Ameriprise Financial (NYSE:AMP) Stock Price Down 4.3%

Ameriprise Financial, Inc. (NYSE:AMP) shares traded down 4.3% on Tuesday . The company traded as low as $403.31 and last traded at $403.31. 168,396 shares traded hands during mid-day trading, a decline of 66% from the average session volume of 489,164 shares. The stock had previously closed at $421.38.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Morgan Stanley upped their price objective on Ameriprise Financial from $400.00 to $437.00 and gave the company an “equal weight” rating in a report on Tuesday, April 9th. Piper Sandler lifted their target price on Ameriprise Financial from $360.00 to $392.00 and gave the company an “underweight” rating in a research note on Friday, April 5th. UBS Group increased their price target on shares of Ameriprise Financial from $440.00 to $445.00 and gave the stock a “buy” rating in a research report on Thursday, January 25th. Evercore ISI upped their price objective on shares of Ameriprise Financial from $400.00 to $445.00 and gave the company an “in-line” rating in a research note on Thursday, April 11th. Finally, Keefe, Bruyette & Woods lifted their target price on shares of Ameriprise Financial from $420.00 to $460.00 and gave the company a “market perform” rating in a research note on Wednesday, April 10th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, Ameriprise Financial has an average rating of “Hold” and a consensus target price of $441.00.

Ameriprise Financial Stock Performance

The firm has a fifty day simple moving average of $417.37 and a 200 day simple moving average of $379.18. The company has a debt-to-equity ratio of 1.17, a current ratio of 0.56 and a quick ratio of 0.56. The company has a market cap of $40.97 billion, a price-to-earnings ratio of 17.77, a P/E/G ratio of 0.69 and a beta of 1.36.

Ameriprise Financial (NYSE:AMP) last issued its quarterly earnings results on Tuesday, April 23rd. The financial services provider reported $8.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $8.10 by $0.29. Ameriprise Financial had a return on equity of 77.39% and a net margin of 16.27%. The company had revenue of $4.15 billion for the quarter, compared to the consensus estimate of $4.15 billion. During the same period last year, the business posted $7.25 earnings per share. The firm’s revenue was up 10.8% compared to the same quarter last year. On average, sell-side analysts expect that Ameriprise Financial, Inc. will post 34.43 earnings per share for the current fiscal year.

Ameriprise Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 17th. Stockholders of record on Monday, May 6th will be given a $1.48 dividend. This represents a $5.92 annualized dividend and a dividend yield of 1.45%. This is a boost from Ameriprise Financial’s previous quarterly dividend of $1.35. Ameriprise Financial’s dividend payout ratio is currently 22.78%.

Insider Buying and Selling

In other Ameriprise Financial news, Director Robert Francis Sharpe, Jr. sold 4,000 shares of the firm’s stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $386.60, for a total value of $1,546,400.00. Following the sale, the director now directly owns 12,500 shares in the company, valued at approximately $4,832,500. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Robert Francis Sharpe, Jr. sold 4,000 shares of Ameriprise Financial stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $386.60, for a total transaction of $1,546,400.00. Following the sale, the director now owns 12,500 shares of the company’s stock, valued at approximately $4,832,500. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Gumer Alvero sold 1,652 shares of the company’s stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $437.00, for a total value of $721,924.00. Following the completion of the transaction, the insider now owns 6,994 shares of the company’s stock, valued at $3,056,378. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 89,161 shares of company stock valued at $35,560,647. 0.96% of the stock is owned by company insiders.

Institutional Trading of Ameriprise Financial

A number of large investors have recently bought and sold shares of AMP. Redmont Wealth Advisors LLC bought a new stake in shares of Ameriprise Financial in the 1st quarter worth about $28,000. Annapolis Financial Services LLC grew its stake in Ameriprise Financial by 928.6% during the first quarter. Annapolis Financial Services LLC now owns 72 shares of the financial services provider’s stock worth $32,000 after buying an additional 65 shares during the last quarter. Sound Income Strategies LLC acquired a new position in Ameriprise Financial in the first quarter worth $32,000. OFI Invest Asset Management acquired a new stake in shares of Ameriprise Financial in the third quarter valued at $25,000. Finally, Turtle Creek Wealth Advisors LLC bought a new stake in Ameriprise Financial during the 4th quarter worth about $34,000. 83.95% of the stock is currently owned by institutional investors.

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.