Insider Selling: Ameriprise Financial (NYSE:AMP) EVP Sells 6,255 Shares of Stock

Key Points

• Ameriprise Financial EVP Gerard Smyth sold 6,255 shares on May 14 at an average price of $472.52, totaling about $2.96 million. After the sale, he still held 6,103 shares, and the transaction cut his position by 50.61%.
• The company recently reported stronger-than-expected earnings, posting EPS of $11.26 versus the $10.21 consensus estimate. Revenue came in at $4.77 billion, slightly below forecasts, but still rose 9.7% from a year earlier.
• Ameriprise boosted its quarterly dividend to $1.70 per share from $1.60, making the annualized payout $6.80 and yielding about 1.4%. The company’s stock also carried a consensus Wall Street rating of “Hold” with an average price target of $543.22.

Ameriprise Financial, Inc. (NYSE:AMP - Get Free Report) EVP Gerard Smyth sold 6,255 shares of the company's stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $472.52, for a total transaction of $2,955,612.60. Following the transaction, the executive vice president owned 6,103 shares of the company's stock, valued at approximately $2,883,789.56. The trade was a 50.61% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link.

Ameriprise Financial Stock Performance

Ameriprise Financial stock traded up $0.88 during trading hours on Monday, reaching $471.26. 428,461 shares of the stock were exchanged, compared to its average volume of 677,051. The stock has a market cap of $42.36 billion, a P/E ratio of 11.72, a P/E/G ratio of 1.11 and a beta of 1.20. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.66 and a current ratio of 0.66. Ameriprise Financial, Inc. has a 52-week low of $422.37 and a 52-week high of $550.18. The firm's 50 day moving average is $454.50 and its 200 day moving average is $473.59.

Ameriprise Financial (NYSE:AMP - Get Free Report) last announced its quarterly earnings results on Thursday, April 23rd. The financial services provider reported $11.26 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $10.21 by $1.05. The business had revenue of $4.77 billion during the quarter, compared to the consensus estimate of $4.82 billion. Ameriprise Financial had a net margin of 20.57% and a return on equity of 62.88%. The business's revenue was up 9.7% compared to the same quarter last year. During the same quarter last year, the firm posted $9.50 EPS. Analysts predict that Ameriprise Financial, Inc. will post 42.63 EPS for the current fiscal year.

Ameriprise Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 22nd. Investors of record on Monday, May 4th will be paid a $1.70 dividend. This represents a $6.80 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date of this dividend is Monday, May 4th. This is a positive change from Ameriprise Financial's previous quarterly dividend of $1.60. Ameriprise Financial's dividend payout ratio is currently 16.91%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Raymond James Financial set a $582.00 price target on shares of Ameriprise Financial and gave the stock a "strong-buy" rating in a research note on Wednesday, February 11th. BMO Capital Markets raised their target price on shares of Ameriprise Financial from $470.00 to $490.00 and gave the stock a "market perform" rating in a research report on Friday, April 24th. Royal Bank Of Canada reissued an "outperform" rating and issued a $605.00 target price (up from $580.00) on shares of Ameriprise Financial in a research report on Monday, February 2nd. Piper Sandler raised their target price on shares of Ameriprise Financial from $460.00 to $471.00 and gave the stock a "neutral" rating in a research report on Monday, May 4th. Finally, Jefferies Financial Group lifted their price target on shares of Ameriprise Financial from $600.00 to $620.00 and gave the company a "buy" rating in a research report on Monday, February 2nd. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $543.22.

Hedge Funds Weigh In On Ameriprise Financial

Several institutional investors have recently modified their holdings of AMP. PFG Investments LLC lifted its holdings 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 worth $729,000 after purchasing an additional 21 shares during the period. Institute for Wealth Management LLC. raised its holdings in Ameriprise Financial by 3.6% during the 4th 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 raised its holdings in Ameriprise Financial by 0.8% during the 4th quarter. EPG Wealth Management LLC now owns 2,714 shares of the financial services provider's stock worth $1,331,000 after buying an additional 21 shares during the period. Essex Financial Services Inc. raised its holdings in Ameriprise Financial by 2.4% during the 4th quarter. Essex Financial Services Inc. now owns 904 shares of the financial services provider's stock worth $443,000 after buying an additional 21 shares during the period. Finally, SouthState Bank Corp raised its holdings in Ameriprise Financial by 78.6% during the 4th quarter. SouthState Bank Corp now owns 50 shares of the financial services provider's stock worth $25,000 after buying an additional 22 shares during the period. Institutional investors own 83.95% of the company's stock.

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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