Ameriprise Financial, Inc. (NYSE:AMP) Insider Sells $2,499,128.52 in Stock

Ameriprise Financial, Inc. (NYSE:AMP) insider Joseph Edward Sweeney sold 4,636 shares of the firm’s stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $539.07, for a total value of $2,499,128.52. Following the transaction, the insider now directly owns 7,237 shares of the company’s stock, valued at approximately $3,901,249.59. This trade represents a 39.05 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Ameriprise Financial Stock Performance

AMP stock opened at $530.18 on Monday. The company has a market cap of $51.43 billion, a P/E ratio of 16.04, a price-to-earnings-growth ratio of 1.17 and a beta of 1.36. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.59 and a quick ratio of 0.65. The stock’s fifty day moving average price is $540.50 and its 200-day moving average price is $511.27. Ameriprise Financial, Inc. has a 1 year low of $385.74 and a 1 year high of $582.05.

Ameriprise Financial (NYSE:AMP) last released its earnings results on Wednesday, January 29th. The financial services provider reported $9.36 earnings per share for the quarter, beating the consensus estimate of $9.16 by $0.20. Ameriprise Financial had a return on equity of 69.35% and a net margin of 19.70%. On average, equities analysts forecast that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current year.

Ameriprise Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Monday, February 10th will be given a dividend of $1.48 per share. The ex-dividend date is Monday, February 10th. This represents a $5.92 annualized dividend and a yield of 1.12%. Ameriprise Financial’s dividend payout ratio (DPR) is presently 17.91%.

Hedge Funds Weigh In On Ameriprise Financial

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Aberdeen Wealth Management LLC purchased a new position in shares of Ameriprise Financial in the fourth quarter valued at about $206,000. Forum Financial Management LP increased its holdings in shares of Ameriprise Financial by 1.4% in the fourth quarter. Forum Financial Management LP now owns 1,484 shares of the financial services provider’s stock worth $790,000 after purchasing an additional 21 shares during the last quarter. Sunbeam Capital Management LLC bought a new stake in shares of Ameriprise Financial in the fourth quarter worth about $31,000. Michels Family Financial LLC bought a new stake in shares of Ameriprise Financial in the fourth quarter worth about $599,000. Finally, Toronto Dominion Bank increased its stake in Ameriprise Financial by 51.9% during the fourth quarter. Toronto Dominion Bank now owns 55,778 shares of the financial services provider’s stock worth $29,696,000 after acquiring an additional 19,048 shares during the last quarter. 83.95% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms recently weighed in on AMP. UBS Group lowered Ameriprise Financial from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $580.00 to $570.00 in a research report on Monday, January 6th. Keefe, Bruyette & Woods lifted their target price on Ameriprise Financial from $560.00 to $570.00 and gave the stock a “market perform” rating in a report on Monday, February 3rd. Piper Sandler lifted their target price on Ameriprise Financial from $415.00 to $442.00 and gave the stock an “underweight” rating in a report on Friday, January 31st. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $625.00 price target on shares of Ameriprise Financial in a research note on Monday, February 3rd. One analyst has rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, Ameriprise Financial presently has an average rating of “Hold” and an average target price of $510.44.

Ameriprise Financial Company Profile

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.