William Davies Sells 8,700 Shares of Ameriprise Financial, Inc. (NYSE:AMP) Stock

Ameriprise Financial, Inc. (NYSE:AMP) VP William Davies sold 8,700 shares of the firm’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $442.07, for a total value of $3,846,009.00. Following the completion of the sale, the vice president now directly owns 13,199 shares of the company’s stock, valued at $5,834,881.93. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Ameriprise Financial Price Performance

AMP stock opened at $442.91 on Thursday. The business’s fifty day moving average price is $427.77 and its 200 day moving average price is $425.41. Ameriprise Financial, Inc. has a 12-month low of $306.63 and a 12-month high of $450.35. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 1.16. The company has a market capitalization of $43.99 billion, a PE ratio of 15.08, a P/E/G ratio of 0.78 and a beta of 1.37.

Ameriprise Financial (NYSE:AMP) last issued its quarterly earnings results on Wednesday, July 24th. The financial services provider reported $8.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $8.53 by $0.19. The company had revenue of $4.39 billion for the quarter, compared to analyst estimates of $4.24 billion. Ameriprise Financial had a net margin of 18.64% and a return on equity of 73.83%. The business’s revenue for the quarter was up 9.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $7.44 earnings per share. On average, sell-side analysts anticipate that Ameriprise Financial, Inc. will post 34.81 EPS for the current year.

Ameriprise Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 16th. Shareholders of record on Monday, August 5th were issued a dividend of $1.48 per share. The ex-dividend date was Monday, August 5th. This represents a $5.92 dividend on an annualized basis and a yield of 1.34%. Ameriprise Financial’s dividend payout ratio (DPR) is presently 20.15%.

Hedge Funds Weigh In On Ameriprise Financial

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Benjamin F. Edwards & Company Inc. grew its stake in Ameriprise Financial by 117.4% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 1,111 shares of the financial services provider’s stock worth $422,000 after purchasing an additional 600 shares in the last quarter. Private Advisor Group LLC raised its holdings in Ameriprise Financial by 10.5% in the fourth quarter. Private Advisor Group LLC now owns 6,120 shares of the financial services provider’s stock valued at $2,324,000 after acquiring an additional 583 shares in the last quarter. Machina Capital S.A.S. purchased a new position in Ameriprise Financial in the fourth quarter worth approximately $300,000. Lincoln National Corp grew its holdings in Ameriprise Financial by 35.8% during the 4th quarter. Lincoln National Corp now owns 2,588 shares of the financial services provider’s stock worth $983,000 after acquiring an additional 682 shares in the last quarter. Finally, Apollon Wealth Management LLC increased its position in shares of Ameriprise Financial by 46.4% in the 4th quarter. Apollon Wealth Management LLC now owns 4,956 shares of the financial services provider’s stock valued at $1,882,000 after purchasing an additional 1,570 shares during the last quarter. Hedge funds and other institutional investors own 83.95% of the company’s stock.

Analyst Ratings Changes

Several research firms recently issued reports on AMP. Keefe, Bruyette & Woods cut their price objective on shares of Ameriprise Financial from $470.00 to $460.00 and set a “market perform” rating for the company in a research report on Tuesday, July 30th. Jefferies Financial Group raised their price target on shares of Ameriprise Financial from $500.00 to $504.00 and gave the stock a “buy” rating in a report on Friday, June 28th. Royal Bank of Canada upped their price objective on Ameriprise Financial from $487.00 to $500.00 and gave the company an “outperform” rating in a report on Tuesday, July 30th. Piper Sandler cut their target price on Ameriprise Financial from $390.00 to $387.00 and set an “underweight” rating for the company in a research note on Friday, June 28th. Finally, UBS Group decreased their price target on Ameriprise Financial from $500.00 to $495.00 and set a “buy” rating on the stock in a research note on Tuesday, July 9th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $464.33.

About Ameriprise Financial

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.