Ameriprise Financial (NYSE:AMP) CFO Walter Stanley Berman Sells 11,012 Shares

Key Points

• CFO Walter Stanley Berman sold 11,012 Ameriprise shares for approximately $6.05 million, reducing his direct holdings by 66.25% to 5,609 shares.
• Ameriprise exceeded quarterly expectations with EPS of $11.07 and revenue of $4.90 billion, up 11.6% year over year. The company also declared a quarterly dividend of $1.70 per share, or $6.80 annualized.
• Analyst sentiment remains favorable, with a consensus “Moderate Buy” rating and an average price target of $555.33, while AMP recently traded near $544.62.

Ameriprise Financial, Inc. (NYSE:AMP - Get Free Report) CFO Walter Stanley Berman sold 11,012 shares of the stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $548.95, for a total value of $6,045,037.40. Following the transaction, the chief financial officer directly owned 5,609 shares in the company, valued at approximately $3,079,060.55. This represents a 66.25% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Ameriprise Financial Trading Up 0.8%

NYSE AMP traded up $4.33 during trading hours on Thursday, hitting $544.62. 418,553 shares of the company's stock were exchanged, compared to its average volume of 685,324. The business's 50 day moving average is $480.85 and its 200-day moving average is $475.59. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.66 and a current ratio of 0.71. Ameriprise Financial, Inc. has a 12-month low of $422.37 and a 12-month high of $553.46. The firm has a market capitalization of $48.96 billion, a P/E ratio of 13.14, a price-to-earnings-growth ratio of 0.74 and a beta of 1.16.

Ameriprise Financial (NYSE:AMP - Get Free Report) last posted its quarterly earnings data on Thursday, July 23rd. The financial services provider reported $11.07 EPS for the quarter, beating analysts' consensus estimates of $10.81 by $0.26. The company had revenue of $4.90 billion during the quarter, compared to the consensus estimate of $4.87 billion. Ameriprise Financial had a net margin of 20.24% and a return on equity of 64.19%. The company's quarterly revenue was up 11.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $9.11 EPS. As a group, analysts anticipate that Ameriprise Financial, Inc. will post 45.84 EPS for the current fiscal year.

Ameriprise Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 21st. Shareholders of record on Monday, August 3rd will be paid a dividend of $1.70 per share. The ex-dividend date of this dividend is Monday, August 3rd. This represents a $6.80 dividend on an annualized basis and a yield of 1.2%. Ameriprise Financial's dividend payout ratio (DPR) is currently 16.40%.

Analyst Ratings Changes

AMP has been the subject of a number of research analyst reports. Keefe, Bruyette & Woods upped their price objective on Ameriprise Financial from $515.00 to $545.00 and gave the stock a "market perform" rating in a report on Friday, July 24th. BMO Capital Markets lifted their target price on 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 Ameriprise Financial from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Friday, July 17th. Zacks Research upgraded Ameriprise Financial from a "hold" rating to a "strong-buy" rating in a report on Monday. Finally, Morgan Stanley lifted their price objective on Ameriprise Financial from $467.00 to $489.00 and gave the company an "underweight" rating in a research note on Friday, July 10th. Two equities research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $555.33.

Ameriprise Financial News Roundup

Here are the key news stories impacting Ameriprise Financial this week:

• Positive Sentiment: Ameriprise reported quarterly earnings of $11.07 per share, exceeding the $10.81 consensus estimate, while revenue rose 11.6% year over year to $4.90 billion. The earnings growth and steady dividend support the investment case. Earnings growth and dividend article
• Positive Sentiment: Zacks Research upgraded AMP from “Hold” to “Strong Buy,” adding to a generally favorable analyst outlook. Jefferies also maintains a Buy rating with a $645 price target, while the analyst consensus is “Moderate Buy” with a target of about $555. Zacks upgrade report
• Positive Sentiment: The company declared a quarterly dividend of $1.70 per share, equivalent to $6.80 annually and a yield of approximately 1.3%. The modest payout ratio leaves room for continued capital returns if earnings remain strong. Ameriprise dividend and market data
• Neutral Sentiment: Ameriprise was recognized by J.D. Power for outstanding customer service for the fifth consecutive year. The award reinforces brand quality and client-retention potential but is unlikely to materially affect near-term results. J.D. Power recognition article
• Negative Sentiment: CFO Walter Stanley Berman sold 11,012 shares for approximately $6.05 million, reducing his position by 66.25%. Insider William Jerryl Williams also sold 16,104 shares across two transactions for roughly $8.67 million, cutting his holdings substantially. The sales may weigh on sentiment, although insider transactions do not necessarily signal a change in the company’s fundamentals. SEC insider transaction filing

Hedge Funds Weigh In On Ameriprise Financial

Hedge funds and other institutional investors have recently made changes to their positions in the business. PFG Investments LLC raised its position in Ameriprise Financial by 1.4% in the fourth quarter. PFG Investments LLC now owns 1,488 shares of the financial services provider's stock valued at $729,000 after purchasing an additional 21 shares during the period. Institute for Wealth Management LLC. boosted its position in shares of Ameriprise Financial by 3.6% in the fourth quarter. Institute for Wealth Management LLC. now owns 605 shares of the financial services provider's stock worth $297,000 after buying an additional 21 shares during the period. EPG Wealth Management LLC grew its stake in shares of Ameriprise Financial by 0.8% in the fourth quarter. EPG Wealth Management LLC now owns 2,714 shares of the financial services provider's stock valued at $1,331,000 after buying an additional 21 shares in the last quarter. Essex Financial Services Inc. grew its stake in shares of Ameriprise Financial by 2.4% in the fourth quarter. Essex Financial Services Inc. now owns 904 shares of the financial services provider's stock valued at $443,000 after buying an additional 21 shares in the last quarter. Finally, SouthState Bank Corp raised its holdings in shares of Ameriprise Financial by 78.6% during the 4th quarter. SouthState Bank Corp now owns 50 shares of the financial services provider's stock valued at $25,000 after buying an additional 22 shares during the period. Institutional investors and hedge funds own 83.95% of the company's stock.

About Ameriprise Financial

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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