Ameriprise Financial, Inc. (NYSE:AMP) Sees Large Decline in Short Interest

Ameriprise Financial, Inc. (NYSE:AMP) saw a large decline in short interest in the month of November. As of November 30th, there was short interest totalling 1,110,000 shares, a decline of 9.8% from the November 15th total of 1,230,000 shares. Based on an average daily volume of 443,500 shares, the days-to-cover ratio is currently 2.5 days. Currently, 1.2% of the company’s stock are short sold.

Ameriprise Financial Stock Performance

AMP stock traded down $8.38 during mid-day trading on Tuesday, reaching $541.86. 554,521 shares of the stock traded hands, compared to its average volume of 471,069. The firm has a market capitalization of $52.57 billion, a PE ratio of 21.12, a P/E/G ratio of 0.96 and a beta of 1.34. The business has a 50-day moving average of $539.80 and a two-hundred day moving average of $472.56. Ameriprise Financial has a 52 week low of $368.41 and a 52 week high of $577.00. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.99.

Ameriprise Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Monday, November 4th were paid a dividend of $1.48 per share. The ex-dividend date was Monday, November 4th. This represents a $5.92 annualized dividend and a yield of 1.09%. Ameriprise Financial’s payout ratio is 22.73%.

Analyst Upgrades and Downgrades

AMP has been the subject of several research reports. Royal Bank of Canada lifted their price target on Ameriprise Financial from $535.00 to $550.00 and gave the company an “outperform” rating in a report on Friday, October 25th. UBS Group lifted their target price 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. The Goldman Sachs Group lowered shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $485.00 to $476.00 in a research note on Thursday, September 26th. Keefe, Bruyette & Woods lifted their price objective on shares of Ameriprise Financial from $475.00 to $510.00 and gave the company a “market perform” rating in a research note on Tuesday, October 29th. Finally, Morgan Stanley increased their target price on shares of Ameriprise Financial from $440.00 to $502.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 17th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the stock. According to MarketBeat, Ameriprise Financial has an average rating of “Hold” and an average target price of $487.67.

Insider Buying and Selling at Ameriprise Financial

In related news, insider Gumer Alvero sold 2,325 shares of the business’s stock in a transaction that occurred 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 transaction, the insider now directly owns 4,669 shares of the company’s stock, valued at approximately $2,409,437.45. The trade was a 33.24 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Joseph Edward Sweeney sold 10,735 shares of the stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $549.68, for a total transaction of $5,900,814.80. Following the completion of the sale, the insider now owns 5,811 shares of the company’s stock, valued at approximately $3,194,190.48. The trade was a 64.88 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 21,715 shares of company stock valued at $11,983,436 in the last three months. 0.73% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in AMP. DiNuzzo Private Wealth Inc. grew its stake in shares of Ameriprise Financial by 268.8% in the second quarter. DiNuzzo Private Wealth Inc. now owns 59 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 43 shares during the last quarter. Mascoma Wealth Management LLC grew its position in Ameriprise Financial by 153.8% in the 2nd quarter. Mascoma Wealth Management LLC now owns 66 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 40 shares during the last quarter. Hantz Financial Services Inc. bought a new position in shares of Ameriprise Financial during the 2nd quarter worth about $29,000. Oakworth Capital Inc. acquired a new position in shares of Ameriprise Financial during the third quarter valued at about $31,000. Finally, Country Trust Bank lifted its stake in shares of Ameriprise Financial by 213.6% in the third quarter. Country Trust Bank now owns 69 shares of the financial services provider’s stock valued at $32,000 after buying an additional 47 shares during the period. 83.95% of the stock is owned by institutional investors.

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.