Insider Selling: Walter Stanley Berman Sells 29,925 Shares of Ameriprise Financial Stock (AMP)
Ameriprise Financial (NYSE:AMP) CFO Walter Stanley Berman sold 29,925 shares of the company’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $90.69, for a total transaction of $2,713,898.25. Following the completion of the transaction, the chief financial officer now directly owns 50,447 shares of the company’s stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.
A number of analysts have recently weighed in on AMP shares. Analysts at Barclays Capital downgraded shares of Ameriprise Financial (NYSE:AMP) from an “overweight” rating to an “equal weight” rating in a research note to investors on Wednesday, September 4th. They now have a $96.00 price target on the stock, down previously from $102.00. Separately, analysts at Citigroup Inc. downgraded shares of Ameriprise Financial (NYSE:AMP) from a “buy” rating to a “neutral” rating in a research note to investors on Monday, August 5th. They now have a $97.00 price target on the stock. They noted that the move was a valuation call. Finally, analysts at Goldman Sachs Group Inc. raised their price target on shares of Ameriprise Financial (NYSE:AMP) to $100.00 in a research note to investors on Thursday, July 25th. They now have a “buy” rating on the stock.
Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Ameriprise Financial presently has an average rating of “Buy” and an average price target of $92.00.
Shares of Ameriprise Financial (NYSE:AMP) traded up 0.45% during mid-day trading on Friday, hitting $90.80. The stock had a trading volume of 705,705 shares. Ameriprise Financial has a 52 week low of $55.35 and a 52 week high of $91.22. The stock’s 50-day moving average is $88.69 and its 200-day moving average is $80.31. The company has a market cap of $17.965 billion and a P/E ratio of 15.84.
Ameriprise Financial (NYSE:AMP) last posted its quarterly earnings results on Wednesday, July 24th. The company reported $1.69 EPS for the quarter, beating the Thomson Reuters consensus estimate of $1.62 by $0.07. The company had revenue of $2.70 billion for the quarter, compared to the consensus estimate of $2.76 billion. During the same quarter in the prior year, the company posted $1.39 earnings per share. The company’s quarterly revenue was up 7.4% on a year-over-year basis. On average, analysts predict that Ameriprise Financial will post $6.67 earnings per share for the current fiscal year.
Ameriprise Financial, Inc (NYSE:AMP) is a holding company primarily engaged in business through its subsidiaries.
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