Heather Melloh Sells 1,500 Shares of Ameriprise Financial (NYSE:AMP) Stock

Key Points

• Heather Melloh, EVP of Ameriprise Financial, sold 1,500 shares at an average price of $512.34, totaling $768,510, decreasing her ownership by 36.93% to 2,562 shares valued at approximately $1.31 million.
• Ameriprise Financial reported $9.11 earnings per share, surpassing estimates, with revenue of $4.49 billion, reflecting a 2.2% year-over-year increase.
• The company announced a quarterly dividend of $1.60 per share, resulting in an annualized yield of 1.3% and a payout ratio of 19.91%.

Ameriprise Financial, Inc. (NYSE:AMP - Get Free Report) EVP Heather Melloh sold 1,500 shares of the company's stock in a transaction dated Thursday, September 4th. The shares were sold at an average price of $512.34, for a total transaction of $768,510.00. Following the transaction, the executive vice president owned 2,562 shares in the company, valued at $1,312,615.08. This represents a 36.93% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Ameriprise Financial Stock Performance

AMP traded up $3.08 during midday trading on Monday, hitting $492.36. 594,118 shares of the company traded hands, compared to its average volume of 500,770. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 0.95. The firm has a market capitalization of $46.41 billion, a PE ratio of 15.32, a price-to-earnings-growth ratio of 1.04 and a beta of 1.27. The company's 50-day moving average is $520.22 and its 200 day moving average is $503.84. Ameriprise Financial, Inc. has a 52 week low of $396.14 and a 52 week high of $582.05.

Ameriprise Financial (NYSE:AMP - Get Free Report) last posted its earnings results on Thursday, July 24th. The financial services provider reported $9.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $9.00 by $0.11. The business had revenue of $4.49 billion for the quarter, compared to analysts' expectations of $4.33 billion. Ameriprise Financial had a net margin of 18.30% and a return on equity of 65.90%. The business's revenue for the quarter was up 2.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $8.72 EPS. On average, research analysts expect that Ameriprise Financial, Inc. will post 38.64 EPS for the current year.

Ameriprise Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, August 18th. Investors of record on Monday, August 4th were given a dividend of $1.60 per share. The ex-dividend date was Monday, August 4th. This represents a $6.40 annualized dividend and a yield of 1.3%. Ameriprise Financial's payout ratio is 19.91%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on AMP shares. Raymond James Financial lifted their target price on Ameriprise Financial from $518.00 to $582.00 and gave the company a "strong-buy" rating in a research report on Friday, July 25th. Keefe, Bruyette & Woods raised their target price on shares of Ameriprise Financial from $520.00 to $550.00 and gave the stock a "market perform" rating in a research note on Wednesday, July 9th. Royal Bank Of Canada raised their target price on shares of Ameriprise Financial from $595.00 to $601.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 30th. William Blair cut shares of Ameriprise Financial from an "outperform" rating to a "market perform" rating in a research note on Friday, July 25th. Finally, Morgan Stanley cut shares of Ameriprise Financial from an "equal weight" rating to an "underweight" rating and raised their target price for the stock from $462.00 to $530.00 in a research note on Tuesday, July 15th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat.com, Ameriprise Financial has a consensus rating of "Hold" and an average target price of $534.71.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Orion Porfolio Solutions LLC boosted its stake in Ameriprise Financial by 6.1% during the second quarter. Orion Porfolio Solutions LLC now owns 8,742 shares of the financial services provider's stock worth $4,666,000 after buying an additional 499 shares during the period. MASTERINVEST Kapitalanlage GmbH bought a new position in shares of Ameriprise Financial during the second quarter valued at approximately $791,000. Hilltop Partners LLC grew its stake in shares of Ameriprise Financial by 2.1% during the second quarter. Hilltop Partners LLC now owns 3,077 shares of the financial services provider's stock valued at $1,642,000 after buying an additional 63 shares during the last quarter. B. Riley Wealth Advisors Inc. bought a new position in shares of Ameriprise Financial during the second quarter valued at approximately $884,000. Finally, Advisory Services Network LLC grew its stake in shares of Ameriprise Financial by 14.3% during the second quarter. Advisory Services Network LLC now owns 10,062 shares of the financial services provider's stock valued at $5,214,000 after buying an additional 1,257 shares during the last quarter. 83.95% of the stock is owned by hedge funds and other institutional investors.

Ameriprise Financial Company Profile

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.

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