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

Ameriprise Financial, Inc. (NYSE:AMPGet Free Report) has received a consensus rating of “Hold” from the ten brokerages that are presently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, four have given a hold recommendation and five have given a buy recommendation to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $462.89.

AMP has been the topic of several recent analyst reports. Keefe, Bruyette & Woods raised their price target on Ameriprise Financial from $460.00 to $470.00 and gave the company a “market perform” rating in a report on Monday. The Goldman Sachs Group raised their price target on Ameriprise Financial from $437.00 to $488.00 and gave the company a “buy” rating in a report on Wednesday, March 27th. Piper Sandler lowered their price target on Ameriprise Financial from $390.00 to $387.00 and set an “underweight” rating on the stock in a report on Friday, June 28th. Raymond James initiated coverage on Ameriprise Financial in a report on Thursday, March 21st. They set a “market perform” rating on the stock. Finally, Royal Bank of Canada raised their price objective on Ameriprise Financial from $470.00 to $480.00 and gave the company an “outperform” rating in a report on Wednesday, April 24th.

Get Our Latest Analysis on Ameriprise Financial

Ameriprise Financial Stock Performance

Shares of AMP opened at $440.69 on Thursday. The stock’s 50-day simple moving average is $431.82 and its 200 day simple moving average is $413.74. The stock has a market capitalization of $43.77 billion, a price-to-earnings ratio of 15.00, a price-to-earnings-growth ratio of 0.73 and a beta of 1.37. 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 has a 52-week low of $306.63 and a 52-week high of $446.32.

Ameriprise Financial (NYSE:AMPGet Free Report) last issued its quarterly earnings data on Wednesday, April 24th. The financial services provider reported $8.39 earnings per share (EPS) for the quarter, topping 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 analysts’ expectations of $4.15 billion. During the same quarter in the prior year, the firm posted $7.25 EPS. The firm’s quarterly revenue was up 10.8% on a year-over-year basis. Research analysts forecast that Ameriprise Financial will post 34.92 EPS for the current fiscal year.

Ameriprise Financial Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 17th. Stockholders of record on Monday, May 6th were paid a $1.48 dividend. The ex-dividend date was Friday, May 3rd. This represents a $5.92 annualized dividend and a dividend yield of 1.34%. This is a boost from Ameriprise Financial’s previous quarterly dividend of $1.35. Ameriprise Financial’s payout ratio is currently 20.15%.

Insider Transactions at Ameriprise Financial

In other news, Director Robert Francis Sharpe, Jr. sold 1,500 shares of the company’s stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $438.07, for a total value of $657,105.00. Following the completion of the transaction, the director now owns 11,000 shares of the company’s stock, valued at $4,818,770. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.96% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Venture Visionary Partners LLC lifted its holdings in shares of Ameriprise Financial by 2.9% during the 4th quarter. Venture Visionary Partners LLC now owns 14,874 shares of the financial services provider’s stock valued at $5,650,000 after purchasing an additional 416 shares during the last quarter. 17 Capital Partners LLC purchased a new stake in shares of Ameriprise Financial during the 4th quarter valued at approximately $2,078,000. Vanguard Personalized Indexing Management LLC raised its position in shares of Ameriprise Financial by 0.5% during the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 13,600 shares of the financial services provider’s stock valued at $5,166,000 after buying an additional 73 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in Ameriprise Financial by 3.9% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 110,995 shares of the financial services provider’s stock valued at $42,238,000 after purchasing an additional 4,203 shares during the last quarter. Finally, Cerity Partners LLC grew its stake in shares of Ameriprise Financial by 280.6% in the fourth quarter. Cerity Partners LLC now owns 30,502 shares of the financial services provider’s stock worth $11,585,000 after acquiring an additional 22,487 shares in the last quarter. Institutional investors own 83.95% of the company’s stock.

About Ameriprise Financial

(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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Analyst Recommendations for Ameriprise Financial (NYSE:AMP)

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