Insider Selling: Ameriprise Financial (NYSE:AMP) EVP Sells $1,339,872.00 in Stock

Ameriprise Financial, Inc. (NYSE:AMP) EVP Deirdre Davey Mcgraw sold 2,400 shares of Ameriprise Financial stock in a transaction on Thursday, August 6th. The shares were sold at an average price of $558.28, for a total transaction of $1,339,872.00. Following the completion of the sale, the executive vice president owned 3,373 shares in the company, valued at approximately $1,883,078.44. This trade represents a 41.57% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Ameriprise Financial Stock Up 0.4%

Shares of NYSE AMP opened at $565.10 on Thursday. The firm has a fifty day simple moving average of $502.44 and a two-hundred day simple moving average of $479.14. Ameriprise Financial, Inc. has a 12 month low of $422.37 and a 12 month high of $565.44. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.99. The firm has a market capitalization of $50.80 billion, a PE ratio of 13.63, a price-to-earnings-growth ratio of 0.76 and a beta of 1.14.

Ameriprise Financial (NYSE:AMP) last announced its quarterly earnings results on Thursday, July 23rd. The financial services provider reported $11.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $10.81 by $0.26. Ameriprise Financial had a net margin of 20.24% and a return on equity of 64.19%. The company had revenue of $4.90 billion for the quarter, compared to analysts’ expectations of $4.87 billion. During the same quarter in the previous year, the company earned $9.11 earnings per share. Ameriprise Financial’s quarterly revenue was up 11.6% on a year-over-year basis. Equities analysts expect that Ameriprise Financial, Inc. will post 46.12 earnings per share for the current year.

Ameriprise Financial Announces Dividend

The company 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. The ex-dividend date is Monday, August 3rd. This represents a $6.80 annualized dividend and a dividend yield of 1.2%. Ameriprise Financial’s payout ratio is currently 16.40%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. PFG Investments LLC grew its holdings in shares of Ameriprise Financial by 1.4% in the fourth quarter. PFG Investments LLC now owns 1,488 shares of the financial services provider’s stock worth $729,000 after acquiring an additional 21 shares during the period. Institute for Wealth Management LLC. increased its position in shares of Ameriprise Financial by 3.6% during the 4th quarter. Institute for Wealth Management LLC. now owns 605 shares of the financial services provider’s stock valued at $297,000 after purchasing an additional 21 shares during the last quarter. EPG Wealth Management LLC boosted its holdings in shares of Ameriprise Financial by 0.8% in the fourth quarter. EPG Wealth Management LLC now owns 2,714 shares of the financial services provider’s stock worth $1,331,000 after buying an additional 21 shares during the last quarter. Essex Financial Services Inc. boosted its holdings in shares of Ameriprise Financial by 2.4% in the fourth quarter. Essex Financial Services Inc. now owns 904 shares of the financial services provider’s stock worth $443,000 after buying an additional 21 shares during the last quarter. Finally, SouthState Bank Corp increased its holdings in 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 buying an additional 22 shares during the last quarter. Institutional investors own 83.95% of the company’s stock.

Wall Street Analysts Forecast Growth

AMP has been the topic of a number of recent research reports. Keefe, Bruyette & Woods upped their target price on shares of Ameriprise Financial from $515.00 to $545.00 and gave the stock a “market perform” rating in a research report on Friday, July 24th. BMO Capital Markets upped their price objective on shares of Ameriprise Financial from $470.00 to $490.00 and gave the stock a “market perform” rating in a report on Friday, April 24th. Jefferies Financial Group raised their target price on shares of Ameriprise Financial from $636.00 to $645.00 and gave the company a “buy” rating in a research note on Friday, July 10th. Weiss Ratings upgraded shares of Ameriprise Financial from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, July 17th. Finally, Piper Sandler lifted their price objective on Ameriprise Financial from $471.00 to $518.00 and gave the company a “neutral” rating in a research note on Monday, July 13th. Two analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $555.33.

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.