Ameriprise Financial (NYSE:AMP) CFO Sells $3,809,540.00 in Stock

Ameriprise Financial, Inc. (NYSE:AMP) CFO Walter Stanley Berman sold 7,000 shares of the stock in a transaction dated Thursday, February 5th. The stock was sold at an average price of $544.22, for a total transaction of $3,809,540.00. Following the sale, the chief financial officer owned 5,609 shares of the company’s stock, valued at $3,052,529.98. This trade represents a 55.52% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Ameriprise Financial Trading Down 3.9%

NYSE:AMP opened at $486.01 on Thursday. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.68 and a current ratio of 0.68. Ameriprise Financial, Inc. has a 1 year low of $396.14 and a 1 year high of $552.43. The stock has a fifty day moving average price of $502.58 and a two-hundred day moving average price of $491.68. The stock has a market capitalization of $45.16 billion, a price-to-earnings ratio of 13.37, a PEG ratio of 1.18 and a beta of 1.26.

Ameriprise Financial (NYSE:AMP) last released its quarterly earnings data on Thursday, January 29th. The financial services provider reported $10.83 EPS for the quarter, topping the consensus estimate of $10.33 by $0.50. The business had revenue of $4.90 billion for 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 for the quarter was up 10.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $9.54 EPS. As a group, sell-side analysts anticipate that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current fiscal year.

Ameriprise Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 27th. Investors of record on Monday, February 9th will be issued a $1.60 dividend. The ex-dividend date is Monday, February 9th. This represents a $6.40 annualized dividend and a yield of 1.3%. Ameriprise Financial’s dividend payout ratio (DPR) is presently 17.60%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on AMP. Argus reduced their target price on Ameriprise Financial from $568.00 to $554.00 and set a “buy” rating on the stock in a report on Thursday, November 13th. Jefferies Financial Group lifted their target price on Ameriprise Financial from $600.00 to $620.00 and gave the company a “buy” rating in a research note on Monday, February 2nd. Piper Sandler upgraded shares of Ameriprise Financial from an “underweight” rating to a “neutral” rating and increased their price objective for the company from $434.00 to $530.00 in a report on Friday, January 30th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $605.00 price objective (up previously from $580.00) on shares of Ameriprise Financial in a research note on Monday, February 2nd. Finally, Raymond James Financial set a $582.00 price target on Ameriprise Financial and gave the company a “strong-buy” rating in a research report on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Ameriprise Financial presently has an average rating of “Hold” and a consensus target price of $555.67.

Hedge Funds Weigh In On Ameriprise Financial

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of Ameriprise Financial in the 4th quarter valued at $742,438,000. JPMorgan Chase & Co. lifted its holdings in shares of Ameriprise Financial by 7.7% in the second quarter. JPMorgan Chase & Co. now owns 6,270,995 shares of the financial services provider’s stock valued at $3,347,019,000 after purchasing an additional 446,080 shares in the last quarter. M&T Bank Corp boosted its position in Ameriprise Financial by 1,440.2% during the 4th quarter. M&T Bank Corp now owns 466,151 shares of the financial services provider’s stock worth $228,572,000 after acquiring an additional 435,885 shares during the last quarter. Qube Research & Technologies Ltd increased its stake in Ameriprise Financial by 140.5% in the 3rd quarter. Qube Research & Technologies Ltd now owns 471,867 shares of the financial services provider’s stock valued at $231,805,000 after buying an additional 275,659 shares during the last quarter. Finally, Man Group plc boosted its position in Ameriprise Financial by 687.4% during the third quarter. Man Group plc now owns 276,822 shares of the financial services provider’s stock valued at $135,989,000 after purchasing an additional 241,665 shares during the last quarter. 83.95% of the stock is currently owned by institutional investors and hedge funds.

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.