Ameriprise Financial, Inc. (NYSE:AMP) Receives Average Recommendation of “Hold” from Analysts

Shares of Ameriprise Financial, Inc. (NYSE:AMP) have earned an average recommendation of “Hold” from the eight brokerages that are currently covering the stock, MarketBeat reports. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, one has given a buy rating and one has issued a strong buy rating on the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $534.7143.

Several research firms have issued reports on AMP. Piper Sandler upped their price target on Ameriprise Financial from $423.00 to $434.00 and gave the company an “underweight” rating in a report on Thursday, July 3rd. Morgan Stanley cut shares of Ameriprise Financial from an “equal weight” rating to an “underweight” rating and lifted their price objective for the stock from $462.00 to $530.00 in a research report on Tuesday, July 15th. William Blair cut shares of Ameriprise Financial from an “outperform” rating to a “market perform” rating in a research report on Friday, July 25th. Raymond James Financial lifted their price objective on shares of Ameriprise Financial from $518.00 to $582.00 and gave the stock a “strong-buy” rating in a research report on Friday, July 25th. Finally, Royal Bank Of Canada lifted their price objective on shares of Ameriprise Financial from $595.00 to $601.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 30th.

Insider Activity at Ameriprise Financial

In other Ameriprise Financial news, EVP Heather J. Melloh sold 1,500 shares of Ameriprise Financial stock in a transaction that occurred on Thursday, September 4th. The shares were sold at an average price of $512.34, for a total transaction of $768,510.00. Following the transaction, the executive vice president directly owned 2,562 shares in the company, valued at approximately $1,312,615.08. The trade was a 36.93% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO William F. Truscott sold 9,929 shares of Ameriprise Financial stock in a transaction that occurred on Tuesday, August 19th. The stock was sold at an average price of $506.89, for a total transaction of $5,032,910.81. Following the transaction, the chief executive officer owned 11,047 shares in the company, valued at approximately $5,599,613.83. The trade was a 47.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.73% of the company’s stock.

Hedge Funds Weigh In On Ameriprise Financial

Several institutional investors and hedge funds have recently modified their holdings of AMP. Brighton Jones LLC grew its holdings in shares of Ameriprise Financial by 6.9% during the 4th quarter. Brighton Jones LLC now owns 777 shares of the financial services provider’s stock valued at $413,000 after acquiring an additional 50 shares in the last quarter. Balyasny Asset Management L.P. purchased a new position in shares of Ameriprise Financial during the 4th quarter valued at $633,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its holdings in shares of Ameriprise Financial by 102.1% during the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 780 shares of the financial services provider’s stock valued at $415,000 after acquiring an additional 394 shares in the last quarter. Ensign Peak Advisors Inc grew its holdings in shares of Ameriprise Financial by 22.0% during the 4th quarter. Ensign Peak Advisors Inc now owns 15,478 shares of the financial services provider’s stock valued at $8,241,000 after acquiring an additional 2,793 shares in the last quarter. Finally, Focus Partners Wealth grew its holdings in shares of Ameriprise Financial by 33.9% during the 4th quarter. Focus Partners Wealth now owns 19,544 shares of the financial services provider’s stock valued at $10,573,000 after acquiring an additional 4,947 shares in the last quarter. 83.95% of the stock is currently owned by hedge funds and other institutional investors.

Ameriprise Financial Price Performance

NYSE AMP opened at $497.15 on Tuesday. The stock has a market capitalization of $46.87 billion, a P/E ratio of 15.47, a P/E/G ratio of 1.07 and a beta of 1.27. Ameriprise Financial has a 1 year low of $396.14 and a 1 year high of $582.05. The business’s fifty day moving average is $515.73 and its two-hundred day moving average is $502.89. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.62 and a current ratio of 0.62.

Ameriprise Financial (NYSE:AMP) last posted its quarterly earnings results on Thursday, July 24th. The financial services provider reported $9.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $9.00 by $0.11. The company had revenue of $4.49 billion for the quarter, compared to analysts’ expectations of $4.33 billion. Ameriprise Financial had a return on equity of 65.90% and a net margin of 18.30%.The firm’s revenue was up 2.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $8.72 earnings per share. On average, research analysts forecast that Ameriprise Financial will post 38.64 earnings per share for the current fiscal year.

Ameriprise Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 18th. Shareholders of record on Monday, August 4th were given a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a yield of 1.3%. The ex-dividend date was Monday, August 4th. Ameriprise Financial’s payout ratio is presently 19.91%.

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.