Ameriprise Financial, Inc. (NYSE:AMP) Sees Large Drop in Short Interest

Ameriprise Financial, Inc. (NYSE:AMP) was the recipient of a large decline in short interest during the month of June. As of June 15th, there was short interest totalling 830,600 shares, a decline of 9.7% from the May 31st total of 919,800 shares. Based on an average daily volume of 459,800 shares, the days-to-cover ratio is currently 1.8 days. Currently, 0.8% of the shares of the stock are short sold.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on AMP shares. 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. The Goldman Sachs Group upped their price objective on Ameriprise Financial from $437.00 to $488.00 and gave the stock a “buy” rating in a report on Wednesday, March 27th. Jefferies Financial Group increased their target price on Ameriprise Financial from $500.00 to $504.00 and gave the stock a “buy” rating in a research report on Friday, June 28th. Evercore ISI boosted their price target on Ameriprise Financial from $400.00 to $445.00 and gave the company an “in-line” rating in a research report on Thursday, April 11th. Finally, Morgan Stanley raised their price objective on Ameriprise Financial from $400.00 to $437.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 9th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, Ameriprise Financial has a consensus rating of “Hold” and an average target price of $456.22.

Insider Activity at Ameriprise Financial

In related news, Director Robert Francis Sharpe, Jr. sold 1,500 shares of the firm’s stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $438.07, for a total transaction of $657,105.00. Following the sale, the director now owns 11,000 shares in the company, valued at $4,818,770. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.96% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Ameriprise Financial

Hedge funds have recently bought and sold shares of the business. Marcum Wealth LLC lifted its position in shares of Ameriprise Financial by 7.4% during the second quarter. Marcum Wealth LLC now owns 565 shares of the financial services provider’s stock worth $241,000 after purchasing an additional 39 shares during the last quarter. GAMMA Investing LLC lifted its holdings in Ameriprise Financial by 243.1% during the 2nd quarter. GAMMA Investing LLC now owns 3,548 shares of the financial services provider’s stock worth $1,516,000 after buying an additional 2,514 shares during the last quarter. Transcend Capital Advisors LLC grew its position in shares of Ameriprise Financial by 6.9% in the 2nd quarter. Transcend Capital Advisors LLC now owns 1,716 shares of the financial services provider’s stock worth $733,000 after acquiring an additional 111 shares in the last quarter. American Trust bought a new stake in shares of Ameriprise Financial in the 1st quarter valued at approximately $350,000. Finally, Railway Pension Investments Ltd raised its position in shares of Ameriprise Financial by 5.8% during the 1st quarter. Railway Pension Investments Ltd now owns 12,800 shares of the financial services provider’s stock valued at $5,612,000 after acquiring an additional 700 shares in the last quarter. Institutional investors and hedge funds own 83.95% of the company’s stock.

Ameriprise Financial Stock Up 0.0 %

Ameriprise Financial stock traded up $0.13 during midday trading on Wednesday, hitting $434.00. 182,807 shares of the company were exchanged, compared to its average volume of 478,530. The company has a market cap of $43.10 billion, a PE ratio of 14.70, a price-to-earnings-growth ratio of 0.73 and a beta of 1.37. Ameriprise Financial has a fifty-two week low of $306.63 and a fifty-two week high of $446.32. The company’s fifty day moving average price is $429.29 and its 200-day moving average price is $411.59. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.56 and a quick ratio of 0.56.

Ameriprise Financial (NYSE:AMP) last posted its quarterly earnings data on Wednesday, April 24th. The financial services provider reported $8.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $8.10 by $0.29. Ameriprise Financial had a net margin of 19.42% and a return on equity of 75.97%. The company had revenue of $4.15 billion for the quarter, compared to analyst estimates of $4.15 billion. During the same quarter last year, the firm posted $7.25 earnings per share. The business’s quarterly revenue was up 10.8% on a year-over-year basis. On average, research analysts predict that Ameriprise Financial will post 34.92 EPS for the current fiscal year.

Ameriprise Financial Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 17th. Investors of record on Monday, May 6th were issued a $1.48 dividend. The ex-dividend date of this dividend was Friday, May 3rd. This represents a $5.92 dividend on an annualized basis and a yield of 1.36%. This is an increase from Ameriprise Financial’s previous quarterly dividend of $1.35. Ameriprise Financial’s dividend payout ratio is currently 20.15%.

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.