Key Points
- Ameriprise Financial EVP Deirdre Davey Mcgraw sold 2,400 shares at an average price of $558.28, generating approximately $1.34 million. Her remaining direct stake fell 41.57% to 3,373 shares.
- Ameriprise reported quarterly EPS of $11.07, exceeding estimates of $10.81, while revenue rose 11.6% year over year to $4.90 billion.
- The company declared a quarterly dividend of $1.70 per share, equivalent to $6.80 annually and a 1.2% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $555.33.
Ameriprise Financial, Inc. (NYSE:AMP - Get Free Report) EVP Deirdre Davey Mcgraw sold 2,400 shares of the firm's stock in a transaction on Thursday, August 6th. The stock was sold at an average price of $558.28, for a total transaction of $1,339,872.00. Following the completion of the transaction, the executive vice president directly owned 3,373 shares of the company's stock, valued at approximately $1,883,078.44. This represents a 41.57% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.
Ameriprise Financial Price Performance
Shares of AMP opened at $557.14 on Tuesday. The firm has a market capitalization of $50.09 billion, a PE ratio of 13.44, a price-to-earnings-growth ratio of 0.74 and a beta of 1.14. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.71 and a quick ratio of 0.71. Ameriprise Financial, Inc. has a 1-year low of $422.37 and a 1-year high of $565.05. The company's fifty day moving average price is $497.62 and its 200-day moving average price is $478.31.
Ameriprise Financial (NYSE:AMP - Get Free Report) last issued its earnings results on Thursday, July 23rd. The financial services provider reported $11.07 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $10.81 by $0.26. Ameriprise Financial had a return on equity of 64.19% and a net margin of 20.24%.The company had revenue of $4.90 billion during the quarter, compared to analyst estimates of $4.87 billion. During the same quarter last year, the business posted $9.11 EPS. The firm's quarterly revenue was up 11.6% on a year-over-year basis. On average, equities research analysts predict that Ameriprise Financial, Inc. will post 46.12 EPS for the current year.
Ameriprise Financial Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 21st. Stockholders of record on Monday, August 3rd will be issued a $1.70 dividend. The ex-dividend date of this dividend is Monday, August 3rd. This represents a $6.80 dividend on an annualized basis and a dividend yield of 1.2%. Ameriprise Financial's dividend payout ratio is currently 16.40%.
Analysts Set New Price Targets
AMP has been the subject of a number of research reports. BMO Capital Markets lifted their target price on Ameriprise Financial from $470.00 to $490.00 and gave the stock a "market perform" rating in a report on Friday, April 24th. Weiss Ratings upgraded shares of Ameriprise Financial from a "hold (c+)" rating to a "buy (b-)" rating in a report on Friday, July 17th. Keefe, Bruyette & Woods raised their price target on shares of Ameriprise Financial from $515.00 to $545.00 and gave the stock a "market perform" rating in a research report on Friday, July 24th. Zacks Research upgraded shares of Ameriprise Financial from a "hold" rating to a "strong-buy" rating in a research note on Monday, July 27th. Finally, Morgan Stanley lifted their price objective on shares of Ameriprise Financial from $467.00 to $489.00 and gave the company an "underweight" rating in a research note on Friday, July 10th. Two research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, Ameriprise Financial has an average rating of "Moderate Buy" and an average target price of $555.33.
Get Our Latest Analysis on Ameriprise Financial
Institutional Investors Weigh In On Ameriprise Financial
Several hedge funds have recently bought and sold shares of AMP. SouthState Bank Corp grew its stake in shares of Ameriprise Financial by 78.6% during the 4th quarter. SouthState Bank Corp now owns 50 shares of the financial services provider's stock worth $25,000 after purchasing an additional 22 shares during the period. Cassaday & Co Wealth Management LLC acquired a new position in shares of Ameriprise Financial in the 1st quarter valued at $28,000. University of Texas Texas AM Investment Management Co. acquired a new position in shares of Ameriprise Financial in the 2nd quarter valued at $28,000. Ares Financial Consulting LLC purchased a new stake in Ameriprise Financial during the fourth quarter worth $32,000. Finally, Prosperity Bancshares Inc purchased a new stake in Ameriprise Financial during the fourth quarter worth $33,000. Hedge funds and other institutional investors own 83.95% of the company's stock.
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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