Ameriprise Financial, Inc. (NYSE:AMP) CEO William F. Truscott Sells 6,000 Shares

Ameriprise Financial, Inc. (NYSE:AMP) CEO William F. Truscott sold 6,000 shares of the company’s stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $540.29, for a total transaction of $3,241,740.00. Following the sale, the chief executive officer now directly owns 14,023 shares in the company, valued at $7,576,486.67. This trade represents a 29.97 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

Ameriprise Financial Price Performance

AMP opened at $526.80 on Thursday. The firm has a 50-day moving average price of $542.68 and a 200-day moving average price of $504.00. Ameriprise Financial, Inc. has a twelve month low of $385.74 and a twelve month high of $582.05. The company has a quick ratio of 0.65, a current ratio of 0.59 and a debt-to-equity ratio of 1.01. The company has a market capitalization of $51.11 billion, a price-to-earnings ratio of 15.93, a PEG ratio of 1.18 and a beta of 1.36.

Ameriprise Financial (NYSE:AMP) last released its quarterly earnings data on Wednesday, January 29th. The financial services provider reported $9.36 earnings per share 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 expect that Ameriprise Financial, Inc. will post 38.55 EPS for the current year.

Ameriprise Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Monday, February 10th will be issued a $1.48 dividend. This represents a $5.92 annualized dividend and a yield of 1.12%. The ex-dividend date of this dividend is Monday, February 10th. Ameriprise Financial’s payout ratio is 17.91%.

Wall Street Analyst Weigh In

AMP has been the subject of a number of research reports. Royal Bank of Canada restated an “outperform” rating and issued a $625.00 price target on shares of Ameriprise Financial in a report on Monday, February 3rd. Piper Sandler lifted their price target on shares of Ameriprise Financial from $415.00 to $442.00 and gave the company an “underweight” rating in a research report on Friday, January 31st. Morgan Stanley boosted their price target on shares of Ameriprise Financial from $440.00 to $502.00 and gave the company an “equal weight” rating in a research note on Thursday, October 17th. UBS Group lowered shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $580.00 to $570.00 in a research note on Monday, January 6th. Finally, Keefe, Bruyette & Woods boosted their price objective on Ameriprise Financial from $560.00 to $570.00 and gave the stock a “market perform” rating in a report on Monday, February 3rd. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the company. According to MarketBeat.com, Ameriprise Financial has a consensus rating of “Hold” and an average price target of $510.44.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. TCTC Holdings LLC bought a new stake in Ameriprise Financial during the fourth quarter valued at $26,000. Rialto Wealth Management LLC bought a new position in Ameriprise Financial in the 4th quarter worth about $28,000. Whipplewood Advisors LLC purchased a new stake in shares of Ameriprise Financial in the 4th quarter valued at about $28,000. Wingate Wealth Advisors Inc. bought a new stake in shares of Ameriprise Financial during the 4th quarter valued at about $30,000. Finally, Oakworth Capital Inc. purchased a new position in shares of Ameriprise Financial during the third quarter worth about $31,000. 83.95% of the stock is currently owned by hedge funds and other institutional investors.

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.