Insider Selling: Ameriprise Financial (NYSE:AMP) SVP Sells $263,814.96 in Stock

Ameriprise Financial, Inc. (NYSE:AMP) SVP Dawn Brockman sold 472 shares of the company’s 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 sale, the senior vice president directly owned 713 shares of the company’s stock, valued at $398,517.09. The trade was a 39.83% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Ameriprise Financial Price Performance

Shares of AMP opened at $570.06 on Friday. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.71 and a current ratio of 0.71. Ameriprise Financial, Inc. has a fifty-two week low of $422.37 and a fifty-two week high of $572.56. The firm has a 50-day simple moving average of $507.03 and a 200-day simple moving average of $480.30. The company has a market capitalization of $51.25 billion, a price-to-earnings ratio of 13.75, a price-to-earnings-growth ratio of 0.77 and a beta of 1.14.

Ameriprise Financial (NYSE:AMP) last issued its quarterly earnings results on Thursday, July 23rd. The financial services provider reported $11.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $10.81 by $0.26. The firm had revenue of $4.90 billion for the quarter, compared to analysts’ expectations of $4.87 billion. Ameriprise Financial had a return on equity of 64.19% and a net margin of 20.24%.The firm’s revenue for the quarter was up 11.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $9.11 EPS. On average, equities research analysts anticipate that Ameriprise Financial, Inc. will post 46.12 earnings per share for the current year.

Ameriprise Financial Dividend Announcement

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

Hedge Funds Weigh In On Ameriprise Financial

Several hedge funds and other institutional investors have recently bought and sold shares of the company. SouthState Bank Corp grew its holdings in Ameriprise Financial by 78.6% in the fourth quarter. SouthState Bank Corp now owns 50 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 22 shares during the last quarter. University of Texas Texas AM Investment Management Co. purchased a new position in shares of Ameriprise Financial in the second quarter valued at $28,000. Cassaday & Co Wealth Management LLC acquired a new position in shares of Ameriprise Financial during the 1st quarter worth $28,000. Ares Financial Consulting LLC acquired a new position in shares of Ameriprise Financial during the 4th quarter worth $32,000. Finally, Fiduciary Financial Advisors purchased a new stake in shares of Ameriprise Financial in the 2nd quarter worth about $30,000. 83.95% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. Piper Sandler boosted their target price on Ameriprise Financial from $471.00 to $518.00 and gave the company a “neutral” rating in a report on Monday, July 13th. BMO Capital Markets increased their price target on Ameriprise Financial from $470.00 to $490.00 and gave the stock a “market perform” rating in a report on Friday, April 24th. Weiss Ratings upgraded shares of Ameriprise Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, July 17th. Morgan Stanley boosted 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. Finally, Keefe, Bruyette & Woods upped their price objective on shares of Ameriprise Financial from $515.00 to $545.00 and gave the stock a “market perform” rating in a research report on Friday, July 24th. Two equities research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Ameriprise Financial has an average rating of “Moderate Buy” and a consensus price target of $555.33.

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.