Ameriprise Financial, Inc. (NYSE:AMP) Insider Gumer Alvero Sells 1,652 Shares

Ameriprise Financial, Inc. (NYSE:AMP) insider Gumer Alvero sold 1,652 shares of the firm’s stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $437.00, for a total transaction of $721,924.00. Following the completion of the transaction, the insider now directly owns 6,994 shares of the company’s stock, valued at $3,056,378. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

Gumer Alvero also recently made the following trade(s):

• On Thursday, February 22nd, Gumer Alvero sold 385 shares of Ameriprise Financial stock. The stock was sold at an average price of $400.98, for a total transaction of $154,377.30.

Ameriprise Financial Trading Up 0.6 %

Shares of NYSE AMP traded up $2.46 during midday trading on Friday, hitting $438.44. 446,250 shares of the company traded hands, compared to its average volume of 528,177. Ameriprise Financial, Inc. has a 12-month low of $279.85 and a 12-month high of $440.64. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.56 and a current ratio of 0.56. The stock has a 50-day moving average price of $405.75 and a 200 day moving average price of $368.06. The firm has a market cap of $43.93 billion, a P/E ratio of 18.49, a P/E/G ratio of 0.81 and a beta of 1.36.

Ameriprise Financial (NYSE:AMP) last announced 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. Ameriprise Financial had a net margin of 16.27% and a return on equity of 77.39%. The company had revenue of $3.99 billion for the quarter, compared to analysts’ expectations of $3.90 billion. During the same quarter in the previous year, the company earned $6.94 earnings per share. Ameriprise Financial’s quarterly revenue was up 9.0% on a year-over-year basis. As a group, analysts expect that Ameriprise Financial, Inc. will post 34.2 earnings per share for the current year.

Ameriprise Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, February 27th. Investors of record on Friday, February 9th were paid a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a yield of 1.23%. The ex-dividend date of this dividend was Thursday, February 8th. Ameriprise Financial’s payout ratio is currently 22.78%.

Analyst Ratings Changes

A number of equities analysts recently commented on AMP shares. Evercore ISI cut shares of Ameriprise Financial from an “outperform” rating to an “in-line” rating and lifted their target price for the stock from $385.00 to $400.00 in a research report on Thursday, January 4th. Royal Bank of Canada boosted their price objective on shares of Ameriprise Financial from $410.00 to $420.00 and gave the company an “outperform” rating in a research report on Monday, January 22nd. The Goldman Sachs Group boosted their price objective on shares of Ameriprise Financial from $437.00 to $488.00 and gave the company a “buy” rating in a research report on Wednesday. Raymond James began coverage on shares of Ameriprise Financial in a research report on Thursday, March 21st. They issued a “market perform” rating on the stock. Finally, Morgan Stanley boosted their price objective on shares of Ameriprise Financial from $394.00 to $400.00 and gave the company an “equal weight” rating in a research report on Monday, January 29th. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, Ameriprise Financial has an average rating of “Hold” and a consensus target price of $428.83.

Institutional Investors Weigh In On Ameriprise Financial

Several hedge funds have recently bought and sold shares of AMP. Moneta Group Investment Advisors LLC boosted its stake in Ameriprise Financial by 106,308.4% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 1,587,613 shares of the financial services provider’s stock worth $494,335,000 after acquiring an additional 1,586,121 shares in the last quarter. Norges Bank bought a new stake in Ameriprise Financial during the fourth quarter worth about $514,539,000. First Trust Advisors LP boosted its stake in Ameriprise Financial by 1,001.2% during the fourth quarter. First Trust Advisors LP now owns 564,110 shares of the financial services provider’s stock worth $214,266,000 after acquiring an additional 512,884 shares in the last quarter. Nuveen Asset Management LLC boosted its stake in Ameriprise Financial by 29.7% during the second quarter. Nuveen Asset Management LLC now owns 1,673,748 shares of the financial services provider’s stock worth $555,952,000 after acquiring an additional 382,811 shares in the last quarter. Finally, TD Asset Management Inc boosted its stake in Ameriprise Financial by 151.5% during the fourth quarter. TD Asset Management Inc now owns 595,644 shares of the financial services provider’s stock worth $226,243,000 after acquiring an additional 358,780 shares in the last quarter. Institutional investors own 83.95% of the company’s stock.

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.