Ameriprise Financial (NYSE:AMP) Issues Quarterly Earnings Results

Ameriprise Financial (NYSE:AMP) announced its quarterly earnings data on Thursday. The financial services provider reported $11.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $10.60 by $0.66, FiscalAI reports. Ameriprise Financial had a net margin of 19.28% and a return on equity of 63.04%. The company had revenue of $4.77 billion during the quarter, compared to analysts’ expectations of $4.82 billion.

Ameriprise Financial Stock Performance

NYSE:AMP traded down $8.82 during mid-day trading on Thursday, reaching $459.69. The stock had a trading volume of 769,421 shares, compared to its average volume of 690,394. The business has a 50 day simple moving average of $454.90 and a 200 day simple moving average of $474.88. The firm has a market capitalization of $41.91 billion, a price-to-earnings ratio of 12.64, a PEG ratio of 1.13 and a beta of 1.27. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.68 and a current ratio of 0.68. Ameriprise Financial has a twelve month low of $422.37 and a twelve month high of $550.18.

Ameriprise Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 27th. Stockholders of record on Monday, February 9th were paid a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date was Monday, February 9th. Ameriprise Financial’s payout ratio is 17.60%.

Insider Buying and Selling

In other Ameriprise Financial news, CEO William F. Truscott sold 5,000 shares of the stock in a transaction dated Tuesday, February 10th. The shares were sold at an average price of $532.08, for a total value of $2,660,400.00. Following the completion of the transaction, the chief executive officer directly owned 12,149 shares of the company’s stock, valued at approximately $6,464,239.92. This trade represents a 29.16% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Walter Stanley Berman sold 7,000 shares of Ameriprise Financial stock in a transaction that occurred on Thursday, February 5th. The shares were sold at an average price of $544.22, for a total transaction of $3,809,540.00. Following the sale, the chief financial officer owned 5,609 shares of the company’s stock, valued at approximately $3,052,529.98. The trade was a 55.52% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 16,658 shares of company stock valued at $8,998,675. Corporate insiders own 0.60% of the company’s stock.

Institutional Investors Weigh In On Ameriprise Financial

Institutional investors and hedge funds have recently made changes to their positions in the business. State Street Corp raised its holdings in shares of Ameriprise Financial by 0.4% in the third quarter. State Street Corp now owns 4,420,072 shares of the financial services provider’s stock worth $2,171,360,000 after acquiring an additional 18,879 shares during the last quarter. Boston Partners increased its position in Ameriprise Financial by 1.1% during the 3rd quarter. Boston Partners now owns 1,193,048 shares of the financial services provider’s stock worth $586,083,000 after purchasing an additional 13,172 shares in the last quarter. AQR Capital Management LLC increased its position in Ameriprise Financial by 84.2% during the 4th quarter. AQR Capital Management LLC now owns 1,085,889 shares of the financial services provider’s stock worth $532,455,000 after purchasing an additional 496,319 shares in the last quarter. Federated Hermes Inc. raised its stake in Ameriprise Financial by 0.7% in the 4th quarter. Federated Hermes Inc. now owns 973,097 shares of the financial services provider’s stock valued at $477,148,000 after purchasing an additional 6,934 shares during the last quarter. Finally, First Trust Advisors LP raised its stake in Ameriprise Financial by 85.5% in the 4th quarter. First Trust Advisors LP now owns 828,437 shares of the financial services provider’s stock valued at $406,216,000 after purchasing an additional 381,754 shares during the last quarter. 83.95% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have issued reports on AMP shares. BMO Capital Markets reissued a “market perform” rating on shares of Ameriprise Financial in a research note on Tuesday, March 3rd. Jefferies Financial Group lifted their target price on Ameriprise Financial from $600.00 to $620.00 and gave the company a “buy” rating in a research report on Monday, February 2nd. Keefe, Bruyette & Woods started coverage on Ameriprise Financial in a research report on Friday, April 10th. They set a “hold” rating on the stock. Royal Bank Of Canada restated an “outperform” rating and set a $605.00 target price (up from $580.00) on shares of Ameriprise Financial in a research note on Monday, February 2nd. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Ameriprise Financial in a research report on Monday, December 29th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $544.22.

Ameriprise Financial Company Profile

Ameriprise Financial, Inc is a diversified financial services company headquartered in Minneapolis, Minnesota. The firm provides a range of advice-based wealth management, asset management and insurance products to individual and institutional clients. Its business model centers on delivering financial planning and investment advice through a network of financial advisors alongside proprietary product offerings designed to meet retirement, protection and accumulation needs.

Core products and services include comprehensive financial planning and advisory services, managed investment portfolios, retirement planning solutions, annuities and life insurance products.