Ameriprise Financial, Inc. (NYSE:AMP) Sees Significant Decrease in Short Interest

Ameriprise Financial, Inc. (NYSE:AMP) saw a large decline in short interest in the month of January. As of January 31st, there was short interest totalling 1,060,000 shares, a decline of 6.2% from the January 15th total of 1,130,000 shares. Currently, 1.1% of the company’s shares are sold short. Based on an average daily trading volume, of 501,800 shares, the short-interest ratio is currently 2.1 days.

Insider Buying and Selling at Ameriprise Financial

In other news, Director Robert Francis Sharpe, Jr. sold 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 12th. The shares were sold at an average price of $523.12, for a total value of $523,120.00. Following the completion of the sale, the director now owns 10,000 shares of the company’s stock, valued at approximately $5,231,200. This represents a 9.09 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO William F. Truscott sold 6,000 shares of the company’s stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $540.29, for a total transaction of $3,241,740.00. Following the completion of the sale, the chief executive officer now directly owns 14,023 shares of the company’s stock, valued at $7,576,486.67. The trade was a 29.97 % decrease in their position. The disclosure for this sale can be found here. 0.73% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. TCTC Holdings LLC acquired a new stake in shares of Ameriprise Financial in the fourth quarter worth $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 stake in shares of Ameriprise Financial in the fourth quarter worth $28,000. Wingate Wealth Advisors Inc. acquired a new stake in shares of Ameriprise Financial in the fourth quarter worth $30,000. Finally, Oakworth Capital Inc. acquired a new stake in shares of Ameriprise Financial in the third quarter worth $31,000. Institutional investors and hedge funds own 83.95% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. Keefe, Bruyette & Woods upped their price target on shares of Ameriprise Financial from $560.00 to $570.00 and gave the stock a “market perform” rating in a research report on Monday, February 3rd. Piper Sandler upped their price target on shares of Ameriprise Financial from $415.00 to $442.00 and gave the stock an “underweight” rating in a research report on Friday, January 31st. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $625.00 price target on shares of Ameriprise Financial in a research report on Monday, February 3rd. Finally, UBS Group lowered shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $580.00 to $570.00 in a research note on Monday, January 6th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $510.44.

Ameriprise Financial Trading Up 1.3 %

Shares of Ameriprise Financial stock opened at $546.69 on Tuesday. The company has a current ratio of 0.59, a quick ratio of 0.65 and a debt-to-equity ratio of 1.01. Ameriprise Financial has a 12-month low of $385.74 and a 12-month high of $582.05. The firm has a market capitalization of $53.03 billion, a price-to-earnings ratio of 16.54, a PEG ratio of 1.18 and a beta of 1.36. The firm’s 50 day simple moving average is $541.20 and its two-hundred day simple moving average is $506.25.

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%. Analysts predict that Ameriprise Financial will post 38.55 EPS for the current year.

Ameriprise Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Monday, February 10th will be paid 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 1.08%. Ameriprise Financial’s payout ratio is 17.91%.

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.