Ameriprise Financial (NYSE:AMP) Insider William Jerryl Williams Sells 8,210 Shares of Stock

Ameriprise Financial, Inc. (NYSE:AMP) insider William Jerryl Williams sold 8,210 shares of the firm’s stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $539.35, for a total value of $4,428,063.50. Following the completion of the transaction, the insider owned 6,780 shares in the company, valued at approximately $3,656,793. This trade represents a 54.77% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

William Jerryl Williams also recently made the following trade(s):

• On Monday, July 27th, William Jerryl Williams sold 7,894 shares of Ameriprise Financial stock. The shares were sold at an average price of $537.08, for a total value of $4,239,709.52.

Ameriprise Financial Stock Down 1.0%

Shares of NYSE:AMP opened at $541.09 on Thursday. The stock has a 50-day simple moving average of $480.85 and a 200-day simple moving average of $475.59. The stock has a market capitalization of $48.64 billion, a P/E ratio of 13.05, a PEG ratio of 0.74 and a beta of 1.16. Ameriprise Financial, Inc. has a 1 year low of $422.37 and a 1 year high of $553.46. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.66 and a current ratio of 0.71.

Ameriprise Financial (NYSE:AMP) last posted its quarterly earnings results on Thursday, July 23rd. The financial services provider reported $11.07 EPS for the quarter, beating the consensus estimate of $10.81 by $0.26. The firm had revenue of $4.90 billion for the quarter, compared to analyst estimates of $4.87 billion. Ameriprise Financial had a net margin of 20.24% and a return on equity of 64.19%. Ameriprise Financial’s revenue for the quarter was up 11.6% compared to the same quarter last year. During the same quarter last year, the firm posted $9.11 earnings per share. Equities analysts forecast that Ameriprise Financial, Inc. will post 45.84 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, August 21st. Investors of record on Monday, August 3rd will be given a dividend of $1.70 per share. This represents a $6.80 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend is Monday, August 3rd. Ameriprise Financial’s dividend payout ratio is 16.40%.

Wall Street Analysts Forecast Growth

AMP has been the topic of a number of recent research reports. Piper Sandler boosted their price objective on Ameriprise Financial from $471.00 to $518.00 and gave the stock a “neutral” rating in a research note on Monday, July 13th. Morgan Stanley increased their target price on Ameriprise Financial from $467.00 to $489.00 and gave the company an “underweight” rating in a research note on Friday, July 10th. Weiss Ratings upgraded Ameriprise Financial from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, July 17th. BMO Capital Markets boosted their price target on Ameriprise Financial from $470.00 to $490.00 and gave the stock a “market perform” rating in a research report on Friday, April 24th. Finally, Zacks Research upgraded Ameriprise Financial from a “hold” rating to a “strong-buy” rating in a report on Monday. Two research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Ameriprise Financial presently has a consensus rating of “Moderate Buy” and an average target price of $555.33.

Hedge Funds Weigh In On Ameriprise Financial

A number of institutional investors have recently added to or reduced their stakes in AMP. SouthState Bank Corp grew its stake in shares of Ameriprise Financial by 78.6% during the fourth quarter. SouthState Bank Corp now owns 50 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 22 shares in the last quarter. Cassaday & Co Wealth Management LLC purchased a new stake in shares of Ameriprise Financial during the first quarter worth about $28,000. Ares Financial Consulting LLC acquired a new position in shares of Ameriprise Financial in the fourth quarter worth about $32,000. Prosperity Bancshares Inc acquired a new position in shares of Ameriprise Financial in the fourth quarter worth about $33,000. Finally, WFA of San Diego LLC purchased a new position in Ameriprise Financial in the second quarter valued at about $36,000. Institutional investors and hedge funds own 83.95% of the company’s stock.

More Ameriprise Financial News

Here are the key news stories impacting Ameriprise Financial this week:

• Positive Sentiment: Zacks Research upgraded Ameriprise Financial from “Hold” to “Strong Buy,” citing improving earnings prospects. The upgrade could support investor demand for the shares. Zacks rating upgrade article
• Positive Sentiment: AMP was included on Zacks’ list of top-value stocks with a Rank #1 “Strong Buy” rating, reinforcing the view that its valuation and earnings outlook remain attractive. Zacks best value stocks article
• Positive Sentiment: A second Zacks analysis highlighted Ameriprise as a potential value investment, while a quarterly review pointed to asset growth, adviser productivity and strategic platform expansion as key business drivers. Ameriprise value stock analysis
• Neutral Sentiment: Ameriprise was recognized by J.D. Power for outstanding customer service for the fifth consecutive year. The award supports brand strength and client retention but is unlikely to materially change near-term financial forecasts. J.D. Power customer service recognition
• Negative Sentiment: Insider William Jerryl Williams sold 16,104 AMP shares across July 27–28 for approximately $8.67 million, reducing his holdings in two transactions by 42.04% and 54.77%, respectively. The sizable sales may pressure sentiment, particularly with the stock trading near its 52-week high. SEC insider transaction filing

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.