Key Points
- Ameriprise EVP Gerard Smyth sold 6,255 shares on May 14 at an average price of $472.52, totaling about $2.96 million. After the sale, Smyth still held 6,103 shares, cutting his position by about 50.6%.
- The company reported stronger-than-expected quarterly earnings, posting $11.26 per share versus the $10.21 consensus estimate, even though revenue of $4.77 billion came in slightly below forecasts. Revenue still rose 9.7% year over year.
- Ameriprise raised its quarterly dividend to $1.70 per share from $1.60, for an annualized payout of $6.80 and a yield of 1.4%. The stock also remains broadly viewed as a “Hold” by analysts, with a consensus target price of $543.22.
Ameriprise Financial, Inc. (NYSE:AMP - Get Free Report) EVP Gerard Smyth sold 6,255 shares of the firm's stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $472.52, for a total transaction of $2,955,612.60. Following the completion of the sale, the executive vice president owned 6,103 shares of the company's stock, valued at $2,883,789.56. The trade was a 50.61% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link.
Ameriprise Financial Trading Up 0.2%
AMP opened at $471.26 on Tuesday. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 0.90. The stock has a market capitalization of $42.37 billion, a PE ratio of 11.72, a PEG ratio of 1.11 and a beta of 1.20. Ameriprise Financial, Inc. has a 1-year low of $422.37 and a 1-year high of $550.18. The firm has a 50-day moving average price of $454.49 and a two-hundred day moving average price of $473.50.
Ameriprise Financial (NYSE:AMP - Get Free Report) last posted its quarterly earnings data on Thursday, April 23rd. The financial services provider reported $11.26 earnings per share for the quarter, beating the consensus estimate of $10.21 by $1.05. The firm had revenue of $4.77 billion during the quarter, compared to analysts' expectations of $4.82 billion. Ameriprise Financial had a net margin of 20.57% and a return on equity of 62.88%. The company's quarterly revenue was up 9.7% compared to the same quarter last year. During the same quarter last year, the company posted $9.50 EPS. As a group, equities analysts anticipate that Ameriprise Financial, Inc. will post 42.63 earnings per share for the current fiscal year.
Ameriprise Financial Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 22nd. Shareholders of record on Monday, May 4th will be given a $1.70 dividend. This represents a $6.80 annualized dividend and a yield of 1.4%. The ex-dividend date is Monday, May 4th. This is a boost from Ameriprise Financial's previous quarterly dividend of $1.60. Ameriprise Financial's dividend payout ratio is 16.91%.
Analyst Upgrades and Downgrades
AMP has been the topic of several recent research reports. Raymond James Financial set a $582.00 target price on shares of Ameriprise Financial and gave the company a "strong-buy" rating in a research note on Wednesday, February 11th. Piper Sandler raised their target price on shares of Ameriprise Financial from $460.00 to $471.00 and gave the company a "neutral" rating in a research note on Monday, May 4th. Morgan Stanley raised their target price on shares of Ameriprise Financial from $452.00 to $467.00 and gave the company an "underweight" rating in a research note on Thursday, April 30th. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $605.00 target price (up from $580.00) on shares of Ameriprise Financial in a research note on Monday, February 2nd. Finally, Jefferies Financial Group raised their target price on shares of Ameriprise Financial from $600.00 to $620.00 and gave the company a "buy" rating in a research note on Monday, February 2nd. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $543.22.
Get Our Latest Stock Analysis on AMP
Institutional Inflows and Outflows
Hedge funds have recently modified their holdings of the business. PFG Investments LLC grew its holdings in Ameriprise Financial by 1.4% during the fourth quarter. PFG Investments LLC now owns 1,488 shares of the financial services provider's stock valued at $729,000 after purchasing an additional 21 shares during the period. Institute for Wealth Management LLC. grew its holdings in Ameriprise Financial by 3.6% during the fourth quarter. Institute for Wealth Management LLC. now owns 605 shares of the financial services provider's stock valued at $297,000 after purchasing an additional 21 shares during the period. EPG Wealth Management LLC grew its holdings in Ameriprise Financial by 0.8% during the fourth quarter. EPG Wealth Management LLC now owns 2,714 shares of the financial services provider's stock valued at $1,331,000 after purchasing an additional 21 shares during the period. Essex Financial Services Inc. grew its holdings in Ameriprise Financial by 2.4% during the fourth quarter. Essex Financial Services Inc. now owns 904 shares of the financial services provider's stock valued at $443,000 after purchasing an additional 21 shares during the period. Finally, SouthState Bank Corp grew its holdings in Ameriprise Financial by 78.6% during the fourth quarter. SouthState Bank Corp now owns 50 shares of the financial services provider's stock valued at $25,000 after purchasing an additional 22 shares during the period. Institutional investors own 83.95% of the company's stock.
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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