Ameriprise Financial, Inc. (NYSE:AMP) Given Consensus Recommendation of “Hold” by Brokerages

Ameriprise Financial, Inc. (NYSE:AMP – Get Rating) has earned an average rating of “Hold” from the eleven ratings firms that are presently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, four have given a hold recommendation and four have assigned a buy recommendation to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $349.70.

AMP has been the topic of several analyst reports. Argus upped their price target on shares of Ameriprise Financial from $340.00 to $392.00 in a report on Tuesday, January 31st. StockNews.com upgraded shares of Ameriprise Financial from a “sell” rating to a “hold” rating in a report on Wednesday. Credit Suisse Group boosted their price objective on shares of Ameriprise Financial from $382.00 to $401.00 and gave the company an “outperform” rating in a research report on Wednesday, February 1st. Keefe, Bruyette & Woods boosted their price objective on shares of Ameriprise Financial from $350.00 to $375.00 and gave the company a “market perform” rating in a research report on Tuesday, January 31st. Finally, Royal Bank of Canada lowered their price objective on shares of Ameriprise Financial from $400.00 to $385.00 in a research report on Thursday, April 27th.

Ameriprise Financial Stock Performance

Ameriprise Financial stock opened at $293.33 on Friday. The company’s 50-day moving average price is $301.62 and its 200-day moving average price is $318.73. Ameriprise Financial has a twelve month low of $219.99 and a twelve month high of $357.46. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 1.43. The company has a market cap of $30.56 billion, a PE ratio of 14.90, a price-to-earnings-growth ratio of 0.61 and a beta of 1.46.

Ameriprise Financial (NYSE:AMP – Get Rating) last issued its quarterly earnings results on Tuesday, April 25th. The financial services provider reported $7.25 EPS for the quarter, beating the consensus estimate of $7.21 by $0.04. The company had revenue of $3.74 billion for the quarter, compared to the consensus estimate of $3.69 billion. Ameriprise Financial had a net margin of 15.41% and a return on equity of 77.32%. The firm’s revenue was up 3.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $5.98 EPS. On average, equities research analysts forecast that Ameriprise Financial will post 30 EPS for the current fiscal year.

Ameriprise Financial Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 19th. Stockholders of record on Monday, May 8th will be given a $0.10 dividend. The ex-dividend date of this dividend is Friday, May 5th. This represents a $0.40 annualized dividend and a dividend yield of 0.14%. Ameriprise Financial’s payout ratio is presently 27.43%.

Insider Transactions at Ameriprise Financial

In other news, insider Joseph Edward Sweeney sold 6,390 shares of the company’s stock in a transaction that occurred on Tuesday, February 14th. The shares were sold at an average price of $350.35, for a total value of $2,238,736.50. Following the completion of the sale, the insider now owns 10,955 shares of the company’s stock, valued at approximately $3,838,084.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO William F. Truscott sold 11,480 shares of the stock in a transaction that occurred on Monday, February 13th. The shares were sold at an average price of $355.33, for a total transaction of $4,079,188.40. Following the completion of the sale, the chief executive officer now owns 17,489 shares of the company’s stock, valued at $6,214,366.37. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Joseph Edward Sweeney sold 6,390 shares of the stock in a transaction that occurred on Tuesday, February 14th. The shares were sold at an average price of $350.35, for a total transaction of $2,238,736.50. Following the sale, the insider now directly owns 10,955 shares of the company’s stock, valued at approximately $3,838,084.25. The disclosure for this sale can be found here. Corporate insiders own 0.73% of the company’s stock.

Institutional Investors Weigh In On Ameriprise Financial

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Veritable L.P. raised its holdings in shares of Ameriprise Financial by 2.2% in the first quarter. Veritable L.P. now owns 4,792 shares of the financial services provider’s stock worth $1,469,000 after buying an additional 102 shares during the last quarter. 1832 Asset Management L.P. raised its holdings in shares of Ameriprise Financial by 18.5% in the first quarter. 1832 Asset Management L.P. now owns 6,990 shares of the financial services provider’s stock worth $2,142,000 after buying an additional 1,092 shares during the last quarter. Westfield Capital Management Co. LP purchased a new position in shares of Ameriprise Financial in the first quarter worth $50,938,000. State of Tennessee Treasury Department raised its holdings in shares of Ameriprise Financial by 14.2% in the first quarter. State of Tennessee Treasury Department now owns 183,618 shares of the financial services provider’s stock worth $56,279,000 after buying an additional 22,864 shares during the last quarter. Finally, Applied Finance Capital Management LLC raised its holdings in shares of Ameriprise Financial by 0.9% in the first quarter. Applied Finance Capital Management LLC now owns 48,863 shares of the financial services provider’s stock worth $14,977,000 after buying an additional 423 shares during the last quarter. Hedge funds and other institutional investors own 81.66% of the company’s stock.

Ameriprise Financial Company Profile

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Ameriprise Financial, Inc operates as a holding company. The firm provides financial planning, asset management and insurance services to individuals, businesses and institutions. It operates through the following business segments: Advice & Wealth Management, Asset Management, Retirement & Protection Solutions, and Corporate & Other.