Ameriprise Financial, Inc. (NYSE:AMP) Receives $528.75 Consensus Price Target from Analysts

Ameriprise Financial, Inc. (NYSE:AMP) has been assigned a consensus recommendation of “Hold” from the ten brokerages that are covering the company, Marketbeat Ratings reports. Two analysts have rated the stock with a sell rating, four have issued a hold rating, three have issued a buy rating and one has issued a strong buy rating on the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $528.75.

A number of research firms recently weighed in on AMP. BMO Capital Markets initiated coverage on Ameriprise Financial in a report on Friday, October 3rd. They set a “market perform” rating and a $525.00 price target for the company. Morgan Stanley lifted their price target on Ameriprise Financial from $484.00 to $485.00 and gave the company an “underweight” rating in a report on Monday, December 22nd. Weiss Ratings reissued a “buy (b-)” rating on shares of Ameriprise Financial in a report on Monday, December 29th. Evercore ISI dropped their target price on shares of Ameriprise Financial from $587.00 to $570.00 and set an “in-line” rating for the company in a research note on Thursday, October 9th. Finally, Royal Bank Of Canada decreased their price target on shares of Ameriprise Financial from $601.00 to $550.00 and set an “outperform” rating on the stock in a research note on Monday, November 3rd.

Insider Activity

In other news, Director Robert Francis Sharpe, Jr. sold 1,500 shares of the company’s stock in a transaction on Friday, November 21st. The stock was sold at an average price of $450.94, for a total transaction of $676,410.00. Following the transaction, the director owned 7,500 shares of the company’s stock, valued at $3,382,050. This represents a 16.67% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.73% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Whipplewood Advisors LLC raised its stake in shares of Ameriprise Financial by 71.0% during the second quarter. Whipplewood Advisors LLC now owns 53 shares of the financial services provider’s stock worth $28,000 after buying an additional 22 shares during the last quarter. Salomon & Ludwin LLC raised its position in shares of Ameriprise Financial by 115.4% during the 2nd quarter. Salomon & Ludwin LLC now owns 56 shares of the financial services provider’s stock valued at $30,000 after acquiring an additional 30 shares during the last quarter. Winnow Wealth LLC bought a new position in shares of Ameriprise Financial in the 2nd quarter worth $32,000. Holos Integrated Wealth LLC acquired a new stake in shares of Ameriprise Financial during the fourth quarter worth $30,000. Finally, Heartwood Wealth Advisors LLC bought a new stake in Ameriprise Financial in the third quarter valued at about $32,000. Institutional investors own 83.95% of the company’s stock.

Ameriprise Financial Trading Up 0.2%

Shares of Ameriprise Financial stock opened at $509.02 on Monday. Ameriprise Financial has a 12-month low of $396.14 and a 12-month high of $582.05. The stock has a market capitalization of $47.29 billion, a P/E ratio of 13.96, a price-to-earnings-growth ratio of 1.31 and a beta of 1.26. The company has a 50-day simple moving average of $480.76 and a 200 day simple moving average of $494.57. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 0.88.

Ameriprise Financial (NYSE:AMP) last issued its quarterly earnings data on Thursday, October 30th. The financial services provider reported $9.92 earnings per share for the quarter, topping the consensus estimate of $9.76 by $0.16. The firm had revenue of $4.73 billion for the quarter, compared to analysts’ expectations of $4.51 billion. Ameriprise Financial had a net margin of 20.12% and a return on equity of 64.97%. The company’s quarterly revenue was up 9.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $9.02 earnings per share. Research analysts expect that Ameriprise Financial will post 38.64 earnings per share for the current fiscal year.

Ameriprise Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, November 24th. Stockholders of record on Monday, November 10th were paid a $1.60 dividend. This represents a $6.40 annualized dividend and a dividend yield of 1.3%. The ex-dividend date of this dividend was Monday, November 10th. Ameriprise Financial’s dividend payout ratio (DPR) is 17.55%.

About Ameriprise Financial

Ameriprise Financial, Inc is a diversified financial services company headquartered in Minneapolis, Minnesota. The firm provides a range of advice-based wealth management, asset management and insurance products to individual and institutional clients. Its business model centers on delivering financial planning and investment advice through a network of financial advisors alongside proprietary product offerings designed to meet retirement, protection and accumulation needs.

Core products and services include comprehensive financial planning and advisory services, managed investment portfolios, retirement planning solutions, annuities and life insurance products.