Ameriprise Financial CEO Sells 29,563 Shares (AMP)
Ameriprise Financial (NYSE:AMP) CEO James M. Cracchiolo sold 29,563 shares of Ameriprise Financial stock on the open market in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $122.56, for a total value of $3,623,241.28. Following the completion of the transaction, the chief executive officer now directly owns 290,941 shares of the company’s stock, valued at approximately $35,657,729. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Ameriprise Financial (NYSE:AMP) traded up 0.45% on Thursday, hitting $123.48. The stock had a trading volume of 725,102 shares. Ameriprise Financial has a 52-week low of $85.24 and a 52-week high of $127.00. The stock’s 50-day moving average is $120.8 and its 200-day moving average is $113.2. The company has a market cap of $23.115 billion and a P/E ratio of 16.99.
Ameriprise Financial (NYSE:AMP) last released its earnings data on Tuesday, July 29th. The company reported $2.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.01 by $0.07. The company had revenue of $3.07 billion for the quarter, compared to the consensus estimate of $3.03 billion. During the same quarter in the previous year, the company posted $1.69 earnings per share. The company’s revenue for the quarter was up 11.7% on a year-over-year basis. On average, analysts predict that Ameriprise Financial will post $8.41 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Friday, August 22nd. Stockholders of record on Monday, August 11th will be given a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a yield of 1.88%. The ex-dividend date of this dividend is Thursday, August 7th.
AMP has been the subject of a number of recent research reports. Analysts at Morgan Stanley downgraded shares of Ameriprise Financial from an “overweight” rating to an “equal weight” rating in a research note on Monday, August 11th. Separately, analysts at Citigroup Inc. reiterated a “neutral” rating on shares of Ameriprise Financial in a research note on Thursday, July 31st. They now have a $127.00 price target on the stock, up previously from $125.00. Finally, analysts at Credit Suisse reiterated a “neutral” rating on shares of Ameriprise Financial in a research note on Wednesday, July 30th. They now have a $118.00 price target on the stock, up previously from $117.00. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $122.63.
Ameriprise Financial, Inc (NYSE:AMP) is a holding company primarily engaged in business through its subsidiaries.
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