Ameriprise Financial’s (AMP) Outperform Rating Reaffirmed at Royal Bank Of Canada

Royal Bank Of Canada reissued their outperform rating on shares of Ameriprise Financial (NYSE:AMP) in a report issued on Monday,Benzinga reports. The firm currently has a $605.00 price objective on the financial services provider’s stock, up from their previous price objective of $580.00.

Several other research analysts have also recently weighed in on AMP. Piper Sandler upgraded Ameriprise Financial from an “underweight” rating to a “neutral” rating and increased their price objective for the stock from $434.00 to $530.00 in a research report on Friday. Keefe, Bruyette & Woods decreased their price target on shares of Ameriprise Financial from $550.00 to $530.00 and set a “market perform” rating on the stock in a research note on Monday, November 3rd. Evercore ISI lowered their price target on shares of Ameriprise Financial from $587.00 to $570.00 and set an “in-line” rating on the stock in a research report on Thursday, October 9th. Jefferies Financial Group boosted their price objective on shares of Ameriprise Financial from $600.00 to $620.00 and gave the company a “buy” rating in a report on Monday. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Ameriprise Financial in a research report on Monday, December 29th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $555.67.

Ameriprise Financial Trading Up 0.8%

Shares of AMP stock opened at $531.37 on Monday. The firm has a 50 day moving average price of $492.88 and a two-hundred day moving average price of $491.68. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 0.86. The company has a market capitalization of $49.37 billion, a PE ratio of 14.61, a price-to-earnings-growth ratio of 1.35 and a beta of 1.26. Ameriprise Financial has a 12-month low of $396.14 and a 12-month high of $552.43.

Ameriprise Financial (NYSE:AMP) last posted its earnings results on Thursday, January 29th. The financial services provider reported $10.83 EPS for the quarter, beating the consensus estimate of $10.33 by $0.50. The company had revenue of $4.90 billion for the quarter, compared to the consensus estimate of $4.75 billion. Ameriprise Financial had a return on equity of 63.04% and a net margin of 19.28%.The firm’s revenue for the quarter was up 10.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $9.54 earnings per share. As a group, analysts predict that Ameriprise Financial will post 38.64 earnings per share for the current year.

Ameriprise Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 27th. Shareholders of record on Monday, February 9th will be paid a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date is Monday, February 9th. Ameriprise Financial’s dividend payout ratio is presently 17.60%.

Insider Buying and Selling

In other news, Director Robert Francis Sharpe, Jr. sold 1,500 shares of the business’s stock in a transaction that occurred on Friday, November 21st. The shares were sold at an average price of $450.94, for a total value of $676,410.00. Following the completion of the transaction, the director directly owned 7,500 shares in the company, valued at approximately $3,382,050. The trade was a 16.67% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.73% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in AMP. Vanguard Group Inc. raised its position in Ameriprise Financial by 0.9% during the second quarter. Vanguard Group Inc. now owns 12,432,261 shares of the financial services provider’s stock valued at $6,635,471,000 after purchasing an additional 111,386 shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of Ameriprise Financial by 7.7% in the 2nd quarter. JPMorgan Chase & Co. now owns 6,270,995 shares of the financial services provider’s stock valued at $3,347,019,000 after purchasing an additional 446,080 shares during the last quarter. State Street Corp raised its holdings in shares of Ameriprise Financial by 0.4% during the 3rd quarter. State Street Corp now owns 4,420,072 shares of the financial services provider’s stock worth $2,171,360,000 after buying an additional 18,879 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Ameriprise Financial by 1.7% during the 2nd quarter. Geode Capital Management LLC now owns 2,818,428 shares of the financial services provider’s stock worth $1,500,115,000 after buying an additional 47,584 shares in the last quarter. Finally, Norges Bank bought a new stake in shares of Ameriprise Financial during the 2nd quarter worth $693,736,000. 83.95% of the stock is owned by 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.