James M. Cracchiolo, Chairman and CEO of Ameriprise Financial Inc. (NYSE:AMP (OTC:AMLTF)), executed several stock transactions on November 11, 2024, according to a recent SEC filing. Cracchiolo sold 8,638 shares of Ameriprise common stock, with sale prices ranging from $562.7173 to $563.6910 per share, totaling approximately $4.87 million.
Additionally, Cracchiolo exercised options to acquire 25,000 shares of common stock at a price of $165.41 per share, amounting to a total value of $4,135,250. Following these transactions, Cracchiolo's direct ownership stands at 159,012 shares.
These transactions reflect Cracchiolo's continued engagement with Ameriprise Financial, a prominent firm in the investment advice sector.
In other recent news, Ameriprise Financial has been making significant strides in its financial performance. The company reported a robust 22% increase in assets under management and administration, reaching a commendable $1.5 trillion. Additionally, an 11% rise in adjusted operating net revenue was observed, reaching $4.4 billion. Ameriprise Financial also plans to introduce new savings and lending products and aims to return 80% of capital to shareholders in 2024 and 2025.
Morgan Stanley (NYSE:MS) adjusted its outlook on Ameriprise Financial, increasing the price target to $509.00 from the previous target of $502.00, maintaining an Equalweight rating. This adjustment was made following Ameriprise Financial's third-quarter 2024 earnings. CFRA, another analyst firm, raised the price target for Ameriprise Financial to $575, maintaining a Buy rating on the stock, reflecting the firm's strong financial results and growth prospects.
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 recent developments shaping the future of Ameriprise Financial.
InvestingPro Insights
The recent stock transactions by Ameriprise Financial Inc.'s (NYSE:AMP) CEO James M. Cracchiolo align with the company's strong market position and financial performance. According to InvestingPro data, Ameriprise boasts a substantial market capitalization of $54.33 billion, underscoring its significant presence in the financial services industry.
Ameriprise's commitment to shareholder value is evident in its dividend history. An InvestingPro Tip reveals that the company has raised its dividend for 20 consecutive years, demonstrating a consistent track record of returning value to investors. This aligns with Cracchiolo's long-term involvement and confidence in the company's financial health.
The company's stock performance has been particularly impressive, with a one-year price total return of 69.36% as of the latest data. This robust performance is further supported by another InvestingPro Tip indicating that Ameriprise is trading near its 52-week high, reflecting strong investor confidence and market optimism.
Ameriprise's financial metrics paint a picture of a company with solid fundamentals. The firm reported a revenue of $17.45 billion in the last twelve months as of Q3 2024, with a healthy revenue growth of 11.49% over the same period. Its price-to-earnings ratio of 21.18 suggests that investors are willing to pay a premium for the company's earnings, possibly due to its growth prospects and dividend consistency.
For investors seeking more comprehensive insights, InvestingPro offers 13 additional tips for Ameriprise Financial, providing a deeper analysis of the company's financial health and market position.
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