Ameriprise Financial, Inc. (NYSE:AMP) Short Interest Down 7.2% in March

Ameriprise Financial, Inc. (NYSE:AMP) saw a significant decline in short interest in the month of March. As of March 31st, there was short interest totalling 901,300 shares, a decline of 7.2% from the March 15th total of 970,900 shares. Based on an average daily trading volume, of 477,400 shares, the days-to-cover ratio is currently 1.9 days. Currently, 0.9% of the company’s shares are sold short.

Ameriprise Financial Trading Up 0.2 %

Shares of NYSE AMP opened at $411.77 on Thursday. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 1.17. The stock’s 50 day moving average price is $416.13 and its two-hundred day moving average price is $376.75. Ameriprise Financial has a 52-week low of $279.85 and a 52-week high of $440.67. The stock has a market capitalization of $41.26 billion, a P/E ratio of 17.37, a PEG ratio of 0.68 and a beta of 1.36.

Ameriprise Financial (NYSE:AMP) last posted its quarterly earnings results on Thursday, January 25th. The financial services provider reported $7.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.67 by $0.08. The business had revenue of $3.99 billion for the quarter, compared to analyst estimates of $3.90 billion. Ameriprise Financial had a return on equity of 77.39% and a net margin of 16.27%. The business’s revenue was up 9.0% compared to the same quarter last year. During the same period in the prior year, the company posted $6.94 EPS. On average, analysts anticipate that Ameriprise Financial will post 34.43 earnings per share for the current fiscal year.

Ameriprise Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, February 27th. Stockholders of record on Friday, February 9th were issued a $1.35 dividend. This represents a $5.40 annualized dividend and a dividend yield of 1.31%. The ex-dividend date of this dividend was Thursday, February 8th. Ameriprise Financial’s dividend payout ratio (DPR) is presently 22.78%.

Insiders Place Their Bets

In other news, CFO Walter Stanley Berman sold 13,346 shares of the firm’s stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $387.81, for a total value of $5,175,712.26. Following the transaction, the chief financial officer now owns 6,409 shares of the company’s stock, valued at approximately $2,485,474.29. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CFO Walter Stanley Berman sold 13,346 shares of the company’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $387.81, for a total value of $5,175,712.26. Following the completion of the sale, the chief financial officer now owns 6,409 shares of the company’s stock, valued at $2,485,474.29. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO William F. Truscott sold 9,689 shares of the stock in a transaction dated Friday, January 26th. The shares were sold at an average price of $390.22, for a total value of $3,780,841.58. Following the completion of the sale, the chief executive officer now owns 12,126 shares of the company’s stock, valued at approximately $4,731,807.72. The disclosure for this sale can be found here. Insiders sold a total of 89,161 shares of company stock worth $35,560,647 over the last ninety days. 0.96% of the stock is owned by company insiders.

Institutional Investors Weigh In On Ameriprise Financial

A number of institutional investors have recently modified their holdings of AMP. Annapolis Financial Services LLC boosted its stake in Ameriprise Financial by 928.6% in the first quarter. Annapolis Financial Services LLC now owns 72 shares of the financial services provider’s stock valued at $32,000 after acquiring an additional 65 shares during the period. Sound Income Strategies LLC bought a new stake in shares of Ameriprise Financial in the 1st quarter worth approximately $32,000. OFI Invest Asset Management acquired a new position in Ameriprise Financial during the 3rd quarter valued at approximately $25,000. Financial Freedom LLC bought a new position in Ameriprise Financial during the 4th quarter worth $27,000. Finally, Turtle Creek Wealth Advisors LLC acquired a new stake in Ameriprise Financial in the fourth quarter worth $34,000. Institutional investors own 83.95% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on AMP shares. Keefe, Bruyette & Woods upped their target price on shares of Ameriprise Financial from $420.00 to $460.00 and gave the company a “market perform” rating in a research note on Wednesday, April 10th. Raymond James started coverage on shares of Ameriprise Financial in a report on Thursday, March 21st. They issued a “market perform” rating on the stock. Royal Bank of Canada raised their target price on Ameriprise Financial from $410.00 to $420.00 and gave the company an “outperform” rating in a research note on Monday, January 22nd. The Goldman Sachs Group boosted their price target on Ameriprise Financial from $437.00 to $488.00 and gave the stock a “buy” rating in a research note on Wednesday, March 27th. Finally, Piper Sandler raised their price objective on Ameriprise Financial from $360.00 to $392.00 and gave the company an “underweight” rating in a research note on Friday, April 5th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $441.00.

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.