Gerard Smyth Sells 6,255 Shares of Ameriprise Financial (NYSE:AMP) Stock

Ameriprise Financial, Inc. (NYSE:AMP) EVP Gerard Smyth sold 6,255 shares of the stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $472.52, for a total value of $2,955,612.60. Following the transaction, the executive vice president owned 6,103 shares in the company, valued at approximately $2,883,789.56. This trade represents a 50.61% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Ameriprise Financial Trading Down 1.6%

Shares of AMP stock opened at $463.56 on Wednesday. Ameriprise Financial, Inc. has a 12 month low of $422.37 and a 12 month high of $550.18. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 0.90. The business’s 50 day moving average is $454.46 and its two-hundred day moving average is $473.40. The company has a market cap of $41.67 billion, a PE ratio of 11.53, a price-to-earnings-growth 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 EPS for the quarter, beating the consensus estimate of $10.21 by $1.05. Ameriprise Financial had a return on equity of 62.88% and a net margin of 20.57%.The company had revenue of $4.77 billion for the quarter, compared to the consensus estimate of $4.82 billion. During the same quarter last year, the company posted $9.50 earnings per share. The company’s revenue for the quarter was up 9.7% compared to the same quarter last year. Equities analysts predict that Ameriprise Financial, Inc. will post 42.63 EPS for the current year.

Ameriprise Financial Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 22nd. Shareholders of record on Monday, May 4th will be issued a dividend of $1.70 per share. This represents a $6.80 annualized dividend and a 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 is 16.91%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. Jefferies Financial Group increased their price target on Ameriprise Financial from $600.00 to $620.00 and gave the company a “buy” rating in a report on Monday, February 2nd. Raymond James Financial set a $582.00 price objective on Ameriprise Financial and gave the company a “strong-buy” rating in a research report on Wednesday, February 11th. Royal Bank Of Canada reissued an “outperform” rating and issued a $605.00 price objective (up from $580.00) on shares of Ameriprise Financial in a research report on Monday, February 2nd. Morgan Stanley increased their price objective on Ameriprise Financial from $452.00 to $467.00 and gave the company an “underweight” rating in a research report on Thursday, April 30th. Finally, Piper Sandler increased their price objective on Ameriprise Financial from $460.00 to $471.00 and gave the company a “neutral” rating in a research report on Monday, May 4th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Ameriprise Financial currently has a consensus rating of “Hold” and a consensus target price of $543.22.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of AMP. Norges Bank bought a new position in Ameriprise Financial in the fourth quarter worth $742,438,000. AQR Capital Management LLC lifted its holdings in shares of Ameriprise Financial by 84.2% during the fourth quarter. AQR Capital Management LLC now owns 1,085,889 shares of the financial services provider’s stock valued at $532,455,000 after acquiring an additional 496,319 shares during the period. M&T Bank Corp lifted its holdings in shares of Ameriprise Financial by 1,440.2% during the fourth quarter. M&T Bank Corp now owns 466,151 shares of the financial services provider’s stock valued at $228,572,000 after acquiring an additional 435,885 shares during the period. First Trust Advisors LP lifted its holdings in shares of Ameriprise Financial by 85.5% during the fourth quarter. First Trust Advisors LP now owns 828,437 shares of the financial services provider’s stock valued at $406,216,000 after acquiring an additional 381,754 shares during the period. Finally, Qube Research & Technologies Ltd lifted its holdings in shares of Ameriprise Financial by 140.5% during the third quarter. Qube Research & Technologies Ltd now owns 471,867 shares of the financial services provider’s stock valued at $231,805,000 after acquiring an additional 275,659 shares during the period. 83.95% of the stock is owned by 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.