Ameriprise Financial (NYSE:AMP) Shares Down 6.4% – Here’s Why

Ameriprise Financial, Inc. (NYSE:AMP)’s share price traded down 6.4% during trading on Tuesday . The company traded as low as $493.79 and last traded at $498.14. 276,498 shares changed hands during mid-day trading, a decline of 39% from the average session volume of 455,621 shares. The stock had previously closed at $531.92.

Wall Street Analyst Weigh In

Several brokerages have commented on AMP. Morgan Stanley lifted their price target on Ameriprise Financial from $507.00 to $542.00 and gave the stock an “equal weight” rating in a research report on Tuesday. Piper Sandler raised their price objective on Ameriprise Financial from $415.00 to $442.00 and gave the stock an “underweight” rating in a research report on Friday, January 31st. UBS Group cut Ameriprise Financial from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $580.00 to $570.00 in a research report on Monday, January 6th. Keefe, Bruyette & Woods raised their target price on Ameriprise Financial from $560.00 to $570.00 and gave the stock a “market perform” rating in a research report on Monday, February 3rd. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $625.00 price target on shares of Ameriprise Financial in a report on Monday, February 3rd. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $514.89.

Ameriprise Financial Trading Down 6.5 %

The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 1.01. The business’s fifty day moving average is $539.80 and its two-hundred day moving average is $516.28. The firm has a market cap of $47.83 billion, a price-to-earnings ratio of 15.05, a price-to-earnings-growth ratio of 1.15 and a beta of 1.36.

Ameriprise Financial (NYSE:AMP) last released its earnings results on Wednesday, January 29th. The financial services provider reported $9.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $9.16 by $0.20. Ameriprise Financial had a net margin of 19.70% and a return on equity of 69.35%. Equities analysts anticipate that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current fiscal year.

Ameriprise Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Monday, February 10th were paid a $1.48 dividend. The ex-dividend date of this dividend was Monday, February 10th. This represents a $5.92 dividend on an annualized basis and a yield of 1.19%. Ameriprise Financial’s payout ratio is presently 17.91%.

Insider Buying and Selling at Ameriprise Financial

In other news, CEO William F. Truscott sold 6,000 shares of the business’s stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $540.29, for a total transaction of $3,241,740.00. Following the completion of the transaction, the chief executive officer now directly owns 14,023 shares in the company, valued at approximately $7,576,486.67. The trade was a 29.97 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Robert Francis Sharpe, Jr. sold 1,000 shares of the stock in a transaction that occurred on Wednesday, February 12th. The shares were sold at an average price of $523.12, for a total transaction of $523,120.00. Following the completion of the sale, the director now owns 10,000 shares in the company, valued at $5,231,200. This represents a 9.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 11,636 shares of company stock worth $6,263,989. Insiders own 0.73% of the company’s stock.

Hedge Funds Weigh In On Ameriprise Financial

Several institutional investors have recently modified their holdings of AMP. Norges Bank acquired a new stake in Ameriprise Financial during the 4th quarter worth approximately $689,272,000. JPMorgan Chase & Co. increased its position in shares of Ameriprise Financial by 12.1% during the fourth quarter. JPMorgan Chase & Co. now owns 4,801,913 shares of the financial services provider’s stock worth $2,556,683,000 after acquiring an additional 516,437 shares in the last quarter. Proficio Capital Partners LLC raised its holdings in shares of Ameriprise Financial by 79,679.4% during the fourth quarter. Proficio Capital Partners LLC now owns 371,772 shares of the financial services provider’s stock worth $197,943,000 after acquiring an additional 371,306 shares during the period. Robeco Institutional Asset Management B.V. lifted its position in Ameriprise Financial by 429.0% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 417,149 shares of the financial services provider’s stock valued at $222,103,000 after acquiring an additional 338,298 shares in the last quarter. Finally, Northern Trust Corp boosted its stake in Ameriprise Financial by 19.8% in the 4th quarter. Northern Trust Corp now owns 1,268,419 shares of the financial services provider’s stock worth $675,344,000 after purchasing an additional 209,549 shares during the period. Institutional investors own 83.95% of the company’s stock.

About Ameriprise Financial

Ameriprise Financial, Inc, together with its subsidiaries, provides various financial products and services to individual and institutional clients in the United States and internationally. It operates through four segments: Advice & Wealth Management, Asset Management, Retirement & Protection Solutions, and Corporate & Other.