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

Ameriprise Financial, Inc. (NYSE:AMP) CEO William Truscott sold 5,000 shares of Ameriprise Financial stock in a transaction that occurred on Tuesday, February 10th. The shares were sold at an average price of $532.08, for a total transaction of $2,660,400.00. Following the sale, the chief executive officer owned 12,149 shares in the company, valued at approximately $6,464,239.92. The trade was a 29.16% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Ameriprise Financial Price Performance

Shares of NYSE:AMP traded down $18.47 on Thursday, reaching $467.49. The company’s stock had a trading volume of 1,691,728 shares, compared to its average volume of 704,909. The company has a 50-day simple moving average of $502.58 and a 200 day simple moving average of $491.68. Ameriprise Financial, Inc. has a 52-week low of $396.14 and a 52-week high of $552.43. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.68 and a current ratio of 0.68. The company has a market cap of $43.43 billion, a P/E ratio of 12.86, a PEG ratio of 1.18 and a beta of 1.26.

Ameriprise Financial (NYSE:AMP) last posted its quarterly earnings data on Thursday, January 29th. The financial services provider reported $10.83 earnings per share for the quarter, beating analysts’ consensus estimates of $10.33 by $0.50. Ameriprise Financial had a net margin of 19.28% and a return on equity of 63.04%. The business had revenue of $4.90 billion for the quarter, compared to analysts’ expectations of $4.75 billion. During the same quarter in the previous year, the business posted $9.54 earnings per share. The business’s revenue was up 10.2% compared to the same quarter last year. As a group, equities research analysts anticipate that Ameriprise Financial, Inc. will post 38.64 EPS for the current fiscal year.

Ameriprise Financial Announces Dividend

The firm 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 $1.60 dividend. The ex-dividend date is Monday, February 9th. This represents a $6.40 annualized dividend and a dividend yield of 1.4%. Ameriprise Financial’s payout ratio is currently 17.60%.

Institutional Investors Weigh In On Ameriprise Financial

A number of hedge funds have recently added to or reduced their stakes in AMP. AE Wealth Management LLC increased its holdings in Ameriprise Financial by 104.2% in the third quarter. AE Wealth Management LLC now owns 3,962 shares of the financial services provider’s stock valued at $1,946,000 after buying an additional 2,022 shares in the last quarter. National Pension Service boosted its stake in shares of Ameriprise Financial by 4.6% during the 3rd quarter. National Pension Service now owns 152,980 shares of the financial services provider’s stock worth $75,151,000 after acquiring an additional 6,724 shares in the last quarter. Optimize Financial Inc acquired a new stake in shares of Ameriprise Financial in the 3rd quarter worth approximately $453,000. Arjuna Capital boosted its position in Ameriprise Financial by 14.6% during the third quarter. Arjuna Capital now owns 12,613 shares of the financial services provider’s stock worth $6,196,000 after purchasing an additional 1,610 shares in the last quarter. Finally, Mediolanum International Funds Ltd grew its holdings in Ameriprise Financial by 23.0% in the third quarter. Mediolanum International Funds Ltd now owns 47,758 shares of the financial services provider’s stock valued at $23,859,000 after purchasing an additional 8,927 shares during the last quarter. 83.95% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

AMP has been the subject of a number of analyst reports. Keefe, Bruyette & Woods decreased their target price on shares of 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. Royal Bank Of Canada reiterated an “outperform” rating and set a $605.00 price objective (up previously from $580.00) on shares of Ameriprise Financial in a research note on Monday, February 2nd. Argus cut their price objective on shares of Ameriprise Financial from $568.00 to $554.00 and set a “buy” rating for the company in a report on Thursday, November 13th. Raymond James Financial set a $582.00 price objective on shares of Ameriprise Financial and gave the company a “strong-buy” rating in a report on Wednesday. Finally, Piper Sandler raised shares of Ameriprise Financial from an “underweight” rating to a “neutral” rating and upped their target price for the stock from $434.00 to $530.00 in a report on Friday, January 30th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $555.67.

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.