Lincoln National Corp Increases Stock Holdings in Ameriprise Financial, Inc. (NYSE:AMP)

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

Several other institutional investors and hedge funds have also made changes to their positions in AMP. Royal Bank of Canada raised its position in Ameriprise Financial by 2.4% during the third quarter. Royal Bank of Canada now owns 894,744 shares of the financial services provider’s stock worth $294,979,000 after acquiring an additional 20,970 shares during the last quarter. Invesco Ltd. lifted its stake in Ameriprise Financial by 13.4% in the 3rd quarter. Invesco Ltd. now owns 672,823 shares of the financial services provider’s stock valued at $221,816,000 after buying an additional 79,611 shares in the last quarter. Envestnet Asset Management Inc. grew its holdings in Ameriprise Financial by 12.5% during the 3rd quarter. Envestnet Asset Management Inc. now owns 620,048 shares of the financial services provider’s stock valued at $204,417,000 after buying an additional 69,078 shares during the last quarter. Barclays PLC increased its position in Ameriprise Financial by 63.9% during the third quarter. Barclays PLC now owns 350,391 shares of the financial services provider’s stock worth $115,517,000 after buying an additional 136,621 shares in the last quarter. Finally, Federated Hermes Inc. raised its holdings in shares of Ameriprise Financial by 6.0% in the fourth quarter. Federated Hermes Inc. now owns 304,953 shares of the financial services provider’s stock worth $115,830,000 after acquiring an additional 17,307 shares during the last quarter. 83.95% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Evercore ISI increased their price objective on Ameriprise Financial from $400.00 to $445.00 and gave the company an “in-line” rating in a research note on Thursday, April 11th. Raymond James assumed coverage on shares of Ameriprise Financial in a report on Thursday, March 21st. They set a “market perform” rating for the company. Royal Bank of Canada upped their price objective on shares of Ameriprise Financial from $470.00 to $480.00 and gave the company an “outperform” rating in a research note on Wednesday, April 24th. Morgan Stanley lifted their target price on shares of Ameriprise Financial from $400.00 to $437.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 9th. Finally, Argus increased their price target on Ameriprise Financial from $440.00 to $460.00 and gave the stock a “buy” rating in a research note on Monday. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $450.88.

Ameriprise Financial Stock Performance

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

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

Ameriprise Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 17th. Stockholders of record on Monday, May 6th will be paid a $1.48 dividend. This is a positive change from Ameriprise Financial’s previous quarterly dividend of $1.35. This represents a $5.92 annualized dividend and a dividend yield of 1.38%. The ex-dividend date is Friday, May 3rd. Ameriprise Financial’s payout ratio is currently 20.15%.

Insider Transactions at Ameriprise Financial

In other news, CEO James M. Cracchiolo sold 2,493 shares of the firm’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $401.11, for a total value of $999,967.23. Following the transaction, the chief executive officer now owns 196,598 shares of the company’s stock, valued at approximately $78,857,423.78. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Ameriprise Financial news, CEO William F. Truscott sold 8,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $412.05, for a total value of $3,296,400.00. Following the completion of the transaction, the chief executive officer now owns 13,134 shares in the company, valued at approximately $5,411,864.70. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO James M. Cracchiolo sold 2,493 shares of the stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $401.11, for a total transaction of $999,967.23. Following the completion of the sale, the chief executive officer now directly owns 196,598 shares of the company’s stock, valued at approximately $78,857,423.78. 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. 0.96% of the stock is currently owned by company insiders.

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.