Insider Selling: James M. Cracchiolo Sells 72,445 Shares of Ameriprise Financial Stock (AMP)
Ameriprise Financial (NYSE:AMP) CEO James M. Cracchiolo sold 72,445 shares of the company’s stock on the open market in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $112.75, for a total transaction of $8,168,173.75. Following the transaction, the chief executive officer now directly owns 321,364 shares of the company’s stock, valued at approximately $36,233,791. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Ameriprise Financial (NYSE:AMP) traded up 1.18% during mid-day trading on Monday, hitting $113.94. 886,080 shares of the company’s stock traded hands. Ameriprise Financial has a 52 week low of $76.77 and a 52 week high of $116.82. The stock has a 50-day moving average of $108.7 and a 200-day moving average of $109.0. The company has a market cap of $21.635 billion and a price-to-earnings ratio of 16.40.
Ameriprise Financial (NYSE:AMP) last announced its earnings results on Monday, April 28th. The company reported $2.04 earnings per share for the quarter, beating the analysts’ 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 last year, the company posted $1.59 earnings per share. Ameriprise Financial’s revenue was up 11.3% compared to the same quarter last year. On average, analysts predict that Ameriprise Financial will post $8.18 earnings per share for the current fiscal year.
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 analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $102.80.
Ameriprise Financial, Inc (NYSE:AMP) is a holding company primarily engaged in business through its subsidiaries.
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