Ameriprise Financial, Inc. (NYSE:AMP) Receives Consensus Rating of “Hold” from Brokerages

Shares of Ameriprise Financial, Inc. (NYSE:AMP) have earned a consensus rating of “Hold” from the eleven research firms that are presently covering the company, Marketbeat reports. Two investment analysts have rated the stock with a sell recommendation, five have assigned a hold recommendation, three have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $533.2222.

Several equities analysts have commented on AMP shares. Morgan Stanley lowered their price objective on Ameriprise Financial from $530.00 to $484.00 and set an “underweight” rating for the company in a research report on Wednesday, October 1st. Weiss Ratings reissued a “buy (b)” rating on shares of Ameriprise Financial in a research note on Wednesday, October 8th. Keefe, Bruyette & Woods lowered their target price on shares of Ameriprise Financial from $550.00 to $530.00 and set a “market perform” rating for the company in a report on Monday, November 3rd. Royal Bank Of Canada cut their price target on Ameriprise Financial from $601.00 to $550.00 and set an “outperform” rating on the stock in a research note on Monday, November 3rd. Finally, BMO Capital Markets initiated coverage on Ameriprise Financial in a research note on Friday, October 3rd. They set a “market perform” rating and a $525.00 price objective for the company.

Ameriprise Financial Stock Performance

Ameriprise Financial stock opened at $447.55 on Friday. Ameriprise Financial has a fifty-two week low of $396.14 and a fifty-two week high of $582.05. The stock’s 50 day simple moving average is $475.21 and its two-hundred day simple moving average is $501.47. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.62 and a current ratio of 0.62. The stock has a market cap of $41.58 billion, a price-to-earnings ratio of 13.92, a PEG ratio of 1.07 and a beta of 1.28.

Ameriprise Financial (NYSE:AMP) last announced its earnings results on Thursday, October 30th. The financial services provider reported $9.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $9.76 by $0.16. Ameriprise Financial had a return on equity of 65.90% and a net margin of 18.30%.The firm had revenue of $4.73 billion during the quarter, compared to analyst estimates of $4.51 billion. During the same quarter in the prior year, the company earned $9.02 EPS. The business’s revenue was up 9.0% compared to the same quarter last year. As a group, analysts expect that Ameriprise Financial will post 38.64 earnings per share for the current fiscal year.

Ameriprise Financial Announces Dividend

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

Insiders Place Their Bets

In other Ameriprise Financial news, EVP Heather J. Melloh sold 1,500 shares of the firm’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 sale, the executive vice president directly owned 2,562 shares in the company, valued at approximately $1,312,615.08. This trade represents a 36.93% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.73% of the company’s stock.

Institutional Investors Weigh In On Ameriprise Financial

Several institutional investors and hedge funds have recently made changes to their positions in AMP. Trust Co. of Vermont boosted its stake in Ameriprise Financial by 0.6% during the 2nd quarter. Trust Co. of Vermont now owns 3,031 shares of the financial services provider’s stock valued at $1,618,000 after purchasing an additional 19 shares during the last quarter. Plancorp LLC boosted its position in shares of Ameriprise Financial by 4.8% during the first quarter. Plancorp LLC now owns 441 shares of the financial services provider’s stock valued at $213,000 after buying an additional 20 shares during the last quarter. Old Port Advisors increased its holdings in Ameriprise Financial by 1.5% in the 2nd quarter. Old Port Advisors now owns 1,381 shares of the financial services provider’s stock worth $737,000 after buying an additional 20 shares in the last quarter. Linden Thomas Advisory Services LLC raised its position in Ameriprise Financial by 0.5% in the 2nd quarter. Linden Thomas Advisory Services LLC now owns 4,096 shares of the financial services provider’s stock worth $2,186,000 after buying an additional 20 shares during the last quarter. Finally, Pinnacle Associates Ltd. lifted its stake in Ameriprise Financial by 1.6% during the 1st quarter. Pinnacle Associates Ltd. now owns 1,374 shares of the financial services provider’s stock valued at $665,000 after acquiring an additional 21 shares during the period. Institutional investors own 83.95% of the company’s stock.

About Ameriprise Financial

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.