Ameriprise Financial, Inc. (NYSE:AMP) Receives $543.22 Consensus Target Price from Brokerages

Ameriprise Financial, Inc. (NYSE:AMP) has been assigned an average recommendation of “Hold” from the eleven research firms that are currently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, six have assigned a hold recommendation, three have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $543.2222.

A number of equities research analysts recently weighed in on AMP shares. Keefe, Bruyette & Woods started coverage on Ameriprise Financial in a research note on Friday, April 10th. They set a “hold” rating for the company. Piper Sandler upped their price objective on Ameriprise Financial from $460.00 to $471.00 and gave the stock a “neutral” rating in a research note on Monday, May 4th. BMO Capital Markets upped their price objective on Ameriprise Financial from $470.00 to $490.00 and gave the stock a “market perform” rating in a research note on Friday, April 24th. Morgan Stanley upped their price objective on Ameriprise Financial from $452.00 to $467.00 and gave the stock an “underweight” rating in a research note on Thursday, April 30th. Finally, Weiss Ratings cut Ameriprise Financial from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, May 27th.

Insider Buying and Selling at Ameriprise Financial

In other news, Director Robert Francis Sharpe, Jr. sold 1,200 shares of the stock in a transaction on Friday, May 8th. The stock was sold at an average price of $465.83, for a total transaction of $558,996.00. Following the completion of the sale, the director owned 6,300 shares in the company, valued at approximately $2,934,729. This represents a 16.00% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Gerard P. Smyth sold 6,255 shares of the stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $472.52, for a total value of $2,955,612.60. Following the sale, the executive vice president owned 6,103 shares of the company’s stock, valued at approximately $2,883,789.56. This represents a 50.61% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.60% of the company’s stock.

Institutional Trading of Ameriprise Financial

Several hedge funds and other institutional investors have recently made changes to their positions in AMP. SouthState Bank Corp lifted its holdings in shares of Ameriprise Financial by 78.6% during the 4th quarter. SouthState Bank Corp now owns 50 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 22 shares during the last quarter. Cassaday & Co Wealth Management LLC purchased a new stake in shares of Ameriprise Financial during the 1st quarter valued at $28,000. Holos Integrated Wealth LLC purchased a new stake in shares of Ameriprise Financial during the 4th quarter valued at $30,000. Redmont Wealth Advisors LLC purchased a new stake in shares of Ameriprise Financial during the 3rd quarter valued at $32,000. Finally, Ares Financial Consulting LLC purchased a new stake in shares of Ameriprise Financial during the 4th quarter valued at $32,000. Hedge funds and other institutional investors own 83.95% of the company’s stock.

Ameriprise Financial Stock Up 0.0%

Shares of NYSE:AMP opened at $471.56 on Thursday. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 0.90. The stock has a market cap of $42.39 billion, a P/E ratio of 11.73, a price-to-earnings-growth ratio of 1.00 and a beta of 1.16. The business’s 50 day moving average is $459.10 and its 200 day moving average is $473.22. Ameriprise Financial has a 52-week low of $422.37 and a 52-week high of $550.18.

Ameriprise Financial (NYSE:AMP) last announced its earnings results on Thursday, April 23rd. The financial services provider reported $11.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $10.21 by $1.05. The business had revenue of $4.77 billion for the quarter, compared to analysts’ expectations of $4.82 billion. Ameriprise Financial had a return on equity of 62.88% and a net margin of 20.57%.The business’s revenue for the quarter was up 9.7% on a year-over-year basis. During the same quarter last year, the firm earned $9.50 EPS. Sell-side analysts predict that Ameriprise Financial will post 42.63 EPS for the current year.

Ameriprise Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 22nd. Investors of record on Monday, May 4th were paid a dividend of $1.70 per share. This is an increase from Ameriprise Financial’s previous quarterly dividend of $1.60. The ex-dividend date was Monday, May 4th. This represents a $6.80 dividend on an annualized basis and a dividend yield of 1.4%. Ameriprise Financial’s dividend payout ratio (DPR) is currently 16.91%.

Ameriprise Financial Company Profile

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.