Ameriprise Financial (NYSE:AMP) Insider Gumer Alvero Sells 4,658 Shares

Ameriprise Financial, Inc. (NYSE:AMP) insider Gumer Alvero sold 4,658 shares of the business’s stock in a transaction that occurred on Monday, February 9th. The stock was sold at an average price of $542.88, for a total value of $2,528,735.04. Following the transaction, the insider directly owned 4,621 shares in the company, valued at $2,508,648.48. The trade was a 50.20% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Ameriprise Financial Stock Performance

AMP stock traded down $19.63 during midday trading on Wednesday, reaching $486.01. 1,351,555 shares of the company were exchanged, compared to its average volume of 659,426. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.68 and a quick ratio of 0.68. The business has a 50-day moving average price of $502.26 and a two-hundred day moving average price of $491.72. Ameriprise Financial, Inc. has a one year low of $396.14 and a one year high of $552.43. The firm has a market capitalization of $45.16 billion, a price-to-earnings ratio of 13.37, a price-to-earnings-growth ratio of 1.26 and a beta of 1.26.

Ameriprise Financial (NYSE:AMP) last announced its earnings results on Thursday, January 29th. The financial services provider reported $10.83 EPS for the quarter, topping the consensus estimate of $10.33 by $0.50. Ameriprise Financial had a net margin of 19.28% and a return on equity of 63.04%. The business had revenue of $4.90 billion during the quarter, compared to the consensus estimate of $4.75 billion. During the same quarter in the previous year, the firm posted $9.54 EPS. Ameriprise Financial’s revenue was up 10.2% compared to the same quarter last year. Equities research analysts forecast that Ameriprise Financial, Inc. will post 38.64 EPS for the current year.

Ameriprise Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 27th. Shareholders of record on Monday, February 9th will be paid a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date is Monday, February 9th. Ameriprise Financial’s dividend payout ratio (DPR) is 17.60%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of AMP. SouthState Bank Corp lifted its stake in shares of Ameriprise Financial by 78.6% in the fourth quarter. SouthState Bank Corp now owns 50 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 22 shares during the period. Whipplewood Advisors LLC increased its position in shares of Ameriprise Financial by 71.0% during the second quarter. Whipplewood Advisors LLC now owns 53 shares of the financial services provider’s stock worth $28,000 after buying an additional 22 shares during the period. Salomon & Ludwin LLC raised its stake in Ameriprise Financial by 115.4% during the second quarter. Salomon & Ludwin LLC now owns 56 shares of the financial services provider’s stock worth $30,000 after buying an additional 30 shares during the last quarter. Winnow Wealth LLC acquired a new position in Ameriprise Financial in the second quarter valued at $32,000. Finally, Holos Integrated Wealth LLC bought a new stake in Ameriprise Financial during the fourth quarter valued at $30,000. 83.95% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

AMP has been the subject of several recent analyst reports. Piper Sandler raised shares of Ameriprise Financial from an “underweight” rating to a “neutral” rating and upped their price objective for the stock from $434.00 to $530.00 in a research report on Friday, January 30th. Weiss Ratings restated a “buy (b-)” rating on shares of Ameriprise Financial in a research report on Monday, December 29th. Jefferies Financial Group increased their price target on shares of Ameriprise Financial from $600.00 to $620.00 and gave the stock a “buy” rating in a research report on Monday, February 2nd. Morgan Stanley boosted their price objective on shares of Ameriprise Financial from $484.00 to $485.00 and gave the company an “underweight” rating in a research report on Monday, December 22nd. Finally, Argus dropped their price objective on Ameriprise Financial from $568.00 to $554.00 and set a “buy” rating for the company in a research report on Thursday, November 13th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $555.67.

About Ameriprise Financial

Ameriprise Financial, Inc is a diversified financial services company headquartered in Minneapolis, Minnesota. The firm provides a range of advice-based wealth management, asset management and insurance products to individual and institutional clients. Its business model centers on delivering financial planning and investment advice through a network of financial advisors alongside proprietary product offerings designed to meet retirement, protection and accumulation needs.

Core products and services include comprehensive financial planning and advisory services, managed investment portfolios, retirement planning solutions, annuities and life insurance products.