Ameriprise Financial (NYSE:AMP) EVP Gerard Smyth Sells 6,255 Shares

Ameriprise Financial, Inc. (NYSE:AMP) EVP Gerard Smyth sold 6,255 shares of the business’s stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $472.52, for a total value of $2,955,612.60. Following the sale, the executive vice president owned 6,103 shares in the company, valued at approximately $2,883,789.56. The trade was a 50.61% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Ameriprise Financial Stock Up 0.2%

Shares of AMP traded up $0.88 during trading hours on Monday, reaching $471.26. The company’s stock had a trading volume of 428,461 shares, compared to its average volume of 677,051. The firm has a market cap of $42.36 billion, a price-to-earnings ratio of 11.72, a P/E/G ratio of 1.11 and a beta of 1.20. Ameriprise Financial, Inc. has a 1-year low of $422.37 and a 1-year high of $550.18. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 0.90. The company has a 50 day moving average of $454.50 and a two-hundred day moving average of $473.59.

Ameriprise Financial (NYSE:AMP) last issued its earnings results on Thursday, April 23rd. The financial services provider reported $11.26 earnings per share for the quarter, beating analysts’ consensus estimates of $10.21 by $1.05. The company had revenue of $4.77 billion for the quarter, compared to the consensus estimate of $4.82 billion. Ameriprise Financial had a return on equity of 62.88% and a net margin of 20.57%.The firm’s quarterly revenue was up 9.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $9.50 EPS. As a group, research analysts predict that Ameriprise Financial, Inc. will post 42.63 EPS for the current fiscal year.

Ameriprise Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 22nd. Investors of record on Monday, May 4th will be issued a $1.70 dividend. This is an increase from Ameriprise Financial’s previous quarterly dividend of $1.60. This represents a $6.80 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date is Monday, May 4th. Ameriprise Financial’s dividend payout ratio is currently 16.91%.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. AE Wealth Management LLC increased its stake in shares of Ameriprise Financial by 104.2% in the third quarter. AE Wealth Management LLC now owns 3,962 shares of the financial services provider’s stock valued at $1,946,000 after buying an additional 2,022 shares in the last quarter. National Pension Service increased its stake in shares of Ameriprise Financial by 4.6% in the third quarter. National Pension Service now owns 152,980 shares of the financial services provider’s stock valued at $75,151,000 after buying an additional 6,724 shares in the last quarter. Optimize Financial Inc acquired a new stake in shares of Ameriprise Financial in the third quarter valued at $453,000. Arjuna Capital increased its stake in shares of Ameriprise Financial by 14.6% in the third quarter. Arjuna Capital now owns 12,613 shares of the financial services provider’s stock valued at $6,196,000 after buying an additional 1,610 shares in the last quarter. Finally, Candriam S.C.A. increased its stake in shares of Ameriprise Financial by 83.9% in the third quarter. Candriam S.C.A. now owns 63,839 shares of the financial services provider’s stock valued at $31,361,000 after buying an additional 29,116 shares in the last quarter. 83.95% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on AMP. Morgan Stanley upped their target price on Ameriprise Financial from $452.00 to $467.00 and gave the stock an “underweight” rating in a research report on Thursday, April 30th. Jefferies Financial Group increased their price objective on Ameriprise Financial from $600.00 to $620.00 and gave the company a “buy” rating in a research report on Monday, February 2nd. Royal Bank Of Canada reissued an “outperform” rating and issued a $605.00 price objective (up from $580.00) on shares of Ameriprise Financial in a research report on Monday, February 2nd. BMO Capital Markets increased their price objective on Ameriprise Financial from $470.00 to $490.00 and gave the company a “market perform” rating in a research report on Friday, April 24th. Finally, Keefe, Bruyette & Woods assumed coverage on Ameriprise Financial in a research report on Friday, April 10th. They issued a “hold” rating for the company. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $543.22.

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.