Ameriprise Financial (NYSE:AMP) Insider William Jerryl Williams Sells 8,210 Shares

Ameriprise Financial, Inc. (NYSE:AMP) insider William Jerryl Williams sold 8,210 shares of the company’s stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $539.35, for a total value of $4,428,063.50. Following the sale, the insider owned 6,780 shares of the company’s stock, valued at $3,656,793. This trade represents a 54.77% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

William Jerryl Williams also recently made the following trade(s):

• On Monday, July 27th, William Jerryl Williams sold 7,894 shares of Ameriprise Financial stock. The shares were sold at an average price of $537.08, for a total value of $4,239,709.52.

Ameriprise Financial Stock Down 1.0%

AMP traded down $5.53 on Wednesday, hitting $541.09. The company had a trading volume of 444,717 shares, compared to its average volume of 687,189. The stock has a market capitalization of $48.64 billion, a price-to-earnings ratio of 13.05, a P/E/G ratio of 0.92 and a beta of 1.16. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.66 and a current ratio of 0.71. The stock has a fifty day moving average price of $479.17 and a 200-day moving average price of $475.33. Ameriprise Financial, Inc. has a 12-month low of $422.37 and a 12-month high of $553.46.

Ameriprise Financial (NYSE:AMP) last released its quarterly earnings results on Thursday, July 23rd. The financial services provider reported $11.07 EPS for the quarter, beating the consensus estimate of $10.81 by $0.26. Ameriprise Financial had a net margin of 20.24% and a return on equity of 64.19%. The business had revenue of $4.90 billion during the quarter, compared to analyst estimates of $4.87 billion. During the same period in the prior year, the firm posted $9.11 earnings per share. The company’s quarterly revenue was up 11.6% on a year-over-year basis. Analysts predict that Ameriprise Financial, Inc. will post 45.84 EPS for the current fiscal year.

Ameriprise Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 21st. Investors of record on Monday, August 3rd will be paid a dividend of $1.70 per share. This represents a $6.80 annualized dividend and a dividend yield of 1.3%. The ex-dividend date is Monday, August 3rd. Ameriprise Financial’s payout ratio is 16.40%.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on AMP. BMO Capital Markets raised their target price on shares of Ameriprise Financial from $470.00 to $490.00 and gave the company a “market perform” rating in a research note on Friday, April 24th. Keefe, Bruyette & Woods upped their price target on Ameriprise Financial from $515.00 to $545.00 and gave the stock a “market perform” rating in a research report on Friday, July 24th. Weiss Ratings upgraded Ameriprise Financial from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, July 17th. Piper Sandler raised their price objective on Ameriprise Financial from $471.00 to $518.00 and gave the stock a “neutral” rating in a research report on Monday, July 13th. Finally, Zacks Research upgraded Ameriprise Financial from a “hold” rating to a “strong-buy” rating in a research note on Monday. Two investment analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $555.33.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. SouthState Bank Corp lifted its stake in shares of Ameriprise Financial by 78.6% during the fourth quarter. SouthState Bank Corp now owns 50 shares of the financial services provider’s stock worth $25,000 after buying an additional 22 shares during the period. Cassaday & Co Wealth Management LLC purchased a new stake in shares of Ameriprise Financial during the first quarter valued at $28,000. Ares Financial Consulting LLC acquired a new position in shares of Ameriprise Financial in the 4th quarter valued at $32,000. Prosperity Bancshares Inc acquired a new position in shares of Ameriprise Financial in the 4th quarter valued at $33,000. Finally, Evolution Wealth Management Inc. acquired a new position in shares of Ameriprise Financial in the 1st quarter valued at $34,000. Institutional investors and hedge funds own 83.95% of the company’s stock.

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.