Ameriprise Financial (NYSE:AMP) Shares Down 5.6% Following Insider Selling

Ameriprise Financial, Inc. (NYSE:AMP)’s stock price traded down 5.6% on Tuesday following insider selling activity. The stock traded as low as $514.17 and last traded at $508.8650. 235,360 shares were traded during trading, a decline of 61% from the average session volume of 601,609 shares. The stock had previously closed at $539.11.

Specifically, CFO Walter Stanley Berman sold 7,000 shares of the stock in a transaction dated Thursday, February 5th. The stock was sold at an average price of $544.22, for a total transaction of $3,809,540.00. Following the completion of the sale, the chief financial officer owned 5,609 shares in the company, valued at approximately $3,052,529.98. This trade represents a 55.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Wall Street Analyst Weigh In

A number of research analysts recently commented on AMP shares. Raymond James Financial set a $582.00 price target on Ameriprise Financial and gave the stock a “strong-buy” rating in a report on Wednesday. Argus lowered their target price on shares of Ameriprise Financial from $568.00 to $554.00 and set a “buy” rating on the stock in a report on Thursday, November 13th. Jefferies Financial Group raised their target price on shares of Ameriprise Financial from $600.00 to $620.00 and gave the company a “buy” rating in a research note on Monday, February 2nd. Keefe, Bruyette & Woods reduced their price target on shares of Ameriprise Financial from $550.00 to $530.00 and set a “market perform” rating on the stock in a report on Monday, November 3rd. Finally, Morgan Stanley increased their price objective on shares of Ameriprise Financial from $484.00 to $485.00 and gave the company an “underweight” rating in a report on Monday, December 22nd. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $555.67.

Ameriprise Financial Price Performance

The firm has a market cap of $45.16 billion, a P/E ratio of 13.37, a PEG ratio of 1.18 and a beta of 1.26. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.68 and a quick ratio of 0.68. The stock’s 50-day simple moving average is $502.58 and its two-hundred day simple moving average is $491.68.

Ameriprise Financial (NYSE:AMP) last issued its quarterly earnings results on Thursday, January 29th. The financial services provider reported $10.83 EPS for the quarter, beating the consensus estimate of $10.33 by $0.50. The company had revenue of $4.90 billion for the quarter, compared to the consensus estimate of $4.75 billion. Ameriprise Financial had a net margin of 19.28% and a return on equity of 63.04%. The firm’s revenue was up 10.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $9.54 EPS. Equities research analysts forecast that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current fiscal year.

Ameriprise Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 27th. Investors of record on Monday, February 9th will be issued a dividend of $1.60 per share. The ex-dividend date is Monday, February 9th. This represents a $6.40 dividend on an annualized basis and a yield of 1.3%. Ameriprise Financial’s payout ratio is presently 17.60%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. SouthState Bank Corp grew its stake in Ameriprise Financial by 78.6% in the 4th quarter. SouthState Bank Corp now owns 50 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 22 shares in the last quarter. Whipplewood Advisors LLC increased its holdings in Ameriprise Financial by 71.0% during the 2nd quarter. Whipplewood Advisors LLC now owns 53 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 22 shares during the period. Salomon & Ludwin LLC raised its position in Ameriprise Financial by 115.4% during the 2nd quarter. Salomon & Ludwin LLC now owns 56 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 30 shares in the last quarter. Winnow Wealth LLC purchased a new stake in shares of Ameriprise Financial in the 2nd quarter worth $32,000. Finally, Holos Integrated Wealth LLC bought a new position in shares of Ameriprise Financial during the 4th quarter worth $30,000. 83.95% of the stock is currently owned by institutional investors.

About Ameriprise Financial

Ameriprise Financial, Inc is a diversified financial services company headquartered in Minneapolis, Minnesota. The firm provides a range of advice-based wealth management, asset management and insurance products to individual and institutional clients. Its business model centers on delivering financial planning and investment advice through a network of financial advisors alongside proprietary product offerings designed to meet retirement, protection and accumulation needs.

Core products and services include comprehensive financial planning and advisory services, managed investment portfolios, retirement planning solutions, annuities and life insurance products.