Ameriprise Financial, Inc. (NYSE:AMP) Receives $543.22 Average Price Target from Analysts

Shares of Ameriprise Financial, Inc. (NYSE:AMP) have been assigned an average recommendation of “Hold” from the eleven brokerages that are currently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, five have assigned a hold rating, four have given a buy rating and one has given a strong buy rating to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $543.2222.

Several equities research analysts have commented on AMP shares. Morgan Stanley upped their target price on shares of Ameriprise Financial from $452.00 to $467.00 and gave the company an “underweight” rating in a research note on Thursday, April 30th. Jefferies Financial Group increased their target price on shares of Ameriprise Financial from $600.00 to $620.00 and gave the stock a “buy” rating in a report on Monday, February 2nd. Piper Sandler increased their target price on shares of Ameriprise Financial from $460.00 to $471.00 and gave the stock a “neutral” rating in a report on Monday, May 4th. Royal Bank Of Canada reiterated 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, February 2nd. Finally, Keefe, Bruyette & Woods began coverage on shares of Ameriprise Financial in a research report on Friday, April 10th. They issued a “hold” rating on the stock.

Insider Transactions at Ameriprise Financial

In related news, Director Robert Francis Sharpe, Jr. sold 1,200 shares of the firm’s stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $465.83, for a total transaction of $558,996.00. Following the transaction, the director directly owned 6,300 shares of the company’s stock, valued at approximately $2,934,729. This trade represents a 16.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Gerard P. Smyth sold 6,255 shares of the firm’s stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $472.52, for a total transaction of $2,955,612.60. Following the transaction, the executive vice president directly owned 6,103 shares in the company, valued at approximately $2,883,789.56. This represents a 50.61% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Ameriprise Financial

Hedge funds have recently bought and sold shares of the company. SouthState Bank Corp increased its holdings in Ameriprise Financial by 78.6% in the 4th quarter. SouthState Bank Corp now owns 50 shares of the financial services provider’s stock valued at $25,000 after buying an additional 22 shares during the period. Cassaday & Co Wealth Management LLC acquired a new stake in Ameriprise Financial during the 1st quarter worth approximately $28,000. Holos Integrated Wealth LLC acquired a new stake in Ameriprise Financial during the 4th quarter worth approximately $30,000. Redmont Wealth Advisors LLC acquired a new stake in Ameriprise Financial during the 3rd quarter worth approximately $32,000. Finally, Ares Financial Consulting LLC bought a new position in Ameriprise Financial during the 4th quarter worth approximately $32,000. 83.95% of the stock is owned by institutional investors.

Ameriprise Financial Trading Down 1.6%

AMP opened at $450.10 on Friday. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.66 and a quick ratio of 0.66. The company has a market cap of $40.46 billion, a price-to-earnings ratio of 11.19, a price-to-earnings-growth ratio of 1.08 and a beta of 1.20. The firm has a 50 day simple moving average of $454.29 and a 200 day simple moving average of $473.41. Ameriprise Financial has a fifty-two week low of $422.37 and a fifty-two week high of $550.18.

Ameriprise Financial (NYSE:AMP) last released its quarterly earnings data on Thursday, April 23rd. The financial services provider reported $11.26 earnings per share for the quarter, topping the consensus estimate of $10.21 by $1.05. Ameriprise Financial had a net margin of 20.57% and a return on equity of 62.88%. The business had revenue of $4.77 billion for the quarter, compared to analyst estimates of $4.82 billion. During the same quarter last year, the firm earned $9.50 EPS. Ameriprise Financial’s quarterly revenue was up 9.7% compared to the same quarter last year. On average, sell-side analysts anticipate that Ameriprise Financial will post 42.63 earnings per share for the current year.

Ameriprise Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 22nd. Stockholders of record on Monday, May 4th will be given a $1.70 dividend. The ex-dividend date of this dividend is Monday, May 4th. This is a boost from Ameriprise Financial’s previous quarterly dividend of $1.60. This represents a $6.80 annualized dividend and a dividend yield of 1.5%. Ameriprise Financial’s payout ratio is currently 16.91%.

About Ameriprise Financial

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.