Key Points
- Director Robert Francis Sharpe, Jr. sold 1,500 shares of Ameriprise Financial at an average price of $450.94 on Nov. 21 for a total of $676,410, leaving him with 7,500 shares (a 16.67% decrease in his ownership).
- Ameriprise reported strong quarterly results with $9.92 EPS (beating the $9.76 estimate) and revenue of $4.73 billion (up 9% year-over-year), and it recently paid a $1.60 quarterly dividend ($6.40 annualized, ~1.4% yield).
- Analyst sentiment is mixed with a MarketBeat consensus of "Hold" and a $533.22 price target, while institutional investors own about 83.95% of the stock.
Ameriprise Financial, Inc. (NYSE:AMP - Get Free Report) Director Robert Francis Sharpe, Jr. sold 1,500 shares of the firm's stock in a transaction dated Friday, November 21st. The shares were sold at an average price of $450.94, for a total transaction of $676,410.00. Following the completion of the transaction, the director directly owned 7,500 shares in the company, valued at $3,382,050. This represents a 16.67% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link.
Ameriprise Financial Price Performance
Shares of Ameriprise Financial stock opened at $452.69 on Wednesday. The stock has a market capitalization of $42.06 billion, a P/E ratio of 14.09, a PEG ratio of 1.07 and a beta of 1.28. The business has a 50 day simple moving average of $473.72 and a two-hundred day simple moving average of $501.04. Ameriprise Financial, Inc. has a 12 month low of $396.14 and a 12 month high of $582.05. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.62 and a quick ratio of 0.62.
Ameriprise Financial (NYSE:AMP - Get Free Report) last issued its quarterly earnings results on Thursday, October 30th. The financial services provider reported $9.92 EPS for the quarter, topping 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 analysts' expectations of $4.51 billion. During the same period in the previous year, the business earned $9.02 earnings per share. The firm's revenue for the quarter was up 9.0% on a year-over-year basis. As a group, analysts predict that Ameriprise Financial, Inc. will post 38.64 EPS for the current fiscal year.
Ameriprise Financial Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Monday, November 24th. Stockholders of record on Monday, November 10th were given a $1.60 dividend. The ex-dividend date was Monday, November 10th. This represents a $6.40 dividend on an annualized basis and a dividend yield of 1.4%. Ameriprise Financial's dividend payout ratio is 17.55%.
Institutional Investors Weigh In On Ameriprise Financial
Institutional investors have recently modified their holdings of the company. Prana Capital Management LP purchased a new stake in shares of Ameriprise Financial in the 3rd quarter valued at $89,695,000. CIBC Bancorp USA Inc. acquired a new position in Ameriprise Financial in the 3rd quarter valued at about $6,406,000. Old North State Trust LLC increased its stake in Ameriprise Financial by 6.4% during the third quarter. Old North State Trust LLC now owns 3,041 shares of the financial services provider's stock worth $1,494,000 after purchasing an additional 182 shares during the period. Captrust Financial Advisors increased its stake in Ameriprise Financial by 5.6% during the third quarter. Captrust Financial Advisors now owns 185,851 shares of the financial services provider's stock worth $91,299,000 after purchasing an additional 9,841 shares during the period. Finally, Coldstream Capital Management Inc. lifted its position in shares of Ameriprise Financial by 6.0% during the third quarter. Coldstream Capital Management Inc. now owns 4,590 shares of the financial services provider's stock worth $2,255,000 after purchasing an additional 260 shares in the last quarter. 83.95% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of research firms have weighed in on AMP. Weiss Ratings reissued a "buy (b)" rating on shares of Ameriprise Financial in a research note on Wednesday, October 8th. Keefe, Bruyette & Woods reduced their target price on shares of Ameriprise Financial from $550.00 to $530.00 and set a "market perform" rating on the stock in a research note on Monday, November 3rd. BMO Capital Markets started coverage on shares of Ameriprise Financial in a report on Friday, October 3rd. They set a "market perform" rating and a $525.00 price target for the company. Royal Bank Of Canada decreased their price objective on Ameriprise Financial from $601.00 to $550.00 and set an "outperform" rating on the stock in a report on Monday, November 3rd. Finally, Morgan Stanley reduced their target price on Ameriprise Financial from $530.00 to $484.00 and set an "underweight" rating on the stock in a research report on Wednesday, October 1st. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $533.22.
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Ameriprise Financial Company Profile
(
Get Free Report)
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.
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