Ameriprise Financial, Inc. $AMP Shares Bought by Lido Advisors LLC

Lido Advisors LLC boosted its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 13.6% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 13,716 shares of the financial services provider’s stock after buying an additional 1,643 shares during the period. Lido Advisors LLC’s holdings in Ameriprise Financial were worth $6,754,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. Twin Lakes Capital Management LLC purchased a new position in shares of Ameriprise Financial during the 2nd quarter worth $25,000. Balance Wealth Partners LLC purchased a new stake in shares of Ameriprise Financial in the third quarter valued at about $27,000. Cassaday & Co Wealth Management LLC purchased a new stake in shares of Ameriprise Financial in the first quarter valued at about $28,000. University of Texas Texas AM Investment Management Co. purchased a new stake in shares of Ameriprise Financial in the second quarter valued at about $28,000. Finally, Fiduciary Financial Advisors acquired a new stake in Ameriprise Financial during the second quarter worth about $30,000. 83.95% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

AMP has been the topic of a number of analyst reports. The Goldman Sachs Group reduced their target price on shares of Ameriprise Financial from $562.00 to $524.00 and set a “neutral” rating on the stock in a research note on Friday, October 2nd. Morgan Stanley dropped their price target on shares of Ameriprise Financial from $489.00 to $483.00 and set an “underweight” rating for the company in a research note on Friday, October 9th. Piper Sandler increased their price target on shares of Ameriprise Financial from $518.00 to $561.00 in a research note on Thursday, July 23rd. Keefe, Bruyette & Woods raised their price target on shares of Ameriprise Financial from $515.00 to $545.00 and gave the stock a “market perform” rating in a report on Friday, July 24th. Finally, Zacks Research lowered shares of Ameriprise Financial from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 21st. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $557.00.

Ameriprise Financial Stock Performance

Shares of Ameriprise Financial stock opened at $513.85 on Friday. Ameriprise Financial, Inc. has a 52 week low of $422.37 and a 52 week high of $572.56. The business’s fifty day simple moving average is $511.96 and its 200-day simple moving average is $493.49. The firm has a market cap of $44.61 billion, a PE ratio of 11.56, a price-to-earnings-growth ratio of 1.10 and a beta of 1.13. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 1.13.

Ameriprise Financial (NYSE:AMP) last issued its quarterly earnings data on Thursday, October 29th. The financial services provider reported $11.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $11.77 by ($0.51). The business had revenue of $5.08 billion for the quarter, compared to analyst estimates of $5.10 billion. Ameriprise Financial had a return on equity of 69.94% and a net margin of 20.99%. The firm’s revenue for the quarter was up 6.8% compared to the same quarter last year. During the same period in the previous year, the business posted $9.92 earnings per share. Equities analysts forecast that Ameriprise Financial, Inc. will post 46.43 earnings per share for the current year.

Ameriprise Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 27th. Shareholders of record on Monday, November 9th will be paid a dividend of $1.70 per share. This represents a $6.80 annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend is Monday, November 9th. Ameriprise Financial’s dividend payout ratio (DPR) is 15.30%.

Ameriprise Financial announced that its Board of Directors has authorized a share repurchase plan on Tuesday, September 29th that authorizes the company to repurchase $5.50 billion in shares. This buyback authorization authorizes the financial services provider to buy up to 12.3% of its shares through open market purchases. Stock buyback plans are usually a sign that the company’s board believes its stock is undervalued.

About Ameriprise Financial

Ameriprise Financial is a financial services company focused on helping individuals and institutions plan for and manage their finances. Its offerings include financial planning and investment advice, brokerage services, asset management, insurance and annuity products. The company traces its roots to Investors Syndicate, founded in Minneapolis in 1894. It became an independent public company in 2005 after separating from American Express, and remains headquartered in Minneapolis. Ameriprise serves clients primarily in the United States through its network of financial advisors.