Ameriprise Financial (NYSE:AMP) Stock Price Down 5.3% – Here’s Why

Ameriprise Financial, Inc. (NYSE:AMP)’s stock price traded down 5.3% during trading on Thursday . The stock traded as low as $546.37 and last traded at $544.64. 63,296 shares were traded during trading, a decline of 86% from the average session volume of 455,934 shares. The stock had previously closed at $575.13.

Wall Street Analyst Weigh In

AMP has been the topic of a number of analyst reports. Morgan Stanley lifted their price objective on shares of Ameriprise Financial from $440.00 to $502.00 and gave the company an “equal weight” rating in a research note on Thursday, October 17th. Keefe, Bruyette & Woods decreased their target price on Ameriprise Financial from $565.00 to $560.00 and set a “market perform” rating for the company in a research report on Friday, January 10th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $625.00 price objective on shares of Ameriprise Financial in a research report on Monday. Finally, UBS Group downgraded Ameriprise Financial from a “buy” rating to a “neutral” rating and cut their price target for the stock from $580.00 to $570.00 in a report on Monday, January 6th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, Ameriprise Financial currently has an average rating of “Hold” and an average target price of $503.22.

Ameriprise Financial Stock Performance

The company’s 50-day moving average price is $548.61 and its two-hundred day moving average price is $496.50. The company has a market cap of $53.72 billion, a P/E ratio of 21.26, a price-to-earnings-growth ratio of 0.85 and a beta of 1.36. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.99.

Ameriprise Financial (NYSE:AMP) last posted its quarterly earnings results on Wednesday, January 29th. The financial services provider reported $9.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $9.16 by $0.20. Ameriprise Financial had a net margin of 15.99% and a return on equity of 68.52%. As a group, equities analysts forecast that Ameriprise Financial, Inc. will post 33.96 earnings per share for the current year.

Ameriprise Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Monday, February 10th will be issued a dividend of $1.48 per share. This represents a $5.92 annualized dividend and a yield of 1.07%. Ameriprise Financial’s payout ratio is presently 22.73%.

Insiders Place Their Bets

In other news, insider Joseph Edward Sweeney sold 10,735 shares of the firm’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $549.68, for a total value of $5,900,814.80. Following the completion of the sale, the insider now owns 5,811 shares of the company’s stock, valued at $3,194,190.48. This trade represents a 64.88 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Walter Stanley Berman sold 8,655 shares of Ameriprise Financial stock in a transaction on Monday, November 11th. The shares were sold at an average price of $564.16, for a total value of $4,882,804.80. Following the transaction, the chief financial officer now owns 6,409 shares in the company, valued at $3,615,701.44. This represents a 57.45 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.73% of the company’s stock.

Hedge Funds Weigh In On Ameriprise Financial

Several hedge funds and other institutional investors have recently added to or reduced their stakes in AMP. Manchester Capital Management LLC grew its position in Ameriprise Financial by 1.3% in the 4th quarter. Manchester Capital Management LLC now owns 3,992 shares of the financial services provider’s stock worth $2,126,000 after purchasing an additional 50 shares during the last quarter. Nations Financial Group Inc. IA ADV lifted its stake in shares of Ameriprise Financial by 3.7% in the fourth quarter. Nations Financial Group Inc. IA ADV now owns 5,606 shares of the financial services provider’s stock valued at $2,985,000 after buying an additional 199 shares during the period. Quadrant Private Wealth Management LLC acquired a new stake in Ameriprise Financial during the fourth quarter worth about $227,000. AustralianSuper Pty Ltd increased its stake in Ameriprise Financial by 41.1% during the fourth quarter. AustralianSuper Pty Ltd now owns 256,309 shares of the financial services provider’s stock valued at $136,467,000 after acquiring an additional 74,705 shares during the period. Finally, V Square Quantitative Management LLC raised its holdings in Ameriprise Financial by 4.8% in the 4th quarter. V Square Quantitative Management LLC now owns 2,276 shares of the financial services provider’s stock valued at $1,212,000 after acquiring an additional 105 shares in the last quarter. Institutional investors own 83.95% of the company’s stock.

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.