Ameriprise Financial (NYSE:AMP) Director Robert Francis Sharpe, Jr. Sells 1,500 Shares

Ameriprise Financial, Inc. (NYSE:AMP) Director Robert Francis Sharpe, Jr. sold 1,500 shares of the business’s stock in a transaction dated Friday, November 21st. The stock was sold at an average price of $450.94, for a total transaction of $676,410.00. Following the completion of the sale, the director directly owned 7,500 shares of the company’s stock, valued at $3,382,050. The trade was a 16.67% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Ameriprise Financial Stock Up 1.5%

Shares of Ameriprise Financial stock traded up $6.64 during trading on Tuesday, reaching $452.69. The company had a trading volume of 450,607 shares, compared to its average volume of 524,901. The company has a market cap of $42.06 billion, a price-to-earnings ratio of 14.09, a price-to-earnings-growth ratio of 1.07 and a beta of 1.28. Ameriprise Financial, Inc. has a fifty-two week low of $396.14 and a fifty-two week high of $582.05. The firm’s fifty day moving average is $474.38 and its 200-day moving average is $501.32. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.62 and a current ratio of 0.62.

Ameriprise Financial (NYSE:AMP) last announced its quarterly earnings data on Thursday, October 30th. The financial services provider reported $9.92 earnings per share for the quarter, beating the consensus estimate of $9.76 by $0.16. Ameriprise Financial had a return on equity of 65.90% and a net margin of 18.30%.The firm had revenue of $4.73 billion during the quarter, compared to analyst estimates of $4.51 billion. During the same period in the previous year, the company earned $9.02 earnings per share. Ameriprise Financial’s quarterly revenue was up 9.0% on a year-over-year basis. On average, analysts anticipate that Ameriprise Financial, Inc. will post 38.64 EPS for the current year.

Ameriprise Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, November 24th. Investors of record on Monday, November 10th were given a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a dividend yield of 1.4%. The ex-dividend date of this dividend was Monday, November 10th. Ameriprise Financial’s dividend payout ratio is currently 17.55%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Whipplewood Advisors LLC lifted its position in Ameriprise Financial by 71.0% in the second quarter. Whipplewood Advisors LLC now owns 53 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 22 shares during the period. Salomon & Ludwin LLC increased its position in shares of Ameriprise Financial by 115.4% during the 2nd 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 during the period. TD Capital Management LLC raised its stake in shares of Ameriprise Financial by 566.7% in the 1st quarter. TD Capital Management LLC now owns 60 shares of the financial services provider’s stock worth $29,000 after buying an additional 51 shares in the last quarter. Wealth Preservation Advisors LLC acquired a new stake in shares of Ameriprise Financial in the first quarter valued at $29,000. Finally, Winnow Wealth LLC acquired a new stake in shares of Ameriprise Financial in the second quarter valued at $32,000. Institutional investors and hedge funds own 83.95% of the company’s stock.

Analyst Ratings Changes

AMP has been the subject of a number of research reports. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Ameriprise Financial in a report on Wednesday, October 8th. Morgan Stanley dropped their price objective on shares of Ameriprise Financial from $530.00 to $484.00 and set an “underweight” rating on the stock in a research note on Wednesday, October 1st. BMO Capital Markets assumed coverage on shares of Ameriprise Financial in a report on Friday, October 3rd. They issued a “market perform” rating and a $525.00 target price on the stock. Argus decreased their target price on Ameriprise Financial from $568.00 to $554.00 and set a “buy” rating for the company in a research note on Thursday, November 13th. Finally, Evercore ISI lowered their target price on Ameriprise Financial from $587.00 to $570.00 and set an “in-line” rating for the company in a report on Thursday, October 9th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, five have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $533.22.

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.