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

Shares of Ameriprise Financial, Inc. (NYSE:AMP) have been given a consensus recommendation of “Hold” by the nine brokerages that are covering the firm, MarketBeat reports. One analyst has rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $514.89.

Several equities analysts have commented on the company. UBS Group cut Ameriprise Financial from a “buy” rating to a “neutral” rating and cut their price target for the company from $580.00 to $570.00 in a report on Monday, January 6th. Morgan Stanley upped their target price on Ameriprise Financial from $507.00 to $542.00 and gave the company an “equal weight” rating in a research note on Tuesday, March 4th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $625.00 price objective on shares of Ameriprise Financial in a report on Monday, February 3rd. Keefe, Bruyette & Woods upped their target price on shares of Ameriprise Financial from $560.00 to $570.00 and gave the company a “market perform” rating in a research note on Monday, February 3rd. Finally, Piper Sandler raised their price target on shares of Ameriprise Financial from $415.00 to $442.00 and gave the stock an “underweight” rating in a research note on Friday, January 31st.

Ameriprise Financial Trading Up 3.3 %

Shares of AMP stock opened at $508.82 on Tuesday. The firm has a market capitalization of $48.91 billion, a P/E ratio of 15.39, a price-to-earnings-growth ratio of 1.15 and a beta of 1.33. Ameriprise Financial has a 1 year low of $385.74 and a 1 year high of $582.05. The firm’s fifty day simple moving average is $527.84 and its 200 day simple moving average is $521.83. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 1.01.

Ameriprise Financial (NYSE:AMP) last posted its quarterly earnings results on Wednesday, January 29th. The financial services provider reported $9.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $9.16 by $0.20. Ameriprise Financial had a net margin of 19.70% and a return on equity of 69.35%. As a group, sell-side analysts predict that Ameriprise Financial will post 38.64 EPS for the current year.

Ameriprise Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Monday, February 10th were paid a $1.48 dividend. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.16%. The ex-dividend date was Monday, February 10th. Ameriprise Financial’s dividend payout ratio (DPR) is currently 17.91%.

Insider Buying and Selling

In related news, CEO William F. Truscott sold 6,000 shares of the company’s stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $540.29, for a total transaction of $3,241,740.00. Following the transaction, the chief executive officer now owns 14,023 shares in the company, valued at $7,576,486.67. This represents a 29.97 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Joseph Edward Sweeney sold 4,636 shares of the firm’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $539.07, for a total transaction of $2,499,128.52. Following the completion of the sale, the insider now owns 7,237 shares of the company’s stock, valued at $3,901,249.59. The trade was a 39.05 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 11,636 shares of company stock worth $6,263,989 in the last three months. Insiders own 0.73% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Jones Financial Companies Lllp lifted its stake in shares of Ameriprise Financial by 24.3% during the fourth quarter. Jones Financial Companies Lllp now owns 1,674 shares of the financial services provider’s stock valued at $891,000 after acquiring an additional 327 shares during the period. Czech National Bank raised its holdings in Ameriprise Financial by 5.2% during the 4th quarter. Czech National Bank now owns 21,035 shares of the financial services provider’s stock worth $11,200,000 after purchasing an additional 1,033 shares during the last quarter. Empowered Funds LLC lifted its position in Ameriprise Financial by 19.9% during the 3rd quarter. Empowered Funds LLC now owns 8,021 shares of the financial services provider’s stock valued at $3,768,000 after purchasing an additional 1,329 shares during the period. Bridgewater Associates LP boosted its stake in shares of Ameriprise Financial by 97.8% in the 3rd quarter. Bridgewater Associates LP now owns 50,510 shares of the financial services provider’s stock valued at $23,730,000 after purchasing an additional 24,968 shares during the last quarter. Finally, SBI Securities Co. Ltd. acquired a new stake in shares of Ameriprise Financial during the 4th quarter worth approximately $43,000. 83.95% of the stock is currently owned by institutional investors.

Ameriprise Financial Company Profile

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.