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

by · The Cerbat Gem

Ameriprise Financial, Inc. (NYSE:AMP – Get Free Report) saw a significant decrease in short interest in 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. Currently, 1.3% of the company’s shares are sold short. Based on an average daily trading volume, of 472,800 shares, the days-to-cover ratio is currently 2.7 days.

Analyst Upgrades and Downgrades

AMP has been the topic of a number of research reports. The Goldman Sachs Group downgraded Ameriprise Financial from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $485.00 to $476.00 in a report on Thursday, September 26th. Royal Bank of Canada increased their price objective on Ameriprise Financial from $500.00 to $535.00 and gave the stock an “outperform” rating in a report on Friday, October 11th. Keefe, Bruyette & Woods upgraded Ameriprise Financial from a “hold” rating to a “strong-buy” rating in a report on Thursday, October 10th. Piper Sandler dropped their price objective on Ameriprise Financial from $390.00 to $387.00 and set an “underweight” rating on the stock in a report on Friday, June 28th. Finally, UBS Group upped their target price on Ameriprise Financial from $490.00 to $555.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $480.44.

View Our Latest Stock Analysis on AMP

Insider Buying and Selling at Ameriprise Financial

In other news, VP William Davies sold 8,700 shares of the company’s stock in a transaction dated 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 transaction, the vice president now owns 13,199 shares in the company, valued at $5,834,881.93. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.73% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Retirement Group LLC acquired a new position in Ameriprise Financial during the first quarter worth $25,000. DiNuzzo Private Wealth Inc. raised its stake in Ameriprise Financial by 268.8% during the second quarter. DiNuzzo Private Wealth Inc. now owns 59 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 43 shares in the last quarter. Accordant Advisory Group Inc acquired a new position in Ameriprise Financial during the second quarter worth $26,000. Redmont Wealth Advisors LLC acquired a new stake in shares of Ameriprise Financial in the first quarter valued at $28,000. Finally, Mascoma Wealth Management LLC increased its stake in shares of Ameriprise Financial by 153.8% in the second quarter. Mascoma Wealth Management LLC now owns 66 shares of the financial services provider’s stock valued at $28,000 after buying an additional 40 shares in the last quarter. 83.95% of the stock is owned by institutional investors.

Ameriprise Financial Stock Performance

Shares of AMP traded up $4.77 during mid-day trading on Thursday, hitting $522.34. The company’s stock had a trading volume of 119,153 shares, compared to its average volume of 470,509. Ameriprise Financial has a one year low of $306.63 and a one year high of $523.57. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.59 and a current ratio of 0.59. The firm has a market capitalization of $51.88 billion, a PE ratio of 17.74, a price-to-earnings-growth ratio of 0.81 and a beta of 1.35. The stock’s 50-day moving average is $452.81 and its two-hundred day moving average is $435.99.

Ameriprise Financial (NYSE:AMP – Get Free Report) last posted its quarterly earnings data on Wednesday, July 24th. The financial services provider reported $8.72 earnings per share for the quarter, beating the consensus estimate of $8.53 by $0.19. The company had revenue of $4.39 billion during the quarter, compared to analysts’ expectations of $4.24 billion. Ameriprise Financial had a return on equity of 73.83% and a net margin of 18.64%. Ameriprise Financial’s revenue for the quarter was up 9.6% compared to the same quarter last year. During the same period in the prior year, the business earned $7.44 earnings per share. As a group, sell-side analysts anticipate that Ameriprise Financial will post 34.92 EPS for the current year.

Ameriprise Financial Dividend Announcement

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

Ameriprise Financial Company Profile

(Get Free Report)

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.

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