Ameriprise Financial, Inc. (NYSE:AMP) saw a significant decline in short interest in the month of July. As of July 15th, there was short interest totalling 1,542,300 shares, a decline of 10.2% from the June 15th total of 1,717,000 shares. Approximately 1.1% of the shares of the company are sold short. Based on an average trading volume of 864,100 shares, the days-to-cover ratio is currently 1.8 days.

Several equities research analysts recently weighed in on the stock. Citigroup cut shares of Barrick Gold to a “neutral” rating in a research report on Thursday, May 23rd. Ameriprise Financial raised shares of Ameriprise Financial from a “neutral” rating to an “outperform” rating and upped their price objective for the stock from $145.00 to $202.00 in a research report on Monday, May 13th. Credit Suisse Group cut their price objective on shares of Marathon Petroleum from $95.00 to $80.00 and set an “outperform” rating for the company in a research report on Monday, May 13th. Morgan Stanley upped their price objective on shares of Xilinx from $126.00 to $134.00 and gave the stock an “overweight” rating in a research report on Thursday. Finally, Barclays upped their price objective on shares of T. Rowe Price Group from $90.00 to $95.00 and gave the stock an “underweight” rating in a research report on Thursday, April 25th. Two analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Ameriprise Financial currently has a consensus rating of “Buy” and a consensus target price of $173.56.

In other news, EVP Randy Kupper sold 5,160 shares of the business’s stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $150.38, for a total value of $775,960.80. Following the completion of the sale, the executive vice president now owns 23,656 shares of the company’s stock, valued at $3,557,389.28. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 1.90% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of AMP. State of Tennessee Treasury Department increased its stake in shares of Ameriprise Financial by 35.6% in the first quarter. State of Tennessee Treasury Department now owns 48,976 shares of the financial services provider’s stock valued at $6,274,000 after buying an additional 12,862 shares during the period. Palisade Asset Management LLC boosted its holdings in Ameriprise Financial by 8.3% in the first quarter. Palisade Asset Management LLC now owns 4,160 shares of the financial services provider’s stock valued at $533,000 after acquiring an additional 320 shares during the last quarter. Financial Counselors Inc. boosted its holdings in Ameriprise Financial by 6.5% in the first quarter. Financial Counselors Inc. now owns 104,018 shares of the financial services provider’s stock valued at $13,325,000 after acquiring an additional 6,323 shares during the last quarter. Dubuque Bank & Trust Co. boosted its holdings in Ameriprise Financial by 19.5% in the first quarter. Dubuque Bank & Trust Co. now owns 1,282 shares of the financial services provider’s stock valued at $164,000 after acquiring an additional 209 shares during the last quarter. Finally, Plimoth Trust Co. LLC boosted its holdings in Ameriprise Financial by 2.8% in the first quarter. Plimoth Trust Co. LLC now owns 4,450 shares of the financial services provider’s stock valued at $570,000 after acquiring an additional 120 shares during the last quarter. 80.91% of the stock is owned by hedge funds and other institutional investors.

AMP traded up $0.95 on Monday, hitting $150.88. 14,573 shares of the stock were exchanged, compared to its average volume of 745,625. Ameriprise Financial has a 12 month low of $95.69 and a 12 month high of $153.91. The company has a 50-day moving average of $148.98. The company has a quick ratio of 0.81, a current ratio of 0.78 and a debt-to-equity ratio of 0.80. The firm has a market capitalization of $20.08 billion, a price-to-earnings ratio of 10.10 and a beta of 1.80.

Ameriprise Financial (NYSE:AMP) last posted its quarterly earnings data on Wednesday, July 24th. The financial services provider reported $4.06 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $4.00 by $0.06. The business had revenue of $3.25 billion during the quarter, compared to analysts’ expectations of $2.93 billion. Ameriprise Financial had a net margin of 15.03% and a return on equity of 37.73%. Ameriprise Financial’s revenue was up 3.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $3.60 earnings per share. On average, equities analysts expect that Ameriprise Financial will post 16 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 16th. Shareholders of record on Monday, August 5th will be paid a dividend of $0.97 per share. This represents a $3.88 annualized dividend and a yield of 2.57%. The ex-dividend date is Friday, August 2nd. Ameriprise Financial’s payout ratio is 25.97%.

Ameriprise Financial Company Profile

Ameriprise Financial, Inc, through its subsidiaries, provides various financial products and services to individual and institutional clients in the United States and internationally. It operates through five segments: Advice & Wealth Management, Asset Management, Annuities, Protection, and Corporate & Other.

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