Ameriprise Financial, Inc. (NYSE:AMP) Sees Significant Decline in Short Interest

Ameriprise Financial, Inc. (NYSE:AMP) was the target of a large drop in short interest in March. As of March 31st, there was short interest totalling 901,300 shares, a drop of 7.2% from the March 15th total of 970,900 shares. Based on an average trading volume of 477,400 shares, the short-interest ratio is presently 1.9 days. Approximately 0.9% of the shares of the company are short sold.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on AMP. Royal Bank of Canada lifted their price objective on Ameriprise Financial from $410.00 to $420.00 and gave the stock an “outperform” rating in a report on Monday, January 22nd. Keefe, Bruyette & Woods lifted their price target on shares of Ameriprise Financial from $420.00 to $460.00 and gave the stock a “market perform” rating in a research note on Wednesday, April 10th. Piper Sandler increased their price objective on shares of Ameriprise Financial from $360.00 to $392.00 and gave the company an “underweight” rating in a research note on Friday, April 5th. The Goldman Sachs Group raised their price objective on shares of Ameriprise Financial from $437.00 to $488.00 and gave the stock a “buy” rating in a report on Wednesday, March 27th. Finally, Morgan Stanley upped their target price on shares of Ameriprise Financial from $400.00 to $437.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 9th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $441.00.

Insider Activity at Ameriprise Financial

In other Ameriprise Financial news, CEO William F. Truscott sold 9,689 shares of the business’s stock in a transaction on Friday, January 26th. The shares were sold at an average price of $390.22, for a total transaction of $3,780,841.58. Following the completion of the transaction, the chief executive officer now owns 12,126 shares of the company’s stock, valued at approximately $4,731,807.72. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, CFO Walter Stanley Berman sold 13,346 shares of the firm’s stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $387.81, for a total value of $5,175,712.26. Following the sale, the chief financial officer now owns 6,409 shares in the company, valued at $2,485,474.29. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO William F. Truscott sold 9,689 shares of the firm’s stock in a transaction on Friday, January 26th. The stock was sold at an average price of $390.22, for a total transaction of $3,780,841.58. Following the completion of the sale, the chief executive officer now owns 12,126 shares in the company, valued at $4,731,807.72. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 89,161 shares of company stock valued at $35,560,647. Corporate insiders own 0.96% of the company’s stock.

Hedge Funds Weigh In On Ameriprise Financial

Several institutional investors have recently bought and sold shares of AMP. Cornerstone Wealth Group LLC bought a new stake in shares of Ameriprise Financial during the first quarter worth $224,000. Annapolis Financial Services LLC lifted its position in Ameriprise Financial by 928.6% during the 1st quarter. Annapolis Financial Services LLC now owns 72 shares of the financial services provider’s stock worth $32,000 after buying an additional 65 shares in the last quarter. Founders Financial Securities LLC bought a new stake in Ameriprise Financial during the 1st quarter worth about $206,000. Vicus Capital bought a new stake in Ameriprise Financial during the 1st quarter worth about $227,000. Finally, First Bank & Trust raised its stake in shares of Ameriprise Financial by 3.4% in the first quarter. First Bank & Trust now owns 934 shares of the financial services provider’s stock worth $410,000 after acquiring an additional 31 shares during the last quarter. Institutional investors own 83.95% of the company’s stock.

Ameriprise Financial Stock Up 0.2 %

Shares of NYSE:AMP opened at $411.77 on Thursday. The company’s fifty day moving average is $416.13 and its 200-day moving average is $376.75. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.56 and a current ratio of 0.56. Ameriprise Financial has a 52 week low of $279.85 and a 52 week high of $440.67. The company has a market capitalization of $41.26 billion, a PE ratio of 17.37, a P/E/G ratio of 0.68 and a beta of 1.36.

Ameriprise Financial (NYSE:AMP) last released its quarterly earnings results on Thursday, January 25th. The financial services provider reported $7.75 EPS for the quarter, beating analysts’ consensus estimates of $7.67 by $0.08. The firm had revenue of $3.99 billion for the quarter, compared to analyst estimates of $3.90 billion. Ameriprise Financial had a net margin of 16.27% and a return on equity of 77.39%. The company’s revenue for the quarter was up 9.0% compared to the same quarter last year. During the same period in the previous year, the business earned $6.94 earnings per share. Equities research analysts predict that Ameriprise Financial will post 34.43 earnings per share for the current fiscal year.

Ameriprise Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, February 27th. Investors of record on Friday, February 9th were given a dividend of $1.35 per share. The ex-dividend date was Thursday, February 8th. This represents a $5.40 dividend on an annualized basis and a yield of 1.31%. Ameriprise Financial’s dividend payout ratio (DPR) is presently 22.78%.

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.