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

Ameriprise Financial, Inc. (NYSE:AMP) was the recipient of a large increase in short interest in the month of February. As of February 15th, there was short interest totalling 1,370,000 shares, an increase of 29.2% from the January 31st total of 1,060,000 shares. Approximately 1.4% of the company’s shares are sold short. Based on an average daily trading volume, of 516,400 shares, the days-to-cover ratio is presently 2.7 days.

Ameriprise Financial Stock Performance

Shares of AMP stock traded down $2.45 during trading hours on Thursday, reaching $506.64. 88,867 shares of the company’s stock were exchanged, compared to its average volume of 457,250. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.59 and a quick ratio of 0.59. Ameriprise Financial has a 1 year low of $385.74 and a 1 year high of $582.05. The company has a market cap of $48.70 billion, a P/E ratio of 15.36, a price-to-earnings-growth ratio of 1.15 and a beta of 1.33. The company’s 50 day moving average is $538.39 and its two-hundred day moving average is $516.69.

Ameriprise Financial (NYSE:AMP) last issued its earnings results on Wednesday, January 29th. The financial services provider reported $9.36 EPS for the quarter, topping the consensus estimate of $9.16 by $0.20. Ameriprise Financial had a net margin of 19.70% and a return on equity of 69.35%. Equities research analysts anticipate that Ameriprise Financial will post 38.64 EPS for the current fiscal year.

Ameriprise Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Monday, February 10th were issued a $1.48 dividend. The ex-dividend date was Monday, February 10th. This represents a $5.92 dividend on an annualized basis and a yield of 1.17%. Ameriprise Financial’s dividend payout ratio (DPR) is presently 17.91%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on AMP shares. Royal Bank of Canada restated an “outperform” rating and set a $625.00 price objective on shares of Ameriprise Financial in a research report on Monday, February 3rd. Morgan Stanley upped their price objective on shares of Ameriprise Financial from $507.00 to $542.00 and gave the company an “equal weight” rating in a research note on Tuesday. UBS Group cut Ameriprise Financial from a “buy” rating to a “neutral” rating and cut their target price for the stock from $580.00 to $570.00 in a research report on Monday, January 6th. Piper Sandler upped their target price on Ameriprise Financial from $415.00 to $442.00 and gave the company an “underweight” rating in a research report on Friday, January 31st. Finally, Keefe, Bruyette & Woods lifted their price target on Ameriprise Financial from $560.00 to $570.00 and gave the stock a “market perform” rating in a research report on Monday, February 3rd. One analyst has rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $514.89.

Insider Activity

In other news, CEO William F. Truscott sold 6,000 shares of the business’s stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $540.29, for a total value of $3,241,740.00. Following the sale, the chief executive officer now directly owns 14,023 shares of the company’s stock, valued at approximately $7,576,486.67. The trade was a 29.97 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Robert Francis Sharpe, Jr. sold 1,000 shares of the business’s stock in a transaction on Wednesday, February 12th. The shares were sold at an average price of $523.12, for a total value of $523,120.00. Following the completion of the sale, the director now owns 10,000 shares in the company, valued at $5,231,200. This represents a 9.09 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 11,636 shares of company stock valued at $6,263,989. 0.73% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Ameriprise Financial

Several institutional investors have recently modified their holdings of the company. TCTC Holdings LLC acquired a new position in Ameriprise Financial during the fourth quarter worth $26,000. University of Texas Texas AM Investment Management Co. purchased a new position in shares of Ameriprise Financial in the fourth quarter valued at $26,000. Whipplewood Advisors LLC acquired a new position in shares of Ameriprise Financial during the 4th quarter worth $28,000. Rialto Wealth Management LLC purchased a new stake in shares of Ameriprise Financial in the 4th quarter worth about $28,000. Finally, Wingate Wealth Advisors Inc. acquired a new stake in Ameriprise Financial in the 4th quarter valued at about $30,000. Hedge funds and other institutional investors own 83.95% of the company’s stock.

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.