Ameriprise Financial, Inc. (NYSE:AMP) Short Interest Down 18.9% in March

Ameriprise Financial, Inc. (NYSE:AMP - Get Free Report) saw a large drop in short interest in March. As of March 15th, there was short interest totalling 1,160,000 shares, a drop of 18.9% from the February 28th total of 1,430,000 shares. Approximately 1.2% of the company's stock are short sold. Based on an average daily volume of 545,700 shares, the short-interest ratio is currently 2.1 days.

Analyst Upgrades and Downgrades

AMP has been the subject of a number of analyst reports. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $625.00 price target on shares of Ameriprise Financial in a research report on Monday, February 3rd. UBS Group cut Ameriprise Financial from a "buy" rating to a "neutral" rating and decreased their target price for the stock from $580.00 to $570.00 in a research report on Monday, January 6th. Keefe, Bruyette & Woods lifted their price target on shares of Ameriprise Financial from $560.00 to $570.00 and gave the company a "market perform" rating in a research report on Monday, February 3rd. Morgan Stanley boosted their price objective on shares of Ameriprise Financial from $507.00 to $542.00 and gave the stock an "equal weight" rating in a research note on Tuesday, March 4th. Finally, Piper Sandler raised their target price 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. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $514.89.

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Ameriprise Financial Stock Performance

Shares of Ameriprise Financial stock traded down $34.20 during midday trading on Friday, hitting $421.61. The company had a trading volume of 828,088 shares, compared to its average volume of 487,269. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.59 and a quick ratio of 0.59. Ameriprise Financial has a 1-year low of $385.74 and a 1-year high of $582.05. The business's 50 day simple moving average is $515.46 and its two-hundred day simple moving average is $523.50. The stock has a market cap of $40.52 billion, a PE ratio of 12.75, a P/E/G ratio of 1.15 and a beta of 1.33.

Ameriprise Financial (NYSE:AMP - Get Free Report) last announced its quarterly earnings data on Wednesday, January 29th. The financial services provider reported $9.36 EPS for the quarter, beating 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, equities analysts predict that Ameriprise Financial will post 38.64 EPS for the current fiscal year.

Ameriprise Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Monday, February 10th were given a $1.48 dividend. The ex-dividend date was Monday, February 10th. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.40%. Ameriprise Financial's dividend payout ratio is currently 17.91%.

Insider Transactions at Ameriprise Financial

In other news, insider Joseph Edward Sweeney sold 4,636 shares of the stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $539.07, for a total transaction of $2,499,128.52. Following the transaction, the insider now owns 7,237 shares in the company, valued at $3,901,249.59. This represents a 39.05 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO William F. Truscott sold 6,000 shares of Ameriprise Financial stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $540.29, for a total transaction of $3,241,740.00. Following the completion of the sale, the chief executive officer now directly owns 14,023 shares of the company's stock, valued at approximately $7,576,486.67. The trade was a 29.97 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 11,636 shares of company stock valued at $6,263,989 in the last three months. Corporate insiders own 0.73% of the company's stock.

Institutional Trading of Ameriprise Financial

A number of institutional investors and hedge funds have recently modified their holdings of AMP. Quent Capital LLC increased its holdings in Ameriprise Financial by 1.8% in the 1st quarter. Quent Capital LLC now owns 1,874 shares of the financial services provider's stock valued at $907,000 after buying an additional 33 shares during the period. Moody National Bank Trust Division increased its stake in Ameriprise Financial by 10.6% in the first quarter. Moody National Bank Trust Division now owns 553 shares of the financial services provider's stock valued at $268,000 after acquiring an additional 53 shares during the period. Versant Capital Management Inc raised its position in Ameriprise Financial by 48.3% in the first quarter. Versant Capital Management Inc now owns 212 shares of the financial services provider's stock worth $103,000 after purchasing an additional 69 shares in the last quarter. Boston Common Asset Management LLC lifted its stake in Ameriprise Financial by 32.1% during the first quarter. Boston Common Asset Management LLC now owns 39,615 shares of the financial services provider's stock worth $19,178,000 after purchasing an additional 9,616 shares during the period. Finally, Fire Capital Management LLC bought a new stake in shares of Ameriprise Financial in the 4th quarter valued at approximately $612,000. 83.95% of the stock is currently owned by institutional investors.

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.