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

Ameriprise Financial, Inc. (NYSE:AMP) has been given a consensus rating of “Hold” by the eleven research firms that are covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, five have given a hold recommendation, four have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $555.6667.

Several analysts recently issued reports on the company. Morgan Stanley increased their target price on Ameriprise Financial from $484.00 to $485.00 and gave the stock an “underweight” rating in a research report on Monday, December 22nd. Royal Bank Of Canada restated an “outperform” rating and issued a $605.00 price target (up from $580.00) on shares of Ameriprise Financial in a research note on Monday. Piper Sandler upgraded shares of Ameriprise Financial from an “underweight” rating to a “neutral” rating and lifted their price objective for the company from $434.00 to $530.00 in a research report on Friday, January 30th. Keefe, Bruyette & Woods lowered their target price on shares of Ameriprise Financial from $550.00 to $530.00 and set a “market perform” rating on the stock in a report on Monday, November 3rd. Finally, Jefferies Financial Group raised their target price on shares of Ameriprise Financial from $600.00 to $620.00 and gave the company a “buy” rating in a research note on Monday.

Insider Activity at Ameriprise Financial

In related news, Director Robert Francis Sharpe, Jr. sold 1,500 shares of the stock in a transaction that occurred 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 completion of the transaction, the director directly owned 7,500 shares of the company’s stock, valued at approximately $3,382,050. This represents a 16.67% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.73% of the company’s stock.

Institutional Trading of Ameriprise Financial

Several hedge funds have recently modified their holdings of the company. Norges Bank bought a new stake in Ameriprise Financial in the second quarter worth $693,736,000. JPMorgan Chase & Co. lifted its position in Ameriprise Financial by 7.7% during the second 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. M&T Bank Corp increased its holdings in shares of Ameriprise Financial by 1,440.2% in the 4th quarter. M&T Bank Corp now owns 466,151 shares of the financial services provider’s stock worth $228,572,000 after buying an additional 435,885 shares during the last quarter. Qube Research & Technologies Ltd raised its position in shares of Ameriprise Financial by 140.5% during the 3rd quarter. Qube Research & Technologies Ltd now owns 471,867 shares of the financial services provider’s stock valued at $231,805,000 after buying an additional 275,659 shares in the last quarter. Finally, Man Group plc lifted its holdings in shares of Ameriprise Financial by 687.4% in the 3rd quarter. Man Group plc now owns 276,822 shares of the financial services provider’s stock valued at $135,989,000 after acquiring an additional 241,665 shares during the last quarter. 83.95% of the stock is owned by hedge funds and other institutional investors.

Ameriprise Financial Stock Performance

Shares of NYSE AMP opened at $534.69 on Friday. The stock has a market cap of $49.68 billion, a PE ratio of 14.71, a price-to-earnings-growth ratio of 1.28 and a beta of 1.26. Ameriprise Financial has a 1 year low of $396.14 and a 1 year high of $552.43. The firm has a fifty day moving average price of $497.87 and a 200-day moving average price of $492.25. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.68 and a quick ratio of 0.68.

Ameriprise Financial (NYSE:AMP) last issued its earnings results on Thursday, January 29th. The financial services provider reported $10.83 earnings per share 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 company had revenue of $4.90 billion during the quarter, compared to the consensus estimate of $4.75 billion. During the same quarter in the prior year, the firm posted $9.54 EPS. Ameriprise Financial’s quarterly revenue was up 10.2% compared to the same quarter last year. Equities analysts anticipate that Ameriprise Financial will post 38.64 earnings per share for the current fiscal year.

Ameriprise Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 27th. Stockholders of record on Monday, February 9th will be issued a $1.60 dividend. This represents a $6.40 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend is Monday, February 9th. Ameriprise Financial’s payout ratio is 17.60%.

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.