Ameriprise Financial Services, Inc. (AMP) Receives $155.73 Average Target Price from Analysts
Shares of Ameriprise Financial Services, Inc. (NYSE:AMP) have received a consensus recommendation of “Buy” from the ten analysts that are presently covering the firm, Marketbeat.com reports. Four research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $155.73.
AMP has been the topic of several analyst reports. Zacks Investment Research upgraded Ameriprise Financial Services from a “hold” rating to a “buy” rating and set a $155.00 target price on the stock in a report on Friday, September 1st. Citigroup Inc. set a $166.00 target price on Ameriprise Financial Services and gave the stock a “buy” rating in a report on Wednesday, August 2nd. BidaskClub lowered Ameriprise Financial Services from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 19th. Barclays PLC reiterated an “equal weight” rating on shares of Ameriprise Financial Services in a report on Monday, October 2nd. Finally, Royal Bank Of Canada set a $149.00 target price on Ameriprise Financial Services and gave the stock a “hold” rating in a report on Wednesday, October 18th.
Ameriprise Financial Services (NYSE AMP) traded down $0.89 on Friday, reaching $159.76. The company had a trading volume of 529,300 shares, compared to its average volume of 1,035,020. Ameriprise Financial Services has a fifty-two week low of $109.19 and a fifty-two week high of $163.04. The company has a market capitalization of $23,764.95, a price-to-earnings ratio of 13.66 and a beta of 1.92. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.82.
Ameriprise Financial Services (NYSE:AMP) last released its earnings results on Tuesday, October 24th. The financial services provider reported $3.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.79 by $0.33. Ameriprise Financial Services had a return on equity of 29.75% and a net margin of 14.24%. The business had revenue of $3 billion for the quarter, compared to analyst estimates of $2.97 billion. During the same quarter in the prior year, the company posted $2.29 earnings per share. Ameriprise Financial Services’s revenue was up 6.3% on a year-over-year basis. equities research analysts anticipate that Ameriprise Financial Services will post 12.14 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, November 17th. Shareholders of record on Monday, November 6th were given a dividend of $0.83 per share. This represents a $3.32 dividend on an annualized basis and a yield of 2.08%. The ex-dividend date was Friday, November 3rd. Ameriprise Financial Services’s dividend payout ratio (DPR) is presently 30.97%.
In other news, EVP Colin Moore sold 4,285 shares of the company’s stock in a transaction that occurred on Thursday, October 26th. The stock was sold at an average price of $161.09, for a total value of $690,270.65. Following the transaction, the executive vice president now owns 73,690 shares of the company’s stock, valued at $11,870,722.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider John Robert Woerner sold 9,022 shares of the company’s stock in a transaction that occurred on Thursday, October 26th. The shares were sold at an average price of $160.91, for a total value of $1,451,730.02. Following the completion of the transaction, the insider now directly owns 43,167 shares in the company, valued at approximately $6,946,001.97. The disclosure for this sale can be found here. In the last three months, insiders have sold 59,717 shares of company stock worth $9,543,677. Company insiders own 1.50% of the company’s stock.
Several institutional investors have recently bought and sold shares of the company. Steward Partners Investment Advisory LLC acquired a new position in shares of Ameriprise Financial Services in the third quarter valued at approximately $2,484,000. Public Employees Retirement System of Ohio grew its position in shares of Ameriprise Financial Services by 21.7% in the third quarter. Public Employees Retirement System of Ohio now owns 82,563 shares of the financial services provider’s stock valued at $12,261,000 after purchasing an additional 14,710 shares during the last quarter. Cetera Advisors LLC acquired a new position in shares of Ameriprise Financial Services in the third quarter valued at approximately $373,000. IFM Investors Pty Ltd acquired a new position in shares of Ameriprise Financial Services in the third quarter valued at approximately $666,000. Finally, Independent Advisor Alliance acquired a new position in shares of Ameriprise Financial Services in the third quarter valued at approximately $232,000. 80.87% of the stock is currently owned by institutional investors.
Ameriprise Financial Services Company Profile
Ameriprise Financial, Inc is a financial services company that offers financial solutions to individual and institutional clients. The Company operates in five segments: Advice & Wealth Management; Asset Management; Annuities; Protection, and Corporate & Other. The Company uses Ameriprise Financial as its enterprise brand, as well as the name of its advisor network and certain of its retail products and services.
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