Ameriprise Financial CEO William F. Truscott Sells 6,000 Shares

On February 6, 2023, CEO William F. Truscott of Ameriprise Financial, Inc. (NYSE: AMP) executed a sale of 6,000 shares of the company's stock. The shares were sold at an average price of $540.29 each, resulting in a total transaction value of $3,241,740.00. As a result of this sale, Truscott now directly holds 14,023 shares in Ameriprise, which are valued at approximately $7,576,486.67. This transaction reflects a 29.97% reduction in his ownership in the company. Details of the transaction were disclosed in a filing with the U.S. Securities and Exchange Commission (SEC), which is accessible for further review.

Ameriprise Financial's Stock Performance

Recently, Ameriprise Financial's stock experienced a decline, dropping by 1.7%. On Monday, the stock price fell by $9.35 during trading, reaching a new price of $529.25. The day's trading volume stood at 613,741 shares, surpassing the average volume of 523,532 shares. Presently, the company’s market capitalization is approximately $51.34 billion. Financial ratios indicate a debt-to-equity ratio of 1.01, a quick ratio of 0.65, and a current ratio of 0.59. The price-to-earnings ratio is reported at 16.01, with a PEG ratio of 1.18 and a beta of 1.36. Over the past year, Ameriprise Financial has seen a low of $385.74 and a high of $582.05 in stock price.

Latest Earnings Performance

Ameriprise Financial’s latest quarterly earnings report was released on January 29, 2023. The financial services company reported earnings of $9.36 per share (EPS), which exceeded analysts' expectations of $9.16 by $0.20. The company also achieved a return on equity of 69.35% and a net margin of 19.70%. Analysts project that Ameriprise Financial will report an EPS of 38.55 for the current fiscal year.

Dividend Announcement

The company recently announced a quarterly dividend of $1.48 per share that is scheduled for payment on February 28, 2023. Stockholders registered by February 10, 2023, will receive this dividend, amounting to an annualized total of $5.92, indicating a dividend yield of 1.12%. The ex-dividend date is set for February 10, and Ameriprise Financial's dividend payout ratio is currently at 17.91%.

Institutional Investor Activity

In recent months, several institutional investors have made changes to their holdings of Ameriprise Financial. The Czech National Bank increased its stake by 5.2% in the fourth quarter, now owning 21,035 shares valued at approximately $11,200,000. Similarly, Bridgewater Associates LP raised its position by 97.8% in the third quarter, acquiring a total of 50,510 shares worth about $23,730,000. Other firms such as Empowered Funds LLC and SpiderRock Advisors LLC also expanded their stakes during the same period. Currently, institutional investors hold about 83.95% of Ameriprise's stock.

Analyst Ratings

Analysts have mixed views on Ameriprise Financial’s stock. Recently, UBS Group downgraded its rating from "buy" to "neutral" and revised their price target to $570. Meanwhile, Morgan Stanley increased its target price to $502 while maintaining an "equal weight" rating. Royal Bank of Canada reaffirmed an "outperform" rating, with a price target of $625. Analysts currently classify the stock mostly as a hold, with a consensus target price of $510.44.

About Ameriprise Financial

Ameriprise Financial, Inc. provides a range of financial products and services to individual and institutional clients in both domestic and international markets. Its operations are divided into four main segments: Advice and Wealth Management, Asset Management, Retirement and Protection Solutions, and Corporate and Other.

Ameriprise, CEO, stock