Ameriprise Financial (NYSE:AMP) CFO Walter Stanley Berman Sells 7,000 Shares of Stock

Ameriprise Financial, Inc. (NYSE:AMP) CFO Walter Stanley Berman sold 7,000 shares of Ameriprise Financial stock in a transaction dated Thursday, February 5th. The shares were sold at an average price of $544.22, for a total transaction of $3,809,540.00. Following the sale, the chief financial officer owned 5,609 shares in the company, valued at approximately $3,052,529.98. This represents a 55.52% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Ameriprise Financial Stock Performance

Shares of AMP opened at $539.30 on Tuesday. The firm has a 50-day moving average price of $501.31 and a 200 day moving average price of $491.83. The firm has a market capitalization of $50.11 billion, a PE ratio of 14.83, a P/E/G ratio of 1.27 and a beta of 1.26. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 0.86. Ameriprise Financial, Inc. has a 52-week low of $396.14 and a 52-week high of $552.43.

Ameriprise Financial (NYSE:AMP) last released its quarterly earnings results on Thursday, January 29th. The financial services provider reported $10.83 EPS for the quarter, topping analysts’ consensus estimates of $10.33 by $0.50. The company had revenue of $4.90 billion for the quarter, compared to the consensus estimate of $4.75 billion. Ameriprise Financial had a net margin of 19.28% and a return on equity of 63.04%. Ameriprise Financial’s revenue was up 10.2% on a year-over-year basis. During the same period in the previous year, the firm earned $9.54 EPS. On average, sell-side analysts anticipate that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current fiscal year.

Ameriprise Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 27th. Shareholders of record on Monday, February 9th will be paid a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend is Monday, February 9th. Ameriprise Financial’s dividend payout ratio (DPR) is presently 17.60%.

Analysts Set New Price Targets

Several analysts have recently weighed in on AMP shares. Keefe, Bruyette & Woods cut their price objective 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. Jefferies Financial Group upped their price target on shares of Ameriprise Financial from $600.00 to $620.00 and gave the company a “buy” rating in a report on Monday, February 2nd. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $605.00 price objective (up previously from $580.00) on shares of Ameriprise Financial in a research note on Monday, February 2nd. Weiss Ratings reissued a “buy (b-)” rating on shares of Ameriprise Financial in a research note on Monday, December 29th. Finally, Argus reduced their target price 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. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $555.67.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Whipplewood Advisors LLC lifted its position in shares of Ameriprise Financial by 71.0% in the 2nd quarter. Whipplewood Advisors LLC now owns 53 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 22 shares in the last quarter. Salomon & Ludwin LLC raised its stake in Ameriprise Financial by 115.4% during the 2nd quarter. Salomon & Ludwin LLC now owns 56 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 30 shares during the period. Holos Integrated Wealth LLC purchased a new stake in shares of Ameriprise Financial in the fourth quarter valued at $30,000. Winnow Wealth LLC acquired a new stake in shares of Ameriprise Financial in the second quarter worth $32,000. Finally, Heartwood Wealth Advisors LLC purchased a new position in shares of Ameriprise Financial during the third quarter valued at $32,000. 83.95% of the stock is currently owned by institutional investors and hedge funds.

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.