Key Points
- Insider sale: Gumer Alvero sold 4,658 shares at an average price of $542.88 on Feb. 9 for about $2.53M, cutting their position by 50.2% to 4,621 shares, according to the SEC filing.
- Quarterly beat: Ameriprise reported EPS of $10.83 vs. $10.33 expected and revenue of $4.90B vs. $4.75B, with revenue up 10.2% year-over-year, a net margin of ~19.3% and ROE of 63.0%.
- Dividend and analyst view: The company declared a $1.60 quarterly dividend (ex-dividend Feb. 9, annualized $6.40, yield ~1.3%), while analysts show a mixed outlook with a consensus "Hold" and a $555.67 target price.
Ameriprise Financial, Inc. (NYSE:AMP - Get Free Report) insider Gumer Alvero sold 4,658 shares of the firm's stock in a transaction dated Monday, February 9th. The stock was sold at an average price of $542.88, for a total transaction of $2,528,735.04. Following the sale, the insider owned 4,621 shares of the company's stock, valued at approximately $2,508,648.48. This represents a 50.20% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link.
Ameriprise Financial Stock Down 3.9%
Shares of AMP opened at $486.01 on Thursday. The firm has a market cap of $45.15 billion, a P/E ratio of 13.37, a price-to-earnings-growth ratio of 1.18 and a beta of 1.26. 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 52 week low of $396.14 and a 52 week high of $552.43. The firm's 50-day simple moving average is $502.58 and its 200 day simple moving average is $491.68.
Ameriprise Financial (NYSE:AMP - Get Free Report) last issued its quarterly earnings data on Thursday, January 29th. The financial services provider reported $10.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $10.33 by $0.50. Ameriprise Financial had a net margin of 19.28% and a return on equity of 63.04%. The firm had revenue of $4.90 billion during the quarter, compared to the consensus estimate of $4.75 billion. During the same period last year, the business posted $9.54 earnings per share. The business's revenue for the quarter was up 10.2% compared to the same quarter last year. On average, analysts forecast that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current year.
Ameriprise Financial Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Friday, February 27th. Investors of record on Monday, February 9th will be paid 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 payout ratio is 17.60%.
Analysts Set New Price Targets
A number of equities research analysts have recently weighed in on AMP shares. Royal Bank Of Canada reissued an "outperform" rating and set a $605.00 target price (up previously from $580.00) on shares of Ameriprise Financial in a report on Monday, February 2nd. Keefe, Bruyette & Woods decreased their price objective 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. Argus lowered their price objective on shares of Ameriprise Financial from $568.00 to $554.00 and set a "buy" rating for the company in a research note on Thursday, November 13th. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Ameriprise Financial in a research note on Monday, December 29th. Finally, Piper Sandler upgraded shares of Ameriprise Financial from an "underweight" rating to a "neutral" rating and lifted their price objective for the company from $434.00 to $530.00 in a report on Friday, January 30th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $555.67.
Check Out Our Latest Research Report on Ameriprise Financial
Institutional Investors Weigh In On Ameriprise Financial
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Brighton Jones LLC grew its holdings in Ameriprise Financial by 6.9% in the 4th quarter. Brighton Jones LLC now owns 777 shares of the financial services provider's stock worth $413,000 after acquiring an additional 50 shares during the last quarter. Empowered Funds LLC grew its position in shares of Ameriprise Financial by 11.8% in the 1st quarter. Empowered Funds LLC now owns 6,022 shares of the financial services provider's stock worth $2,915,000 after buying an additional 634 shares during the period. Sivia Capital Partners LLC increased its stake in shares of Ameriprise Financial by 14.1% during the second quarter. Sivia Capital Partners LLC now owns 584 shares of the financial services provider's stock valued at $312,000 after purchasing an additional 72 shares in the last quarter. Concurrent Investment Advisors LLC raised its stake in Ameriprise Financial by 93.9% during the second quarter. Concurrent Investment Advisors LLC now owns 1,295 shares of the financial services provider's stock valued at $691,000 after buying an additional 627 shares during the last quarter. Finally, Atria Wealth Solutions Inc. raised its position in shares of Ameriprise Financial by 10.4% in the 2nd quarter. Atria Wealth Solutions Inc. now owns 3,523 shares of the financial services provider's stock worth $1,880,000 after purchasing an additional 332 shares during the last quarter. 83.95% of the stock is owned by hedge funds and other institutional investors.
Ameriprise Financial Company Profile
(
Get Free Report)
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.
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