Dawn Brockman Sells 472 Shares of Ameriprise Financial (NYSE:AMP) Stock

Ameriprise Financial, Inc. (NYSE:AMP) SVP Dawn Brockman sold 472 shares of the firm’s stock in a transaction on Monday, August 10th. The shares were sold at an average price of $558.93, for a total value of $263,814.96. Following the sale, the senior vice president directly owned 713 shares of the company’s stock, valued at approximately $398,517.09. This represents a 39.83% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Ameriprise Financial Price Performance

Shares of NYSE:AMP opened at $570.80 on Friday. The company’s 50-day moving average is $504.75 and its 200 day moving average is $479.66. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.71 and a current ratio of 0.71. The company has a market capitalization of $51.32 billion, a P/E ratio of 13.77, a price-to-earnings-growth ratio of 0.76 and a beta of 1.14. Ameriprise Financial, Inc. has a fifty-two week low of $422.37 and a fifty-two week high of $571.17.

Ameriprise Financial (NYSE:AMP) last posted its quarterly earnings data on Thursday, July 23rd. The financial services provider reported $11.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $10.81 by $0.26. The business had revenue of $4.90 billion during the quarter, compared to the consensus estimate of $4.87 billion. Ameriprise Financial had a net margin of 20.24% and a return on equity of 64.19%. The firm’s quarterly revenue was up 11.6% compared to the same quarter last year. During the same quarter last year, the company posted $9.11 earnings per share. On average, equities research analysts forecast that Ameriprise Financial, Inc. will post 46.12 earnings per share for the current year.

Ameriprise Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 21st. Stockholders of record on Monday, August 3rd will be paid 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 dividend payout ratio (DPR) is presently 16.40%.

Analysts Set New Price Targets

Several research firms recently commented on AMP. Zacks Research upgraded Ameriprise Financial from a “hold” rating to a “strong-buy” rating in a research note on Monday, July 27th. Weiss Ratings raised Ameriprise Financial from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, July 17th. Keefe, Bruyette & Woods raised their target price on 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 boosted their target price on Ameriprise Financial from $470.00 to $490.00 and gave the company a “market perform” rating in a research note on Friday, April 24th. Finally, Jefferies Financial Group upped their price target on Ameriprise Financial from $636.00 to $645.00 and gave the company a “buy” rating in a research report on Friday, July 10th. Two analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Ameriprise Financial currently has an average rating of “Moderate Buy” and a consensus target price of $555.33.

Institutional Investors Weigh In On Ameriprise Financial

Institutional investors have recently made changes to their positions in the stock. SouthState Bank Corp raised its stake in shares of Ameriprise Financial by 78.6% during the 4th quarter. SouthState Bank Corp now owns 50 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 22 shares during the period. Cassaday & Co Wealth Management LLC purchased a new position in Ameriprise Financial during the 1st quarter valued at about $28,000. University of Texas Texas AM Investment Management Co. bought a new stake in shares of Ameriprise Financial during the second quarter valued at about $28,000. Ares Financial Consulting LLC purchased a new stake in shares of Ameriprise Financial in the fourth quarter worth about $32,000. Finally, Prosperity Bancshares Inc bought a new position in shares of Ameriprise Financial in the fourth quarter valued at approximately $33,000. Hedge funds and other institutional investors own 83.95% of the company’s stock.

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.