Ameriprise Financial, Inc. (NYSE:AMP) Short Interest Update

Ameriprise Financial, Inc. (NYSE:AMP) was the target of a significant 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 short sold. Based on an average daily volume of 475,200 shares, the short-interest ratio is currently 2.8 days.

Insider Transactions at Ameriprise Financial

In other news, VP William Davies sold 8,700 shares of Ameriprise Financial stock in a transaction dated 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 transaction, the vice president now directly owns 13,199 shares in the company, valued at $5,834,881.93. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.73% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Mattson Financial Services LLC bought a new stake in shares of Ameriprise Financial during the 2nd quarter valued at $1,215,000. Verity & Verity LLC raised its position in shares of Ameriprise Financial by 5.9% during the 2nd quarter. Verity & Verity LLC now owns 22,020 shares of the financial services provider’s stock valued at $9,407,000 after acquiring an additional 1,228 shares during the last quarter. Sanctuary Advisors LLC bought a new stake in shares of Ameriprise Financial during the 2nd quarter valued at $6,407,000. Brown Financial Advisors bought a new stake in shares of Ameriprise Financial during the 2nd quarter valued at $721,000. Finally, Kestra Investment Management LLC bought a new stake in shares of Ameriprise Financial during the 2nd quarter valued at $731,000. Institutional investors own 83.95% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. The Goldman Sachs Group lowered Ameriprise Financial from a “buy” rating to a “neutral” rating and lowered their price target for the company from $485.00 to $476.00 in a research note on Thursday, September 26th. Piper Sandler lowered their price target on Ameriprise Financial from $390.00 to $387.00 and set an “underweight” rating on the stock in a research note on Friday, June 28th. Morgan Stanley decreased their price objective on Ameriprise Financial from $444.00 to $440.00 and set an “equal weight” rating on the stock in a report on Monday, July 29th. UBS Group decreased their price objective on Ameriprise Financial from $500.00 to $495.00 and set a “buy” rating on the stock in a report on Tuesday, July 9th. Finally, Royal Bank of Canada lifted 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. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the stock. According to MarketBeat, Ameriprise Financial presently has an average rating of “Hold” and a consensus target price of $463.00.

Ameriprise Financial Price Performance

Shares of AMP traded up $4.07 on Tuesday, hitting $473.88. The company’s stock had a trading volume of 241,224 shares, compared to its average volume of 475,869. The company has a market capitalization of $47.07 billion, a PE ratio of 15.99, a PEG ratio of 0.80 and a beta of 1.35. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.59 and a quick ratio of 0.59. Ameriprise Financial has a fifty-two week low of $306.63 and a fifty-two week high of $476.18. The company has a 50 day moving average price of $435.13 and a 200 day moving average price of $430.89.

Ameriprise Financial (NYSE:AMP) last announced its earnings results 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 return on equity of 73.83% and a net margin of 18.64%. The business had revenue of $4.39 billion for the quarter, compared to the consensus estimate of $4.24 billion. During the same period in the previous year, the business earned $7.44 EPS. Ameriprise Financial’s revenue was up 9.6% compared to the same quarter last year. On average, research analysts anticipate that Ameriprise Financial will post 34.81 earnings per share for the current fiscal year.

Ameriprise Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 16th. Investors of record on Monday, August 5th were given a $1.48 dividend. This represents a $5.92 annualized dividend and a yield of 1.25%. The ex-dividend date of this dividend was Monday, August 5th. Ameriprise Financial’s dividend payout ratio (DPR) is presently 20.15%.

Ameriprise Financial Company Profile

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.