Key Points
- Ameriprise Financial director Robert Francis Sharpe, Jr. sold 1,200 shares on May 8 at an average price of $465.83, totaling about $559,000. After the sale, he still owned 6,300 shares, a 16% reduction in his stake.
- The company reported strong quarterly earnings on April 23, beating EPS expectations with $11.26 per share versus $10.21 expected. Revenue rose 9.7% year over year to $4.77 billion, though it came in slightly below estimates.
- Ameriprise raised its quarterly dividend to $1.70 per share from $1.60, implying an annualized payout of $6.80 and a 1.4% yield. The company also continues to draw heavy institutional ownership, with 83.95% of shares held by institutions.
Ameriprise Financial, Inc. (NYSE:AMP - Get Free Report) Director Robert Francis Sharpe, Jr. sold 1,200 shares of the business's stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $465.83, for a total transaction of $558,996.00. Following the completion of the transaction, the director directly owned 6,300 shares in the company, valued at $2,934,729. This trade represents a 16.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.
Ameriprise Financial Price Performance
Shares of NYSE:AMP opened at $470.70 on Wednesday. The company's 50-day moving average is $454.46 and its 200 day moving average is $473.81. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.66 and a current ratio of 0.66. The company has a market capitalization of $42.32 billion, a P/E ratio of 11.71, a price-to-earnings-growth ratio of 1.10 and a beta of 1.20. Ameriprise Financial, Inc. has a fifty-two week low of $422.37 and a fifty-two week high of $550.18.
Ameriprise Financial (NYSE:AMP - Get Free Report) last issued its quarterly earnings results on Thursday, April 23rd. The financial services provider reported $11.26 earnings per share for the quarter, topping analysts' consensus estimates of $10.21 by $1.05. Ameriprise Financial had a net margin of 20.57% and a return on equity of 62.88%. The company had revenue of $4.77 billion for the quarter, compared to the consensus estimate of $4.82 billion. During the same period in the previous year, the firm earned $9.50 EPS. The firm's quarterly revenue was up 9.7% on a year-over-year basis. On average, equities research analysts forecast that Ameriprise Financial, Inc. will post 42.44 earnings per share for the current year.
Ameriprise Financial Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 22nd. Investors of record on Monday, May 4th will be paid a $1.70 dividend. The ex-dividend date is Monday, May 4th. This represents a $6.80 dividend on an annualized basis and a yield of 1.4%. This is an increase from Ameriprise Financial's previous quarterly dividend of $1.60. Ameriprise Financial's dividend payout ratio (DPR) is presently 16.91%.
Wall Street Analyst Weigh In
A number of equities research analysts recently issued reports on AMP shares. Raymond James Financial set a $582.00 price objective on Ameriprise Financial and gave the company a "strong-buy" rating in a research note on Wednesday, February 11th. Morgan Stanley boosted their price objective on Ameriprise Financial from $452.00 to $467.00 and gave the company an "underweight" rating in a research note on Thursday, April 30th. BMO Capital Markets boosted their price objective on Ameriprise Financial from $470.00 to $490.00 and gave the company a "market perform" rating in a research note on Friday, April 24th. Keefe, Bruyette & Woods started coverage on Ameriprise Financial in a research note on Friday, April 10th. They issued a "hold" rating on the stock. Finally, Jefferies Financial Group boosted their price objective on Ameriprise Financial from $600.00 to $620.00 and gave the company a "buy" rating in a research note on Monday, February 2nd. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $543.22.
View Our Latest Research Report on AMP
Institutional Investors Weigh In On Ameriprise Financial
Several hedge funds and other institutional investors have recently modified their holdings of the stock. State Street Corp increased its position in shares of Ameriprise Financial by 0.4% during the third quarter. State Street Corp now owns 4,420,072 shares of the financial services provider's stock valued at $2,171,360,000 after buying an additional 18,879 shares during the period. Norges Bank bought a new stake in shares of Ameriprise Financial during the fourth quarter valued at about $742,438,000. Boston Partners increased its position in shares of Ameriprise Financial by 1.1% during the third quarter. Boston Partners now owns 1,193,048 shares of the financial services provider's stock valued at $586,083,000 after buying an additional 13,172 shares during the period. AQR Capital Management LLC increased its position in shares of Ameriprise Financial by 84.2% during the fourth quarter. AQR Capital Management LLC now owns 1,085,889 shares of the financial services provider's stock valued at $532,455,000 after buying an additional 496,319 shares during the period. Finally, Dimensional Fund Advisors LP increased its position in shares of Ameriprise Financial by 2.0% in the first quarter. Dimensional Fund Advisors LP now owns 1,024,758 shares of the financial services provider's stock worth $455,387,000 after purchasing an additional 19,731 shares during the last quarter. 83.95% of the stock is currently owned by institutional investors.
About Ameriprise Financial
(
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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