Ameriprise Financial (NYSE:AMP) Given New $530.00 Price Target at Keefe, Bruyette & Woods

Ameriprise Financial (NYSE:AMP) had its target price trimmed by Keefe, Bruyette & Woods from $550.00 to $530.00 in a research report sent to investors on Monday morning,Benzinga reports. The firm currently has a market perform rating on the financial services provider’s stock.

Other equities analysts have also recently issued research reports about the stock. Weiss Ratings restated a “buy (b)” rating on shares of Ameriprise Financial in a research note on Wednesday, October 8th. Evercore ISI dropped their price objective on shares of Ameriprise Financial from $587.00 to $570.00 and set an “in-line” rating for the company in a research note on Thursday, October 9th. Royal Bank Of Canada lowered their target price on shares of Ameriprise Financial from $601.00 to $550.00 and set an “outperform” rating on the stock in a report on Monday. William Blair lowered shares of Ameriprise Financial from an “outperform” rating to a “market perform” rating in a report on Friday, July 25th. Finally, Raymond James Financial upped their target price on shares of Ameriprise Financial from $518.00 to $582.00 and gave the stock a “strong-buy” rating in a report on Friday, July 25th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $530.63.

Ameriprise Financial Price Performance

NYSE:AMP opened at $452.58 on Monday. The stock has a market cap of $42.67 billion, a P/E ratio of 14.08, a PEG ratio of 1.07 and a beta of 1.26. Ameriprise Financial has a one year low of $396.14 and a one year high of $582.05. The company has a fifty day moving average price of $489.51 and a 200 day moving average price of $503.26. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.62 and a quick ratio of 0.62.

Ameriprise Financial (NYSE:AMP) last announced its quarterly earnings data on Thursday, October 30th. The financial services provider reported $9.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $9.76 by $0.16. Ameriprise Financial had a net margin of 18.30% and a return on equity of 65.90%. The company had revenue of $4.89 billion during the quarter, compared to analysts’ expectations of $4.51 billion. During the same quarter in the prior year, the company posted $9.02 EPS. The business’s revenue was up 9.0% on a year-over-year basis. Analysts anticipate that Ameriprise Financial will post 38.64 earnings per share for the current year.

Ameriprise Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 24th. Shareholders of record on Monday, November 10th will be issued a dividend of $1.60 per share. The ex-dividend date of this dividend is Monday, November 10th. This represents a $6.40 dividend on an annualized basis and a yield of 1.4%. Ameriprise Financial’s dividend payout ratio is currently 17.55%.

Insider Transactions at Ameriprise Financial

In other Ameriprise Financial news, CEO William F. Truscott sold 9,929 shares of the stock in a transaction dated Tuesday, August 19th. The shares were sold at an average price of $506.89, for a total transaction of $5,032,910.81. Following the sale, the chief executive officer owned 11,047 shares of the company’s stock, valued at $5,599,613.83. This represents a 47.34% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Heather J. Melloh sold 1,500 shares of the stock in a transaction dated Thursday, September 4th. The stock was sold at an average price of $512.34, for a total transaction of $768,510.00. Following the sale, the executive vice president directly owned 2,562 shares in the company, valued at approximately $1,312,615.08. This represents a 36.93% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.73% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. AlphaQuest LLC lifted its position in Ameriprise Financial by 7.9% during the 3rd quarter. AlphaQuest LLC now owns 3,538 shares of the financial services provider’s stock valued at $1,738,000 after purchasing an additional 259 shares during the period. Impact Partnership Wealth LLC lifted its position in Ameriprise Financial by 40.8% during the 3rd quarter. Impact Partnership Wealth LLC now owns 1,646 shares of the financial services provider’s stock valued at $809,000 after purchasing an additional 477 shares during the period. AE Wealth Management LLC lifted its position in Ameriprise Financial by 104.2% during the 3rd quarter. AE Wealth Management LLC now owns 3,962 shares of the financial services provider’s stock valued at $1,946,000 after purchasing an additional 2,022 shares during the period. Great Lakes Advisors LLC lifted its position in Ameriprise Financial by 3.2% during the 3rd quarter. Great Lakes Advisors LLC now owns 7,606 shares of the financial services provider’s stock valued at $3,736,000 after purchasing an additional 237 shares during the period. Finally, Fidelis Capital Partners LLC lifted its position in Ameriprise Financial by 12.4% during the 3rd quarter. Fidelis Capital Partners LLC now owns 799 shares of the financial services provider’s stock valued at $393,000 after purchasing an additional 88 shares during the period. 83.95% of the stock is currently owned by institutional investors and hedge funds.

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.