Ameriprise Financial, Inc. (NYSE:AMP) Receives $534.71 Consensus Price Target from Brokerages

Ameriprise Financial, Inc. (NYSE:AMP) has received an average recommendation of “Hold” from the eight research firms that are currently covering the firm, Marketbeat.com reports. Two analysts have rated the stock with a sell recommendation, four have assigned a hold recommendation, one has assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $534.7143.

A number of research firms have commented on AMP. Keefe, Bruyette & Woods raised their target price on shares of Ameriprise Financial from $520.00 to $550.00 and gave the company a “market perform” rating in a research report on Wednesday, July 9th. William Blair downgraded shares of Ameriprise Financial from an “outperform” rating to a “market perform” rating in a research report on Friday, July 25th. Piper Sandler raised their target price on shares of Ameriprise Financial from $423.00 to $434.00 and gave the company an “underweight” rating in a research report on Thursday, July 3rd. Royal Bank Of Canada raised their target price on shares of Ameriprise Financial from $595.00 to $601.00 and gave the company an “outperform” rating in a research report on Wednesday, July 30th. Finally, Wall Street Zen raised shares of Ameriprise Financial from a “sell” rating to a “hold” rating in a research report on Friday, May 30th.

Ameriprise Financial Trading Down 2.0%

AMP stock opened at $486.99 on Tuesday. The company has a market capitalization of $45.91 billion, a PE ratio of 15.15, a P/E/G ratio of 1.06 and a beta of 1.27. Ameriprise Financial has a 12 month low of $396.14 and a 12 month high of $582.05. The firm’s 50-day moving average is $514.75 and its 200 day moving average is $502.38. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.62 and a quick ratio of 0.62.

Ameriprise Financial (NYSE:AMP) last posted its earnings results on Thursday, July 24th. The financial services provider reported $9.11 EPS for the quarter, beating analysts’ consensus estimates of $9.00 by $0.11. The business had revenue of $4.49 billion for the quarter, compared to the consensus estimate of $4.33 billion. Ameriprise Financial had a net margin of 18.30% and a return on equity of 65.90%. The company’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same quarter last year, the firm posted $8.72 EPS. On average, research analysts anticipate that Ameriprise Financial will post 38.64 EPS for the current year.

Ameriprise Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 18th. Stockholders of record on Monday, August 4th were given a $1.60 dividend. The ex-dividend date of this dividend was Monday, August 4th. This represents a $6.40 dividend on an annualized basis and a dividend yield of 1.3%. Ameriprise Financial’s payout ratio is presently 19.91%.

Insider Buying and Selling

In other news, CEO William F. Truscott sold 9,929 shares of Ameriprise Financial stock in a transaction that occurred on Tuesday, August 19th. The shares were sold at an average price of $506.89, for a total value of $5,032,910.81. Following the transaction, the chief executive officer owned 11,047 shares of the company’s stock, valued at $5,599,613.83. The trade was a 47.34% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Heather J. Melloh sold 1,500 shares of Ameriprise Financial stock in a transaction that occurred on Thursday, September 4th. The stock was sold at an average price of $512.34, for a total transaction of $768,510.00. Following the completion of the transaction, the executive vice president directly owned 2,562 shares in the company, valued at approximately $1,312,615.08. The trade was a 36.93% decrease in their position. The disclosure for this sale can be found here. 0.57% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the company. Valeo Financial Advisors LLC grew its position in shares of Ameriprise Financial by 76.6% in the 2nd quarter. Valeo Financial Advisors LLC now owns 2,063 shares of the financial services provider’s stock worth $1,101,000 after buying an additional 895 shares during the last quarter. Orion Porfolio Solutions LLC grew its position in shares of Ameriprise Financial by 6.1% in the 2nd quarter. Orion Porfolio Solutions LLC now owns 8,742 shares of the financial services provider’s stock worth $4,666,000 after buying an additional 499 shares during the last quarter. MASTERINVEST Kapitalanlage GmbH acquired a new stake in Ameriprise Financial in the 2nd quarter worth approximately $791,000. Hilltop Partners LLC boosted its stake in Ameriprise Financial by 2.1% in the 2nd quarter. Hilltop Partners LLC now owns 3,077 shares of the financial services provider’s stock worth $1,642,000 after purchasing an additional 63 shares in the last quarter. Finally, B. Riley Wealth Advisors Inc. acquired a new stake in Ameriprise Financial in the 2nd quarter worth approximately $884,000. 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.