Ameriprise Financial (NYSE:AMP) SVP Sells 472 Shares of Stock

Ameriprise Financial, Inc. (NYSE:AMP) SVP Dawn Brockman sold 472 shares of the stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $558.93, for a total transaction of $263,814.96. Following the completion of the transaction, the senior vice president owned 713 shares of the company’s stock, valued at $398,517.09. This represents a 39.83% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Ameriprise Financial Price Performance

Shares of NYSE AMP traded up $2.12 during mid-day trading on Wednesday, reaching $565.10. 373,620 shares of the company traded hands, compared to its average volume of 670,369. Ameriprise Financial, Inc. has a fifty-two week low of $422.37 and a fifty-two week high of $565.44. The firm has a market cap of $50.80 billion, a PE ratio of 13.63, a price-to-earnings-growth ratio of 0.75 and a beta of 1.14. The stock has a fifty day simple moving average of $499.98 and a 200-day simple moving average of $478.73. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.71 and a quick ratio of 0.71.

Ameriprise Financial (NYSE:AMP) last posted its quarterly earnings data on Thursday, July 23rd. The financial services provider reported $11.07 EPS for the quarter, topping analysts’ consensus estimates of $10.81 by $0.26. The company had revenue of $4.90 billion for the quarter, compared to the consensus estimate of $4.87 billion. Ameriprise Financial had a return on equity of 64.19% and a net margin of 20.24%.The company’s quarterly revenue was up 11.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $9.11 EPS. Equities research analysts anticipate that Ameriprise Financial, Inc. will post 46.12 EPS for the current fiscal year.

Ameriprise Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 21st. Shareholders of record on Monday, August 3rd will be issued a $1.70 dividend. The ex-dividend date of this dividend is Monday, August 3rd. This represents a $6.80 annualized dividend and a dividend yield of 1.2%. Ameriprise Financial’s dividend payout ratio is currently 16.40%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in AMP. SouthState Bank Corp boosted its stake in Ameriprise Financial by 78.6% in the 4th quarter. SouthState Bank Corp now owns 50 shares of the financial services provider’s stock valued at $25,000 after buying an additional 22 shares in the last quarter. Cassaday & Co Wealth Management LLC acquired a new position in Ameriprise Financial during the 1st quarter worth $28,000. University of Texas Texas AM Investment Management Co. bought a new position in shares of Ameriprise Financial in the 2nd quarter valued at about $28,000. Ares Financial Consulting LLC acquired a new stake in shares of Ameriprise Financial during the fourth quarter worth $32,000. Finally, Prosperity Bancshares Inc acquired a new position in Ameriprise Financial during the fourth quarter valued at approximately $33,000. Institutional investors and hedge funds own 83.95% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on AMP. Piper Sandler upped their price target on shares of Ameriprise Financial from $471.00 to $518.00 and gave the company a “neutral” rating in a research report on Monday, July 13th. Weiss Ratings raised Ameriprise Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, July 17th. Morgan Stanley lifted their price objective on shares of Ameriprise Financial from $467.00 to $489.00 and gave the company an “underweight” rating in a research note on Friday, July 10th. Zacks Research raised Ameriprise Financial from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 27th. Finally, Keefe, Bruyette & Woods upped their price target on shares of Ameriprise Financial from $515.00 to $545.00 and gave the company a “market perform” rating in a report on Friday, July 24th. Two analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Ameriprise Financial presently has a consensus rating of “Moderate Buy” and a consensus price target of $555.33.

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.