Analysts Set Ameriprise Financial, Inc. (NYSE:AMP) PT at $487.67

Shares of Ameriprise Financial, Inc. (NYSE:AMP) have been assigned a consensus rating of “Hold” from the ten analysts that are currently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, five have given a hold recommendation and four have issued a buy recommendation on the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $487.67.

AMP has been the subject of a number of analyst reports. UBS Group upped their price target on Ameriprise Financial from $490.00 to $555.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. 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 lifted their price target on shares of Ameriprise Financial from $475.00 to $510.00 and gave the stock a “market perform” rating in a research note on Tuesday, October 29th. Morgan Stanley upped their price objective on shares of Ameriprise Financial from $440.00 to $502.00 and gave the company an “equal weight” rating in a research report on Thursday, October 17th. Finally, Royal Bank of Canada lifted their target price on Ameriprise Financial from $535.00 to $550.00 and gave the stock an “outperform” rating in a research report on Friday, October 25th.

Ameriprise Financial Price Performance

Shares of NYSE AMP opened at $562.33 on Wednesday. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.65 and a quick ratio of 0.65. Ameriprise Financial has a 1-year low of $343.98 and a 1-year high of $569.47. The company has a market capitalization of $54.55 billion, a price-to-earnings ratio of 21.59, a PEG ratio of 0.98 and a beta of 1.34. The business has a 50-day moving average of $501.69 and a 200-day moving average of $455.28.

Ameriprise Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Monday, November 4th were issued a dividend of $1.48 per share. This represents a $5.92 dividend on an annualized basis and a yield of 1.05%. The ex-dividend date was Monday, November 4th. Ameriprise Financial’s dividend payout ratio is presently 22.73%.

Insider Activity at Ameriprise Financial

In other Ameriprise Financial news, VP William Davies sold 8,700 shares of the business’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $442.07, for a total transaction of $3,846,009.00. Following the completion of the sale, the vice president now owns 13,199 shares in the company, valued at $5,834,881.93. The trade was a 39.73 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Gumer Alvero sold 2,325 shares of the firm’s stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $516.05, for a total transaction of $1,199,816.25. Following the completion of the transaction, the insider now owns 4,669 shares in the company, valued at approximately $2,409,437.45. The trade was a 33.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 30,415 shares of company stock valued at $15,829,445. Corporate insiders own 0.96% of the company’s stock.

Hedge Funds Weigh In On Ameriprise Financial

Institutional investors have recently made changes to their positions in the stock. State Board of Administration of Florida Retirement System boosted its position in Ameriprise Financial by 7.9% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 118,211 shares of the financial services provider’s stock valued at $51,828,000 after purchasing an additional 8,693 shares during the period. BDF Gestion acquired a new position in shares of Ameriprise Financial during the second quarter valued at $2,836,000. Susquehanna Fundamental Investments LLC bought a new position in shares of Ameriprise Financial during the first quarter worth about $570,000. Capital World Investors increased its holdings in shares of Ameriprise Financial by 95.0% in the 1st quarter. Capital World Investors now owns 67,606 shares of the financial services provider’s stock worth $29,641,000 after acquiring an additional 32,930 shares during the period. Finally, Cetera Investment Advisers lifted its position in Ameriprise Financial by 335.6% in the 1st quarter. Cetera Investment Advisers now owns 34,321 shares of the financial services provider’s stock valued at $15,048,000 after purchasing an additional 26,442 shares during the last quarter. 83.95% of the stock is owned by institutional investors.

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.