Ameriprise Financial, Inc. (NYSE:AMP) Insider Joseph Edward Sweeney Sells 4,636 Shares of Stock

Ameriprise Financial, Inc. (NYSE:AMP) insider Joseph Edward Sweeney sold 4,636 shares of Ameriprise Financial stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $539.07, for a total value of $2,499,128.52. Following the transaction, the insider now directly owns 7,237 shares of the company’s stock, valued at $3,901,249.59. The trade was a 39.05 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Ameriprise Financial Stock Performance

NYSE AMP opened at $530.18 on Friday. Ameriprise Financial, Inc. has a 52-week low of $385.74 and a 52-week high of $582.05. The company has a fifty day moving average of $540.89 and a 200-day moving average of $508.68. The company has a market capitalization of $51.44 billion, a P/E ratio of 16.04, a P/E/G ratio of 1.19 and a beta of 1.36. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.65 and a current ratio of 0.59.

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, topping the consensus estimate of $9.16 by $0.20. Ameriprise Financial had a return on equity of 69.35% and a net margin of 19.70%. As a group, equities research analysts predict that Ameriprise Financial, Inc. will post 38.55 EPS for the current fiscal year.

Ameriprise Financial Announces Dividend

The firm 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. This represents a $5.92 dividend on an annualized basis and a yield of 1.12%. The ex-dividend date of this dividend is Monday, February 10th. Ameriprise Financial’s payout ratio is currently 17.91%.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Keefe, Bruyette & Woods boosted 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. Piper Sandler raised their price target on shares of Ameriprise Financial from $415.00 to $442.00 and gave the company an “underweight” rating in a 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 report on Monday, February 3rd. Finally, UBS Group lowered Ameriprise Financial from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $580.00 to $570.00 in a research note on Monday, January 6th. One analyst has rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $510.44.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Geller Advisors LLC raised its position in shares of Ameriprise Financial by 2.2% in the 3rd quarter. Geller Advisors LLC now owns 878 shares of the financial services provider’s stock worth $412,000 after purchasing an additional 19 shares during the last quarter. Cerro Pacific Wealth Advisors LLC grew its position in Ameriprise Financial by 3.4% during the fourth quarter. Cerro Pacific Wealth Advisors LLC now owns 576 shares of the financial services provider’s stock valued at $307,000 after buying an additional 19 shares during the period. Legacy Capital Wealth Partners LLC increased its stake in shares of Ameriprise Financial by 2.0% in the 3rd quarter. Legacy Capital Wealth Partners LLC now owns 1,022 shares of the financial services provider’s stock worth $480,000 after purchasing an additional 20 shares in the last quarter. SRS Capital Advisors Inc. increased its holdings in Ameriprise Financial by 40.0% in the 4th quarter. SRS Capital Advisors Inc. now owns 70 shares of the financial services provider’s stock worth $37,000 after acquiring an additional 20 shares in the last quarter. Finally, HighPoint Advisor Group LLC raised its position in shares of Ameriprise Financial by 0.8% during the 4th quarter. HighPoint Advisor Group LLC now owns 2,683 shares of the financial services provider’s stock valued at $1,419,000 after purchasing an additional 20 shares during the period. 83.95% of the stock is owned by institutional investors.

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.