Ameriprise Financial, Inc. (NYSE:AMP) Given Average Rating of “Hold” by Analysts

Ameriprise Financial, Inc. (NYSE:AMP) has been given an average rating of “Hold” by the ten brokerages that are covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, six have assigned a hold recommendation and three have assigned a buy recommendation to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $489.33.

Several research analysts recently commented on AMP shares. The Goldman Sachs Group lowered shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and cut their price target for the company from $485.00 to $476.00 in a report on Thursday, September 26th. Royal Bank of Canada lifted their target price on shares of Ameriprise Financial from $535.00 to $550.00 and gave the company an “outperform” rating in a report on Friday, October 25th. UBS Group downgraded Ameriprise Financial from a “buy” rating to a “neutral” rating and lowered their price target for the company from $580.00 to $570.00 in a report on Monday. Morgan Stanley boosted their price objective on Ameriprise Financial from $440.00 to $502.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 17th. Finally, Keefe, Bruyette & Woods upped their target price on Ameriprise Financial from $475.00 to $510.00 and gave the stock a “market perform” rating in a research report on Tuesday, October 29th.

Insider Transactions at Ameriprise Financial

In other Ameriprise Financial news, insider Joseph Edward Sweeney sold 10,735 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $549.68, for a total transaction of $5,900,814.80. Following the sale, the insider now owns 5,811 shares in the company, valued at $3,194,190.48. This represents a 64.88 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Walter Stanley Berman sold 8,655 shares of the stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $564.16, for a total value of $4,882,804.80. Following the transaction, the chief financial officer now directly owns 6,409 shares in the company, valued at approximately $3,615,701.44. This represents a 57.45 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 21,715 shares of company stock valued at $11,983,436. 0.73% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Ameriprise Financial

Institutional investors and hedge funds have recently made changes to their positions in the company. One Wealth Capital Management LLC acquired a new stake in shares of Ameriprise Financial during the fourth quarter worth $372,000. Oliver Luxxe Assets LLC lifted its holdings in Ameriprise Financial by 19.0% in the fourth quarter. Oliver Luxxe Assets LLC now owns 1,202 shares of the financial services provider’s stock worth $640,000 after acquiring an additional 192 shares during the last quarter. CWA Asset Management Group LLC acquired a new position in Ameriprise Financial in the fourth quarter valued at approximately $204,000. Pensionfund Sabic raised its position in shares of Ameriprise Financial by 23.3% during the 4th quarter. Pensionfund Sabic now owns 3,700 shares of the financial services provider’s stock worth $1,970,000 after purchasing an additional 700 shares during the period. Finally, Nordea Investment Management AB lifted its holdings in shares of Ameriprise Financial by 2.0% in the 4th quarter. Nordea Investment Management AB now owns 36,118 shares of the financial services provider’s stock worth $19,232,000 after purchasing an additional 712 shares during the last quarter. 83.95% of the stock is owned by institutional investors and hedge funds.

Ameriprise Financial Stock Performance

Ameriprise Financial stock opened at $534.35 on Thursday. The company has a market cap of $51.84 billion, a price-to-earnings ratio of 20.51, a price-to-earnings-growth ratio of 0.96 and a beta of 1.36. Ameriprise Financial has a 12 month low of $368.41 and a 12 month high of $577.00. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.65 and a quick ratio of 0.65. The stock’s 50-day moving average is $547.89 and its 200-day moving average is $484.46.

Ameriprise Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Monday, November 4th were given a $1.48 dividend. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.11%. The ex-dividend date of this dividend was Monday, November 4th. Ameriprise Financial’s payout ratio is 22.73%.

About Ameriprise Financial

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.