Lincoln National Corp Raises Stake in Ameriprise Financial, Inc. (NYSE:AMP)

Lincoln National Corp increased its stake in Ameriprise Financial, Inc. (NYSE:AMP) by 35.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,588 shares of the financial services provider’s stock after buying an additional 682 shares during the period. Lincoln National Corp’s holdings in Ameriprise Financial were worth $983,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in AMP. OFI Invest Asset Management bought a new position in shares of Ameriprise Financial during the 3rd quarter worth $25,000. Turtle Creek Wealth Advisors LLC bought a new position in Ameriprise Financial during the 4th quarter worth about $34,000. Carmel Capital Partners LLC purchased a new position in Ameriprise Financial during the 3rd quarter valued at about $30,000. Wetzel Investment Advisors Inc. bought a new stake in shares of Ameriprise Financial in the 4th quarter valued at about $34,000. Finally, Fortitude Family Office LLC purchased a new stake in shares of Ameriprise Financial in the 4th quarter worth approximately $39,000. Institutional investors own 83.95% of the company’s stock.

Insider Buying and Selling at Ameriprise Financial

In other news, SVP Dawn M. Brockman sold 224 shares of the company’s stock in a transaction dated Tuesday, March 26th. The stock was sold at an average price of $434.13, for a total value of $97,245.12. Following the sale, the senior vice president now owns 1,288 shares in the company, valued at $559,159.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, SVP Dawn M. Brockman sold 224 shares of the stock in a transaction dated Tuesday, March 26th. The shares were sold at an average price of $434.13, for a total transaction of $97,245.12. Following the sale, the senior vice president now directly owns 1,288 shares of the company’s stock, valued at approximately $559,159.44. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO James M. Cracchiolo sold 12,000 shares of Ameriprise Financial stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $401.48, for a total value of $4,817,760.00. Following the completion of the transaction, the chief executive officer now owns 169,012 shares of the company’s stock, valued at approximately $67,854,937.76. The disclosure for this sale can be found here. In the last quarter, insiders sold 56,980 shares of company stock worth $23,053,480. Insiders own 0.96% of the company’s stock.

Wall Street Analysts Forecast Growth

AMP has been the subject of a number of recent research reports. Piper Sandler boosted their price objective on shares of Ameriprise Financial from $360.00 to $392.00 and gave the stock an “underweight” rating in a research note on Friday, April 5th. Argus boosted their price target on Ameriprise Financial from $440.00 to $460.00 and gave the stock a “buy” rating in a research report on Monday. Royal Bank of Canada raised their price objective on Ameriprise Financial from $470.00 to $480.00 and gave the company an “outperform” rating in a research report on Wednesday, April 24th. Morgan Stanley lifted their target price on Ameriprise Financial from $400.00 to $437.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 9th. Finally, The Goldman Sachs Group increased their price target on shares of Ameriprise Financial from $437.00 to $488.00 and gave the company a “buy” rating in a research report on Wednesday, March 27th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $450.88.

Ameriprise Financial Stock Up 1.0 %

Shares of AMP stock opened at $430.18 on Friday. Ameriprise Financial, Inc. has a fifty-two week low of $286.58 and a fifty-two week high of $440.67. The firm has a market capitalization of $43.10 billion, a PE ratio of 14.64, a P/E/G ratio of 0.71 and a beta of 1.35. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.56 and a current ratio of 0.56. The stock’s 50-day simple moving average is $421.16 and its 200-day simple moving average is $386.42.

Ameriprise Financial (NYSE:AMP) last posted its quarterly earnings results on Wednesday, April 24th. The financial services provider reported $8.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $8.10 by $0.29. The company had revenue of $4.15 billion during the quarter, compared to analyst estimates of $4.15 billion. Ameriprise Financial had a net margin of 19.42% and a return on equity of 75.97%. Ameriprise Financial’s revenue for the quarter was up 10.8% compared to the same quarter last year. During the same period last year, the firm posted $7.25 EPS. Equities analysts expect that Ameriprise Financial, Inc. will post 34.74 earnings per share for the current year.

Ameriprise Financial Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 17th. Shareholders of record on Monday, May 6th will be given a dividend of $1.48 per share. This is an increase from Ameriprise Financial’s previous quarterly dividend of $1.35. This represents a $5.92 annualized dividend and a yield of 1.38%. The ex-dividend date is Friday, May 3rd. Ameriprise Financial’s dividend payout ratio (DPR) is currently 20.15%.

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.