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

Ameriprise Financial, Inc. (NYSE:AMP) was the recipient of a large decline in short interest in 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. Currently, 0.8% of the company’s stock are short sold. Based on an average trading volume of 459,800 shares, the short-interest ratio is presently 1.8 days.

Insider Transactions at Ameriprise Financial

In other news, Director Robert Francis Sharpe, Jr. sold 1,500 shares of Ameriprise Financial stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $438.07, for a total value of $657,105.00. Following the transaction, the director now owns 11,000 shares of the company’s stock, valued at approximately $4,818,770. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.96% of the company’s stock.

Institutional Trading of Ameriprise Financial

Several large investors have recently added to or reduced their stakes in AMP. Signaturefd LLC boosted its holdings in Ameriprise Financial by 1.1% in the first quarter. Signaturefd LLC now owns 2,296 shares of the financial services provider’s stock valued at $1,007,000 after purchasing an additional 26 shares during the last quarter. Aua Capital Management LLC grew its position in shares of Ameriprise Financial by 4.7% during the first quarter. Aua Capital Management LLC now owns 604 shares of the financial services provider’s stock worth $265,000 after buying an additional 27 shares in the last quarter. Gratus Wealth Advisors LLC raised its holdings in Ameriprise Financial by 1.5% in the first quarter. Gratus Wealth Advisors LLC now owns 1,887 shares of the financial services provider’s stock valued at $779,000 after acquiring an additional 27 shares in the last quarter. Resonant Capital Advisors LLC boosted its stake in Ameriprise Financial by 4.7% during the 1st quarter. Resonant Capital Advisors LLC now owns 619 shares of the financial services provider’s stock valued at $271,000 after acquiring an additional 28 shares during the last quarter. Finally, PDS Planning Inc grew its holdings in Ameriprise Financial by 3.7% during the 1st quarter. PDS Planning Inc now owns 775 shares of the financial services provider’s stock worth $340,000 after acquiring an additional 28 shares in the last quarter. 83.95% of the stock is currently owned by institutional investors and hedge funds.

Ameriprise Financial Price Performance

Shares of AMP traded up $0.13 during trading hours on Wednesday, reaching $434.00. 182,807 shares of the company traded hands, compared to its average volume of 478,530. The stock has a fifty day simple moving average of $429.29 and a 200 day simple moving average of $411.59. Ameriprise Financial has a fifty-two week low of $306.63 and a fifty-two week high of $446.32. The stock has a market capitalization 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. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 1.13.

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, topping the consensus estimate of $8.10 by $0.29. The business had revenue of $4.15 billion for the quarter, compared to analysts’ expectations of $4.15 billion. Ameriprise Financial had a return on equity of 75.97% and a net margin of 19.42%. During the same quarter last year, the firm earned $7.25 earnings per share. The business’s revenue was up 10.8% on a year-over-year basis. As a group, 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. Shareholders of record on Monday, May 6th were given a dividend of $1.48 per share. This represents a $5.92 dividend on an annualized basis and a yield of 1.36%. This is a boost from Ameriprise Financial’s previous quarterly dividend of $1.35. The ex-dividend date was Friday, May 3rd. Ameriprise Financial’s payout ratio is 20.15%.

Analyst Upgrades and Downgrades

AMP has been the subject of a number of research analyst reports. Keefe, Bruyette & Woods increased their target price on Ameriprise Financial from $420.00 to $460.00 and gave the company a “market perform” rating in a report on Wednesday, April 10th. Jefferies Financial Group increased their price objective 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. Royal Bank of Canada upped their target price on Ameriprise Financial from $470.00 to $480.00 and gave the company an “outperform” rating in a report on Wednesday, April 24th. Morgan Stanley boosted their target price on shares of Ameriprise Financial from $400.00 to $437.00 and gave the company an “equal weight” rating in a report on Tuesday, April 9th. Finally, Argus boosted their price objective on shares of Ameriprise Financial from $440.00 to $460.00 and gave the company a “buy” rating in a report on Monday, May 6th. One analyst has rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the company. According to MarketBeat.com, Ameriprise Financial has an average rating of “Hold” and an average target price of $456.22.

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.