Ameriprise Financial (NYSE:AMP) Reaches New 52-Week High – Should You Buy?

Ameriprise Financial, Inc. (NYSE:AMP) reached a new 52-week high during trading on Thursday . The stock traded as high as $571.65 and last traded at $571.65, with a volume of 73876 shares traded. The stock had previously closed at $561.40.

Wall Street Analyst Weigh In

AMP has been the topic of several research analyst reports. The Goldman Sachs Group cut shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and lowered their target price for the company from $485.00 to $476.00 in a research note on Thursday, September 26th. Keefe, Bruyette & Woods raised their target price on shares of Ameriprise Financial from $475.00 to $510.00 and gave the stock a “market perform” rating in a report on Tuesday, October 29th. UBS Group boosted their target price on shares of Ameriprise Financial from $490.00 to $555.00 and gave the company a “buy” rating in a research note on Tuesday, October 8th. Royal Bank of Canada increased their target price on Ameriprise Financial from $535.00 to $550.00 and gave the company an “outperform” rating in a report on Friday, October 25th. Finally, Morgan Stanley boosted their target price on shares of Ameriprise Financial from $440.00 to $502.00 and gave the company an “equal weight” rating in a research report on Thursday, October 17th. One research analyst has rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $487.67.

Ameriprise Financial Stock Up 0.3 %

The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.65 and a current ratio of 0.65. The company’s 50-day moving average price is $509.57 and its 200 day moving average price is $457.84. The stock has a market capitalization of $55.50 billion, a P/E ratio of 21.96, a P/E/G ratio of 0.99 and a beta of 1.34.

Ameriprise Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Monday, November 4th were given a $1.48 dividend. The ex-dividend date of this dividend was Monday, November 4th. This represents a $5.92 annualized dividend and a dividend yield of 1.03%. Ameriprise Financial’s payout ratio is 22.73%.

Insider Transactions at Ameriprise Financial

In related news, VP William Davies sold 8,700 shares of the business’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $442.07, for a total value of $3,846,009.00. Following the transaction, the vice president now directly owns 13,199 shares of the company’s stock, valued at approximately $5,834,881.93. The trade was a 39.73 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Joseph Edward Sweeney sold 10,735 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $549.68, for a total value of $5,900,814.80. Following the completion of the transaction, the insider now directly owns 5,811 shares in the company, valued at approximately $3,194,190.48. This represents a 64.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 30,415 shares of company stock valued at $15,829,445 over the last 90 days. Company insiders own 0.73% of the company’s stock.

Institutional Investors Weigh In On Ameriprise Financial

A number of hedge funds have recently bought and sold shares of the business. Anchor Investment Management LLC grew its holdings in Ameriprise Financial by 3,275.0% during the 3rd quarter. Anchor Investment Management LLC now owns 270 shares of the financial services provider’s stock valued at $127,000 after purchasing an additional 262 shares during the last quarter. Passumpsic Savings Bank bought a new stake in shares of Ameriprise Financial in the 3rd quarter valued at about $211,000. Unigestion Holding SA boosted its stake in shares of Ameriprise Financial by 80.0% during the third quarter. Unigestion Holding SA now owns 4,436 shares of the financial services provider’s stock valued at $2,084,000 after purchasing an additional 1,971 shares in the last quarter. Coldstream Capital Management Inc. increased its holdings in Ameriprise Financial by 6.6% during the third quarter. Coldstream Capital Management Inc. now owns 4,009 shares of the financial services provider’s stock valued at $1,899,000 after buying an additional 249 shares during the period. Finally, Geode Capital Management LLC raised its position in shares of Ameriprise Financial by 1.2% in the 3rd quarter. Geode Capital Management LLC now owns 2,609,486 shares of the financial services provider’s stock worth $1,222,943,000 after acquiring an additional 31,158 shares in the last quarter. Hedge funds and other 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.