Key Points
- Ameriprise Financial SVP Dawn Brockman sold 472 shares at an average price of $558.93, receiving approximately $263,815. After the sale, she retained 713 shares, reducing her ownership by 39.83%.
- Ameriprise’s latest quarterly results exceeded expectations, with EPS of $11.07 versus the $10.81 consensus and revenue of $4.90 billion. Revenue increased 11.6% year over year.
- The company declared a quarterly dividend of $1.70 per share, equivalent to $6.80 annually and a 1.2% yield. Analysts have a “Moderate Buy” consensus rating with an average price target of $555.33.
Ameriprise Financial, Inc. (NYSE:AMP - Get Free Report) SVP Dawn Brockman sold 472 shares of the stock in a transaction on Monday, August 10th. The shares were sold at an average price of $558.93, for a total value of $263,814.96. Following the completion of the transaction, the senior vice president owned 713 shares in the company, valued at $398,517.09. The trade was a 39.83% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.
Ameriprise Financial Trading Up 0.4%
AMP stock opened at $565.10 on Thursday. The company has a market cap of $50.80 billion, a P/E ratio of 13.63, a PEG ratio of 0.76 and a beta of 1.14. Ameriprise Financial, Inc. has a twelve month low of $422.37 and a twelve month high of $565.44. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.99. The business has a fifty day moving average of $502.44 and a 200-day moving average of $479.14.
Ameriprise Financial (NYSE:AMP - Get Free Report) last issued its quarterly earnings results on Thursday, July 23rd. The financial services provider reported $11.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $10.81 by $0.26. The business had revenue of $4.90 billion for the quarter, compared to analyst estimates of $4.87 billion. Ameriprise Financial had a return on equity of 64.19% and a net margin of 20.24%.The firm's revenue for the quarter was up 11.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $9.11 earnings per share. As a group, equities research analysts expect that Ameriprise Financial, Inc. will post 46.12 EPS for the current year.
Ameriprise Financial Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 21st. Shareholders of record on Monday, August 3rd will be issued a dividend of $1.70 per share. This represents a $6.80 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend is Monday, August 3rd. Ameriprise Financial's payout ratio is currently 16.40%.
Analyst Ratings Changes
AMP has been the topic of several recent research reports. Keefe, Bruyette & Woods raised their target price on shares of Ameriprise Financial from $515.00 to $545.00 and gave the company a "market perform" rating in a research note on Friday, July 24th. Morgan Stanley boosted their price target on shares of Ameriprise Financial from $467.00 to $489.00 and gave the stock an "underweight" rating in a research note on Friday, July 10th. BMO Capital Markets increased their price objective on shares of Ameriprise Financial from $470.00 to $490.00 and gave the company a "market perform" rating in a report on Friday, April 24th. Weiss Ratings raised shares of Ameriprise Financial from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Friday, July 17th. Finally, Jefferies Financial Group lifted their target price on shares of Ameriprise Financial from $636.00 to $645.00 and gave the stock a "buy" rating in a report on Friday, July 10th. Two analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Ameriprise Financial presently has an average rating of "Moderate Buy" and an average price target of $555.33.
View Our Latest Report on Ameriprise Financial
Hedge Funds Weigh In On Ameriprise Financial
Hedge funds have recently added to or reduced their stakes in the stock. State Street Corp increased its stake in shares of Ameriprise Financial by 0.4% in the 3rd quarter. State Street Corp now owns 4,420,072 shares of the financial services provider's stock valued at $2,171,360,000 after acquiring an additional 18,879 shares during the last quarter. Norges Bank acquired a new stake in shares of Ameriprise Financial in the 4th quarter valued at approximately $742,438,000. Boston Partners boosted its stake in Ameriprise Financial by 1.1% during the 3rd quarter. Boston Partners now owns 1,193,048 shares of the financial services provider's stock worth $586,083,000 after acquiring an additional 13,172 shares during the last quarter. AQR Capital Management LLC boosted its stake in Ameriprise Financial by 84.2% during the 4th quarter. AQR Capital Management LLC now owns 1,085,889 shares of the financial services provider's stock worth $532,455,000 after acquiring an additional 496,319 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in Ameriprise Financial by 2.0% during the first quarter. Dimensional Fund Advisors LP now owns 1,024,758 shares of the financial services provider's stock valued at $455,387,000 after purchasing an additional 19,731 shares during the period. Institutional investors and hedge funds 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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