Deirdre Davey Mcgraw Sells 1,200 Shares of Ameriprise Financial Services, Inc. (AMP) Stock
Ameriprise Financial Services, Inc. (NYSE:AMP) EVP Deirdre Davey Mcgraw sold 1,200 shares of the company’s stock in a transaction that occurred on Thursday, August 10th. The stock was sold at an average price of $145.06, for a total value of $174,072.00. Following the sale, the executive vice president now directly owns 13,689 shares in the company, valued at $1,985,726.34. The sale was disclosed in a filing with the SEC, which is available through this link.
Ameriprise Financial Services, Inc. (AMP) traded up 1.24% during mid-day trading on Monday, reaching $145.14. The company had a trading volume of 723,908 shares. Ameriprise Financial Services, Inc. has a 52 week low of $86.25 and a 52 week high of $149.99. The stock has a 50 day moving average of $137.63 and a 200 day moving average of $129.80. The stock has a market capitalization of $21.76 billion, a price-to-earnings ratio of 16.62 and a beta of 1.86.
Ameriprise Financial Services (NYSE:AMP) last released its quarterly earnings data on Tuesday, July 25th. The financial services provider reported $2.80 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.62 by $0.18. The company had revenue of $2.95 billion for the quarter, compared to analyst estimates of $2.90 billion. Ameriprise Financial Services had a return on equity of 26.54% and a net margin of 11.81%. The firm’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.23 earnings per share. Analysts anticipate that Ameriprise Financial Services, Inc. will post $11.30 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 18th. Shareholders of record on Monday, August 7th will be paid a dividend of $0.83 per share. This represents a $3.32 dividend on an annualized basis and a yield of 2.29%. The ex-dividend date is Thursday, August 3rd. Ameriprise Financial Services’s dividend payout ratio (DPR) is currently 37.81%.
Ameriprise Financial Services declared that its board has authorized a share buyback program on Monday, April 24th that authorizes the company to buyback $2.50 billion in outstanding shares. This buyback authorization authorizes the financial services provider to reacquire up to 12.3% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.
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AMP has been the topic of several recent research reports. Zacks Investment Research cut Ameriprise Financial Services from a “buy” rating to a “hold” rating in a report on Wednesday, April 26th. Royal Bank Of Canada set a $149.00 price objective on Ameriprise Financial Services and gave the stock a “sector perform” rating in a report on Wednesday, July 26th. Barclays PLC reaffirmed an “equal weight” rating and set a $130.00 price objective (up from $127.00) on shares of Ameriprise Financial Services in a report on Tuesday, April 25th. SunTrust Banks, Inc. restated a “hold” rating and set a $127.00 price target (up previously from $124.00) on shares of Ameriprise Financial Services in a report on Wednesday, April 26th. Finally, Morgan Stanley increased their price target on Ameriprise Financial Services from $148.00 to $152.00 and gave the company an “overweight” rating in a report on Wednesday, July 26th. One analyst has rated the stock with a sell rating, four have issued a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $146.98.
Institutional investors have recently added to or reduced their stakes in the company. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC raised its position in Ameriprise Financial Services by 0.7% in the second quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC now owns 834 shares of the financial services provider’s stock worth $106,000 after buying an additional 6 shares during the period. Parallel Advisors LLC raised its position in Ameriprise Financial Services by 17.5% in the second quarter. Parallel Advisors LLC now owns 777 shares of the financial services provider’s stock worth $113,000 after buying an additional 116 shares during the period. Dubuque Bank & Trust Co. raised its position in Ameriprise Financial Services by 2.4% in the first quarter. Dubuque Bank & Trust Co. now owns 954 shares of the financial services provider’s stock worth $124,000 after buying an additional 22 shares during the period. Mckinley Capital Management LLC Delaware bought a new position in Ameriprise Financial Services during the first quarter worth $124,000. Finally, State of Alaska Department of Revenue bought a new position in Ameriprise Financial Services during the first quarter worth $125,000. 82.01% of the stock is currently owned by institutional investors.
About Ameriprise Financial Services
Ameriprise Financial, Inc is a financial services company that offers financial solutions to individual and institutional clients. The Company operates in five segments: Advice & Wealth Management; Asset Management; Annuities; Protection, and Corporate & Other. The Company uses Ameriprise Financial as its enterprise brand, as well as the name of its advisor network and certain of its retail products and services.
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