Insider Selling: Ameriprise Financial (NYSE:AMP) EVP Sells $1,339,872.00 in Stock

Key Points

• Ameriprise Financial EVP Deirdre Davey Mcgraw sold 2,400 shares at an average price of $558.28, generating $1.34 million. The sale reduced her direct ownership by 41.57% to 3,373 shares.
• Ameriprise shares rose 0.9% to $557.14, near the company’s 52-week high. The firm recently exceeded quarterly earnings and revenue expectations, reporting $11.07 in EPS and $4.90 billion in revenue.
• The company declared a quarterly dividend of $1.70 per share, equal to $6.80 annually and a 1.2% yield. Analysts’ consensus view remains “Moderate Buy,” with an average price target of $555.33.

Ameriprise Financial, Inc. (NYSE:AMP - Get Free Report) EVP Deirdre Davey Mcgraw sold 2,400 shares of the business's stock in a transaction that occurred on Thursday, August 6th. The stock was sold at an average price of $558.28, for a total value of $1,339,872.00. Following the transaction, the executive vice president directly owned 3,373 shares in the company, valued at $1,883,078.44. This trade represents a 41.57% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

Ameriprise Financial Stock Up 0.9%

NYSE:AMP traded up $5.16 during trading hours on Monday, hitting $557.14. The stock had a trading volume of 338,157 shares, compared to its average volume of 674,237. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.99. Ameriprise Financial, Inc. has a 1-year low of $422.37 and a 1-year high of $565.05. The business has a 50 day simple moving average of $495.41 and a two-hundred day simple moving average of $477.86. The company has a market cap of $50.09 billion, a PE ratio of 13.44, a price-to-earnings-growth ratio of 0.74 and a beta of 1.14.

Ameriprise Financial (NYSE:AMP - Get Free Report) last posted its quarterly earnings data on Thursday, July 23rd. The financial services provider reported $11.07 earnings per share (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 analyst estimates of $4.87 billion. Ameriprise Financial had a net margin of 20.24% and a return on equity of 64.19%. The business's quarterly revenue was up 11.6% on a year-over-year basis. During the same quarter last year, the firm posted $9.11 earnings per share. Analysts predict that Ameriprise Financial, Inc. will post 46.12 EPS for the current year.

Ameriprise Financial Announces Dividend

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

Wall Street Analyst Weigh In

Several analysts have recently weighed in on AMP shares. Piper Sandler raised their target price on Ameriprise Financial from $471.00 to $518.00 and gave the company a "neutral" rating in a research note on Monday, July 13th. BMO Capital Markets lifted their price objective on Ameriprise Financial from $470.00 to $490.00 and gave the stock a "market perform" rating in a report on Friday, April 24th. Keefe, Bruyette & Woods upped their target price on Ameriprise Financial from $515.00 to $545.00 and gave the company a "market perform" rating in a research report on Friday, July 24th. Zacks Research upgraded Ameriprise Financial from a "hold" rating to a "strong-buy" rating in a research note on Monday, July 27th. Finally, Morgan Stanley raised their price target on shares of Ameriprise Financial from $467.00 to $489.00 and gave the stock an "underweight" rating in a research report on Friday, July 10th. Two investment 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 given a Sell rating to the company's stock. According to MarketBeat.com, Ameriprise Financial currently has an average rating of "Moderate Buy" and an average target price of $555.33.

Hedge Funds Weigh In On Ameriprise Financial

Several large investors have recently modified their holdings of the stock. SouthState Bank Corp grew its position in shares of Ameriprise Financial by 78.6% during the fourth quarter. SouthState Bank Corp now owns 50 shares of the financial services provider's stock worth $25,000 after acquiring an additional 22 shares during the last quarter. Cassaday & Co Wealth Management LLC bought a new stake in Ameriprise Financial in the 1st quarter valued at about $28,000. University of Texas Texas AM Investment Management Co. acquired a new position in Ameriprise Financial during the 2nd quarter valued at about $28,000. Ares Financial Consulting LLC bought a new position in Ameriprise Financial in the 4th quarter worth about $32,000. Finally, Prosperity Bancshares Inc acquired a new stake in shares of Ameriprise Financial in the fourth quarter valued at approximately $33,000. Institutional investors 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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