Ameriprise Financial (NYSE:AMP) Price Target Cut to $460.00 by Analysts at Piper Sandler

Ameriprise Financial (NYSE:AMP) had its target price trimmed by Piper Sandler from $530.00 to $460.00 in a research report released on Tuesday,Benzinga reports. The firm currently has a neutral rating on the financial services provider’s stock.

Other research analysts have also recently issued research reports about the stock. Royal Bank Of Canada restated an “outperform” rating and issued a $605.00 target price (up from $580.00) on shares of Ameriprise Financial in a research report on Monday, February 2nd. Morgan Stanley increased their price target on Ameriprise Financial from $484.00 to $485.00 and gave the stock an “underweight” rating in a research note on Monday, December 22nd. BMO Capital Markets reissued a “market perform” rating on shares of Ameriprise Financial in a research note on Tuesday, March 3rd. Weiss Ratings reissued a “buy (b-)” rating on shares of Ameriprise Financial in a research note on Monday, December 29th. Finally, Raymond James Financial set a $582.00 price target on Ameriprise Financial and gave the stock a “strong-buy” rating in a research note on Wednesday, February 11th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Ameriprise Financial currently has a consensus rating of “Hold” and a consensus price target of $547.89.

Ameriprise Financial Price Performance

NYSE AMP opened at $431.62 on Tuesday. Ameriprise Financial has a 52 week low of $418.54 and a 52 week high of $550.18. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 0.86. The stock has a market cap of $39.36 billion, a price-to-earnings ratio of 11.87, a price-to-earnings-growth ratio of 1.05 and a beta of 1.27. The company has a 50-day moving average price of $469.36 and a two-hundred day moving average price of $477.48.

Ameriprise Financial (NYSE:AMP) last posted its earnings results on Thursday, January 29th. The financial services provider reported $10.83 EPS for the quarter, topping the consensus estimate of $10.33 by $0.50. Ameriprise Financial had a net margin of 19.28% and a return on equity of 63.04%. The firm had revenue of $4.92 billion during the quarter, compared to analysts’ expectations of $4.75 billion. During the same quarter in the prior year, the firm earned $9.54 EPS. Ameriprise Financial’s quarterly revenue was up 10.2% on a year-over-year basis. Analysts forecast that Ameriprise Financial will post 38.64 EPS for the current year.

Ameriprise Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 27th. Stockholders of record on Monday, February 9th were issued a $1.60 dividend. The ex-dividend date was Monday, February 9th. This represents a $6.40 annualized dividend and a dividend yield of 1.5%. Ameriprise Financial’s dividend payout ratio (DPR) is 17.60%.

Insider Activity

In related news, CEO William F. Truscott sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, February 10th. The stock was sold at an average price of $532.08, for a total transaction of $2,660,400.00. Following the completion of the transaction, the chief executive officer owned 12,149 shares of the company’s stock, valued at $6,464,239.92. This trade represents a 29.16% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Gumer Alvero sold 4,658 shares of the firm’s stock in a transaction dated Monday, February 9th. The shares were sold at an average price of $542.88, for a total value of $2,528,735.04. Following the transaction, the insider directly owned 4,621 shares of the company’s stock, valued at $2,508,648.48. This represents a 50.20% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 16,658 shares of company stock worth $8,998,675 over the last three months. Corporate insiders own 0.73% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. SouthState Bank Corp boosted its holdings in Ameriprise Financial by 78.6% during the fourth quarter. SouthState Bank Corp now owns 50 shares of the financial services provider’s stock worth $25,000 after buying an additional 22 shares in the last quarter. Holos Integrated Wealth LLC bought a new stake in Ameriprise Financial during the fourth quarter worth approximately $30,000. Heartwood Wealth Advisors LLC bought a new stake in Ameriprise Financial during the third quarter worth approximately $32,000. Redmont Wealth Advisors LLC bought a new stake in Ameriprise Financial during the third quarter worth approximately $32,000. Finally, Ares Financial Consulting LLC bought a new stake in Ameriprise Financial during the fourth quarter worth approximately $32,000. Institutional investors own 83.95% of the company’s stock.

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.