Short Interest in Ameriprise Financial, Inc. (NYSE:AMP) Decreases By 7.5%

Ameriprise Financial, Inc. (NYSE:AMP) saw a large decline in short interest during the month of September. As of September 15th, there was short interest totalling 1,350,000 shares, a decline of 7.5% from the August 31st total of 1,460,000 shares. Based on an average daily volume of 475,200 shares, the days-to-cover ratio is currently 2.8 days. Currently, 1.4% of the shares of the stock are sold short.

Insiders Place Their Bets

In other Ameriprise Financial news, VP William Davies sold 8,700 shares of Ameriprise Financial stock in a transaction on Friday, August 30th. The shares were sold at an average price of $442.07, for a total transaction of $3,846,009.00. Following the sale, the vice president now owns 13,199 shares of the company’s stock, valued at approximately $5,834,881.93. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.73% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Ameriprise Financial

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Retirement Group LLC acquired a new position in Ameriprise Financial in the first quarter valued at approximately $25,000. DiNuzzo Private Wealth Inc. boosted its holdings in Ameriprise Financial by 268.8% in the second quarter. DiNuzzo Private Wealth Inc. now owns 59 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 43 shares in the last quarter. Accordant Advisory Group Inc acquired a new position in Ameriprise Financial in the second quarter valued at approximately $26,000. Redmont Wealth Advisors LLC acquired a new position in Ameriprise Financial in the first quarter valued at approximately $28,000. Finally, Mascoma Wealth Management LLC boosted its holdings 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 acquiring an additional 40 shares during the period. 83.95% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. UBS Group reduced their price objective on shares of Ameriprise Financial from $500.00 to $495.00 and set a “buy” rating on the stock in a report on Tuesday, July 9th. Piper Sandler reduced their price objective on shares of Ameriprise Financial from $390.00 to $387.00 and set an “underweight” rating on the stock in a report on Friday, June 28th. Royal Bank of Canada boosted their price objective on shares of Ameriprise Financial from $487.00 to $500.00 and gave the company an “outperform” rating in a report on Tuesday, July 30th. Keefe, Bruyette & Woods reduced their price objective on shares of Ameriprise Financial from $470.00 to $460.00 and set a “market perform” rating on the stock in a report on Tuesday, July 30th. Finally, The Goldman Sachs Group lowered shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $485.00 to $476.00 in a report on Thursday, September 26th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $463.00.

Ameriprise Financial Trading Up 1.1 %

NYSE:AMP traded up $5.27 on Tuesday, reaching $475.08. 201,727 shares of the company’s stock were exchanged, compared to its average volume of 475,660. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 1.16. The firm has a market capitalization of $47.19 billion, a price-to-earnings ratio of 15.99, a price-to-earnings-growth ratio of 0.80 and a beta of 1.35. The business has a fifty day moving average of $435.13 and a 200-day moving average of $430.89. Ameriprise Financial has a 52-week low of $306.63 and a 52-week high of $475.44.

Ameriprise Financial (NYSE:AMP) last released its earnings results on Wednesday, July 24th. The financial services provider reported $8.72 earnings per share for the quarter, topping analysts’ consensus estimates of $8.53 by $0.19. Ameriprise Financial had a net margin of 18.64% and a return on equity of 73.83%. The firm had revenue of $4.39 billion for the quarter, compared to analyst estimates of $4.24 billion. During the same period in the prior year, the firm earned $7.44 earnings per share. The business’s quarterly revenue was up 9.6% compared to the same quarter last year. As a group, analysts expect that Ameriprise Financial will post 34.81 earnings per share 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 paid a dividend of $1.48 per share. The ex-dividend date was Monday, August 5th. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.25%. Ameriprise Financial’s payout ratio is 20.15%.

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.