Short Interest in Ameriprise Financial, Inc. (NYSE:AMP) Declines By 6.7%

Ameriprise Financial, Inc. (NYSE:AMP) was the recipient of a large decrease in short interest during the month of September. As of September 30th, there was short interest totalling 1,260,000 shares, a decrease of 6.7% from the September 15th total of 1,350,000 shares. Based on an average trading volume of 472,800 shares, the short-interest ratio is currently 2.7 days. Currently, 1.3% of the shares of the stock are sold short.

Ameriprise Financial Stock Up 0.8 %

AMP stock opened at $521.61 on Friday. Ameriprise Financial has a twelve month low of $306.63 and a twelve month high of $523.60. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 1.16. The company has a market capitalization of $51.81 billion, a P/E ratio of 17.75, a PEG ratio of 0.81 and a beta of 1.35. The firm has a 50 day simple moving average of $455.23 and a 200-day simple moving average of $436.59.

Ameriprise Financial (NYSE:AMP) last released its quarterly earnings data on Wednesday, July 24th. The financial services provider reported $8.72 EPS for the quarter, topping analysts’ consensus estimates of $8.53 by $0.19. The firm had revenue of $4.39 billion during the quarter, compared to the consensus estimate of $4.24 billion. Ameriprise Financial had a net margin of 18.64% and a return on equity of 73.83%. The firm’s revenue was up 9.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $7.44 earnings per share. On average, equities research analysts predict that Ameriprise Financial will post 34.92 earnings per share for the current fiscal year.

Ameriprise Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 16th. Shareholders of record on Monday, August 5th were paid a $1.48 dividend. This represents a $5.92 dividend on an annualized basis and a yield of 1.13%. The ex-dividend date of this dividend was Monday, August 5th. Ameriprise Financial’s payout ratio is 20.15%.

Insiders Place Their Bets

In other Ameriprise Financial news, VP William Davies sold 8,700 shares of the firm’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $442.07, for a total transaction of $3,846,009.00. Following the sale, the vice president now directly owns 13,199 shares of the company’s stock, valued at $5,834,881.93. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.73% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Ameriprise Financial

A number of hedge funds have recently added to or reduced their stakes in AMP. JPMorgan Chase & Co. lifted its stake in Ameriprise Financial by 18.6% in the first quarter. JPMorgan Chase & Co. now owns 3,844,165 shares of the financial services provider’s stock valued at $1,685,436,000 after buying an additional 603,267 shares during the last quarter. Swedbank AB bought a new stake in Ameriprise Financial in the first quarter valued at $108,938,000. Maj Invest Holding A S bought a new stake in Ameriprise Financial in the third quarter valued at $98,742,000. AGF Management Ltd. lifted its stake in Ameriprise Financial by 35.4% in the second quarter. AGF Management Ltd. now owns 504,657 shares of the financial services provider’s stock valued at $215,584,000 after buying an additional 131,844 shares during the last quarter. Finally, TD Asset Management Inc lifted its stake in Ameriprise Financial by 18.8% in the first quarter. TD Asset Management Inc now owns 707,617 shares of the financial services provider’s stock valued at $310,248,000 after buying an additional 111,973 shares during the last quarter. 83.95% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. UBS Group raised their price target on shares of Ameriprise Financial from $490.00 to $555.00 and gave the stock a “buy” rating in a research note on Tuesday, October 8th. The Goldman Sachs Group lowered shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $485.00 to $476.00 in a report on Thursday, September 26th. Morgan Stanley increased their price objective on shares of Ameriprise Financial from $440.00 to $502.00 and gave the stock an “equal weight” rating in a report on Thursday. Piper Sandler cut their price target on shares of Ameriprise Financial from $390.00 to $387.00 and set an “underweight” rating on the stock in a report on Friday, June 28th. Finally, Jefferies Financial Group raised their price target on shares of Ameriprise Financial from $500.00 to $504.00 and gave the company a “buy” rating in a report on Friday, June 28th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $480.44.

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.