Ameriprise Financial (NYSE:AMP) CEO William Truscott Sells 5,000 Shares

Ameriprise Financial, Inc. (NYSE:AMP) CEO William Truscott sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 10th. The stock was sold at an average price of $532.08, for a total transaction of $2,660,400.00. Following the transaction, the chief executive officer directly owned 12,149 shares of the company’s stock, valued at $6,464,239.92. This trade represents a 29.16% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

Ameriprise Financial Stock Down 3.8%

Ameriprise Financial stock traded down $18.47 during trading on Thursday, reaching $467.49. 1,691,728 shares of the company’s stock were exchanged, compared to its average volume of 704,909. The company’s 50-day moving average is $502.58 and its two-hundred day moving average is $491.68. The firm has a market cap of $43.43 billion, a price-to-earnings ratio of 12.86, a PEG ratio of 1.18 and a beta of 1.26. Ameriprise Financial, Inc. has a 52-week low of $396.14 and a 52-week high of $552.43. 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 posted its quarterly earnings data on Thursday, January 29th. The financial services provider reported $10.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $10.33 by $0.50. The company had revenue of $4.90 billion for the quarter, compared to the consensus estimate of $4.75 billion. Ameriprise Financial had a return on equity of 63.04% and a net margin of 19.28%.Ameriprise Financial’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same period in the previous year, the business earned $9.54 EPS. On average, analysts predict that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current year.

Ameriprise Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 27th. Investors of record on Monday, February 9th will be issued a dividend of $1.60 per share. The ex-dividend date of this dividend is Monday, February 9th. This represents a $6.40 annualized dividend and a yield of 1.4%. Ameriprise Financial’s payout ratio is presently 17.60%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. SouthState Bank Corp increased its stake in Ameriprise Financial by 78.6% in the fourth 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 in the last quarter. Whipplewood Advisors LLC boosted its position 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 last quarter. Salomon & Ludwin LLC grew its position in Ameriprise Financial by 115.4% in the second quarter. Salomon & Ludwin LLC now owns 56 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 30 shares in the last quarter. Holos Integrated Wealth LLC acquired a new stake in shares of Ameriprise Financial in the fourth quarter valued at about $30,000. Finally, Winnow Wealth LLC acquired a new stake in shares of Ameriprise Financial in the 2nd quarter valued at approximately $32,000. 83.95% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts recently issued reports on AMP shares. Piper Sandler upgraded Ameriprise Financial from an “underweight” rating to a “neutral” rating and lifted their target price for the stock from $434.00 to $530.00 in a report on Friday, January 30th. Raymond James Financial set a $582.00 price target on shares of Ameriprise Financial and gave the company a “strong-buy” rating in a research report on Wednesday. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $605.00 price objective (up from $580.00) on shares of Ameriprise Financial in a research report on Monday, February 2nd. Argus cut their target price on shares of Ameriprise Financial from $568.00 to $554.00 and set a “buy” rating for the company in a research report on Thursday, November 13th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Ameriprise Financial in a research note on Monday, December 29th. 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 company. According to MarketBeat.com, Ameriprise Financial currently has an average rating of “Hold” and an average 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.