Ameriprise Financial (NYSE:AMP) Insider Sells $2,528,735.04 in Stock

Ameriprise Financial, Inc. (NYSE:AMP) insider Gumer Alvero sold 4,658 shares of Ameriprise Financial stock in a transaction that occurred on Monday, February 9th. The stock was sold at an average price of $542.88, for a total value of $2,528,735.04. Following the sale, the insider directly owned 4,621 shares in the company, valued at $2,508,648.48. The trade was a 50.20% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Ameriprise Financial Stock Performance

Shares of NYSE AMP opened at $473.38 on Friday. The firm has a market capitalization of $43.98 billion, a price-to-earnings ratio of 13.02, a PEG ratio of 1.09 and a beta of 1.26. Ameriprise Financial, Inc. has a one year low of $396.14 and a one year high of $552.43. The business has a fifty day simple moving average of $502.37 and a 200 day simple moving average of $491.20. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 0.86.

Ameriprise Financial (NYSE:AMP) last posted its quarterly earnings results on Thursday, January 29th. The financial services provider reported $10.83 earnings per share for the quarter, topping 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 firm had revenue of $4.90 billion for the quarter, compared to the consensus estimate of $4.75 billion. During the same quarter in the previous year, the company earned $9.54 earnings per share. The business’s revenue was up 10.2% compared to the same quarter last year. Sell-side analysts expect that Ameriprise Financial, Inc. will post 38.64 EPS for the current year.

Ameriprise Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, February 27th. Stockholders of record on Monday, February 9th will be paid a $1.60 dividend. This represents a $6.40 annualized dividend and a dividend yield of 1.4%. The ex-dividend date is Monday, February 9th. Ameriprise Financial’s payout ratio is currently 17.60%.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. SouthState Bank Corp increased its stake in shares of 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 during the period. Whipplewood Advisors LLC increased its position in Ameriprise Financial by 71.0% in the second quarter. Whipplewood Advisors LLC now owns 53 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 22 shares during the period. Salomon & Ludwin LLC raised its holdings in Ameriprise Financial by 115.4% during the 2nd quarter. Salomon & Ludwin LLC now owns 56 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 30 shares during the last quarter. Holos Integrated Wealth LLC acquired a new position in Ameriprise Financial during the 4th quarter valued at about $30,000. Finally, Winnow Wealth LLC bought a new position in shares of Ameriprise Financial in the 2nd quarter valued at about $32,000. Institutional investors and hedge funds own 83.95% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Morgan Stanley boosted their price target on shares of Ameriprise Financial from $484.00 to $485.00 and gave the company an “underweight” rating in a research report on Monday, December 22nd. Weiss Ratings reissued a “buy (b-)” rating on shares of Ameriprise Financial in a report on Monday, December 29th. Keefe, Bruyette & Woods dropped their price target on Ameriprise Financial from $550.00 to $530.00 and set a “market perform” rating for the company in a report on Monday, November 3rd. Piper Sandler raised Ameriprise Financial from an “underweight” rating to a “neutral” rating and boosted their price objective for the stock from $434.00 to $530.00 in a research note on Friday, January 30th. Finally, Argus decreased their target price on Ameriprise Financial from $568.00 to $554.00 and set a “buy” rating on the stock in a report on Thursday, November 13th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average 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.