Ameriprise Financial, Inc. (NYSE:AMP) Short Interest Update

Ameriprise Financial, Inc. (NYSE:AMP) saw a large decrease in short interest during the month of March. As of March 15th, there was short interest totalling 1,160,000 shares, a decrease of 18.9% from the February 28th total of 1,430,000 shares. Approximately 1.2% of the company’s stock are sold short. Based on an average daily trading volume, of 545,700 shares, the days-to-cover ratio is presently 2.1 days.

Analysts Set New Price Targets

AMP has been the subject of a number of research analyst reports. Royal Bank of Canada reaffirmed an “outperform” rating and set a $625.00 price objective on shares of Ameriprise Financial in a research report on Monday, February 3rd. Piper Sandler increased their price target on shares of Ameriprise Financial from $415.00 to $442.00 and gave the company an “underweight” rating in a report on Friday, January 31st. Morgan Stanley boosted their price objective on Ameriprise Financial from $507.00 to $542.00 and gave the stock an “equal weight” rating in a report on Tuesday, March 4th. Keefe, Bruyette & Woods increased their target price on Ameriprise Financial from $560.00 to $570.00 and gave the stock a “market perform” rating in a research note on Monday, February 3rd. Finally, UBS Group downgraded Ameriprise Financial from a “buy” rating to a “neutral” rating and reduced their price target for the company from $580.00 to $570.00 in a research note on Monday, January 6th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Ameriprise Financial has a consensus rating of “Hold” and a consensus price target of $514.89.

Ameriprise Financial Stock Performance

NYSE:AMP opened at $484.54 on Tuesday. The company has a market cap of $46.57 billion, a price-to-earnings ratio of 14.66, a PEG ratio of 1.15 and a beta of 1.33. Ameriprise Financial has a fifty-two week low of $385.74 and a fifty-two week high of $582.05. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.59 and a current ratio of 0.59. The stock has a fifty day moving average price of $523.21 and a 200-day moving average price of $524.01.

Ameriprise Financial (NYSE:AMP) last posted its quarterly earnings data on Wednesday, January 29th. The financial services provider reported $9.36 earnings per share for the quarter, topping the consensus estimate of $9.16 by $0.20. Ameriprise Financial had a net margin of 19.70% and a return on equity of 69.35%. As a group, equities analysts anticipate that Ameriprise Financial will post 38.64 EPS for the current fiscal year.

Ameriprise Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Monday, February 10th were paid a $1.48 dividend. The ex-dividend date was Monday, February 10th. This represents a $5.92 dividend on an annualized basis and a yield of 1.22%. Ameriprise Financial’s dividend payout ratio (DPR) is 17.91%.

Insider Activity

In related news, CEO William F. Truscott sold 6,000 shares of the firm’s stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $540.29, for a total value of $3,241,740.00. Following the completion of the sale, the chief executive officer now directly owns 14,023 shares in the company, valued at approximately $7,576,486.67. This trade represents a 29.97 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Robert Francis Sharpe, Jr. sold 1,000 shares of Ameriprise Financial stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $523.12, for a total value of $523,120.00. Following the transaction, the director now owns 10,000 shares of the company’s stock, valued at $5,231,200. The trade was a 9.09 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 11,636 shares of company stock valued at $6,263,989. 0.73% of the stock is owned by insiders.

Hedge Funds Weigh In On Ameriprise Financial

Hedge funds and other institutional investors have recently modified their holdings of the business. University of Texas Texas AM Investment Management Co. bought a new stake in Ameriprise Financial during the 4th quarter worth $26,000. TCTC Holdings LLC bought a new stake in shares of Ameriprise Financial during the fourth quarter worth about $26,000. Rialto Wealth Management LLC acquired a new position in shares of Ameriprise Financial in the fourth quarter valued at approximately $28,000. Whipplewood Advisors LLC bought a new position in Ameriprise Financial in the 4th quarter valued at approximately $28,000. Finally, Wingate Wealth Advisors Inc. acquired a new stake in Ameriprise Financial during the 4th quarter worth approximately $30,000. Institutional investors 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.