Ameriprise Financial, Inc. (NYSE:AMP) Short Interest Update

Ameriprise Financial, Inc. (NYSE:AMP - Get Free Report) was the recipient of a significant drop in short interest during the month of January. As of January 31st, there was short interest totalling 1,060,000 shares, a drop of 6.2% from the January 15th total of 1,130,000 shares. Based on an average trading volume of 501,800 shares, the days-to-cover ratio is presently 2.1 days. Currently, 1.1% of the company's shares are short sold.

Insider Activity at Ameriprise Financial

In other Ameriprise Financial news, 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 transaction of $523,120.00. Following the transaction, the director now directly owns 10,000 shares of the company's stock, valued at $5,231,200. The trade was a 9.09 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Joseph Edward Sweeney sold 4,636 shares of the company's stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $539.07, for a total transaction of $2,499,128.52. Following the sale, the insider now directly owns 7,237 shares of the company's stock, valued at approximately $3,901,249.59. This trade represents a 39.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 11,636 shares of company stock worth $6,263,989. 0.73% of the stock is owned by insiders.

Hedge Funds Weigh In On Ameriprise Financial

Several hedge funds have recently modified their holdings of the company. Exchange Traded Concepts LLC acquired a new position in shares of Ameriprise Financial in the 3rd quarter worth approximately $108,000. Creative Planning grew its holdings in shares of Ameriprise Financial by 1.6% in the 3rd quarter. Creative Planning now owns 22,571 shares of the financial services provider's stock worth $10,604,000 after acquiring an additional 348 shares during the last quarter. Howard Capital Management Group LLC grew its holdings in shares of Ameriprise Financial by 11.1% in the 3rd quarter. Howard Capital Management Group LLC now owns 1,787 shares of the financial services provider's stock worth $840,000 after acquiring an additional 178 shares during the last quarter. Blue Trust Inc. lifted its holdings in shares of Ameriprise Financial by 15.5% during the third quarter. Blue Trust Inc. now owns 1,831 shares of the financial services provider's stock valued at $782,000 after purchasing an additional 246 shares during the last quarter. Finally, Raymond James & Associates boosted its position in shares of Ameriprise Financial by 3.1% in the 3rd quarter. Raymond James & Associates now owns 159,215 shares of the financial services provider's stock valued at $74,801,000 after purchasing an additional 4,859 shares during the period. 83.95% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Piper Sandler raised their price objective on Ameriprise Financial from $415.00 to $442.00 and gave the company an "underweight" rating in a research note on Friday, January 31st. Keefe, Bruyette & Woods raised their price target on shares of Ameriprise Financial from $560.00 to $570.00 and gave the stock a "market perform" rating in a research report on Monday, February 3rd. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $625.00 price target on shares of Ameriprise Financial in a report on Monday, February 3rd. Finally, UBS Group downgraded shares of Ameriprise Financial from a "buy" rating to a "neutral" rating and reduced their price objective for the company from $580.00 to $570.00 in a research note on Monday, January 6th. 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 has an average rating of "Hold" and an average price target of $510.44.

Ameriprise Financial Stock Performance

Shares of AMP traded down $10.83 during trading hours on Friday, reaching $530.18. 690,237 shares of the company's stock traded hands, compared to its average volume of 555,326. Ameriprise Financial has a twelve month low of $385.74 and a twelve month high of $582.05. The business's fifty day simple moving average is $540.89 and its two-hundred day simple moving average is $508.68. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.59 and a quick ratio of 0.65. The firm has a market capitalization of $51.44 billion, a price-to-earnings ratio of 16.04, a P/E/G ratio of 1.19 and a beta of 1.36.

Ameriprise Financial (NYSE:AMP - Get Free Report) last released its earnings results on Wednesday, January 29th. The financial services provider reported $9.36 EPS for the quarter, beating the consensus estimate of $9.16 by $0.20. Ameriprise Financial had a net margin of 19.70% and a return on equity of 69.35%. Analysts predict that Ameriprise Financial will post 38.55 earnings per share for the current year.

Ameriprise Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Monday, February 10th will be given a $1.48 dividend. The ex-dividend date is Monday, February 10th. This represents a $5.92 dividend on an annualized basis and a yield of 1.12%. Ameriprise Financial's dividend payout ratio (DPR) is 17.91%.

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.