Ameriprise Financial (NYSE:AMP) CEO Sells $2,660,400.00 in Stock

Ameriprise Financial, Inc. (NYSE:AMP) CEO William Truscott sold 5,000 shares of the company’s stock in a transaction dated Tuesday, February 10th. The stock was sold at an average price of $532.08, for a total value of $2,660,400.00. Following the completion of the transaction, the chief executive officer owned 12,149 shares in the company, valued at $6,464,239.92. This represents a 29.16% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Ameriprise Financial Stock Up 1.3%

Shares of NYSE AMP opened at $473.38 on Friday. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 0.86. The business has a 50-day moving average of $502.37 and a 200-day moving average of $490.99. The firm has a market capitalization of $43.98 billion, a price-to-earnings ratio of 13.02, a PEG ratio of 1.11 and a beta of 1.26. Ameriprise Financial, Inc. has a 12 month low of $396.14 and a 12 month high of $552.43.

Ameriprise Financial (NYSE:AMP) last announced its earnings results on Thursday, January 29th. The financial services provider reported $10.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $10.33 by $0.50. The business had revenue of $4.90 billion during the quarter, compared to analyst estimates 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 for the quarter was up 10.2% on a year-over-year basis. During the same period in the previous year, the business posted $9.54 earnings per share. Sell-side analysts expect that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current fiscal year.

Ameriprise Financial Announces Dividend

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

Hedge Funds Weigh In On Ameriprise Financial

Several hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. grew its position in shares of Ameriprise Financial by 0.9% in the 2nd quarter. Vanguard Group Inc. now owns 12,432,261 shares of the financial services provider’s stock worth $6,635,471,000 after buying an additional 111,386 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in Ameriprise Financial by 7.7% in the 2nd quarter. JPMorgan Chase & Co. now owns 6,270,995 shares of the financial services provider’s stock worth $3,347,019,000 after purchasing an additional 446,080 shares in the last quarter. State Street Corp boosted its stake in shares of Ameriprise Financial by 0.4% during the 3rd quarter. State Street Corp now owns 4,420,072 shares of the financial services provider’s stock valued at $2,171,360,000 after purchasing an additional 18,879 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Ameriprise Financial by 1.7% during the second quarter. Geode Capital Management LLC now owns 2,818,428 shares of the financial services provider’s stock valued at $1,500,115,000 after buying an additional 47,584 shares during the period. Finally, Norges Bank bought a new position in Ameriprise Financial in the fourth quarter worth about $742,438,000. 83.95% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

AMP has been the subject of several research reports. Keefe, Bruyette & Woods cut their target price on Ameriprise Financial from $550.00 to $530.00 and set a “market perform” rating for the company in a research note on Monday, November 3rd. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Ameriprise Financial in a research note on Monday, December 29th. Piper Sandler raised shares of Ameriprise Financial from an “underweight” rating to a “neutral” rating and increased their target price for the company from $434.00 to $530.00 in a report on Friday, January 30th. Morgan Stanley boosted their price target on shares of Ameriprise Financial from $484.00 to $485.00 and gave the stock an “underweight” rating in a research note on Monday, December 22nd. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and set a $605.00 price objective (up from $580.00) on shares of Ameriprise Financial in a research note on Monday, February 2nd. One equities research 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 issued a Sell rating to the stock. Based on data from MarketBeat.com, Ameriprise Financial presently has an average rating of “Hold” and an average target price of $555.67.

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.