Ameriprise Financial (NYSE:AMP) Trading Down 6.4% – Time to Sell?

Ameriprise Financial, Inc. (NYSE:AMP) was down 6.4% during trading on Tuesday . The stock traded as low as $493.79 and last traded at $498.14. Approximately 276,498 shares were traded during trading, a decline of 39% from the average daily volume of 455,621 shares. The stock had previously closed at $531.92.

Analyst Upgrades and Downgrades

AMP has been the topic of several analyst reports. Royal Bank of Canada reaffirmed an “outperform” rating and set a $625.00 target price on shares of Ameriprise Financial in a report on Monday, February 3rd. Morgan Stanley upped their price objective on shares of Ameriprise Financial from $507.00 to $542.00 and gave the company an “equal weight” rating in a report on Tuesday. Keefe, Bruyette & Woods lifted their price target on shares of Ameriprise Financial from $560.00 to $570.00 and gave the company a “market perform” rating in a research report on Monday, February 3rd. Piper Sandler increased their target price on shares of Ameriprise Financial from $415.00 to $442.00 and gave the stock an “underweight” rating in a report on Friday, January 31st. Finally, UBS Group downgraded 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 report on Monday, January 6th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $514.89.

Ameriprise Financial Stock Performance

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 stock has a fifty day moving average price of $539.80 and a 200-day moving average price of $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 posted its quarterly earnings results 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 return on equity of 69.35% and a net margin of 19.70%. On average, analysts expect that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current fiscal year.

Ameriprise Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Monday, February 10th were issued 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 dividend yield of 1.19%. Ameriprise Financial’s dividend payout ratio is presently 17.91%.

Insider Activity

In related news, Director Robert Francis Sharpe, Jr. sold 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 12th. The shares were sold at an average price of $523.12, for a total value of $523,120.00. Following the sale, the director now directly owns 10,000 shares of the company’s stock, valued at approximately $5,231,200. This trade represents a 9.09 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO William F. Truscott sold 6,000 shares of Ameriprise Financial 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 transaction, the chief executive officer now owns 14,023 shares in the company, valued at $7,576,486.67. The trade was a 29.97 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 11,636 shares of company stock worth $6,263,989. Company insiders own 0.73% 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 business. University of Texas Texas AM Investment Management Co. bought a new stake in Ameriprise Financial during the fourth quarter valued at $26,000. TCTC Holdings LLC acquired a new stake in shares of Ameriprise Financial during the fourth quarter valued at approximately $26,000. Rialto Wealth Management LLC acquired a new position in shares of Ameriprise Financial in the 4th quarter valued at about $28,000. Whipplewood Advisors LLC acquired a new position in shares of Ameriprise Financial in the fourth quarter worth $28,000. Finally, Wingate Wealth Advisors Inc. acquired a new stake in shares of Ameriprise Financial during the 4th quarter valued at about $30,000. 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.