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

Ameriprise Financial, Inc. (NYSE:AMPGet Free Report) was the target of a significant drop in short interest during the month of October. As of October 31st, there was short interest totalling 1,120,000 shares, a drop of 8.9% from the October 15th total of 1,230,000 shares. Based on an average daily volume of 419,300 shares, the days-to-cover ratio is presently 2.7 days. Approximately 1.2% of the company’s shares are short sold.

Ameriprise Financial Stock Down 0.4 %

NYSE AMP traded down $2.28 during trading hours on Tuesday, reaching $562.76. 87,161 shares of the company traded hands, compared to its average volume of 469,545. The company has a 50 day moving average of $499.13 and a two-hundred day moving average of $454.27. Ameriprise Financial has a 12 month low of $343.98 and a 12 month high of $569.47. The stock has a market capitalization of $54.59 billion, a PE ratio of 21.69, a PEG ratio of 0.98 and a beta of 1.34. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.99.

Ameriprise Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Monday, November 4th were given a $1.48 dividend. The ex-dividend date was Monday, November 4th. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.05%. Ameriprise Financial’s payout ratio is currently 22.73%.

Insider Transactions at Ameriprise Financial

In other news, insider Gumer Alvero sold 2,325 shares of the business’s stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $516.05, for a total transaction of $1,199,816.25. Following the sale, the insider now directly owns 4,669 shares of the company’s stock, valued at $2,409,437.45. The trade was a 33.24 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Walter Stanley Berman sold 8,655 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $564.16, for a total transaction of $4,882,804.80. Following the sale, the chief financial officer now directly owns 6,409 shares in the company, valued at $3,615,701.44. The trade was a 57.45 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 30,415 shares of company stock worth $15,829,445. 0.96% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Ameriprise Financial

Several hedge funds and other institutional investors have recently made changes to their positions in the business. BDF Gestion acquired a new stake in Ameriprise Financial in the 2nd quarter valued at about $2,836,000. Capital World Investors raised its holdings in Ameriprise Financial by 95.0% during the first quarter. Capital World Investors now owns 67,606 shares of the financial services provider’s stock valued at $29,641,000 after buying an additional 32,930 shares in the last quarter. Cetera Investment Advisers boosted its stake in Ameriprise Financial by 335.6% during the 1st quarter. Cetera Investment Advisers now owns 34,321 shares of the financial services provider’s stock valued at $15,048,000 after purchasing an additional 26,442 shares during the period. Wealth Enhancement Advisory Services LLC raised its holdings in Ameriprise Financial by 23.9% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 29,529 shares of the financial services provider’s stock valued at $12,615,000 after acquiring an additional 5,692 shares in the last quarter. Finally, Assenagon Asset Management S.A. lifted its holdings in shares of Ameriprise Financial by 390.2% during the 2nd quarter. Assenagon Asset Management S.A. now owns 57,060 shares of the financial services provider’s stock worth $24,375,000 after acquiring an additional 45,420 shares during the period. 83.95% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on AMP shares. UBS Group raised their price objective on shares of Ameriprise Financial from $490.00 to $555.00 and gave the company a “buy” rating in a research note on Tuesday, October 8th. Royal Bank of Canada lifted their price objective on shares of Ameriprise Financial from $535.00 to $550.00 and gave the company an “outperform” rating in a research report on Friday, October 25th. Keefe, Bruyette & Woods upped their price objective on shares of Ameriprise Financial from $475.00 to $510.00 and gave the stock a “market perform” rating in a research report on Tuesday, October 29th. Morgan Stanley lifted their price objective on Ameriprise Financial from $440.00 to $502.00 and gave the company an “equal weight” rating in a report on Thursday, October 17th. Finally, The Goldman Sachs Group cut Ameriprise Financial from a “buy” rating to a “neutral” rating and reduced their price target for the company from $485.00 to $476.00 in a report on Thursday, September 26th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $487.67.

Get Our Latest Analysis on Ameriprise Financial

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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