Ameriprise Financial, Inc. (NYSE:AMP) Short Interest Update

Ameriprise Financial, Inc. (NYSE:AMP) saw a significant drop in short interest in September. As of September 30th, there was short interest totalling 1,260,000 shares, a drop of 6.7% from the September 15th total of 1,350,000 shares. Based on an average daily trading volume, of 472,800 shares, the days-to-cover ratio is presently 2.7 days. Approximately 1.3% of the shares of the stock are short sold.

Insider Activity

In other news, VP William Davies sold 8,700 shares of the firm’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $442.07, for a total value of $3,846,009.00. Following the completion of the sale, the vice president now directly owns 13,199 shares in the company, valued at approximately $5,834,881.93. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 0.73% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. EP Wealth Advisors LLC boosted its stake in Ameriprise Financial by 6.1% in the 4th quarter. EP Wealth Advisors LLC now owns 1,648 shares of the financial services provider’s stock valued at $626,000 after purchasing an additional 95 shares during the period. Wellington Management Group LLP increased its holdings in Ameriprise Financial by 11.4% in the 4th quarter. Wellington Management Group LLP now owns 6,158 shares of the financial services provider’s stock worth $2,339,000 after purchasing an additional 630 shares in the last quarter. HighPoint Advisor Group LLC acquired a new position in Ameriprise Financial in the 4th quarter worth about $1,029,000. Nomura Holdings Inc. acquired a new position in Ameriprise Financial in the 4th quarter worth about $775,000. Finally, Confluence Investment Management LLC acquired a new stake in shares of Ameriprise Financial in the first quarter valued at about $210,000. Institutional investors and hedge funds own 83.95% of the company’s stock.

Ameriprise Financial Stock Up 0.9 %

Ameriprise Financial stock traded up $4.77 during midday trading on Thursday, reaching $522.34. The stock had a trading volume of 119,153 shares, compared to its average volume of 470,509. The firm’s fifty day simple moving average is $452.81 and its 200-day simple moving average is $435.99. Ameriprise Financial has a 1-year low of $306.63 and a 1-year high of $523.57. The stock has a market capitalization of $51.88 billion, a P/E ratio of 17.74, a price-to-earnings-growth ratio of 0.81 and a beta of 1.35. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.59 and a current ratio of 0.59.

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

Ameriprise Financial Announces Dividend

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

Analyst Upgrades and Downgrades

A number of analysts recently commented on AMP shares. Piper Sandler lowered their price objective on Ameriprise Financial from $390.00 to $387.00 and set an “underweight” rating for the company in a research report on Friday, June 28th. Keefe, Bruyette & Woods upgraded Ameriprise Financial from a “hold” rating to a “strong-buy” rating in a research report on Thursday, October 10th. Morgan Stanley raised their target price on Ameriprise Financial from $440.00 to $502.00 and gave the stock an “equal weight” rating in a report on Thursday. Jefferies Financial Group raised their target price on Ameriprise Financial from $500.00 to $504.00 and gave the stock a “buy” rating in a report on Friday, June 28th. Finally, The Goldman Sachs Group cut Ameriprise Financial from a “buy” rating to a “neutral” rating and cut their price objective for the company from $485.00 to $476.00 in a report on Thursday, September 26th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $480.44.

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.