Insider Selling: Ameriprise Financial, Inc. (NYSE:AMP) VP Sells $3,846,009.00 in Stock

Ameriprise Financial, Inc. (NYSE:AMP) VP William Davies sold 8,700 shares of the business’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $442.07, for a total value of $3,846,009.00. Following the completion of the transaction, the vice president now directly owns 13,199 shares of the company’s stock, valued at $5,834,881.93. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Ameriprise Financial Stock Down 2.1 %

Shares of NYSE:AMP opened at $430.41 on Friday. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 1.16. The business has a fifty day moving average of $428.01 and a two-hundred day moving average of $425.74. The stock has a market cap of $42.75 billion, a P/E ratio of 14.65, a PEG ratio of 0.78 and a beta of 1.35. Ameriprise Financial, Inc. has a 52-week low of $306.63 and a 52-week high of $450.35.

Ameriprise Financial (NYSE:AMP) last issued its earnings results on Wednesday, July 24th. The financial services provider reported $8.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $8.53 by $0.19. The company had revenue of $4.39 billion during the quarter, compared to analysts’ expectations of $4.24 billion. Ameriprise Financial had a return on equity of 73.83% and a net margin of 18.64%. The firm’s quarterly revenue was up 9.6% on a year-over-year basis. During the same period in the prior year, the business earned $7.44 EPS. On average, research analysts expect that Ameriprise Financial, Inc. will post 34.81 earnings per share for the current year.

Ameriprise Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 16th. Shareholders of record on Monday, August 5th were issued a $1.48 dividend. This represents a $5.92 annualized dividend and a yield of 1.38%. The ex-dividend date was Monday, August 5th. Ameriprise Financial’s payout ratio is currently 20.15%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on AMP. Piper Sandler reduced their target price on Ameriprise Financial from $390.00 to $387.00 and set an “underweight” rating for the company in a research note on Friday, June 28th. Jefferies Financial Group upped their target price on Ameriprise Financial from $500.00 to $504.00 and gave the stock a “buy” rating in a research note on Friday, June 28th. UBS Group reduced their target price on Ameriprise Financial from $500.00 to $495.00 and set a “buy” rating for the company in a research note on Tuesday, July 9th. Keefe, Bruyette & Woods reduced their target price on Ameriprise Financial from $470.00 to $460.00 and set a “market perform” rating for the company in a research note on Tuesday, July 30th. Finally, Royal Bank of Canada upped their target price on Ameriprise Financial from $487.00 to $500.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 30th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, Ameriprise Financial presently has a consensus rating of “Hold” and a consensus target price of $464.33.

Institutional Trading of Ameriprise Financial

Several large investors have recently added to or reduced their stakes in AMP. Retirement Group LLC purchased a new position in shares of Ameriprise Financial during the 1st quarter worth $25,000. DiNuzzo Private Wealth Inc. grew its holdings in shares of Ameriprise Financial by 268.8% during the 2nd quarter. DiNuzzo Private Wealth Inc. now owns 59 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 43 shares during the period. Accordant Advisory Group Inc purchased a new position in shares of Ameriprise Financial during the 2nd quarter worth $26,000. Redmont Wealth Advisors LLC purchased a new position in shares of Ameriprise Financial during the 1st quarter worth $28,000. Finally, Mascoma Wealth Management LLC grew its holdings in shares of Ameriprise Financial by 153.8% during the 2nd quarter. Mascoma Wealth Management LLC now owns 66 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 40 shares during the period. 83.95% of the stock is currently owned by hedge funds and other institutional investors.

About Ameriprise Financial

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.