Ameriprise Financial (NYSE:AMP) PT Raised to $488.00 at The Goldman Sachs Group

Ameriprise Financial (NYSE:AMPFree Report) had its price target lifted by The Goldman Sachs Group from $437.00 to $488.00 in a research note released on Wednesday, Benzinga reports. The Goldman Sachs Group currently has a buy rating on the financial services provider’s stock.

Several other research analysts have also recently issued reports on AMP. Royal Bank of Canada lifted their target price on shares of Ameriprise Financial from $410.00 to $420.00 and gave the stock an outperform rating in a report on Monday, January 22nd. Raymond James assumed coverage on shares of Ameriprise Financial in a report on Thursday, March 21st. They issued a market perform rating for the company. Keefe, Bruyette & Woods lifted their target price on shares of Ameriprise Financial from $400.00 to $420.00 and gave the stock a market perform rating in a report on Tuesday, January 30th. Morgan Stanley lifted their target price on shares of Ameriprise Financial from $394.00 to $400.00 and gave the stock an equal weight rating in a report on Monday, January 29th. Finally, UBS Group lifted their target price on shares of Ameriprise Financial from $440.00 to $445.00 and gave the stock a buy rating in a report on Thursday, January 25th. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, Ameriprise Financial has a consensus rating of Hold and a consensus target price of $428.83.

Get Our Latest Stock Analysis on AMP

Ameriprise Financial Trading Up 1.1 %

Shares of NYSE AMP opened at $435.97 on Wednesday. Ameriprise Financial has a 1 year low of $279.85 and a 1 year high of $438.00. The stock has a market cap of $43.68 billion, a P/E ratio of 18.39, a price-to-earnings-growth ratio of 0.80 and a beta of 1.36. The firm has a 50-day moving average of $403.20 and a 200 day moving average of $367.08. The company has a debt-to-equity ratio of 1.17, a current ratio of 0.56 and a quick ratio of 0.56.

Ameriprise Financial (NYSE:AMPGet Free Report) last issued its quarterly earnings results on Thursday, January 25th. The financial services provider reported $7.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $7.67 by $0.08. Ameriprise Financial had a net margin of 16.27% and a return on equity of 77.39%. The company had revenue of $3.99 billion during the quarter, compared to analysts’ expectations of $3.90 billion. During the same period last year, the company posted $6.94 EPS. Ameriprise Financial’s revenue was up 9.0% on a year-over-year basis. As a group, sell-side analysts expect that Ameriprise Financial will post 34.2 EPS for the current fiscal year.

Ameriprise Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, February 27th. Stockholders of record on Friday, February 9th were issued a dividend of $1.35 per share. The ex-dividend date of this dividend was Thursday, February 8th. This represents a $5.40 annualized dividend and a dividend yield of 1.24%. Ameriprise Financial’s payout ratio is 22.78%.

Insider Activity

In other news, insider Joseph Edward Sweeney sold 5,146 shares of the business’s stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $389.47, for a total transaction of $2,004,212.62. Following the completion of the transaction, the insider now directly owns 9,421 shares of the company’s stock, valued at $3,669,196.87. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Joseph Edward Sweeney sold 5,146 shares of the business’s stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $389.47, for a total transaction of $2,004,212.62. Following the completion of the sale, the insider now directly owns 9,421 shares in the company, valued at $3,669,196.87. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Gumer Alvero sold 385 shares of the business’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $400.98, for a total transaction of $154,377.30. Following the sale, the insider now owns 6,994 shares of the company’s stock, valued at $2,804,454.12. The disclosure for this sale can be found here. Insiders sold 87,285 shares of company stock valued at $34,741,478 over the last three months. Insiders own 0.73% of the company’s stock.

Institutional Trading of Ameriprise Financial

Large investors have recently added to or reduced their stakes in the business. OFI Invest Asset Management bought a new stake in Ameriprise Financial during the third quarter valued at approximately $25,000. Financial Freedom LLC bought a new position in shares of Ameriprise Financial in the fourth quarter worth approximately $27,000. Carmel Capital Partners LLC bought a new position in shares of Ameriprise Financial in the third quarter worth approximately $30,000. FinTrust Capital Advisors LLC bought a new position in shares of Ameriprise Financial in the fourth quarter worth approximately $32,000. Finally, Turtle Creek Wealth Advisors LLC bought a new position in shares of Ameriprise Financial in the fourth quarter worth approximately $34,000. 83.95% of the stock is currently owned by institutional investors.

Ameriprise Financial Company Profile

(Get Free Report)

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.

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