Ameriprise Financial (NYSE:AMP) Trading Down 5.6% Following Insider Selling

Ameriprise Financial, Inc. (NYSE:AMP)’s stock price traded down 5.6% during trading on Tuesday following insider selling activity. The company traded as low as $514.17 and last traded at $508.8650. 235,360 shares traded hands during trading, a decline of 61% from the average session volume of 601,609 shares. The stock had previously closed at $539.11.

Specifically, CFO Walter Stanley Berman sold 7,000 shares of the business’s stock in a transaction dated Thursday, February 5th. The stock was sold at an average price of $544.22, for a total value of $3,809,540.00. Following the completion of the sale, the chief financial officer owned 5,609 shares of the company’s stock, valued at approximately $3,052,529.98. The trade was a 55.52% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

Wall Street Analysts Forecast Growth

AMP has been the topic of several analyst reports. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $605.00 target price (up from $580.00) on shares of Ameriprise Financial in a research note on Monday, February 2nd. Piper Sandler upgraded Ameriprise Financial from an “underweight” rating to a “neutral” rating and upped their target price for the stock from $434.00 to $530.00 in a report on Friday, January 30th. Weiss Ratings restated a “buy (b-)” rating on shares of Ameriprise Financial in a research note on Monday, December 29th. Argus dropped their price target on Ameriprise Financial from $568.00 to $554.00 and set a “buy” rating on the stock in a research report on Thursday, November 13th. Finally, Keefe, Bruyette & Woods reduced their price target on Ameriprise Financial from $550.00 to $530.00 and set a “market perform” rating on the stock in a research note on Monday, November 3rd. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $555.67.

Ameriprise Financial Stock Performance

The stock has a market capitalization of $46.89 billion, a PE ratio of 13.88, a PEG ratio of 1.26 and a beta of 1.26. The business has a 50 day moving average price of $502.26 and a 200 day moving average price of $491.72. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.68 and a quick ratio of 0.68.

Ameriprise Financial (NYSE:AMP) last released its quarterly earnings data on Thursday, January 29th. The financial services provider reported $10.83 earnings per share for the quarter, beating analysts’ consensus estimates of $10.33 by $0.50. Ameriprise Financial had a net margin of 19.28% and a return on equity of 63.04%. The business had revenue of $4.90 billion during the quarter, compared to analyst estimates of $4.75 billion. During the same period last year, the business earned $9.54 EPS. Ameriprise Financial’s revenue was up 10.2% compared to the same quarter last year. As a group, equities research analysts expect that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current year.

Ameriprise Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 27th. Stockholders of record on Monday, February 9th will be issued a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date of this dividend is Monday, February 9th. Ameriprise Financial’s dividend payout ratio is presently 17.60%.

Institutional Investors Weigh In On Ameriprise Financial

Institutional investors have recently modified their holdings of the business. TD Asset Management Inc increased its holdings in Ameriprise Financial by 3.3% in the 4th quarter. TD Asset Management Inc now owns 432,746 shares of the financial services provider’s stock worth $212,193,000 after buying an additional 13,843 shares in the last quarter. Sivia Capital Partners LLC bought a new stake in shares of Ameriprise Financial in the fourth quarter worth approximately $1,252,000. Greenspring Advisors LLC purchased a new position in shares of Ameriprise Financial during the fourth quarter valued at approximately $305,000. Lido Advisors LLC lifted its position in Ameriprise Financial by 1.0% during the fourth quarter. Lido Advisors LLC now owns 10,669 shares of the financial services provider’s stock valued at $5,239,000 after purchasing an additional 109 shares during the period. Finally, REAP Financial Group LLC lifted its position in Ameriprise Financial by 14.3% during the fourth quarter. REAP Financial Group LLC now owns 224 shares of the financial services provider’s stock valued at $110,000 after purchasing an additional 28 shares during the period. 83.95% of the stock is owned by hedge funds and other institutional investors.

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.