Ameriprise Financial (NYSE:AMP) Stock Price Down 4.3%

Ameriprise Financial, Inc. (NYSE:AMP)’s stock price dropped 4.3% during mid-day trading on Tuesday . The company traded as low as $403.31 and last traded at $403.31. Approximately 168,396 shares changed hands during mid-day trading, a decline of 66% from the average daily volume of 489,164 shares. The stock had previously closed at $421.38.

Wall Street Analysts Forecast Growth

AMP has been the subject of a number of research analyst reports. Evercore ISI lifted their target price on shares of Ameriprise Financial from $400.00 to $445.00 and gave the company an “in-line” rating in a research note on Thursday, April 11th. The Goldman Sachs Group lifted their target price on shares of Ameriprise Financial from $437.00 to $488.00 and gave the company a “buy” rating in a research note on Wednesday, March 27th. UBS Group lifted their target price on shares of Ameriprise Financial from $440.00 to $445.00 and gave the company a “buy” rating in a research note on Thursday, January 25th. Raymond James initiated coverage on shares of Ameriprise Financial in a research note on Thursday, March 21st. They issued a “market perform” rating for the company. Finally, Piper Sandler lifted their target price on shares of Ameriprise Financial from $360.00 to $392.00 and gave the company an “underweight” rating in a research note on Friday, April 5th. One research analyst has rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $449.57.

Ameriprise Financial Stock Up 1.3 %

The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.56 and a current ratio of 0.56. The firm’s 50-day moving average is $418.15 and its two-hundred day moving average is $379.98. The stock has a market cap of $41.36 billion, a P/E ratio of 14.05, a PEG ratio of 0.69 and a beta of 1.36.

Ameriprise Financial (NYSE:AMP) last released its earnings results on Wednesday, April 24th. The financial services provider reported $8.39 EPS for the quarter, topping analysts’ consensus estimates of $8.10 by $0.29. Ameriprise Financial had a net margin of 19.42% and a return on equity of 78.98%. The firm had revenue of $4.15 billion during the quarter, compared to analyst estimates of $4.15 billion. During the same quarter in the previous year, the business earned $7.25 EPS. The business’s quarterly revenue was up 10.8% compared to the same quarter last year. On average, equities research analysts anticipate that Ameriprise Financial, Inc. will post 34.43 earnings per share for the current year.

Ameriprise Financial Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 17th. Shareholders of record on Monday, May 6th will be issued a dividend of $1.48 per share. This represents a $5.92 dividend on an annualized basis and a yield of 1.43%. The ex-dividend date is Friday, May 3rd. This is a positive change from Ameriprise Financial’s previous quarterly dividend of $1.35. Ameriprise Financial’s payout ratio is currently 18.38%.

Insiders Place Their Bets

In other news, insider Gumer Alvero sold 1,652 shares of the business’s stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $437.00, for a total value of $721,924.00. Following the completion of the transaction, the insider now owns 6,994 shares of the company’s stock, valued at approximately $3,056,378. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, insider Gumer Alvero sold 1,652 shares of the business’s stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $437.00, for a total value of $721,924.00. Following the completion of the transaction, the insider now owns 6,994 shares of the company’s stock, valued at approximately $3,056,378. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Dawn M. Brockman sold 224 shares of the business’s stock in a transaction on Tuesday, March 26th. The shares were sold at an average price of $434.13, for a total transaction of $97,245.12. Following the completion of the transaction, the senior vice president now directly owns 1,288 shares of the company’s stock, valued at approximately $559,159.44. The disclosure for this sale can be found here. In the last 90 days, insiders sold 89,161 shares of company stock valued at $35,560,647. Company insiders own 0.96% of the company’s stock.

Hedge Funds Weigh In On Ameriprise Financial

Several institutional investors and hedge funds have recently made changes to their positions in the company. Cambridge Investment Research Advisors Inc. boosted its stake in Ameriprise Financial by 1.0% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 7,414 shares of the financial services provider’s stock worth $3,251,000 after purchasing an additional 77 shares during the period. Patton Albertson Miller Group LLC boosted its stake in Ameriprise Financial by 4.8% in the 1st quarter. Patton Albertson Miller Group LLC now owns 16,734 shares of the financial services provider’s stock worth $7,337,000 after purchasing an additional 770 shares during the period. Zhang Financial LLC boosted its stake in Ameriprise Financial by 55.4% in the 1st quarter. Zhang Financial LLC now owns 2,679 shares of the financial services provider’s stock worth $1,174,000 after purchasing an additional 955 shares during the period. Simplicity Wealth LLC acquired a new position in Ameriprise Financial in the 1st quarter worth $1,200,000. Finally, Essex Financial Services Inc. boosted its stake in Ameriprise Financial by 10.5% in the 1st quarter. Essex Financial Services Inc. now owns 654 shares of the financial services provider’s stock worth $287,000 after purchasing an additional 62 shares during the period. Institutional investors and hedge funds own 83.95% of the company’s stock.

Ameriprise Financial Company Profile

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.