Ameriprise Financial, Inc. (NYSE:AMP) Receives $480.44 Average PT from Analysts

Shares of Ameriprise Financial, Inc. (NYSE:AMP) have been assigned a consensus rating of “Moderate Buy” from the ten brokerages that are covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation, four have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $482.11.

AMP has been the subject of several recent research reports. UBS Group boosted their price target on Ameriprise Financial from $490.00 to $555.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. Keefe, Bruyette & Woods upgraded Ameriprise Financial from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 10th. Morgan Stanley increased their price objective on shares of Ameriprise Financial from $440.00 to $502.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 17th. Royal Bank of Canada lifted their target price on Ameriprise Financial from $535.00 to $550.00 and gave the company an “outperform” rating in a research note on Friday. Finally, The Goldman Sachs Group downgraded shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $485.00 to $476.00 in a report on Thursday, September 26th.

Insider Activity at Ameriprise Financial

In other Ameriprise Financial news, VP William Davies sold 8,700 shares of the company’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $442.07, for a total transaction of $3,846,009.00. Following the sale, the vice president now directly owns 13,199 shares in the company, valued at $5,834,881.93. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. 0.73% of the stock is owned by insiders.

Hedge Funds Weigh In On Ameriprise Financial

Several large investors have recently modified their holdings of the stock. Ledyard National Bank boosted its stake in Ameriprise Financial by 3.2% during the third quarter. Ledyard National Bank now owns 733 shares of the financial services provider’s stock worth $344,000 after buying an additional 23 shares during the period. Heartland Bank & Trust Co boosted its stake in shares of Ameriprise Financial by 0.9% during the 2nd quarter. Heartland Bank & Trust Co now owns 2,755 shares of the financial services provider’s stock worth $1,177,000 after purchasing an additional 24 shares during the period. Portside Wealth Group LLC grew its holdings in Ameriprise Financial by 3.7% during the 2nd quarter. Portside Wealth Group LLC now owns 697 shares of the financial services provider’s stock valued at $298,000 after purchasing an additional 25 shares during the last quarter. Signaturefd LLC raised its position in Ameriprise Financial by 1.1% in the 1st quarter. Signaturefd LLC now owns 2,296 shares of the financial services provider’s stock worth $1,007,000 after purchasing an additional 26 shares during the period. Finally, Coldstream Capital Management Inc. lifted its stake in Ameriprise Financial by 0.7% in the second quarter. Coldstream Capital Management Inc. now owns 3,760 shares of the financial services provider’s stock worth $1,606,000 after purchasing an additional 26 shares during the last quarter. Institutional investors own 83.95% of the company’s stock.

Ameriprise Financial Stock Performance

Shares of NYSE AMP opened at $504.39 on Friday. Ameriprise Financial has a 12-month low of $307.57 and a 12-month high of $524.89. The firm has a market capitalization of $50.10 billion, a price-to-earnings ratio of 17.17, a price-to-earnings-growth ratio of 0.81 and a beta of 1.35. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 1.16. The firm has a 50 day moving average of $465.77 and a 200 day moving average of $439.51.

Ameriprise Financial (NYSE:AMP) last issued its quarterly earnings data on Wednesday, July 24th. The financial services provider reported $8.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $8.53 by $0.19. Ameriprise Financial had a net margin of 18.64% and a return on equity of 73.83%. The firm had revenue of $4.39 billion during the quarter, compared to the consensus estimate of $4.24 billion. During the same quarter in the previous year, the firm posted $7.44 EPS. The company’s revenue for the quarter was up 9.6% compared to the same quarter last year. On average, research analysts anticipate that Ameriprise Financial will post 34.92 earnings per share for the current year.

Ameriprise Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Monday, November 4th will be given a dividend of $1.48 per share. This represents a $5.92 annualized dividend and a dividend yield of 1.17%. The ex-dividend date is Monday, November 4th. Ameriprise Financial’s dividend payout ratio is 20.15%.

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.