Ameriprise Financial (NYSE:AMP) Insider Gumer Alvero Sells 4,658 Shares

Ameriprise Financial, Inc. (NYSE:AMP) insider Gumer Alvero sold 4,658 shares of the stock in a transaction that occurred on Monday, February 9th. The stock was sold at an average price of $542.88, for a total value of $2,528,735.04. Following the transaction, the insider owned 4,621 shares in the company, valued at $2,508,648.48. The trade was a 50.20% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Ameriprise Financial Stock Down 3.9%

Ameriprise Financial stock traded down $19.63 during mid-day trading on Wednesday, reaching $486.01. The stock had a trading volume of 1,351,555 shares, compared to its average volume of 659,426. The firm has a market capitalization of $45.16 billion, a PE ratio of 13.37, a price-to-earnings-growth ratio of 1.26 and a beta of 1.26. Ameriprise Financial, Inc. has a fifty-two week low of $396.14 and a fifty-two week high of $552.43. The stock’s 50-day simple moving average is $502.26 and its 200-day simple moving average is $491.72. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.68 and a current ratio of 0.68.

Ameriprise Financial (NYSE:AMP) last issued its earnings results on Thursday, January 29th. The financial services provider reported $10.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $10.33 by $0.50. The company had revenue of $4.90 billion for the quarter, compared to analysts’ expectations of $4.75 billion. Ameriprise Financial had a return on equity of 63.04% and a net margin of 19.28%.Ameriprise Financial’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same period last year, the business earned $9.54 EPS. On average, sell-side analysts forecast that Ameriprise Financial, Inc. will post 38.64 EPS for the current fiscal year.

Ameriprise Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 27th. Stockholders of record on Monday, February 9th will be issued a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date is Monday, February 9th. Ameriprise Financial’s dividend payout ratio (DPR) is currently 17.60%.

Hedge Funds Weigh In On Ameriprise Financial

Institutional investors have recently added to or reduced their stakes in the stock. SouthState Bank Corp increased its position 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 buying an additional 22 shares during the period. Whipplewood Advisors LLC increased its holdings in Ameriprise Financial by 71.0% during the 2nd quarter. Whipplewood Advisors LLC now owns 53 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 22 shares during the period. Salomon & Ludwin LLC lifted its stake in Ameriprise Financial by 115.4% in the 2nd quarter. Salomon & Ludwin LLC now owns 56 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 30 shares in the last quarter. Holos Integrated Wealth LLC bought a new stake in Ameriprise Financial during the fourth quarter valued at $30,000. Finally, Winnow Wealth LLC bought a new position in Ameriprise Financial in the 2nd quarter worth about $32,000. Institutional investors own 83.95% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on AMP shares. Jefferies Financial Group raised their price target on shares of Ameriprise Financial from $600.00 to $620.00 and gave the company a “buy” rating in a research report on Monday, February 2nd. Royal Bank Of Canada reissued an “outperform” rating and issued a $605.00 price objective (up from $580.00) on shares of Ameriprise Financial in a research note on Monday, February 2nd. Morgan Stanley raised their target price on Ameriprise Financial from $484.00 to $485.00 and gave the company an “underweight” rating in a report on Monday, December 22nd. Weiss Ratings reiterated a “buy (b-)” rating on shares of Ameriprise Financial in a report on Monday, December 29th. Finally, Argus lowered their price target on Ameriprise Financial from $568.00 to $554.00 and set a “buy” rating for the company in a research report on Thursday, November 13th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $555.67.

About Ameriprise Financial

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.