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

Shares of Ameriprise Financial, Inc. (NYSE:AMP) have been assigned a consensus rating of “Hold” from the eight ratings firms that are covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating on the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $449.57.

A number of brokerages recently issued reports on AMP. Keefe, Bruyette & Woods lifted their target price on Ameriprise Financial from $420.00 to $460.00 and gave the company a “market perform” rating in a research report on Wednesday, April 10th. Raymond James started coverage on Ameriprise Financial in a research report on Thursday, March 21st. They set a “market perform” rating on the stock. Piper Sandler boosted their price target on Ameriprise Financial from $360.00 to $392.00 and gave the stock an “underweight” rating in a research report on Friday, April 5th. UBS Group boosted their price target on Ameriprise Financial from $440.00 to $445.00 and gave the stock a “buy” rating in a research report on Thursday, January 25th. Finally, Evercore ISI boosted their price target on Ameriprise Financial from $400.00 to $445.00 and gave the stock an “in-line” rating in a research report on Thursday, April 11th.

Insider Activity at Ameriprise Financial

In other news, CEO William F. Truscott sold 8,000 shares of the company’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $412.05, for a total transaction of $3,296,400.00. Following the completion of the sale, the chief executive officer now directly owns 13,134 shares in the company, valued at approximately $5,411,864.70. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Ameriprise Financial news, insider Joseph Edward Sweeney sold 5,146 shares of the company’s stock in a transaction dated Monday, January 29th. The stock was sold at an average price of $389.47, for a total value of $2,004,212.62. Following the completion of the transaction, the insider now owns 9,421 shares of the company’s stock, valued at approximately $3,669,196.87. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO William F. Truscott sold 8,000 shares of the company’s stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $412.05, for a total value of $3,296,400.00. Following the completion of the transaction, the chief executive officer now directly owns 13,134 shares of the company’s stock, valued at approximately $5,411,864.70. The disclosure for this sale can be found here. Insiders sold 79,472 shares of company stock worth $31,779,805 in the last ninety days. 0.73% of the stock is owned by company insiders.

Hedge Funds Weigh In On Ameriprise Financial

Institutional investors and hedge funds have recently bought and sold shares of the company. Caprock Group LLC grew its position in shares of Ameriprise Financial by 13.4% in the 3rd quarter. Caprock Group LLC now owns 1,910 shares of the financial services provider’s stock valued at $630,000 after buying an additional 226 shares during the last quarter. Oak Thistle LLC bought a new stake in shares of Ameriprise Financial in the 3rd quarter valued at about $717,000. Czech National Bank grew its position in shares of Ameriprise Financial by 45.4% in the 3rd quarter. Czech National Bank now owns 17,937 shares of the financial services provider’s stock valued at $5,913,000 after buying an additional 5,604 shares during the last quarter. Asset Management One Co. Ltd. grew its position in shares of Ameriprise Financial by 1.2% in the 3rd quarter. Asset Management One Co. Ltd. now owns 45,711 shares of the financial services provider’s stock valued at $15,070,000 after buying an additional 529 shares during the last quarter. Finally, Handelsbanken Fonder AB boosted its position in shares of Ameriprise Financial by 5.8% during the 3rd quarter. Handelsbanken Fonder AB now owns 40,468 shares of the financial services provider’s stock valued at $13,341,000 after purchasing an additional 2,202 shares in the last quarter. Institutional investors and hedge funds own 83.95% of the company’s stock.

Ameriprise Financial Stock Down 0.3 %

Shares of Ameriprise Financial stock opened at $409.81 on Friday. The business’s 50 day simple moving average is $418.65 and its 200 day simple moving average is $380.77. Ameriprise Financial has a 52-week low of $279.85 and a 52-week high of $440.67. The firm has a market cap of $41.06 billion, a PE ratio of 13.95, a P/E/G ratio of 0.68 and a beta of 1.36. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.56 and a current ratio of 0.56.

Ameriprise Financial (NYSE:AMP) last announced its earnings results on Wednesday, April 24th. The financial services provider reported $8.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $8.10 by $0.29. Ameriprise Financial had a return on equity of 75.97% and a net margin of 19.42%. The business had revenue of $4.15 billion for the quarter, compared to analyst estimates of $4.15 billion. During the same quarter last year, the firm earned $7.25 EPS. Ameriprise Financial’s revenue for the quarter was up 10.8% compared to the same quarter last year. On average, analysts predict that Ameriprise Financial will post 34.58 earnings per share for the current fiscal year.

Ameriprise Financial Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 17th. Investors of record on Monday, May 6th will be paid a $1.48 dividend. The ex-dividend date is Friday, May 3rd. This is an increase from Ameriprise Financial’s previous quarterly dividend of $1.35. This represents a $5.92 annualized dividend and a yield of 1.44%. Ameriprise Financial’s payout ratio is 20.15%.

Ameriprise Financial Company Profile

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.