Ameriprise Financial CEO William F. Truscott Unloads 17,000 Shares (AMP)
Ameriprise Financial (NYSE:AMP) CEO William F. Truscott sold 17,000 shares of the stock on the open market in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $109.40, for a total transaction of $1,859,800.00. Following the completion of the transaction, the chief executive officer now directly owns 29,816 shares of the company’s stock, valued at approximately $3,261,870. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
AMP has been the subject of a number of recent research reports. 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 investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $102.80.
Shares of Ameriprise Financial (NYSE:AMP) traded up 0.38% during mid-day trading on Thursday, hitting $110.56. The stock had a trading volume of 637,696 shares. Ameriprise Financial has a 1-year low of $76.77 and a 1-year high of $116.82. The stock has a 50-day moving average of $108.4 and a 200-day moving average of $108.7. The company has a market cap of $20.993 billion and a price-to-earnings ratio of 16.04.
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 announced a quarterly dividend, which is scheduled for Friday, May 23rd. Stockholders of record on Friday, May 9th will be paid a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a dividend yield of 2.10%. The ex-dividend date is Wednesday, May 7th. This is a boost 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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