Ameriprise Financial, Inc. (NYSE:AMP) Receives Consensus Rating of “Hold” from Brokerages

Shares of Ameriprise Financial, Inc. (NYSE:AMP) have been given an average recommendation of “Hold” by the ten ratings firms that are covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating on the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $510.44.

Several analysts have recently issued reports on the company. UBS Group cut Ameriprise Financial from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $580.00 to $570.00 in a report on Monday, January 6th. Keefe, Bruyette & Woods upped their price target on shares of Ameriprise Financial from $560.00 to $570.00 and gave the company a “market perform” rating in a research note on Monday, February 3rd. Piper Sandler lifted their price objective on shares of Ameriprise Financial from $415.00 to $442.00 and gave the stock an “underweight” rating in a research note on Friday, January 31st. Finally, Royal Bank of Canada restated an “outperform” rating and set a $625.00 target price on shares of Ameriprise Financial in a research report on Monday, February 3rd.

Ameriprise Financial Stock Down 1.7 %

Shares of AMP stock opened at $521.85 on Friday. The company has a market capitalization of $50.16 billion, a price-to-earnings ratio of 15.78, a PEG ratio of 1.15 and a beta of 1.36. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.59 and a quick ratio of 0.59. The company’s fifty day moving average price is $539.71 and its 200-day moving average price is $513.01. Ameriprise Financial has a one year low of $385.74 and a one year high of $582.05.

Ameriprise Financial (NYSE:AMP) last released its quarterly earnings data on Wednesday, January 29th. The financial services provider reported $9.36 earnings per share for the quarter, topping analysts’ consensus estimates of $9.16 by $0.20. Ameriprise Financial had a return on equity of 69.35% and a net margin of 19.70%. Sell-side analysts expect that Ameriprise Financial will post 38.64 EPS for the current fiscal year.

Ameriprise Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Monday, February 10th will be paid a $1.48 dividend. This represents a $5.92 annualized dividend and a dividend yield of 1.13%. The ex-dividend date of this dividend is Monday, February 10th. Ameriprise Financial’s payout ratio is 17.91%.

Insiders Place Their Bets

In related news, CEO William F. Truscott sold 6,000 shares of the business’s stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $540.29, for a total value of $3,241,740.00. Following the completion of the sale, the chief executive officer now directly owns 14,023 shares of the company’s stock, valued at $7,576,486.67. The trade was a 29.97 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Joseph Edward Sweeney sold 4,636 shares of the company’s stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $539.07, for a total transaction of $2,499,128.52. Following the completion of the transaction, the insider now owns 7,237 shares of the company’s stock, valued at $3,901,249.59. This represents a 39.05 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 11,636 shares of company stock worth $6,263,989 over the last 90 days. Corporate insiders own 0.96% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. University of Texas Texas AM Investment Management Co. purchased a new stake in Ameriprise Financial in the 4th quarter valued at approximately $26,000. TCTC Holdings LLC acquired a new stake in shares of Ameriprise Financial in the 4th quarter valued at approximately $26,000. Rialto Wealth Management LLC purchased a new stake in shares of Ameriprise Financial in the fourth quarter valued at approximately $28,000. Whipplewood Advisors LLC acquired a new position in Ameriprise Financial during the fourth quarter worth $28,000. Finally, Wingate Wealth Advisors Inc. purchased a new stake in shares of Ameriprise Financial during the 4th quarter worth $30,000. Institutional investors and hedge funds own 83.95% of the company’s stock.

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.