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

Ameriprise Financial, Inc. (NYSE:AMP) has been given an average recommendation of “Hold” by the ten brokerages that are covering the company, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, three have given a buy rating and one has given a strong buy rating to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $528.75.

A number of brokerages have recently commented on AMP. Morgan Stanley increased their target price on shares of Ameriprise Financial from $484.00 to $485.00 and gave the company an “underweight” rating in a research report on Monday, December 22nd. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Ameriprise Financial in a research note on Monday, December 29th. BMO Capital Markets assumed coverage on shares of Ameriprise Financial in a report on Friday, October 3rd. They issued a “market perform” rating and a $525.00 price objective for the company. Royal Bank Of Canada lowered their target price on Ameriprise Financial from $601.00 to $550.00 and set an “outperform” rating on the stock in a report on Monday, November 3rd. Finally, Argus dropped their price target on Ameriprise Financial from $568.00 to $554.00 and set a “buy” rating for the company in a research report on Thursday, November 13th.

Ameriprise Financial Stock Performance

Shares of NYSE:AMP opened at $508.25 on Monday. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.68 and a quick ratio of 0.68. Ameriprise Financial has a 1 year low of $396.14 and a 1 year high of $582.05. The firm has a market capitalization of $47.22 billion, a PE ratio of 13.94, a P/E/G ratio of 1.26 and a beta of 1.26. The business’s 50 day moving average price is $475.82 and its 200-day moving average price is $494.90.

Ameriprise Financial (NYSE:AMP) last posted its quarterly earnings data on Thursday, October 30th. The financial services provider reported $9.92 EPS for the quarter, beating the consensus estimate of $9.76 by $0.16. The firm had revenue of $4.73 billion during the quarter, compared to the consensus estimate of $4.51 billion. Ameriprise Financial had a return on equity of 64.97% and a net margin of 20.12%.The firm’s revenue was up 9.0% compared to the same quarter last year. During the same period in the prior year, the company earned $9.02 EPS. As a group, equities research analysts expect that Ameriprise Financial will post 38.64 earnings per share for the current fiscal year.

Ameriprise Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, November 24th. Shareholders of record on Monday, November 10th were issued a $1.60 dividend. This represents a $6.40 annualized dividend and a yield of 1.3%. The ex-dividend date was Monday, November 10th. Ameriprise Financial’s dividend payout ratio is presently 17.55%.

Insider Activity at Ameriprise Financial

In other news, Director Robert Francis Sharpe, Jr. sold 1,500 shares of Ameriprise Financial stock in a transaction on Friday, November 21st. The stock was sold at an average price of $450.94, for a total transaction of $676,410.00. Following the transaction, the director owned 7,500 shares in the company, valued at $3,382,050. The trade was a 16.67% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.57% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Ameriprise Financial

A number of institutional investors have recently bought and sold shares of the company. Whipplewood Advisors LLC increased its holdings in shares of Ameriprise Financial by 71.0% during the 2nd quarter. Whipplewood Advisors LLC now owns 53 shares of the financial services provider’s stock worth $28,000 after buying an additional 22 shares during the last quarter. Salomon & Ludwin LLC grew its position in Ameriprise Financial by 115.4% in the second quarter. Salomon & Ludwin LLC now owns 56 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 30 shares during the period. Holos Integrated Wealth LLC acquired a new stake in Ameriprise Financial during the fourth quarter worth $30,000. Winnow Wealth LLC purchased a new stake in Ameriprise Financial in the second quarter valued at $32,000. Finally, Heartwood Wealth Advisors LLC purchased a new stake in Ameriprise Financial in the third quarter valued at $32,000. 83.95% of the stock is owned by hedge funds and other institutional investors.

Ameriprise Financial Company Profile

Ameriprise Financial, Inc is a diversified financial services company headquartered in Minneapolis, Minnesota. The firm provides a range of advice-based wealth management, asset management and insurance products to individual and institutional clients. Its business model centers on delivering financial planning and investment advice through a network of financial advisors alongside proprietary product offerings designed to meet retirement, protection and accumulation needs.

Core products and services include comprehensive financial planning and advisory services, managed investment portfolios, retirement planning solutions, annuities and life insurance products.