MINNEAPOLIS—Dawn M. Brockman, Senior Vice President and Controller at Ameriprise Financial Inc. (NYSE:AMP (OTC:AMLTF)), has sold 350 shares of the company's common stock, according to a recent filing with the Securities and Exchange Commission. The shares were sold on November 6, 2024, at a weighted average price of $560.12 per share, with sale prices ranging from $559.98 to $560.31, amounting to a total transaction value of $196,041.
Following the transaction, Brockman holds 945 shares directly. Additionally, an estimated 143.73 shares are held indirectly through a 401(k) plan, reflecting the stock fund's variable unit accounting.
In other recent news, Ameriprise Financial has seen a significant uptick in its financial performance. The company reported a robust 22% increase in its assets under management and administration, reaching a commendable $1.5 trillion. Accompanying this was an 11% rise in adjusted operating net revenue, hitting $4.4 billion, and a 17% growth in earnings per share, excluding severance expenses. The return on equity was strong at 50.7%, marking an increase from the previous year.
Morgan Stanley (NYSE:MS) has adjusted its outlook on Ameriprise Financial, increasing the price target to $509.00 from the previous target of $502.00. The firm maintained an Equalweight rating on the company's stock. This adjustment follows Ameriprise Financial's third-quarter 2024 earnings, which led to a revision of future earnings per share (EPS) estimates. In a similar move, CFRA, another analyst firm, has raised the price target for Ameriprise Financial to $575, maintaining a Buy rating on the stock.
In line with these developments, Ameriprise Financial plans to introduce new savings and lending products. The company aims to return 80% of capital to shareholders in 2024, with similar expectations for 2025. Despite experiencing net outflows of $2.4 billion in the Asset Management segment, the Wealth Management segment achieved record client assets, with net inflows over the past year totaling $46 billion. These are some of the recent developments shaping the future of Ameriprise Financial.
InvestingPro Insights
As Dawn M. Brockman reduces her stake in Ameriprise Financial Inc. (NYSE:AMP), the company's stock continues to show strong performance. According to InvestingPro data, AMP's stock has demonstrated impressive returns, with a 67.03% total return over the past year and a 37.12% return in the last three months. This robust performance aligns with the company's solid financial metrics.
Ameriprise's market capitalization stands at $53.68 billion, reflecting its significant presence in the financial services sector. The company's revenue growth of 11.49% over the last twelve months indicates continued expansion, while its operating income margin of 34.03% suggests efficient operations.
InvestingPro Tips highlight that Ameriprise has raised its dividend for 20 consecutive years, demonstrating a commitment to shareholder returns. This is particularly noteworthy given the recent insider sale, as it may reassure investors about the company's financial health and long-term prospects.
Another InvestingPro Tip points out that AMP is trading near its 52-week high, which corroborates the stock's strong recent performance mentioned earlier. This could be a factor in the timing of Brockman's stock sale.
For investors seeking a more comprehensive analysis, InvestingPro offers 13 additional tips for Ameriprise Financial, providing a deeper understanding of the company's financial position and market performance.
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