Ameriprise Financial, Inc. (NYSE:AMP) Sees Significant Decrease in Short Interest

Ameriprise Financial, Inc. (NYSE:AMP) saw a significant drop in short interest during the month of January. As of January 31st, there was short interest totalling 1,060,000 shares, a drop of 6.2% from the January 15th total of 1,130,000 shares. Based on an average daily volume of 501,800 shares, the days-to-cover ratio is currently 2.1 days. Currently, 1.1% of the shares of the company are short sold.

Analysts Set New Price Targets

A number of research analysts recently weighed in on AMP shares. Royal Bank of Canada restated an “outperform” rating and set a $625.00 target price on shares of Ameriprise Financial in a research note on Monday, February 3rd. Keefe, Bruyette & Woods lifted their target price on shares of Ameriprise Financial from $560.00 to $570.00 and gave the company a “market perform” rating in a research note on Monday, February 3rd. Piper Sandler lifted their target price on shares of Ameriprise Financial from $415.00 to $442.00 and gave the company an “underweight” rating in a research note on Friday, January 31st. Finally, UBS Group cut shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and lowered their target price for the company from $580.00 to $570.00 in a research note on Monday, January 6th. One analyst has rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $510.44.

Ameriprise Financial Stock Performance

Shares of NYSE AMP opened at $546.69 on Tuesday. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.65 and a current ratio of 0.59. The company has a market cap of $53.03 billion, a P/E ratio of 16.54, a P/E/G ratio of 1.18 and a beta of 1.36. The firm’s fifty day moving average is $541.20 and its two-hundred day moving average is $506.25. Ameriprise Financial has a 52-week low of $385.74 and a 52-week high of $582.05.

Ameriprise Financial (NYSE:AMP) last announced its quarterly earnings results on Wednesday, January 29th. The financial services provider reported $9.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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, analysts anticipate that Ameriprise Financial will post 38.55 EPS for the current fiscal year.

Ameriprise Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Monday, February 10th will be issued a $1.48 dividend. The ex-dividend date is Monday, February 10th. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.08%. Ameriprise Financial’s dividend payout ratio (DPR) is presently 17.91%.

Insider Buying and Selling

In other news, Director Robert Francis Sharpe, Jr. sold 1,000 shares of Ameriprise Financial stock in a transaction on Wednesday, February 12th. The shares were sold at an average price of $523.12, for a total transaction of $523,120.00. Following the transaction, the director now owns 10,000 shares in the company, valued at $5,231,200. This trade represents a 9.09 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO William F. Truscott sold 6,000 shares of Ameriprise Financial stock in a transaction on Thursday, February 6th. The stock was 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. This represents a 29.97 % decrease in their position. The disclosure for this sale can be found here. 0.73% of the stock is currently owned by corporate insiders.

Institutional Trading of Ameriprise Financial

A number of large investors have recently made changes to their positions in AMP. Exchange Traded Concepts LLC bought a new stake in shares of Ameriprise Financial in the 3rd quarter worth about $108,000. Creative Planning increased its holdings in shares of Ameriprise Financial by 1.6% in the 3rd quarter. Creative Planning now owns 22,571 shares of the financial services provider’s stock worth $10,604,000 after buying an additional 348 shares during the last quarter. Howard Capital Management Group LLC increased its holdings in shares of Ameriprise Financial by 11.1% in the 3rd quarter. Howard Capital Management Group LLC now owns 1,787 shares of the financial services provider’s stock worth $840,000 after buying an additional 178 shares during the last quarter. Blue Trust Inc. increased its holdings in shares of Ameriprise Financial by 15.5% in the 3rd quarter. Blue Trust Inc. now owns 1,831 shares of the financial services provider’s stock worth $782,000 after buying an additional 246 shares during the last quarter. Finally, Raymond James & Associates increased its holdings in shares of Ameriprise Financial by 3.1% in the 3rd quarter. Raymond James & Associates now owns 159,215 shares of the financial services provider’s stock worth $74,801,000 after buying an additional 4,859 shares during the last quarter. 83.95% of the stock is currently owned by 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.