Dawn Brockman Sells 472 Shares of Ameriprise Financial (NYSE:AMP) Stock

Key Points

• Ameriprise Financial SVP Dawn Brockman sold 472 shares at an average price of $558.93, totaling $263,814.96, reducing her holdings by 39.83% to 713 shares.
• Ameriprise shares traded near a 52-week high at $565.10, while the company’s latest quarterly results exceeded expectations with EPS of $11.07 and revenue of $4.90 billion.
• The company declared a quarterly dividend of $1.70 per share, or $6.80 annualized, representing a 1.2% yield; analysts maintain a “Moderate Buy” consensus with an average price target of $555.33.

Ameriprise Financial, Inc. (NYSE:AMP - Get Free Report) SVP Dawn Brockman sold 472 shares of the stock in a transaction on Monday, August 10th. The stock was sold at an average price of $558.93, for a total value of $263,814.96. Following the transaction, the senior vice president owned 713 shares of the company's stock, valued at approximately $398,517.09. This represents a 39.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

Ameriprise Financial Trading Up 0.4%

Shares of NYSE:AMP traded up $2.12 during midday trading on Wednesday, reaching $565.10. 373,620 shares of the company's stock were exchanged, compared to its average volume of 670,369. The stock has a market cap of $50.80 billion, a price-to-earnings ratio of 13.63, a P/E/G ratio of 0.75 and a beta of 1.14. Ameriprise Financial, Inc. has a fifty-two week low of $422.37 and a fifty-two week high of $565.44. The firm's 50 day simple moving average is $499.98 and its two-hundred day simple moving average is $478.73. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.71 and a quick ratio of 0.71.

Ameriprise Financial (NYSE:AMP - Get Free Report) last posted its earnings results 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 for the quarter, compared to analysts' expectations of $4.87 billion. Ameriprise Financial had a net margin of 20.24% and a return on equity of 64.19%. Ameriprise Financial's revenue for the quarter was up 11.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $9.11 earnings per share. As a group, sell-side analysts forecast that Ameriprise Financial, Inc. will post 46.12 EPS for the current fiscal year.

Ameriprise Financial Dividend Announcement

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

Analysts Set New Price Targets

Several research analysts recently commented on the company. Keefe, Bruyette & Woods boosted their target price on Ameriprise Financial from $515.00 to $545.00 and gave the stock a "market perform" rating in a research note on Friday, July 24th. Morgan Stanley boosted their price target on shares of Ameriprise Financial from $467.00 to $489.00 and gave the company an "underweight" rating in a research report on Friday, July 10th. Piper Sandler raised their target price on shares of Ameriprise Financial from $471.00 to $518.00 and gave the stock a "neutral" rating in a research report on Monday, July 13th. Jefferies Financial Group boosted their price objective on shares of Ameriprise Financial from $636.00 to $645.00 and gave the company a "buy" rating in a research note on Friday, July 10th. Finally, BMO Capital Markets boosted their target price on Ameriprise Financial from $470.00 to $490.00 and gave the stock a "market perform" rating in a research report on Friday, April 24th. Two investment analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $555.33.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in Ameriprise Financial by 5.7% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 199,258 shares of the financial services provider's stock worth $98,388,000 after buying an additional 10,782 shares during the last quarter. National Pension Service lifted its stake in Ameriprise Financial by 8.2% in the fourth quarter. National Pension Service now owns 165,543 shares of the financial services provider's stock valued at $81,172,000 after buying an additional 12,563 shares during the last quarter. KBC Group NV lifted its stake in Ameriprise Financial by 12.2% in the fourth quarter. KBC Group NV now owns 150,606 shares of the financial services provider's stock valued at $73,848,000 after buying an additional 16,433 shares during the last quarter. LSV Asset Management boosted its holdings in shares of Ameriprise Financial by 1.3% during the fourth quarter. LSV Asset Management now owns 272,018 shares of the financial services provider's stock valued at $133,381,000 after acquiring an additional 3,548 shares during the period. Finally, PFA Pension Forsikringsaktieselskab bought a new position in shares of Ameriprise Financial during the fourth quarter worth about $72,050,000. 83.95% of the stock is currently owned by institutional investors and hedge funds.

Ameriprise Financial Company Profile

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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