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

Ameriprise Financial, Inc. (NYSE:AMP) has been given an average rating of “Hold” by the eight brokerages that are currently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, two have given a buy rating and one has issued a strong buy rating on the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $515.88.

A number of research analysts recently issued reports on the company. Piper Sandler boosted their price objective on Ameriprise Financial from $415.00 to $442.00 and gave the company an “underweight” rating in a research report on Friday, January 31st. Raymond James upgraded shares of Ameriprise Financial from a “market perform” rating to a “strong-buy” rating and set a $518.00 price objective for the company in a research report on Monday, April 7th. Keefe, Bruyette & Woods reduced their price objective on Ameriprise Financial from $520.00 to $510.00 and set a “market perform” rating for the company in a research note on Tuesday, April 29th. Royal Bank of Canada upped their price target on Ameriprise Financial from $550.00 to $565.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 29th. Finally, Morgan Stanley upped their price objective on shares of Ameriprise Financial from $507.00 to $542.00 and gave the company an “equal weight” rating in a research report on Tuesday, March 4th.

Ameriprise Financial Stock Down 1.1 %

NYSE AMP opened at $475.58 on Wednesday. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 1.01. The business has a 50 day moving average price of $478.81 and a two-hundred day moving average price of $520.55. The stock has a market cap of $45.57 billion, a PE ratio of 14.39, a P/E/G ratio of 1.15 and a beta of 1.28. Ameriprise Financial has a fifty-two week low of $385.74 and a fifty-two week high of $582.05.

Ameriprise Financial (NYSE:AMP) last issued its earnings results on Thursday, April 24th. The financial services provider reported $9.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $9.08 by $0.42. Ameriprise Financial had a net margin of 19.70% and a return on equity of 69.35%. The business had revenue of $4.35 billion for the quarter, compared to analyst estimates of $4.45 billion. During the same quarter in the prior year, the business posted $8.39 EPS. The company’s revenue for the quarter was up 3.6% on a year-over-year basis. As a group, sell-side analysts predict that Ameriprise Financial will post 38.64 EPS for the current fiscal year.

Ameriprise Financial announced that its Board of Directors has initiated a share repurchase program on Thursday, April 24th that authorizes the company to buyback $4.50 billion in outstanding shares. This buyback authorization authorizes the financial services provider to reacquire up to 9.9% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its stock is undervalued.

Ameriprise Financial Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, May 19th. Investors of record on Monday, May 5th will be given a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a dividend yield of 1.35%. This is an increase from Ameriprise Financial’s previous quarterly dividend of $1.48. The ex-dividend date of this dividend is Monday, May 5th. Ameriprise Financial’s dividend payout ratio (DPR) is currently 21.75%.

Insiders Place Their Bets

In other Ameriprise Financial news, Director Robert Francis Sharpe, Jr. sold 1,000 shares of Ameriprise Financial stock in a transaction on Wednesday, February 12th. The shares were sold at an average price of $523.12, for a total transaction of $523,120.00. Following the completion of the transaction, the director now directly owns 10,000 shares of the company’s stock, valued at $5,231,200. The trade was a 9.09 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO William F. Truscott sold 6,000 shares of the stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $540.29, for a total transaction of $3,241,740.00. Following the completion of the transaction, the chief executive officer now directly owns 14,023 shares in the company, valued at $7,576,486.67. The trade was a 29.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 11,636 shares of company stock valued at $6,263,989. 0.73% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Ameriprise Financial

A number of institutional investors have recently made changes to their positions in the company. Cerro Pacific Wealth Advisors LLC grew its position in Ameriprise Financial by 3.4% during the fourth quarter. Cerro Pacific Wealth Advisors LLC now owns 576 shares of the financial services provider’s stock worth $307,000 after buying an additional 19 shares in the last quarter. SRS Capital Advisors Inc. grew its position in shares of Ameriprise Financial by 40.0% in the 4th quarter. SRS Capital Advisors Inc. now owns 70 shares of the financial services provider’s stock worth $37,000 after buying an additional 20 shares during the last quarter. HighPoint Advisor Group LLC raised its position in shares of Ameriprise Financial by 0.8% in the 4th quarter. HighPoint Advisor Group LLC now owns 2,683 shares of the financial services provider’s stock worth $1,419,000 after acquiring an additional 20 shares in the last quarter. Dakota Wealth Management grew its position in shares of Ameriprise Financial by 2.7% in the 4th quarter. Dakota Wealth Management now owns 798 shares of the financial services provider’s stock worth $425,000 after buying an additional 21 shares during the period. Finally, Abel Hall LLC boosted its position in shares of Ameriprise Financial by 4.2% in the 4th quarter. Abel Hall LLC now owns 517 shares of the financial services provider’s stock worth $275,000 after purchasing an additional 21 shares in the last quarter. Institutional investors own 83.95% of the company’s stock.

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.