Ameriprise Financial (NYSE:AMP) Shares Gap Down – Here’s What Happened

Ameriprise Financial, Inc. (NYSE:AMP) gapped down prior to trading on Thursday . The stock had previously closed at $520.47, but opened at $500.54. Ameriprise Financial shares last traded at $492.96, with a volume of 52,929 shares.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the company. 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 research note on Friday, June 28th. The Goldman Sachs Group cut shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $485.00 to $476.00 in a research note on Thursday, September 26th. Royal Bank of Canada increased their price target on Ameriprise Financial from $500.00 to $535.00 and gave the company an “outperform” rating in a research note 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. Finally, Morgan Stanley raised their target price on Ameriprise Financial from $440.00 to $502.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 17th. One analyst has rated the stock with a sell rating, five have given a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Ameriprise Financial has a consensus rating of “Hold” and an average price target of $480.44.

Ameriprise Financial Stock Down 3.2 %

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 has a fifty day moving average price of $464.19 and a 200-day moving average price of $439.06. The firm has a market capitalization of $50.03 billion, a PE ratio of 16.78, a PEG ratio of 0.81 and a beta of 1.35.

Ameriprise Financial (NYSE:AMP) last announced its quarterly earnings data on Wednesday, July 24th. The financial services provider reported $8.72 earnings per share for the quarter, beating 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 company had revenue of $4.39 billion during the quarter, compared to analyst estimates of $4.24 billion. During the same quarter last year, the business posted $7.44 EPS. The firm’s revenue for the quarter was up 9.6% on a year-over-year basis. As a group, analysts expect that Ameriprise Financial, Inc. will post 34.92 earnings per share for the current year.

Ameriprise Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Monday, November 4th will be issued a dividend of $1.48 per share. This represents a $5.92 annualized dividend and a dividend yield of 1.18%. Ameriprise Financial’s dividend payout ratio is presently 20.15%.

Insider Activity

In other Ameriprise Financial news, VP William Davies sold 8,700 shares of the company’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $442.07, for a total value of $3,846,009.00. Following the completion of the transaction, the vice president now owns 13,199 shares in the company, valued at approximately $5,834,881.93. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.73% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in AMP. Wellington Management Group LLP lifted its position in shares of Ameriprise Financial by 11.4% during the 4th quarter. Wellington Management Group LLP now owns 6,158 shares of the financial services provider’s stock worth $2,339,000 after purchasing an additional 630 shares during the last quarter. Los Angeles Capital Management LLC lifted its stake in shares of Ameriprise Financial by 10.6% in the 1st quarter. Los Angeles Capital Management LLC now owns 702 shares of the financial services provider’s stock worth $308,000 after acquiring an additional 67 shares during the period. Sound Income Strategies LLC purchased a new stake in shares of Ameriprise Financial during the 1st quarter worth approximately $32,000. Aspiriant LLC increased its stake in shares of Ameriprise Financial by 16.6% during the 1st quarter. Aspiriant LLC now owns 946 shares of the financial services provider’s stock worth $415,000 after purchasing an additional 135 shares in the last quarter. Finally, Revolve Wealth Partners LLC acquired a new position in shares of Ameriprise Financial in the first quarter valued at approximately $204,000. 83.95% of the stock is currently owned by institutional investors and hedge funds.

Ameriprise Financial Company Profile

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.