Ameriprise Financial, Inc. (NYSE:AMP) Short Interest Down 13.8% in March

Ameriprise Financial, Inc. (NYSE:AMP) saw a significant decline in short interest during the month of March. As of March 13th, there was short interest totaling 2,874,258 shares, a decline of 13.8% from the February 26th total of 3,333,123 shares. Based on an average trading volume of 600,651 shares, the days-to-cover ratio is currently 4.8 days. Approximately 3.2% of the company’s shares are sold short.

Insider Buying and Selling at Ameriprise Financial

In other news, insider Gumer Alvero sold 4,658 shares of Ameriprise Financial stock in a transaction that occurred on Monday, February 9th. The stock was sold at an average price of $542.88, for a total value of $2,528,735.04. Following the completion of the transaction, the insider owned 4,621 shares in the company, valued at approximately $2,508,648.48. The trade was a 50.20% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO William F. Truscott sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 10th. The shares were sold at an average price of $532.08, for a total value of $2,660,400.00. Following the transaction, the chief executive officer directly owned 12,149 shares in the company, valued at approximately $6,464,239.92. This represents a 29.16% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 16,658 shares of company stock worth $8,998,675 over the last ninety days. Company insiders own 0.73% of the company’s stock.

Institutional Trading of Ameriprise Financial

A number of large investors have recently modified their holdings of the company. Old North State Trust LLC increased its holdings in Ameriprise Financial by 7.6% during the 4th quarter. Old North State Trust LLC now owns 3,271 shares of the financial services provider’s stock worth $1,604,000 after purchasing an additional 230 shares during the period. Hsbc Holdings PLC lifted its holdings in shares of Ameriprise Financial by 3.7% in the 4th quarter. Hsbc Holdings PLC now owns 593,738 shares of the financial services provider’s stock worth $291,615,000 after buying an additional 21,017 shares during the period. Rockefeller Capital Management L.P. lifted its holdings in shares of Ameriprise Financial by 53.7% in the 4th quarter. Rockefeller Capital Management L.P. now owns 121,063 shares of the financial services provider’s stock worth $59,362,000 after buying an additional 42,290 shares during the period. World Investment Advisors grew its position in shares of Ameriprise Financial by 4.4% during the 4th quarter. World Investment Advisors now owns 3,721 shares of the financial services provider’s stock worth $1,824,000 after buying an additional 158 shares in the last quarter. Finally, Corient Private Wealth LLC increased its stake in shares of Ameriprise Financial by 5.9% during the fourth quarter. Corient Private Wealth LLC now owns 27,420 shares of the financial services provider’s stock valued at $13,447,000 after buying an additional 1,525 shares during the period. Hedge funds and other institutional investors own 83.95% of the company’s stock.

Ameriprise Financial Stock Performance

Shares of Ameriprise Financial stock opened at $437.03 on Thursday. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 0.86. The stock’s fifty day moving average is $474.82 and its two-hundred day moving average is $479.09. Ameriprise Financial has a 52 week low of $396.14 and a 52 week high of $550.18. The company has a market capitalization of $39.85 billion, a PE ratio of 12.02, a price-to-earnings-growth ratio of 1.03 and a beta of 1.27.

Ameriprise Financial (NYSE:AMP) last issued its earnings results on Thursday, January 29th. The financial services provider reported $10.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $10.33 by $0.50. The firm had revenue of $4.92 billion during the quarter, compared to analyst estimates of $4.75 billion. Ameriprise Financial had a net margin of 19.28% and a return on equity of 63.04%. The business’s revenue was up 10.2% on a year-over-year basis. During the same period in the previous year, the firm earned $9.54 earnings per share. As a group, analysts expect that Ameriprise Financial will post 38.64 earnings per share for the current year.

Ameriprise Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, February 27th. Stockholders of record on Monday, February 9th were given a dividend of $1.60 per share. The ex-dividend date of this dividend was Monday, February 9th. This represents a $6.40 dividend on an annualized basis and a dividend yield of 1.5%. Ameriprise Financial’s dividend payout ratio (DPR) is 17.60%.

Wall Street Analysts Forecast Growth

AMP has been the subject of several recent analyst reports. Jefferies Financial Group lifted their price objective on shares of Ameriprise Financial from $600.00 to $620.00 and gave the stock a “buy” rating in a research note on Monday, February 2nd. BMO Capital Markets reissued a “market perform” rating on shares of Ameriprise Financial in a research note on Tuesday, March 3rd. Weiss Ratings restated a “buy (b-)” rating on shares of Ameriprise Financial in a report on Monday, December 29th. Morgan Stanley lifted their price target on shares of Ameriprise Financial from $484.00 to $485.00 and gave the stock an “underweight” rating in a research note on Monday, December 22nd. Finally, Raymond James Financial set a $582.00 price target on shares of Ameriprise Financial and gave the company a “strong-buy” rating in a report on Wednesday, February 11th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $555.67.

Ameriprise Financial Company Profile

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.