Ameriprise Financial (NYSE:AMP – Free Report) had its price target hoisted by UBS Group from $490.00 to $555.00 in a report released on Tuesday morning, Benzinga reports. UBS Group currently has a buy rating on the financial services provider’s stock.
Several other equities analysts have also commented on the company. Morgan Stanley reduced their price target on Ameriprise Financial from $444.00 to $440.00 and set an equal weight rating on the stock in a research report on Monday, July 29th. Jefferies Financial Group boosted their target price on shares of Ameriprise Financial from $500.00 to $504.00 and gave the stock a buy rating in a research report on Friday, June 28th. The Goldman Sachs Group downgraded shares of Ameriprise Financial from a buy rating to a neutral rating and decreased their target price for the company from $485.00 to $476.00 in a research note on Thursday, September 26th. Keefe, Bruyette & Woods dropped their price target on shares of Ameriprise Financial from $470.00 to $460.00 and set a market perform rating on the stock in a research note on Tuesday, July 30th. Finally, Piper Sandler cut their price objective on shares of Ameriprise Financial from $390.00 to $387.00 and set an underweight rating on the stock in a report on Friday, June 28th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of Hold and a consensus price target of $469.67.
Get Our Latest Analysis on Ameriprise Financial
Ameriprise Financial Stock Down 0.4 %
Ameriprise Financial (NYSE:AMP – Get Free Report) last released its quarterly earnings data on Wednesday, July 24th. The financial services provider reported $8.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $8.53 by $0.19. Ameriprise Financial had a net margin of 18.64% and a return on equity of 73.83%. The company had revenue of $4.39 billion during the quarter, compared to the consensus estimate of $4.24 billion. During the same period in the previous year, the firm earned $7.44 earnings per share. Ameriprise Financial’s revenue for the quarter was up 9.6% on a year-over-year basis. Equities analysts forecast that Ameriprise Financial will post 34.81 earnings per share for the current year.
Ameriprise Financial Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, August 16th. Investors of record on Monday, August 5th were given a dividend of $1.48 per share. This represents a $5.92 annualized dividend and a dividend yield of 1.20%. The ex-dividend date of this dividend was Monday, August 5th. Ameriprise Financial’s dividend payout ratio is currently 20.15%.
Insider Buying and Selling
In other Ameriprise Financial news, VP William Davies sold 8,700 shares of Ameriprise Financial stock in a transaction on Friday, August 30th. The shares were sold at an average price of $442.07, for a total value of $3,846,009.00. Following the completion of the transaction, the vice president now owns 13,199 shares of the company’s stock, valued at $5,834,881.93. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. 0.73% of the stock is currently owned by company insiders.
Institutional Trading of Ameriprise Financial
Several hedge funds have recently made changes to their positions in AMP. JPMorgan Chase & Co. increased its position in Ameriprise Financial by 18.6% in the first quarter. JPMorgan Chase & Co. now owns 3,844,165 shares of the financial services provider’s stock worth $1,685,436,000 after buying an additional 603,267 shares during the period. Swedbank AB bought a new position in Ameriprise Financial in the 1st quarter worth about $108,938,000. Maj Invest Holding A S acquired a new stake in shares of Ameriprise Financial in the third quarter valued at approximately $98,742,000. AGF Management Ltd. raised its holdings in shares of Ameriprise Financial by 35.4% during the second quarter. AGF Management Ltd. now owns 504,657 shares of the financial services provider’s stock valued at $215,584,000 after buying an additional 131,844 shares during the last quarter. Finally, Gillson Capital LP acquired a new position in shares of Ameriprise Financial during the fourth quarter worth approximately $47,511,000. 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.
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