Ameriprise Financial (NYSE:AMP) Price Target Lowered to $550.00 at Royal Bank Of Canada

Ameriprise Financial (NYSE:AMP) had its target price reduced by Royal Bank Of Canada from $601.00 to $550.00 in a report published on Monday,Benzinga reports. They currently have an outperform rating on the financial services provider’s stock.

Other research analysts have also issued reports about the stock. Keefe, Bruyette & Woods raised their price objective on shares of Ameriprise Financial from $520.00 to $550.00 and gave the stock a “market perform” rating in a report on Wednesday, July 9th. Morgan Stanley decreased their price objective on shares of Ameriprise Financial from $530.00 to $484.00 and set an “underweight” rating for the company in a report on Wednesday, October 1st. Weiss Ratings reissued a “buy (b)” rating on shares of Ameriprise Financial in a report on Wednesday, October 8th. Raymond James Financial raised their price objective 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. Finally, William Blair lowered shares of Ameriprise Financial from an “outperform” rating to a “market perform” rating in a report on Friday, July 25th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, Ameriprise Financial presently has a consensus rating of “Hold” and an average target price of $530.63.

Ameriprise Financial Stock Performance

Ameriprise Financial stock opened at $452.58 on Monday. Ameriprise Financial has a 12-month low of $396.14 and a 12-month high of $582.05. The company has a market capitalization of $42.67 billion, a price-to-earnings ratio of 14.08, a price-to-earnings-growth ratio of 1.07 and a beta of 1.26. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.62 and a quick ratio of 0.62. The firm’s fifty day moving average price is $489.51 and its 200 day moving average price is $503.26.

Ameriprise Financial (NYSE:AMP) last announced its quarterly earnings data on Thursday, October 30th. The financial services provider reported $9.92 earnings per share for the quarter, topping the consensus estimate of $9.76 by $0.16. The company had revenue of $4.89 billion during the quarter, compared to analyst estimates of $4.51 billion. Ameriprise Financial had a net margin of 18.30% and a return on equity of 65.90%. The firm’s revenue for the quarter was up 9.0% compared to the same quarter last year. During the same period last year, the business earned $9.02 EPS. On average, research analysts forecast that Ameriprise Financial will post 38.64 EPS for the current fiscal year.

Ameriprise Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 24th. Stockholders of record on Monday, November 10th will be issued a $1.60 dividend. The ex-dividend date of this dividend is Monday, November 10th. This represents a $6.40 annualized dividend and a dividend yield of 1.4%. Ameriprise Financial’s payout ratio is 17.55%.

Insider Activity

In other Ameriprise Financial news, EVP Heather J. Melloh sold 1,500 shares of the business’s stock in a transaction dated Thursday, September 4th. The shares were sold at an average price of $512.34, for a total transaction of $768,510.00. Following the completion of the transaction, the executive vice president directly owned 2,562 shares of the company’s stock, valued at $1,312,615.08. The trade was a 36.93% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO William F. Truscott sold 9,929 shares of the business’s 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 transaction, the chief executive officer directly owned 11,047 shares of the company’s stock, valued at $5,599,613.83. The trade was a 47.34% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 0.73% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of AMP. Brighton Jones LLC boosted its stake in Ameriprise Financial by 6.9% during the 4th quarter. Brighton Jones LLC now owns 777 shares of the financial services provider’s stock valued at $413,000 after purchasing an additional 50 shares during the period. D.A. Davidson & CO. boosted its stake in Ameriprise Financial by 6.5% during the 1st quarter. D.A. Davidson & CO. now owns 4,421 shares of the financial services provider’s stock valued at $2,140,000 after purchasing an additional 268 shares during the period. Strategic Blueprint LLC boosted its stake in Ameriprise Financial by 32.0% during the 1st quarter. Strategic Blueprint LLC now owns 565 shares of the financial services provider’s stock valued at $274,000 after purchasing an additional 137 shares during the period. World Investment Advisors boosted its stake in Ameriprise Financial by 1.7% during the 1st quarter. World Investment Advisors now owns 1,654 shares of the financial services provider’s stock valued at $800,000 after purchasing an additional 27 shares during the period. Finally, Concurrent Investment Advisors LLC boosted its stake in Ameriprise Financial by 5.0% during the 1st quarter. Concurrent Investment Advisors LLC now owns 668 shares of the financial services provider’s stock valued at $323,000 after purchasing an additional 32 shares during the period. 83.95% of the stock is 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.