AMP Stock Movement Summary Ameriprise Financial (AMP) experienced significant losses over two consecutive trading days due to multiple factors: AI Disruption Concerns: Wealth management stocks, including AMP, declined sharply following Altruist's announcement of an AI-enabled tax planning tool for wealth advisors. This sparked broader fears about artificial intelligence disrupting the financial advisory sector. Q4 Earnings Decline: AMP reported fourth-quarter earnings of $1.008 billion, or $10.47 per share, down from $1.071 billion, or $10.58 per share in the prior year. However, revenue increased 10.2% to $4.960 billion. Insider Selling: CFO Walter Stanley Berman sold 7,000 shares, and the stock declined 5.6% following this insider selling activity. Positive Developments: RBC Capital raised its price target to $605 from $580 and reiterated an Outperform rating following the earnings report.
Read full analysisAMP Stock Movement Summary Ameriprise Financial (AMP) experienced significant losses over two consecutive trading days due to multiple factors: AI Disruption Concerns: Wealth management stocks, including AMP, declined sharply following Altruist's announcement of an AI-enabled tax planning tool for wealth advisors. This sparked broader fears about artificial intelligence disrupting the financial advisory sector. Q4 Earnings Decline: AMP reported fourth-quarter earnings of $1.008 billion, or $10.47 per share, down from $1.071 billion, or $10.58 per share in the prior year. However, revenue increased 10.2% to $4.960 billion. Insider Selling: CFO Walter Stanley Berman sold 7,000 shares, and the stock declined 5.6% following this insider selling activity. Positive Developments: RBC Capital raised its price target to $605 from $580 and reiterated an Outperform rating following the earnings report.
Ameriprise Financial, Inc. (AMP) is a publicly traded company in the Broad Market sector.