William Truscott Sells 5,000 Shares of Ameriprise Financial (NYSE:AMP) Stock

Ameriprise Financial, Inc. (NYSE:AMP) CEO William Truscott sold 5,000 shares of the company’s stock in a transaction on Tuesday, February 10th. The shares were sold at an average price of $532.08, for a total value of $2,660,400.00. Following the completion of the sale, the chief executive officer owned 12,149 shares of the company’s stock, valued at approximately $6,464,239.92. The trade was a 29.16% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Ameriprise Financial Stock Up 1.3%

NYSE AMP opened at $473.38 on Friday. The business’s fifty day simple moving average is $502.37 and its 200-day simple moving average is $491.20. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 0.86. The firm has a market cap of $43.98 billion, a PE ratio of 13.02, a P/E/G ratio of 1.09 and a beta of 1.26. Ameriprise Financial, Inc. has a 52 week low of $396.14 and a 52 week high of $552.43.

Ameriprise Financial (NYSE:AMP) last released its quarterly earnings data on Thursday, January 29th. The financial services provider reported $10.83 earnings per share (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 firm had revenue of $4.90 billion during the quarter, compared to analysts’ expectations of $4.75 billion. During the same period last year, the business earned $9.54 earnings per share. Ameriprise Financial’s revenue was up 10.2% compared to the same quarter last year. As a group, equities analysts anticipate that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current year.

Ameriprise Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, February 27th. Stockholders of record on Monday, February 9th will be issued a dividend of $1.60 per share. The ex-dividend date is Monday, February 9th. This represents a $6.40 dividend on an annualized basis and a dividend yield of 1.4%. Ameriprise Financial’s dividend payout ratio (DPR) is currently 17.60%.

Analyst Upgrades and Downgrades

AMP has been the subject of several analyst reports. Piper Sandler upgraded Ameriprise Financial from an “underweight” rating to a “neutral” rating and increased their price objective for the stock from $434.00 to $530.00 in a research report on Friday, January 30th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Ameriprise Financial in a report on Monday, December 29th. Keefe, Bruyette & Woods cut their price objective on Ameriprise Financial from $550.00 to $530.00 and set a “market perform” rating for the company in a research report on Monday, November 3rd. Morgan Stanley upped their target price 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, Royal Bank Of Canada reaffirmed an “outperform” rating and set a $605.00 target price (up previously from $580.00) on shares of Ameriprise Financial in a research note on Monday, February 2nd. One equities research 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 issued a Sell rating to the company’s stock. Based on data from MarketBeat, Ameriprise Financial presently has a consensus rating of “Hold” and an average target price of $555.67.

Hedge Funds Weigh In On Ameriprise Financial

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Brighton Jones LLC lifted its position in shares of Ameriprise Financial by 6.9% during the fourth quarter. Brighton Jones LLC now owns 777 shares of the financial services provider’s stock worth $413,000 after purchasing an additional 50 shares in the last quarter. Empowered Funds LLC lifted its holdings in Ameriprise Financial by 11.8% during the 1st quarter. Empowered Funds LLC now owns 6,022 shares of the financial services provider’s stock worth $2,915,000 after buying an additional 634 shares in the last quarter. Sivia Capital Partners LLC boosted its position in Ameriprise Financial by 14.1% in the 2nd quarter. Sivia Capital Partners LLC now owns 584 shares of the financial services provider’s stock valued at $312,000 after buying an additional 72 shares during the period. Concurrent Investment Advisors LLC increased its position in shares of Ameriprise Financial by 93.9% during the second quarter. Concurrent Investment Advisors LLC now owns 1,295 shares of the financial services provider’s stock worth $691,000 after acquiring an additional 627 shares during the period. Finally, Atria Wealth Solutions Inc. raised its stake in shares of Ameriprise Financial by 10.4% in the second quarter. Atria Wealth Solutions Inc. now owns 3,523 shares of the financial services provider’s stock valued at $1,880,000 after acquiring an additional 332 shares in the last quarter. 83.95% of the stock is currently owned by hedge funds and other institutional investors.

Ameriprise Financial Company Profile

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.