Ameriprise Financial (NYSE:AMP) PT Raised to $504.00

Ameriprise Financial (NYSE:AMP) had its target price upped by Jefferies Financial Group from $500.00 to $504.00 in a report published on Friday morning, Benzinga reports. They currently have a buy rating on the financial services provider’s stock.

AMP has been the subject of several other research reports. Raymond James assumed coverage on Ameriprise Financial in a report on Thursday, March 21st. They issued a market perform rating for the company. Argus boosted their price target on Ameriprise Financial from $440.00 to $460.00 and gave the company a buy rating in a report on Monday, May 6th. The Goldman Sachs Group boosted their price target on Ameriprise Financial from $437.00 to $488.00 and gave the company a buy rating in a report on Wednesday, March 27th. Keefe, Bruyette & Woods boosted their price target on Ameriprise Financial from $420.00 to $460.00 and gave the company a market perform rating in a report on Wednesday, April 10th. Finally, Morgan Stanley boosted their price target on Ameriprise Financial from $400.00 to $437.00 and gave the company an equal weight rating in a report on Tuesday, April 9th. One analyst has rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, Ameriprise Financial currently has a consensus rating of Hold and a consensus price target of $456.22.

Ameriprise Financial Stock Down 0.3 %

AMP stock opened at $426.00 on Friday. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.56 and a quick ratio of 0.56. Ameriprise Financial has a 1-year low of $306.63 and a 1-year high of $446.32. The stock has a market capitalization of $42.31 billion, a P/E ratio of 14.50, a P/E/G ratio of 0.73 and a beta of 1.37. The business has a fifty day moving average price of $428.66 and a 200-day moving average price of $410.88.

Ameriprise Financial (NYSE:AMP) last issued its quarterly earnings data on Wednesday, April 24th. The financial services provider reported $8.39 EPS for the quarter, topping the consensus estimate of $8.10 by $0.29. Ameriprise Financial had a return on equity of 75.97% and a net margin of 19.42%. The company had revenue of $4.15 billion during the quarter, compared to analyst estimates of $4.15 billion. During the same quarter in the previous year, the company posted $7.25 earnings per share. Ameriprise Financial’s revenue was up 10.8% compared to the same quarter last year. Equities analysts forecast that Ameriprise Financial will post 34.95 earnings per share for the current fiscal year.

Ameriprise Financial Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 17th. Investors of record on Monday, May 6th were given a $1.48 dividend. This is an increase from Ameriprise Financial’s previous quarterly dividend of $1.35. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.39%. The ex-dividend date was Friday, May 3rd. Ameriprise Financial’s payout ratio is currently 20.15%.

Insider Buying and Selling

In related news, Director Robert Francis Sharpe, Jr. sold 1,500 shares of the business’s stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $438.07, for a total value of $657,105.00. Following the sale, the director now directly owns 11,000 shares in the company, valued at $4,818,770. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.96% of the stock is owned by company insiders.

Institutional Investors Weigh In On Ameriprise Financial

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AMP. Retirement Group LLC purchased a new stake in Ameriprise Financial during the first quarter valued at approximately $25,000. Redmont Wealth Advisors LLC purchased a new stake in shares of Ameriprise Financial in the first quarter worth approximately $28,000. Sound Income Strategies LLC purchased a new stake in shares of Ameriprise Financial in the first quarter worth approximately $32,000. Annapolis Financial Services LLC raised its holdings in shares of Ameriprise Financial by 928.6% in the first quarter. Annapolis Financial Services LLC now owns 72 shares of the financial services provider’s stock worth $32,000 after buying an additional 65 shares during the period. Finally, Turtle Creek Wealth Advisors LLC purchased a new stake in shares of Ameriprise Financial in the fourth quarter worth approximately $34,000. 83.95% of the stock is currently owned by hedge funds and other institutional investors.

Ameriprise Financial Company Profile

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