Robert Francis Sharpe, Jr. Sells 1,200 Shares of Ameriprise Financial (NYSE:AMP) Stock

Ameriprise Financial, Inc. (NYSE:AMP) Director Robert Francis Sharpe, Jr. sold 1,200 shares of Ameriprise Financial stock in a transaction on Friday, May 8th. The shares were sold at an average price of $465.83, for a total transaction of $558,996.00. Following the completion of the transaction, the director directly owned 6,300 shares of the company’s stock, valued at $2,934,729. The trade was a 16.00% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Ameriprise Financial Trading Down 0.3%

AMP stock opened at $468.90 on Thursday. The company’s 50-day simple moving average is $454.33 and its 200-day simple moving average is $473.74. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 0.90. Ameriprise Financial, Inc. has a 52-week low of $422.37 and a 52-week high of $550.18. The firm has a market cap of $42.15 billion, a P/E ratio of 11.66, a PEG ratio of 1.11 and a beta of 1.20.

Ameriprise Financial (NYSE:AMP) last announced its quarterly earnings results on Thursday, April 23rd. The financial services provider reported $11.26 earnings per share for the quarter, beating the consensus estimate of $10.21 by $1.05. The firm had revenue of $4.77 billion during the quarter, compared to analyst estimates of $4.82 billion. Ameriprise Financial had a return on equity of 62.88% and a net margin of 20.57%.Ameriprise Financial’s revenue for the quarter was up 9.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $9.50 EPS. As a group, equities analysts forecast that Ameriprise Financial, Inc. will post 42.44 EPS for the current fiscal year.

Ameriprise Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 22nd. Stockholders of record on Monday, May 4th will be given a $1.70 dividend. This represents a $6.80 dividend on an annualized basis and a dividend yield of 1.5%. This is a boost from Ameriprise Financial’s previous quarterly dividend of $1.60. The ex-dividend date is Monday, May 4th. Ameriprise Financial’s dividend payout ratio (DPR) is presently 16.91%.

Institutional Trading of Ameriprise Financial

Large investors have recently made changes to their positions in the company. Gibbs Wealth Management acquired a new stake in Ameriprise Financial during the 1st quarter worth $459,000. Sei Investments Co. raised its position in shares of Ameriprise Financial by 28.5% in the first quarter. Sei Investments Co. now owns 359,194 shares of the financial services provider’s stock valued at $159,623,000 after buying an additional 79,631 shares during the last quarter. Lido Advisors LLC lifted its stake in shares of Ameriprise Financial by 14.8% in the first quarter. Lido Advisors LLC now owns 12,250 shares of the financial services provider’s stock worth $5,444,000 after buying an additional 1,581 shares in the last quarter. First Trust Advisors LP lifted its stake in shares of Ameriprise Financial by 18.7% in the first quarter. First Trust Advisors LP now owns 983,096 shares of the financial services provider’s stock worth $436,888,000 after buying an additional 154,659 shares in the last quarter. Finally, Chase Investment Counsel Corp boosted its position in Ameriprise Financial by 20.0% during the first quarter. Chase Investment Counsel Corp now owns 3,600 shares of the financial services provider’s stock worth $1,599,000 after acquiring an additional 600 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 brokerages have recently issued reports on AMP. BMO Capital Markets increased their target price on Ameriprise Financial from $470.00 to $490.00 and gave the company a “market perform” rating in a research report on Friday, April 24th. Raymond James Financial set a $582.00 price target on shares of Ameriprise Financial and gave the stock a “strong-buy” rating in a report on Wednesday, February 11th. Jefferies Financial Group increased their price objective on shares of Ameriprise Financial from $600.00 to $620.00 and gave the company a “buy” rating in a report on Monday, February 2nd. Morgan Stanley lifted their target price on shares of Ameriprise Financial from $452.00 to $467.00 and gave the company an “underweight” rating in a research report on Thursday, April 30th. Finally, Keefe, Bruyette & Woods initiated coverage on shares of Ameriprise Financial in a research note on Friday, April 10th. They set a “hold” rating for the company. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $543.22.

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.