Ameriprise Financial CEO Unloads $1,289,455 in Stock (AMP)
Ameriprise Financial (NYSE:AMP) CEO James M. Cracchiolo sold 11,471 shares of the company’s stock on the open market in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $112.41, for a total transaction of $1,289,455.11. Following the completion of the transaction, the chief executive officer now directly owns 461,098 shares in the company, valued at approximately $51,832,026. The transaction was disclosed in a document filed with the SEC, which is available at this link.
A number of research firms have recently commented on AMP. Analysts at Credit Suisse raised their price target on shares of Ameriprise Financial from $115.00 to $117.00 in a research note on Tuesday, April 29th. Separately, analysts at Morgan Stanley cut their price target on shares of Ameriprise Financial from $130.00 to $5.00 in a research note on Tuesday, April 29th. They now have an “overweight” rating on the stock. Finally, analysts at Morgan Stanley upgraded shares of Ameriprise Financial from an “equal weight” rating to an “overweight” rating in a research note on Wednesday, April 2nd. They now have a $135.00 price target on the stock. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $104.82.
Shares of Ameriprise Financial (NYSE:AMP) traded down 0.22% during mid-day trading on Thursday, hitting $111.34. The stock had a trading volume of 822,197 shares. Ameriprise Financial has a 52 week low of $76.50 and a 52 week high of $116.82. The stock has a 50-day moving average of $108.5 and a 200-day moving average of $107.9. The company has a market cap of $21.141 billion and a P/E ratio of 16.25.
Ameriprise Financial (NYSE:AMP) last announced its earnings results on Monday, April 28th. The company reported $2.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $2.01. The company had revenue of $3.00 billion for the quarter, compared to the consensus estimate of $678.13 million. During the same quarter in the previous year, the company posted $1.59 earnings per share. The company’s revenue for the quarter was up 11.3% on a year-over-year basis. On average, analysts predict that Ameriprise Financial will post $8.18 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Friday, May 23rd. Shareholders of record on Friday, May 9th will be given a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a yield of 2.08%. The ex-dividend date of this dividend is Wednesday, May 7th. This is a positive change from Ameriprise Financial’s previous quarterly dividend of $0.52.
Ameriprise Financial, Inc (NYSE:AMP) is a holding company primarily engaged in business through its subsidiaries.
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