on Tuesday. Piper Sandler upped their price objective on shares of Ameriprise Financial from $415.00 to $442.00 and gave the stock an "underweight" rating in a research report on Friday, January 31st. Morgan Stanley lifted their target price on shares of Ameriprise Financial from $507.00 to $542.00 and gave the company an "equal weight" rating in a research report on Tuesday, March 4th. Raymond James raised shares of Ameriprise Financial from a "market perform" rating to a "strong-buy" rating and set a $518.00 price target on the stock in a report on Monday, April 7th. Finally, Keefe, Bruyette & Woods lowered their price objective on shares of Ameriprise Financial from $520.00 to $510.00 and set a "market perform" rating on the stock in a research report on Tuesday. One research analyst has rated the stock with a sell rating, four have issued a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $509.67.

Insider Activity

In related news, insider Joseph Edward Sweeney sold 4,636 shares of the company's stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $539.07, for a total value of $2,499,128.52. Following the sale, the insider now owns 7,237 shares in the company, valued at $3,901,249.59. This represents a 39.05 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO William F. Truscott sold 6,000 shares of Ameriprise Financial stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $540.29, for a total value of $3,241,740.00. Following the transaction, the chief executive officer now owns 14,023 shares of the company's stock, valued at $7,576,486.67. The trade was a 29.97 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 11,636 shares of company stock worth $6,263,989. Corporate insiders own 0.57% of the company's stock.

Ameriprise Financial Trading Up 2.9 %

AMP traded up $13.75 during midday trading on Friday, reaching $484.28. 341,533 shares of the company's stock traded hands, compared to its average volume of 490,974. Ameriprise Financial, Inc. has a 52 week low of $385.74 and a 52 week high of $582.05. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.59 and a quick ratio of 0.59. The firm has a fifty day moving average of $480.71 and a two-hundred day moving average of $521.15. The stock has a market capitalization of $46.40 billion, a price-to-earnings ratio of 14.65, a P/E/G ratio of 1.15 and a beta of 1.23.

Ameriprise Financial (NYSE:AMP - Get Free Report) last announced its earnings results on Thursday, April 24th. The financial services provider reported $9.50 EPS for the quarter, beating analysts' consensus estimates of $9.08 by $0.42. The company had revenue of $4.35 billion during the quarter, compared to the consensus estimate of $4.45 billion. Ameriprise Financial had a return on equity of 69.35% and a net margin of 19.70%. The firm's revenue for the quarter was up 3.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $8.39 earnings per share. On average, equities analysts anticipate that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current fiscal year.

Ameriprise Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, May 19th. Shareholders of record on Monday, May 5th will be issued a $1.60 dividend. This is an increase from Ameriprise Financial's previous quarterly dividend of $1.48. The ex-dividend date is Monday, May 5th. This represents a $6.40 dividend on an annualized basis and a yield of 1.32%. Ameriprise Financial's dividend payout ratio is 21.75%.

Ameriprise Financial announced that its board has authorized a share repurchase plan on Thursday, April 24th that permits the company to buyback $4.50 billion in shares. This buyback authorization permits the financial services provider to purchase up to 9.9% of its stock through open market purchases. Stock buyback plans are often an indication that the company's board believes its shares are undervalued.

Ameriprise Financial 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.