Ameriprise Financial (NYSE:AMP) Shares Down 4.3%

Shares of Ameriprise Financial, Inc. (NYSE:AMP) fell 4.3% on Tuesday . The stock traded as low as $403.31 and last traded at $403.31. 168,396 shares traded hands during trading, a decline of 66% from the average session volume of 489,164 shares. The stock had previously closed at $421.38.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on AMP. UBS Group lifted their price target on shares of Ameriprise Financial from $440.00 to $445.00 and gave the company a “buy” rating in a research note on Thursday, January 25th. Royal Bank of Canada lifted their price objective on Ameriprise Financial from $410.00 to $420.00 and gave the stock an “outperform” rating in a report on Monday, January 22nd. Evercore ISI boosted their price target on Ameriprise Financial from $400.00 to $445.00 and gave the stock an “in-line” rating in a research report on Thursday, April 11th. Morgan Stanley raised their price objective on Ameriprise Financial from $400.00 to $437.00 and gave the company an “equal weight” rating in a report on Tuesday, April 9th. Finally, Raymond James started coverage on shares of Ameriprise Financial in a research report on Thursday, March 21st. They issued a “market perform” rating for the company. One analyst has rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $441.00.

Ameriprise Financial Trading Down 3.0 %

The company’s 50-day moving average is $417.37 and its 200-day moving average is $379.18. The stock has a market capitalization of $40.97 billion, a price-to-earnings ratio of 17.77, a PEG ratio of 0.69 and a beta of 1.36. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 1.17.

Ameriprise Financial (NYSE:AMP) last announced its earnings results on Tuesday, April 23rd. The financial services provider reported $8.39 earnings per share for the quarter, topping the consensus estimate 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 16.27% and a return on equity of 77.39%. Ameriprise Financial’s revenue was up 10.8% compared to the same quarter last year. During the same quarter last year, the firm posted $7.25 earnings per share. Research analysts anticipate that Ameriprise Financial, Inc. will post 34.43 earnings per share for the current fiscal year.

Ameriprise Financial Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 17th. Shareholders of record on Monday, May 6th will be paid a dividend of $1.48 per share. This represents a $5.92 dividend on an annualized basis and a yield of 1.45%. This is a boost from Ameriprise Financial’s previous quarterly dividend of $1.35. Ameriprise Financial’s dividend payout ratio is 22.78%.

Insider Transactions at Ameriprise Financial

In related news, insider Gumer Alvero sold 1,652 shares of the firm’s stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $437.00, for a total transaction of $721,924.00. Following the completion of the transaction, the insider now directly owns 6,994 shares in the company, valued at approximately $3,056,378. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Ameriprise Financial news, insider Gumer Alvero sold 1,652 shares of the stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of $437.00, for a total transaction of $721,924.00. Following the sale, the insider now directly owns 6,994 shares in the company, valued at approximately $3,056,378. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO William F. Truscott sold 9,689 shares of the business’s stock in a transaction on Friday, January 26th. The stock was sold at an average price of $390.22, for a total transaction of $3,780,841.58. Following the completion of the transaction, the chief executive officer now owns 12,126 shares of the company’s stock, valued at approximately $4,731,807.72. The disclosure for this sale can be found here. Insiders sold a total of 89,161 shares of company stock worth $35,560,647 over the last ninety days. Company insiders own 0.96% of the company’s stock.

Institutional Investors Weigh In On Ameriprise Financial

Several large investors have recently bought and sold shares of AMP. Redmont Wealth Advisors LLC acquired a new position in shares of Ameriprise Financial during the first quarter worth about $28,000. Annapolis Financial Services LLC lifted its stake in Ameriprise Financial by 928.6% in the first quarter. Annapolis Financial Services LLC now owns 72 shares of the financial services provider’s stock worth $32,000 after acquiring an additional 65 shares during the last quarter. Sound Income Strategies LLC acquired a new position in Ameriprise Financial during the 1st quarter worth approximately $32,000. OFI Invest Asset Management purchased a new stake in shares of Ameriprise Financial in the 3rd quarter valued at approximately $25,000. Finally, Turtle Creek Wealth Advisors LLC acquired a new stake in shares of Ameriprise Financial in the 4th quarter valued at $34,000. Hedge funds and other institutional investors own 83.95% of the company’s stock.

Ameriprise Financial Company 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.