William Jerryl Williams Sells 7,894 Shares of Ameriprise Financial (NYSE:AMP) Stock

Ameriprise Financial, Inc. (NYSE:AMP) insider William Jerryl Williams sold 7,894 shares of the stock in a transaction dated Monday, July 27th. The shares were sold at an average price of $537.08, for a total value of $4,239,709.52. Following the completion of the sale, the insider owned 10,882 shares of the company’s stock, valued at approximately $5,844,504.56. This trade represents a 42.04% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

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

• On Tuesday, July 28th, William Jerryl Williams sold 8,210 shares of Ameriprise Financial stock. The stock was sold at an average price of $539.35, for a total value of $4,428,063.50.

Ameriprise Financial Stock Down 1.0%

NYSE AMP traded down $5.53 on Wednesday, reaching $541.09. The company had a trading volume of 444,717 shares, compared to its average volume of 687,189. The firm has a market capitalization of $48.64 billion, a PE ratio of 13.05, a P/E/G ratio of 0.92 and a beta of 1.16. Ameriprise Financial, Inc. has a 1 year low of $422.37 and a 1 year high of $553.46. The firm has a 50-day moving average of $479.17 and a 200-day moving average of $475.33. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.71 and a quick ratio of 0.66.

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

Ameriprise Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 21st. Investors of record on Monday, August 3rd will be issued a dividend of $1.70 per share. This represents a $6.80 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend is Monday, August 3rd. Ameriprise Financial’s dividend payout ratio (DPR) is presently 16.40%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on AMP shares. Zacks Research upgraded shares of Ameriprise Financial from a “hold” rating to a “strong-buy” rating in a report on Monday. Morgan Stanley lifted their target price on Ameriprise Financial from $467.00 to $489.00 and gave the stock an “underweight” rating in a research report on Friday, July 10th. Keefe, Bruyette & Woods boosted their price target on Ameriprise Financial from $515.00 to $545.00 and gave the stock a “market perform” rating in a research note on Friday, July 24th. Piper Sandler increased their price target on Ameriprise Financial from $471.00 to $518.00 and gave the company a “neutral” rating in a report on Monday, July 13th. Finally, Jefferies Financial Group raised their price objective on Ameriprise Financial from $636.00 to $645.00 and gave the company a “buy” rating in a research note on Friday, July 10th. Two research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Ameriprise Financial currently has a consensus rating of “Moderate Buy” and a consensus price target of $555.33.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Wedge Capital Management L L P NC increased its position in shares of Ameriprise Financial by 14.4% in the 2nd quarter. Wedge Capital Management L L P NC now owns 73,833 shares of the financial services provider’s stock worth $33,872,000 after purchasing an additional 9,307 shares during the last quarter. Accel Wealth Management lifted its position in shares of Ameriprise Financial by 8.8% during the second quarter. Accel Wealth Management now owns 1,574 shares of the financial services provider’s stock worth $722,000 after purchasing an additional 127 shares during the last quarter. Tema ETFs LLC lifted its position in shares of Ameriprise Financial by 9.8% during the second quarter. Tema ETFs LLC now owns 1,623 shares of the financial services provider’s stock worth $745,000 after purchasing an additional 145 shares during the last quarter. Fiduciary Financial Group LLC acquired a new position in Ameriprise Financial in the second quarter worth about $232,000. Finally, Generali Investments Management Co LLC grew its stake in Ameriprise Financial by 134.8% in the second quarter. Generali Investments Management Co LLC now owns 425 shares of the financial services provider’s stock worth $195,000 after purchasing an additional 244 shares in the last quarter. 83.95% of the stock is currently owned by institutional investors.

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.