Ameriprise Financial, Inc. (NYSE:AMP) Stock Has Average Price Target of $557.00

Shares of Ameriprise Financial, Inc. (NYSE:AMP) have been given an average recommendation of “Hold” by the twelve ratings firms that are currently covering the company, MarketBeat reports. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating, four have assigned a buy rating and one has issued a strong buy rating on the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $557.00.

AMP has been the topic of several recent research reports. Keefe, Bruyette & Woods lifted their target price on shares of Ameriprise Financial from $515.00 to $545.00 and gave the stock a “market perform” rating in a research note on Friday, July 24th. Evercore reduced their target price on shares of Ameriprise Financial from $625.00 to $623.00 in a research report on Friday, July 24th. Jefferies Financial Group reduced their target price on shares of Ameriprise Financial from $645.00 to $638.00 in a research report on Monday, October 12th. The Goldman Sachs Group decreased their price target on shares of Ameriprise Financial from $562.00 to $524.00 and set a “neutral” rating on the stock in a research note on Friday, October 2nd. Finally, Zacks Research lowered shares of Ameriprise Financial from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 21st.

Ameriprise Financial Stock Performance

Shares of NYSE:AMP opened at $513.85 on Friday. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.68 and a quick ratio of 0.68. Ameriprise Financial has a 1 year low of $422.37 and a 1 year high of $572.56. The firm has a market capitalization of $44.61 billion, a PE ratio of 11.56, a P/E/G ratio of 1.10 and a beta of 1.13. The business’s 50 day moving average price is $511.96 and its 200-day moving average price is $493.49.

Ameriprise Financial (NYSE:AMP) last posted its quarterly earnings data on Thursday, October 29th. The financial services provider reported $11.26 EPS for the quarter, missing the consensus estimate of $11.77 by ($0.51). Ameriprise Financial had a net margin of 20.99% and a return on equity of 69.94%. The firm had revenue of $5.08 billion during the quarter, compared to analyst estimates of $5.10 billion. During the same period in the prior year, the company posted $9.92 earnings per share. The firm’s revenue for the quarter was up 6.8% compared to the same quarter last year. As a group, equities research analysts expect that Ameriprise Financial will post 46.43 earnings per share for the current fiscal year.

Ameriprise Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 27th. Shareholders of record on Monday, November 9th will be issued a $1.70 dividend. The ex-dividend date is Monday, November 9th. This represents a $6.80 dividend on an annualized basis and a yield of 1.3%. Ameriprise Financial’s dividend payout ratio is presently 15.30%.

Ameriprise Financial announced that its board has approved a share buyback plan on Tuesday, September 29th that allows the company to repurchase $5.50 billion in outstanding shares. This repurchase authorization allows the financial services provider to reacquire up to 12.3% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Twin Lakes Capital Management LLC purchased a new stake in shares of Ameriprise Financial in the second quarter valued at approximately $25,000. Balance Wealth Partners LLC acquired a new stake in shares of Ameriprise Financial in the third quarter valued at approximately $27,000. Cassaday & Co Wealth Management LLC purchased a new position in Ameriprise Financial during the first quarter worth approximately $28,000. University of Texas Texas AM Investment Management Co. purchased a new position in Ameriprise Financial during the second quarter worth approximately $28,000. Finally, Fiduciary Financial Advisors purchased a new position in Ameriprise Financial during the second quarter worth approximately $30,000. 83.95% of the stock is currently owned by institutional investors and hedge funds.

Ameriprise Financial Company Profile

Ameriprise Financial is a financial services company focused on helping individuals and institutions plan for and manage their finances. Its offerings include financial planning and investment advice, brokerage services, asset management, insurance and annuity products. The company traces its roots to Investors Syndicate, founded in Minneapolis in 1894. It became an independent public company in 2005 after separating from American Express, and remains headquartered in Minneapolis. Ameriprise serves clients primarily in the United States through its network of financial advisors.