Insider Selling: Ameriprise Financial, Inc. (NYSE:AMP) CEO Sells 6,000 Shares of Stock

Ameriprise Financial, Inc. (NYSE:AMP) CEO William F. Truscott sold 6,000 shares of the stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $540.29, for a total value of $3,241,740.00. Following the completion of the transaction, the chief executive officer now directly owns 14,023 shares in the company, valued at approximately $7,576,486.67. This trade represents a 29.97 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Ameriprise Financial Price Performance

Shares of AMP stock opened at $528.72 on Wednesday. Ameriprise Financial, Inc. has a fifty-two week low of $385.74 and a fifty-two week high of $582.05. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.65 and a current ratio of 0.59. The firm has a market capitalization of $51.29 billion, a price-to-earnings ratio of 15.99, a PEG ratio of 1.18 and a beta of 1.36. The stock’s 50-day simple moving average is $543.42 and its 200-day simple moving average is $503.37.

Ameriprise Financial (NYSE:AMP) last issued its quarterly earnings results on Wednesday, January 29th. The financial services provider reported $9.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $9.16 by $0.20. Ameriprise Financial had a net margin of 19.70% and a return on equity of 69.35%. As a group, equities analysts forecast that Ameriprise Financial, Inc. will post 38.55 earnings per share for the current fiscal year.

Ameriprise Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Monday, February 10th will be given a dividend of $1.48 per share. The ex-dividend date is Monday, February 10th. This represents a $5.92 dividend on an annualized basis and a yield of 1.12%. Ameriprise Financial’s dividend payout ratio is currently 17.91%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. UBS Group downgraded Ameriprise Financial from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $580.00 to $570.00 in a research report on Monday, January 6th. Royal Bank of Canada reiterated an “outperform” rating and set a $625.00 target price on shares of Ameriprise Financial in a report on Monday, February 3rd. Morgan Stanley boosted their price target on shares of Ameriprise Financial from $440.00 to $502.00 and gave the company an “equal weight” rating in a report on Thursday, October 17th. Keefe, Bruyette & Woods increased their price objective on shares of Ameriprise Financial from $560.00 to $570.00 and gave the company a “market perform” rating in a research note on Monday, February 3rd. Finally, Piper Sandler boosted their price objective on shares of Ameriprise Financial from $415.00 to $442.00 and gave the stock an “underweight” rating in a research note on Friday, January 31st. One analyst has rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $510.44.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of AMP. TCTC Holdings LLC acquired a new position in Ameriprise Financial in the 4th quarter worth approximately $26,000. Rialto Wealth Management LLC acquired a new stake in shares of Ameriprise Financial in the fourth quarter worth $28,000. Whipplewood Advisors LLC acquired a new position in Ameriprise Financial during the fourth quarter valued at $28,000. Wingate Wealth Advisors Inc. purchased a new stake in Ameriprise Financial in the fourth quarter valued at $30,000. Finally, Oakworth Capital Inc. purchased a new stake in Ameriprise Financial in the third quarter valued at $31,000. 83.95% of the stock is owned by institutional investors and hedge funds.

About Ameriprise Financial

Ameriprise Financial, Inc, together with its subsidiaries, provides various financial products and services to individual and institutional clients in the United States and internationally. It operates through four segments: Advice & Wealth Management, Asset Management, Retirement & Protection Solutions, and Corporate & Other.