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

Ameriprise Financial, Inc. (NYSE:AMP) saw a significant decline in short interest in 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 short-interest ratio is presently 2.8 days. Currently, 1.4% of the company’s stock are short sold.

Ameriprise Financial Trading Up 0.9 %

Shares of NYSE AMP traded up $4.14 during midday trading on Tuesday, reaching $473.95. The stock had a trading volume of 258,887 shares, compared to its average volume of 475,963. Ameriprise Financial has a twelve month low of $306.63 and a twelve month high of $476.18. 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 company’s 50 day moving average price is $435.13 and its 200 day moving average price is $430.89. The firm has a market cap of $47.08 billion, a price-to-earnings ratio of 15.99, a price-to-earnings-growth ratio of 0.80 and a beta of 1.35.

Ameriprise Financial (NYSE:AMP) last issued its quarterly 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 return on equity of 73.83% and a net margin of 18.64%. The firm had revenue of $4.39 billion during the quarter, compared to the consensus estimate of $4.24 billion. During the same period last year, the business posted $7.44 EPS. The business’s revenue was up 9.6% compared to the same quarter last year. As a group, sell-side analysts expect that Ameriprise Financial will post 34.81 EPS for the current year.

Ameriprise Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 16th. Shareholders of record on Monday, August 5th were issued a dividend of $1.48 per share. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.25%. The ex-dividend date was Monday, August 5th. Ameriprise Financial’s payout ratio is 20.15%.

Insider Activity

In other news, VP William Davies sold 8,700 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the vice president now directly owns 13,199 shares of the company’s stock, valued at approximately $5,834,881.93. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.73% of the company’s stock.

Institutional Trading of Ameriprise Financial

Several hedge funds have recently modified their holdings of the stock. Mattson Financial Services LLC bought a new position in shares of Ameriprise Financial during the 2nd quarter worth about $1,215,000. Verity & Verity LLC increased its stake in Ameriprise Financial by 5.9% during the 2nd quarter. Verity & Verity LLC now owns 22,020 shares of the financial services provider’s stock valued at $9,407,000 after purchasing an additional 1,228 shares in the last quarter. Sanctuary Advisors LLC acquired a new position in Ameriprise Financial during the second quarter worth $6,407,000. Brown Financial Advisors bought a new position in shares of Ameriprise Financial in the second quarter valued at $721,000. Finally, Kestra Investment Management LLC acquired a new position in shares of Ameriprise Financial during the second quarter valued at about $731,000. Institutional investors own 83.95% of the company’s stock.

Analyst Ratings Changes

AMP has been the topic of several recent analyst reports. Jefferies Financial Group boosted their price target on Ameriprise Financial from $500.00 to $504.00 and gave the stock a “buy” rating in a research report on Friday, June 28th. The Goldman Sachs Group downgraded shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $485.00 to $476.00 in a research report on Thursday, September 26th. UBS Group dropped their target price 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. Morgan Stanley decreased their price target on shares of Ameriprise Financial from $444.00 to $440.00 and set an “equal weight” rating on the stock in a research note on Monday, July 29th. Finally, Keefe, Bruyette & Woods cut their target price on Ameriprise Financial from $470.00 to $460.00 and set a “market perform” rating for the company in a research report on Tuesday, July 30th. 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. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $463.00.

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.