Ameriprise Financial, Inc. (NYSE:AMP) Sees Significant Drop in Short Interest

Ameriprise Financial, Inc. (NYSE:AMP) saw a significant drop in short interest during the month of March. As of March 31st, there was short interest totalling 901,300 shares, a drop of 7.2% from the March 15th total of 970,900 shares. Approximately 0.9% of the shares of the company are short sold. Based on an average daily volume of 477,400 shares, the short-interest ratio is presently 1.9 days.

Insider Buying and Selling at Ameriprise Financial

In other news, CEO William F. Truscott sold 9,689 shares of the stock in a transaction that occurred on Friday, January 26th. The stock was sold at an average price of $390.22, for a total value of $3,780,841.58. Following the completion of the sale, the chief executive officer now directly owns 12,126 shares of the company’s stock, valued at $4,731,807.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO William F. Truscott sold 9,689 shares of the firm’s stock in a transaction on Friday, January 26th. The stock was sold at an average price of $390.22, for a total value of $3,780,841.58. Following the completion of the transaction, the chief executive officer now directly owns 12,126 shares of the company’s stock, valued at $4,731,807.72. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Robert Francis Sharpe, Jr. sold 4,000 shares of the stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $386.60, for a total value of $1,546,400.00. Following the transaction, the director now owns 12,500 shares of the company’s stock, valued at $4,832,500. The disclosure for this sale can be found here. Insiders have sold a total of 89,161 shares of company stock worth $35,560,647 over the last 90 days. Insiders own 0.96% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Sound Income Strategies LLC bought a new stake in shares of Ameriprise Financial in the first quarter valued at $32,000. OFI Invest Asset Management purchased a new position in shares of Ameriprise Financial in the 3rd quarter worth about $25,000. Financial Freedom LLC purchased a new position in shares of Ameriprise Financial in the 4th quarter worth about $27,000. Turtle Creek Wealth Advisors LLC purchased a new position in shares of Ameriprise Financial in the 4th quarter worth about $34,000. Finally, Carmel Capital Partners LLC purchased a new stake in Ameriprise Financial during the 3rd quarter valued at about $30,000. Hedge funds and other institutional investors own 83.95% of the company’s stock.

Ameriprise Financial Price Performance

Shares of AMP opened at $411.18 on Tuesday. The company has a market capitalization of $41.20 billion, a price-to-earnings ratio of 17.34, a price-to-earnings-growth ratio of 0.68 and a beta of 1.36. The business has a 50-day moving average of $415.27 and a 200-day moving average of $375.94. The company has a debt-to-equity ratio of 1.17, a current ratio of 0.56 and a quick ratio of 0.56. Ameriprise Financial has a 1 year low of $279.85 and a 1 year high of $440.67.

Ameriprise Financial (NYSE:AMP) last announced its quarterly earnings data on Thursday, January 25th. The financial services provider reported $7.75 EPS for the quarter, beating analysts’ consensus estimates of $7.67 by $0.08. Ameriprise Financial had a return on equity of 77.39% and a net margin of 16.27%. The firm had revenue of $3.99 billion during the quarter, compared to analysts’ expectations of $3.90 billion. During the same quarter last year, the firm posted $6.94 earnings per share. The company’s revenue for the quarter was up 9.0% compared to the same quarter last year. As a group, equities research analysts anticipate that Ameriprise Financial will post 34.43 earnings per share for the current year.

Ameriprise Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, February 27th. Investors of record on Friday, February 9th were given a dividend of $1.35 per share. The ex-dividend date was Thursday, February 8th. This represents a $5.40 annualized dividend and a dividend yield of 1.31%. Ameriprise Financial’s payout ratio is 22.78%.

Wall Street Analysts Forecast Growth

AMP has been the subject of a number of research reports. Raymond James assumed coverage on Ameriprise Financial in a research note on Thursday, March 21st. They issued a “market perform” rating for the company. Morgan Stanley raised their target price on Ameriprise Financial from $400.00 to $437.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 9th. Piper Sandler raised their target price on Ameriprise Financial from $360.00 to $392.00 and gave the stock an “underweight” rating in a report on Friday, April 5th. The Goldman Sachs Group raised their target price on Ameriprise Financial from $437.00 to $488.00 and gave the stock a “buy” rating in a report on Wednesday, March 27th. Finally, Keefe, Bruyette & Woods lifted their price objective on Ameriprise Financial from $420.00 to $460.00 and gave the company a “market perform” rating in a report on Wednesday, April 10th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $441.00.

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.