Robert Francis Sharpe, Jr. Sells 1,500 Shares of Ameriprise Financial, Inc. (NYSE:AMP) Stock

Ameriprise Financial, Inc. (NYSE:AMP) Director Robert Francis Sharpe, Jr. sold 1,500 shares of the stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $438.07, for a total transaction of $657,105.00. Following the transaction, the director now directly owns 11,000 shares in the company, valued at approximately $4,818,770. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Ameriprise Financial Trading Up 0.9 %

Ameriprise Financial stock opened at $437.99 on Thursday. The firm’s 50-day moving average is $425.59 and its 200-day moving average is $394.61. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.56 and a current ratio of 0.56. Ameriprise Financial, Inc. has a 1 year low of $291.87 and a 1 year high of $442.09. The company has a market cap of $43.50 billion, a P/E ratio of 14.91, a PEG ratio of 0.73 and a beta of 1.35.

Ameriprise Financial (NYSE:AMP) last posted its quarterly earnings results on Wednesday, April 24th. The financial services provider reported $8.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $8.10 by $0.29. Ameriprise Financial had a net margin of 19.42% and a return on equity of 75.97%. The company had revenue of $4.15 billion for the quarter, compared to the consensus estimate of $4.15 billion. During the same period last year, the firm posted $7.25 EPS. The company’s revenue for the quarter was up 10.8% on a year-over-year basis. On average, equities analysts expect that Ameriprise Financial, Inc. will post 34.93 earnings per share for the current year.

Ameriprise Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 17th. Investors of record on Monday, May 6th were given a $1.48 dividend. The ex-dividend date of this dividend was Friday, May 3rd. This is an increase from Ameriprise Financial’s previous quarterly dividend of $1.35. This represents a $5.92 annualized dividend and a yield of 1.35%. Ameriprise Financial’s dividend payout ratio (DPR) is currently 20.15%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on AMP. Piper Sandler increased their price target on shares of Ameriprise Financial from $360.00 to $392.00 and gave the stock an “underweight” rating in a research note on Friday, April 5th. Morgan Stanley raised their price target on shares of Ameriprise Financial from $400.00 to $437.00 and gave the company an “equal weight” rating in a report on Tuesday, April 9th. Keefe, Bruyette & Woods increased their price objective on shares of Ameriprise Financial from $420.00 to $460.00 and gave the company a “market perform” rating in a research note on Wednesday, April 10th. Argus increased their price objective on shares of Ameriprise Financial from $440.00 to $460.00 and gave the company a “buy” rating in a research note on Monday, May 6th. Finally, Raymond James assumed coverage on shares of Ameriprise Financial in a research note on Thursday, March 21st. They set a “market perform” rating on the stock. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $450.88.

Institutional Trading of Ameriprise Financial

Several hedge funds have recently bought and sold shares of AMP. Norges Bank bought a new stake in Ameriprise Financial in the 4th quarter valued at about $514,539,000. JPMorgan Chase & Co. lifted its position in Ameriprise Financial by 18.6% in the 1st quarter. JPMorgan Chase & Co. now owns 3,844,165 shares of the financial services provider’s stock valued at $1,685,436,000 after purchasing an additional 603,267 shares during the last quarter. First Trust Advisors LP lifted its position in Ameriprise Financial by 1,001.2% in the 4th quarter. First Trust Advisors LP now owns 564,110 shares of the financial services provider’s stock valued at $214,266,000 after purchasing an additional 512,884 shares during the last quarter. TD Asset Management Inc lifted its position in Ameriprise Financial by 151.5% in the 4th quarter. TD Asset Management Inc now owns 595,644 shares of the financial services provider’s stock valued at $226,243,000 after purchasing an additional 358,780 shares during the last quarter. Finally, Swedbank AB bought a new stake in Ameriprise Financial in the 1st quarter valued at about $108,938,000. 83.95% of the stock is currently owned by institutional investors.

Ameriprise Financial Company Profile

Ameriprise Financial, Inc, together with its subsidiaries, provides various financial products and services to individual and institutional clients in the United States and internationally. It operates through four segments: Advice & Wealth Management, Asset Management, Retirement & Protection Solutions, and Corporate & Other.