Insider Selling: Ameriprise Financial, Inc. (NYSE:AMP) Director Sells 1,000 Shares of Stock

Ameriprise Financial, Inc. (NYSE:AMP - Get Free Report) Director Robert Francis Sharpe, Jr. sold 1,000 shares of Ameriprise Financial stock in a transaction that occurred on Wednesday, February 12th. The shares were sold at an average price of $523.12, for a total value of $523,120.00. Following the completion of the sale, the director now owns 10,000 shares in the company, valued at approximately $5,231,200. This trade represents a 9.09 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Ameriprise Financial Price Performance

Shares of AMP traded up $0.55 during trading hours on Tuesday, reaching $546.48. 618,265 shares of the company traded hands, compared to its average volume of 560,483. The stock has a market capitalization of $53.01 billion, a PE ratio of 16.53, a price-to-earnings-growth ratio of 1.18 and a beta of 1.36. The stock has a fifty day simple moving average of $541.06 and a 200 day simple moving average of $507.16. Ameriprise Financial, Inc. has a fifty-two week low of $385.74 and a fifty-two week high of $582.05. The company has a quick ratio of 0.65, a current ratio of 0.59 and a debt-to-equity ratio of 1.01.

Ameriprise Financial (NYSE:AMP - Get Free Report) last issued its quarterly earnings results on Wednesday, January 29th. The financial services provider reported $9.36 EPS for the quarter, topping analysts' consensus estimates of $9.16 by $0.20. Ameriprise Financial had a net margin of 19.70% and a return on equity of 69.35%. As a group, research analysts predict that Ameriprise Financial, Inc. will post 38.55 EPS for the current fiscal year.

Ameriprise Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Monday, February 10th will be given a dividend of $1.48 per share. The ex-dividend date of this dividend is Monday, February 10th. This represents a $5.92 annualized dividend and a yield of 1.08%. Ameriprise Financial's dividend payout ratio (DPR) is presently 17.91%.

Institutional Investors Weigh In On Ameriprise Financial

A number of institutional investors have recently bought and sold shares of AMP. Geller Advisors LLC grew its stake in shares of Ameriprise Financial by 2.2% during the 3rd quarter. Geller Advisors LLC now owns 878 shares of the financial services provider's stock valued at $412,000 after buying an additional 19 shares during the period. Cerro Pacific Wealth Advisors LLC boosted its holdings in Ameriprise Financial by 3.4% in the fourth quarter. Cerro Pacific Wealth Advisors LLC now owns 576 shares of the financial services provider's stock valued at $307,000 after acquiring an additional 19 shares during the last quarter. Legacy Capital Wealth Partners LLC increased its stake in Ameriprise Financial by 2.0% during the third quarter. Legacy Capital Wealth Partners LLC now owns 1,022 shares of the financial services provider's stock worth $480,000 after acquiring an additional 20 shares during the last quarter. SRS Capital Advisors Inc. raised its holdings in shares of Ameriprise Financial by 40.0% in the 4th quarter. SRS Capital Advisors Inc. now owns 70 shares of the financial services provider's stock worth $37,000 after purchasing an additional 20 shares during the period. Finally, HighPoint Advisor Group LLC lifted its stake in shares of Ameriprise Financial by 0.8% in the 4th quarter. HighPoint Advisor Group LLC now owns 2,683 shares of the financial services provider's stock valued at $1,419,000 after purchasing an additional 20 shares in the last quarter. 83.95% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts recently commented on AMP shares. Piper Sandler raised their price objective on shares of Ameriprise Financial from $415.00 to $442.00 and gave the company an "underweight" rating in a research note on Friday, January 31st. Royal Bank of Canada reissued an "outperform" rating and set a $625.00 price target on shares of Ameriprise Financial in a research note on Monday, February 3rd. UBS Group cut Ameriprise Financial from a "buy" rating to a "neutral" rating and lowered their price target for the stock from $580.00 to $570.00 in a report on Monday, January 6th. Finally, Keefe, Bruyette & Woods lifted their price objective on Ameriprise Financial from $560.00 to $570.00 and gave the stock a "market perform" rating in a report on Monday, February 3rd. One research analyst has rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $510.44.

About Ameriprise Financial

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.