Ameriprise Financial, Inc. (NYSE:AMP) Short Interest Update

Ameriprise Financial, Inc. (NYSE:AMP) saw a large decline in short interest in the month of November. As of November 30th, there was short interest totalling 1,110,000 shares, a decline of 9.8% from the November 15th total of 1,230,000 shares. Approximately 1.2% of the company’s shares are short sold. Based on an average daily trading volume, of 443,500 shares, the days-to-cover ratio is presently 2.5 days.

Insider Activity

In related news, CFO Walter Stanley Berman sold 8,655 shares of the firm’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $564.16, for a total transaction of $4,882,804.80. Following the sale, the chief financial officer now directly owns 6,409 shares in the company, valued at $3,615,701.44. This trade represents a 57.45 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Gumer Alvero sold 2,325 shares of the company’s stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $516.05, for a total value of $1,199,816.25. Following the transaction, the insider now directly owns 4,669 shares of the company’s stock, valued at $2,409,437.45. This represents a 33.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 21,715 shares of company stock valued at $11,983,436 in the last ninety days. 0.73% of the stock is owned by insiders.

Hedge Funds Weigh In On Ameriprise Financial

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Copley Financial Group Inc. acquired a new position in Ameriprise Financial in the third quarter valued at about $467,000. Oddo BHF Asset Management Sas acquired a new position in shares of Ameriprise Financial in the 3rd quarter valued at approximately $1,703,000. Old North State Trust LLC raised its position in shares of Ameriprise Financial by 1.0% in the 3rd quarter. Old North State Trust LLC now owns 2,369 shares of the financial services provider’s stock valued at $1,113,000 after buying an additional 24 shares in the last quarter. Asset Advisors Investment Management LLC lifted its holdings in shares of Ameriprise Financial by 3.2% during the 3rd quarter. Asset Advisors Investment Management LLC now owns 23,377 shares of the financial services provider’s stock worth $10,983,000 after acquiring an additional 716 shares during the period. Finally, Synovus Financial Corp boosted its position in shares of Ameriprise Financial by 1.4% during the 3rd quarter. Synovus Financial Corp now owns 2,812 shares of the financial services provider’s stock worth $1,321,000 after acquiring an additional 38 shares in the last quarter. 83.95% of the stock is owned by institutional investors and hedge funds.

Ameriprise Financial Stock Performance

AMP traded down $8.38 on Tuesday, reaching $541.86. The company had a trading volume of 554,521 shares, compared to its average volume of 471,069. The company’s fifty day moving average is $540.96 and its 200 day moving average is $473.30. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.65 and a current ratio of 0.65. The stock has a market cap of $52.57 billion, a P/E ratio of 20.80, a P/E/G ratio of 0.96 and a beta of 1.34. Ameriprise Financial has a fifty-two week low of $368.41 and a fifty-two week high of $577.00.

Ameriprise Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Monday, November 4th were given a $1.48 dividend. The ex-dividend date was Monday, November 4th. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.09%. Ameriprise Financial’s payout ratio is 22.73%.

Analysts Set New Price Targets

AMP has been the topic of a number of research reports. The Goldman Sachs Group lowered shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $485.00 to $476.00 in a research report on Thursday, September 26th. Keefe, Bruyette & Woods raised their price objective on Ameriprise Financial from $475.00 to $510.00 and gave the company a “market perform” rating in a report on Tuesday, October 29th. UBS Group upped their target price on Ameriprise Financial from $490.00 to $555.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. Morgan Stanley raised their price target on Ameriprise Financial from $440.00 to $502.00 and gave the company an “equal weight” rating in a research note on Thursday, October 17th. Finally, Royal Bank of Canada upped their price objective on Ameriprise Financial from $535.00 to $550.00 and gave the stock an “outperform” rating in a research note on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $487.67.

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.