StockNews.com Lowers Ameriprise Financial (NYSE:AMP) to Sell

StockNews.com lowered shares of Ameriprise Financial (NYSE:AMPGet Rating) from a hold rating to a sell rating in a research report released on Tuesday.

Several other brokerages have also issued reports on AMP. Credit Suisse Group boosted their price target on Ameriprise Financial to $351.00 in a research note on Tuesday, November 1st. Royal Bank of Canada boosted their price target on Ameriprise Financial from $310.00 to $350.00 and gave the company an outperform rating in a research note on Friday, October 28th. Bank of America initiated coverage on Ameriprise Financial in a research note on Wednesday, September 7th. They set a buy rating and a $336.00 price target on the stock. Piper Sandler boosted their price target on Ameriprise Financial from $240.00 to $250.00 and gave the company an underweight rating in a research note on Friday, October 7th. Finally, Morgan Stanley boosted their price target on Ameriprise Financial from $310.00 to $340.00 and gave the company an equal weight rating in a research note on Thursday, November 17th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, Ameriprise Financial currently has an average rating of Hold and an average target price of $330.78.

Ameriprise Financial Trading Up 0.7 %

Ameriprise Financial stock opened at $332.60 on Tuesday. The company has a debt-to-equity ratio of 1.60, a quick ratio of 0.79 and a current ratio of 0.79. The business’s 50-day simple moving average is $288.33 and its 200-day simple moving average is $270.04. The firm has a market capitalization of $35.40 billion, a PE ratio of 13.87, a PEG ratio of 0.78 and a beta of 1.47. Ameriprise Financial has a 52 week low of $219.99 and a 52 week high of $339.41.

Ameriprise Financial (NYSE:AMPGet Rating) last posted its quarterly earnings data on Wednesday, October 26th. The financial services provider reported $6.43 EPS for the quarter, topping analysts’ consensus estimates of $5.85 by $0.58. Ameriprise Financial had a return on equity of 61.53% and a net margin of 19.17%. The business had revenue of $3.49 billion for the quarter, compared to analyst estimates of $3.32 billion. During the same period in the previous year, the company posted $5.91 earnings per share. The firm’s revenue for the quarter was up 20.3% on a year-over-year basis. Equities research analysts forecast that Ameriprise Financial will post 24.38 earnings per share for the current year.

Ameriprise Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 18th. Stockholders of record on Monday, November 7th were issued a $1.25 dividend. This represents a $5.00 annualized dividend and a dividend yield of 1.50%. The ex-dividend date of this dividend was Friday, November 4th. Ameriprise Financial’s payout ratio is currently 20.85%.

Insider Transactions at Ameriprise Financial

In other news, EVP Gerard P. Smyth sold 4,129 shares of the business’s stock in a transaction that occurred on Tuesday, November 15th. The stock was sold at an average price of $324.66, for a total value of $1,340,521.14. Following the transaction, the executive vice president now directly owns 5,272 shares of the company’s stock, valued at approximately $1,711,607.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, EVP Gerard P. Smyth sold 4,129 shares of the business’s stock in a transaction that occurred on Tuesday, November 15th. The stock was sold at an average price of $324.66, for a total value of $1,340,521.14. Following the transaction, the executive vice president now directly owns 5,272 shares of the company’s stock, valued at approximately $1,711,607.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Walter Stanley Berman sold 11,983 shares of the business’s stock in a transaction that occurred on Tuesday, November 15th. The stock was sold at an average price of $327.81, for a total transaction of $3,928,147.23. Following the completion of the transaction, the chief financial officer now owns 10,751 shares of the company’s stock, valued at approximately $3,524,285.31. The disclosure for this sale can be found here. 1.00% of the stock is owned by company insiders.

Institutional Trading of Ameriprise Financial

Large investors have recently made changes to their positions in the company. DekaBank Deutsche Girozentrale increased its position in shares of Ameriprise Financial by 2.7% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 45,636 shares of the financial services provider’s stock valued at $10,828,000 after buying an additional 1,204 shares in the last quarter. D.A. Davidson & CO. increased its position in shares of Ameriprise Financial by 7.5% in the 1st quarter. D.A. Davidson & CO. now owns 2,178 shares of the financial services provider’s stock valued at $654,000 after buying an additional 152 shares in the last quarter. Boston Financial Mangement LLC bought a new stake in shares of Ameriprise Financial in the 1st quarter valued at $508,000. Checchi Capital Advisers LLC increased its position in shares of Ameriprise Financial by 11.5% in the 1st quarter. Checchi Capital Advisers LLC now owns 1,275 shares of the financial services provider’s stock valued at $383,000 after buying an additional 131 shares in the last quarter. Finally, CIBC Asset Management Inc increased its position in shares of Ameriprise Financial by 0.8% in the 1st quarter. CIBC Asset Management Inc now owns 10,937 shares of the financial services provider’s stock valued at $3,285,000 after buying an additional 82 shares in the last quarter. Institutional investors own 82.92% of the company’s stock.

About Ameriprise Financial

(Get Rating)

Ameriprise Financial, Inc, through 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.

Further Reading

Analyst Recommendations for Ameriprise Financial (NYSE:AMP)

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