Ameriprise Financial (NYSE:AMP) CFO Walter Stanley Berman Sells 7,000 Shares
by Danessa Lincoln · The Markets DailyAmeriprise Financial, Inc. (NYSE:AMP – Get Free Report) CFO Walter Stanley Berman sold 7,000 shares of the stock in a transaction that occurred on Thursday, February 5th. The shares were sold at an average price of $544.22, for a total transaction of $3,809,540.00. Following the sale, the chief financial officer directly owned 5,609 shares of the company’s stock, valued at approximately $3,052,529.98. This trade represents a 55.52% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.
Ameriprise Financial Price Performance
Shares of AMP traded down $3.69 during midday trading on Monday, hitting $539.30. 679,827 shares of the company traded hands, compared to its average volume of 619,455. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.68 and a current ratio of 0.68. The stock has a market cap of $50.10 billion, a price-to-earnings ratio of 14.83, a PEG ratio of 1.27 and a beta of 1.26. Ameriprise Financial, Inc. has a 52 week low of $396.14 and a 52 week high of $552.43. The firm has a 50 day moving average of $499.62 and a 200-day moving average of $491.68.
Ameriprise Financial (NYSE:AMP – Get Free Report) last posted its quarterly earnings data on Thursday, January 29th. The financial services provider reported $10.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $10.33 by $0.50. Ameriprise Financial had a return on equity of 63.04% and a net margin of 19.28%.The business had revenue of $4.90 billion during the quarter, compared to analyst estimates of $4.75 billion. During the same period last year, the company earned $9.54 EPS. The company’s revenue for the quarter was up 10.2% on a year-over-year basis. On average, analysts forecast that Ameriprise Financial, Inc. will post 38.64 EPS for the current fiscal year.
Ameriprise Financial Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Friday, February 27th. Stockholders of record on Monday, February 9th will be issued a $1.60 dividend. The ex-dividend date is Monday, February 9th. This represents a $6.40 annualized dividend and a dividend yield of 1.2%. Ameriprise Financial’s payout ratio is currently 17.60%.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Fidelis Capital Partners LLC boosted its stake in Ameriprise Financial by 8.3% during the fourth quarter. Fidelis Capital Partners LLC now owns 865 shares of the financial services provider’s stock worth $424,000 after buying an additional 66 shares during the period. AlphaQuest LLC boosted its position in shares of Ameriprise Financial by 112.5% during the 4th quarter. AlphaQuest LLC now owns 7,519 shares of the financial services provider’s stock worth $3,687,000 after purchasing an additional 3,981 shares during the period. Kestra Investment Management LLC increased its holdings in Ameriprise Financial by 3.1% in the 4th quarter. Kestra Investment Management LLC now owns 7,741 shares of the financial services provider’s stock valued at $3,796,000 after purchasing an additional 234 shares during the last quarter. Cary Street Partners Financial LLC raised its position in Ameriprise Financial by 5.6% in the fourth quarter. Cary Street Partners Financial LLC now owns 1,730 shares of the financial services provider’s stock valued at $848,000 after purchasing an additional 91 shares during the period. Finally, Allstate Corp raised its position in Ameriprise Financial by 104.7% in the fourth quarter. Allstate Corp now owns 7,740 shares of the financial services provider’s stock valued at $3,795,000 after purchasing an additional 3,958 shares during the period. 83.95% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
Several brokerages recently commented on AMP. Keefe, Bruyette & Woods decreased their price objective on shares of Ameriprise Financial from $550.00 to $530.00 and set a “market perform” rating for the company in a research report on Monday, November 3rd. Morgan Stanley boosted 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. Jefferies Financial Group lifted their price target on Ameriprise Financial from $600.00 to $620.00 and gave the stock a “buy” rating in a research report on Monday, February 2nd. Piper Sandler upgraded Ameriprise Financial from an “underweight” rating to a “neutral” rating and raised their price objective for the stock from $434.00 to $530.00 in a research note on Friday, January 30th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Ameriprise Financial in a research report on Monday, December 29th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $555.67.
Check Out Our Latest Analysis on Ameriprise Financial
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.