Ameriprise Financial (NYSE:AMP) Insider Sells $4,428,063.50 in Stock

Ameriprise Financial, Inc. (NYSE:AMP) insider William Jerryl Williams sold 8,210 shares of the stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $539.35, for a total value of $4,428,063.50. Following the completion of the transaction, the insider directly owned 6,780 shares in the company, valued at $3,656,793. This represents a 54.77% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

William Jerryl Williams also recently made the following trade(s):

• On Monday, July 27th, William Jerryl Williams sold 7,894 shares of Ameriprise Financial stock. The stock was sold at an average price of $537.08, for a total value of $4,239,709.52.

Ameriprise Financial Stock Performance

Shares of Ameriprise Financial stock traded down $5.53 on Wednesday, reaching $541.09. 444,717 shares of the stock were exchanged, compared to its average volume of 687,189. The business has a 50 day moving average price of $479.17 and a two-hundred day moving average price of $475.33. The firm has a market capitalization of $48.64 billion, a price-to-earnings ratio of 13.05, a PEG ratio of 0.92 and a beta of 1.16. Ameriprise Financial, Inc. has a twelve month low of $422.37 and a twelve month high of $553.46. The company has a quick ratio of 0.66, a current ratio of 0.71 and a debt-to-equity ratio of 0.99.

Ameriprise Financial (NYSE:AMP) last issued its quarterly earnings results on Thursday, July 23rd. The financial services provider reported $11.07 earnings per share for the quarter, topping the consensus estimate of $10.81 by $0.26. Ameriprise Financial had a net margin of 20.24% and a return on equity of 64.19%. The company had revenue of $4.90 billion for the quarter, compared to the consensus estimate of $4.87 billion. During the same quarter in the prior year, the company earned $9.11 EPS. Ameriprise Financial’s quarterly revenue was up 11.6% on a year-over-year basis. Analysts anticipate that Ameriprise Financial, Inc. will post 45.84 earnings per share for the current fiscal year.

Ameriprise Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 21st. Shareholders of record on Monday, August 3rd will be paid a dividend of $1.70 per share. This represents a $6.80 annualized dividend and a yield of 1.3%. The ex-dividend date is Monday, August 3rd. Ameriprise Financial’s payout ratio is presently 16.40%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on AMP. Jefferies Financial Group increased their price objective on shares of Ameriprise Financial from $636.00 to $645.00 and gave the stock a “buy” rating in a research note on Friday, July 10th. Piper Sandler boosted their target price on shares of Ameriprise Financial from $471.00 to $518.00 and gave the company a “neutral” rating in a research report on Monday, July 13th. Morgan Stanley upped their price target on shares of Ameriprise Financial from $467.00 to $489.00 and gave the company an “underweight” rating in a report on Friday, July 10th. BMO Capital Markets increased their price target on Ameriprise Financial from $470.00 to $490.00 and gave the stock a “market perform” rating in a research report on Friday, April 24th. Finally, Keefe, Bruyette & Woods lifted their price objective on Ameriprise Financial from $515.00 to $545.00 and gave the company a “market perform” rating in a research note on Friday, July 24th. Two research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $555.33.

Institutional Investors Weigh In On Ameriprise Financial

Several hedge funds have recently bought and sold shares of the stock. PFG Investments LLC increased its holdings in shares of Ameriprise Financial by 1.4% during the 4th quarter. PFG Investments LLC now owns 1,488 shares of the financial services provider’s stock valued at $729,000 after purchasing an additional 21 shares in the last quarter. Institute for Wealth Management LLC. lifted its stake in shares of Ameriprise Financial by 3.6% in the 4th quarter. Institute for Wealth Management LLC. now owns 605 shares of the financial services provider’s stock valued at $297,000 after purchasing an additional 21 shares during the period. EPG Wealth Management LLC lifted its stake in shares of Ameriprise Financial by 0.8% in the 4th quarter. EPG Wealth Management LLC now owns 2,714 shares of the financial services provider’s stock valued at $1,331,000 after purchasing an additional 21 shares during the period. Essex Financial Services Inc. boosted its holdings in Ameriprise Financial by 2.4% during the fourth quarter. Essex Financial Services Inc. now owns 904 shares of the financial services provider’s stock worth $443,000 after buying an additional 21 shares in the last quarter. Finally, SouthState Bank Corp boosted its holdings in Ameriprise Financial by 78.6% during the fourth quarter. SouthState Bank Corp now owns 50 shares of the financial services provider’s stock worth $25,000 after buying an additional 22 shares in the last quarter. Hedge funds and other institutional investors own 83.95% of the company’s stock.

Ameriprise Financial Company Profile

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.