Ameriprise Financial (NYSE:AMP) Trading Down 4.4% – Should You Sell?

Ameriprise Financial, Inc. (NYSE:AMP) dropped 4.4% on Tuesday . The company traded as low as $514.12 and last traded at $511.94. Approximately 127,757 shares changed hands during mid-day trading, a decline of 80% from the average daily volume of 639,325 shares. The stock had previously closed at $535.72.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Keefe, Bruyette & Woods boosted their target price on shares of Ameriprise Financial from $515.00 to $545.00 and gave the stock a “market perform” rating in a research report on Friday, July 24th. Weiss Ratings upgraded shares of Ameriprise Financial from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday, September 3rd. Morgan Stanley upped their price objective on shares of Ameriprise Financial from $467.00 to $489.00 and gave the company an “underweight” rating in a research report on Friday, July 10th. Piper Sandler lifted their target price on Ameriprise Financial from $471.00 to $518.00 and gave the stock a “neutral” rating in a research report on Monday, July 13th. Finally, Zacks Research raised Ameriprise Financial from a “hold” rating to a “strong-buy” rating in a report on Monday, July 27th. Two equities research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $555.33.

Ameriprise Financial Stock Down 4.4%

The firm has a market cap of $46.06 billion, a P/E ratio of 12.36, a PEG ratio of 0.98 and a beta of 1.14. The firm’s 50-day moving average price is $549.69 and its 200 day moving average price is $491.19. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.71 and a quick ratio of 0.71.

Ameriprise Financial (NYSE:AMP) last announced its quarterly earnings data on Thursday, July 23rd. The financial services provider reported $11.07 earnings per share for the quarter, beating the consensus estimate of $10.81 by $0.26. Ameriprise Financial had a return on equity of 64.19% and a net margin of 20.24%.The firm had revenue of $4.90 billion during the quarter, compared to analyst estimates of $4.87 billion. During the same period in the previous year, the company earned $9.11 earnings per share. Ameriprise Financial’s quarterly revenue was up 11.6% on a year-over-year basis. On average, equities research analysts expect that Ameriprise Financial, Inc. will post 46.27 earnings per share for the current fiscal year.

Ameriprise Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 21st. Stockholders of record on Monday, August 3rd were issued a $1.70 dividend. This represents a $6.80 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date was Monday, August 3rd. Ameriprise Financial’s payout ratio is 16.40%.

Insider Transactions at Ameriprise Financial

In other Ameriprise Financial news, insider William Williams sold 8,210 shares of the business’s stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $539.35, for a total transaction of $4,428,063.50. Following the completion of the sale, the insider owned 6,780 shares in the company, valued at $3,656,793. The trade was a 54.77% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Deirdre Mcgraw sold 2,400 shares of the stock in a transaction on Thursday, August 6th. The stock was sold at an average price of $558.28, for a total transaction of $1,339,872.00. Following the sale, the executive vice president directly owned 3,373 shares in the company, valued at $1,883,078.44. This trade represents a 41.57% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 29,988 shares of company stock valued at $16,316,497. 0.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Ameriprise Financial

Hedge funds and other institutional investors have recently modified their holdings of the company. Norges Bank bought a new position in shares of Ameriprise Financial in the fourth quarter valued at approximately $742,438,000. Bank of America Corp DE acquired a new position in shares of Ameriprise Financial in the second quarter worth about $320,948,000. Legal & General Group Plc acquired a new stake in Ameriprise Financial during the 2nd quarter worth about $262,687,000. Hsbc Holdings PLC acquired a new position in shares of Ameriprise Financial in the 2nd quarter valued at about $248,547,000. Finally, Man Group plc acquired a new stake in shares of Ameriprise Financial during the second quarter worth approximately $228,311,000. Institutional investors and hedge funds own 83.95% of the company’s stock.

Ameriprise Financial Company Profile

Ameriprise Financial, Inc (NYSE: AMP) is a diversified financial services company that provides financial planning, investment advice, wealth management and retirement solutions to individuals and institutions. Its offerings include brokerage and advisory accounts, managed investment portfolios, banking services, annuities, life insurance and other protection products.

The company serves clients primarily in the United States through its network of financial advisors and branded businesses, including Ameriprise Financial and RiverSource.