Short Interest in Ameriprise Financial, Inc. (NYSE:AMP) Declines By 7.5%

Ameriprise Financial, Inc. (NYSE:AMP) was the target of a large decline in short interest in the month of September. As of September 15th, there was short interest totalling 1,350,000 shares, a decline of 7.5% from the August 31st total of 1,460,000 shares. Currently, 1.4% of the shares of the company are sold short. Based on an average trading volume of 475,200 shares, the days-to-cover ratio is presently 2.8 days.

Insider Buying and Selling at Ameriprise Financial

In other Ameriprise Financial news, VP William Davies sold 8,700 shares of the stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $442.07, for a total value of $3,846,009.00. Following the sale, the vice president now directly owns 13,199 shares in the company, valued at approximately $5,834,881.93. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.73% of the company’s stock.

Hedge Funds Weigh In On Ameriprise Financial

Large investors have recently modified their holdings of the stock. JPMorgan Chase & Co. increased its holdings in Ameriprise Financial by 18.6% during the first quarter. JPMorgan Chase & Co. now owns 3,844,165 shares of the financial services provider’s stock valued at $1,685,436,000 after buying an additional 603,267 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in Ameriprise Financial by 10.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,129,632 shares of the financial services provider’s stock worth $482,588,000 after acquiring an additional 110,319 shares during the period. Legal & General Group Plc lifted its stake in shares of Ameriprise Financial by 1.4% during the 2nd quarter. Legal & General Group Plc now owns 823,249 shares of the financial services provider’s stock valued at $351,685,000 after buying an additional 11,060 shares in the last quarter. TD Asset Management Inc raised its holdings in Ameriprise Financial by 18.8% during the first quarter. TD Asset Management Inc now owns 707,617 shares of the financial services provider’s stock valued at $310,248,000 after acquiring an additional 111,973 shares during the period. Finally, Envestnet Asset Management Inc. boosted its stake in shares of Ameriprise Financial by 5.2% in the fourth quarter. Envestnet Asset Management Inc. now owns 652,360 shares of the financial services provider’s stock worth $247,786,000 after acquiring an additional 32,312 shares during the period. Hedge funds and other institutional investors own 83.95% of the company’s stock.

Analyst Upgrades and Downgrades

AMP has been the subject of a number of research analyst reports. The Goldman Sachs Group downgraded shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $485.00 to $476.00 in a report on Thursday, September 26th. Morgan Stanley dropped their target price on Ameriprise Financial from $444.00 to $440.00 and set an “equal weight” rating for the company in a research report on Monday, July 29th. Jefferies Financial Group increased their price target on shares of Ameriprise Financial from $500.00 to $504.00 and gave the company a “buy” rating in a research report on Friday, June 28th. Royal Bank of Canada raised their target price on shares of Ameriprise Financial from $487.00 to $500.00 and gave the stock an “outperform” rating in a report on Tuesday, July 30th. Finally, UBS Group cut their price target on shares of Ameriprise Financial from $500.00 to $495.00 and set a “buy” rating on the stock in a report on Tuesday, July 9th. One research analyst has rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, Ameriprise Financial has an average rating of “Hold” and an average price target of $463.00.

Ameriprise Financial Stock Up 0.9 %

Shares of NYSE:AMP traded up $4.14 during trading on Tuesday, hitting $473.95. The stock had a trading volume of 258,887 shares, compared to its average volume of 475,963. Ameriprise Financial has a 12 month low of $306.63 and a 12 month high of $476.18. The company has a market capitalization of $47.08 billion, a PE ratio of 15.99, a PEG ratio of 0.80 and a beta of 1.35. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 1.16. The firm’s fifty day moving average is $435.13 and its 200 day moving average is $430.89.

Ameriprise Financial (NYSE:AMP) last posted its quarterly earnings data on Wednesday, July 24th. The financial services provider reported $8.72 EPS for the quarter, topping the consensus estimate of $8.53 by $0.19. Ameriprise Financial had a net margin of 18.64% and a return on equity of 73.83%. The business had revenue of $4.39 billion for the quarter, compared to analyst estimates of $4.24 billion. During the same quarter in the previous year, the firm posted $7.44 earnings per share. Ameriprise Financial’s quarterly revenue was up 9.6% on a year-over-year basis. Analysts anticipate that Ameriprise Financial will post 34.81 EPS for the current fiscal year.

Ameriprise Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 16th. Shareholders of record on Monday, August 5th were paid a dividend of $1.48 per share. This represents a $5.92 dividend on an annualized basis and a yield of 1.25%. The ex-dividend date was Monday, August 5th. Ameriprise Financial’s payout ratio is 20.15%.

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.