Gerard P. Smyth Sells 970 Shares of Ameriprise Financial, Inc. (NYSE:AMP) Stock

Ameriprise Financial, Inc. (NYSE:AMP) EVP Gerard P. Smyth sold 970 shares of the business’s stock in a transaction on Thursday, April 29th. The stock was sold at an average price of $259.64, for a total transaction of $251,850.80. Following the completion of the sale, the executive vice president now owns 13,969 shares in the company, valued at approximately $3,626,911.16. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

NYSE:AMP traded down $0.55 during mid-day trading on Monday, hitting $257.85. 748,054 shares of the stock traded hands, compared to its average volume of 710,968. The stock has a market capitalization of $30.07 billion, a price-to-earnings ratio of 18.47 and a beta of 1.74. Ameriprise Financial, Inc. has a 52 week low of $106.78 and a 52 week high of $261.84. The firm’s 50 day moving average is $239.45 and its two-hundred day moving average is $207.37. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.78.

Ameriprise Financial (NYSE:AMP) last issued its quarterly earnings results on Sunday, April 25th. The financial services provider reported $5.43 EPS for the quarter, beating the consensus estimate of $4.73 by $0.70. The company had revenue of $3.35 billion for the quarter, compared to the consensus estimate of $3.23 billion. Ameriprise Financial had a net margin of 15.16% and a return on equity of 33.79%. The firm’s revenue was up 11.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $5.41 EPS. As a group, research analysts predict that Ameriprise Financial, Inc. will post 14.05 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, May 21st. Investors of record on Monday, May 10th will be issued a dividend of $1.13 per share. This represents a $4.52 annualized dividend and a yield of 1.75%. This is an increase from Ameriprise Financial’s previous quarterly dividend of $1.04. The ex-dividend date of this dividend is Friday, May 7th. Ameriprise Financial’s dividend payout ratio is presently 25.84%.

AMP has been the topic of several research analyst reports. Royal Bank of Canada boosted their price target on shares of Ameriprise Financial from $270.00 to $295.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 28th. Piper Sandler boosted their target price on shares of Ameriprise Financial from $215.00 to $221.00 and gave the stock an “overweight” rating in a report on Wednesday, January 6th. Citigroup boosted their target price on shares of Ameriprise Financial from $245.00 to $265.00 in a report on Wednesday, March 31st. Morgan Stanley boosted their target price on shares of Ameriprise Financial from $220.00 to $236.00 and gave the stock an “equal weight” rating in a report on Monday. Finally, Barclays boosted their target price on shares of Ameriprise Financial from $245.00 to $265.00 and gave the stock an “overweight” rating in a report on Monday, April 19th. Two analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Ameriprise Financial presently has a consensus rating of “Buy” and an average price target of $221.82.

Large investors have recently modified their holdings of the stock. CVA Family Office LLC purchased a new stake in Ameriprise Financial in the 1st quarter valued at about $28,000. Arlington Partners LLC purchased a new stake in Ameriprise Financial in the 4th quarter valued at about $25,000. Regent Peak Wealth Advisors LLC purchased a new stake in Ameriprise Financial in the 4th quarter valued at about $26,000. International Assets Investment Management LLC purchased a new stake in Ameriprise Financial in the 4th quarter valued at about $28,000. Finally, Inspire Advisors LLC purchased a new stake in Ameriprise Financial in the 4th quarter valued at about $29,000. Institutional investors own 83.05% of the company’s stock.

About Ameriprise Financial

Ameriprise Financial, Inc, through 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.

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