William Jerryl Williams Sells 7,894 Shares of Ameriprise Financial (NYSE:AMP) Stock

Key Points

• Ameriprise insider William Jerryl Williams sold 7,894 shares at an average price of $537.08, totaling approximately $4.24 million and reducing his ownership by 42.04%. He also sold an additional 8,210 shares the following day for about $4.43 million.
• Ameriprise reported quarterly earnings of $11.07 per share, beating estimates of $10.81, while revenue rose 11.6% year over year to $4.90 billion. The company declared a quarterly dividend of $1.70 per share, representing a 1.3% yield.
• Shares recently traded around $541, near their 52-week high, while analysts’ consensus rating remained “Moderate Buy” with an average price target of $555.33. Institutional investors and hedge funds own approximately 83.95% of the stock.

Ameriprise Financial, Inc. (NYSE:AMP - Get Free Report) insider William Jerryl Williams sold 7,894 shares of the business's stock in a transaction on Monday, July 27th. The shares were sold at an average price of $537.08, for a total value of $4,239,709.52. Following the completion of the transaction, the insider owned 10,882 shares of the company's stock, valued at $5,844,504.56. This trade represents a 42.04% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

William Jerryl Williams also recently made the following trade(s):

• On Tuesday, July 28th, William Jerryl Williams sold 8,210 shares of Ameriprise Financial stock. The stock was sold at an average price of $539.35, for a total value of $4,428,063.50.

Ameriprise Financial Trading Down 1.0%

Shares of NYSE:AMP traded down $5.53 during midday trading on Wednesday, reaching $541.09. The company's stock had a trading volume of 444,717 shares, compared to its average volume of 687,189. The firm has a market cap of $48.64 billion, a price-to-earnings ratio of 13.05, a price-to-earnings-growth ratio of 0.92 and a beta of 1.16. The company has a quick ratio of 0.66, a current 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 $553.46. The business has a 50 day moving average price of $479.17 and a 200 day moving average price of $475.33.

Ameriprise Financial (NYSE:AMP - Get Free Report) last released its earnings results on Thursday, July 23rd. The financial services provider reported $11.07 earnings per share for the quarter, topping the consensus estimate of $10.81 by $0.26. Ameriprise Financial had a return on equity of 64.19% and a net margin of 20.24%.The firm had revenue of $4.90 billion for the quarter, compared to the consensus estimate of $4.87 billion. During the same period in the prior year, the business posted $9.11 earnings per share. The firm's revenue for the quarter was up 11.6% compared to the same quarter last year. Research analysts forecast that Ameriprise Financial, Inc. will post 45.84 EPS for the current year.

Ameriprise Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 21st. Stockholders 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 dividend yield of 1.3%. Ameriprise Financial's dividend payout ratio is currently 16.40%.

Hedge Funds Weigh In On Ameriprise Financial

Several hedge funds and other institutional investors have recently modified their holdings of AMP. Norges Bank acquired a new stake in shares of Ameriprise Financial in the fourth quarter worth $742,438,000. AQR Capital Management LLC lifted its holdings in shares of Ameriprise Financial by 84.2% during the 4th quarter. AQR Capital Management LLC now owns 1,085,889 shares of the financial services provider's stock valued at $532,455,000 after acquiring an additional 496,319 shares in the last quarter. M&T Bank Corp boosted its position in Ameriprise Financial by 1,440.2% during the 4th quarter. M&T Bank Corp now owns 466,151 shares of the financial services provider's stock worth $228,572,000 after purchasing an additional 435,885 shares during the period. First Trust Advisors LP boosted its position in Ameriprise Financial by 85.5% during the 4th quarter. First Trust Advisors LP now owns 828,437 shares of the financial services provider's stock worth $406,216,000 after purchasing an additional 381,754 shares during the period. Finally, Qube Research & Technologies Ltd increased its holdings in Ameriprise Financial by 140.5% in the 3rd quarter. Qube Research & Technologies Ltd now owns 471,867 shares of the financial services provider's stock valued at $231,805,000 after purchasing an additional 275,659 shares in the last quarter. 83.95% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently issued reports on AMP shares. 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. Weiss Ratings raised shares of Ameriprise Financial from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Friday, July 17th. Zacks Research upgraded shares of Ameriprise Financial from a "hold" rating to a "strong-buy" rating in a report on Monday. Morgan Stanley lifted their price target on shares of Ameriprise Financial from $467.00 to $489.00 and gave the company an "underweight" rating in a report on Friday, July 10th. Finally, 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. Two investment analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $555.33.

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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