Ameriprise Financial (NYSE:AMP) PT Raised to $480.00

Ameriprise Financial (NYSE:AMP) had its price target upped by Royal Bank of Canada from $470.00 to $480.00 in a report published on Wednesday, Benzinga reports. The firm currently has an outperform rating on the financial services provider’s stock.

Several other brokerages also recently commented on AMP. Keefe, Bruyette & Woods increased their target price on Ameriprise Financial from $420.00 to $460.00 and gave the company a market perform rating in a research note on Wednesday, April 10th. Morgan Stanley increased their target price on Ameriprise Financial from $400.00 to $437.00 and gave the company an equal weight rating in a research note on Tuesday, April 9th. Piper Sandler increased their target price on Ameriprise Financial from $360.00 to $392.00 and gave the company an underweight rating in a research note on Friday, April 5th. Evercore ISI increased their target price on Ameriprise Financial from $400.00 to $445.00 and gave the company an in-line rating in a research note on Thursday, April 11th. Finally, UBS Group increased their target price on Ameriprise Financial from $440.00 to $445.00 and gave the company a buy rating in a research note on Thursday, January 25th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, Ameriprise Financial has a consensus rating of Hold and a consensus price target of $449.57.

Ameriprise Financial Stock Performance

Ameriprise Financial stock opened at $409.81 on Wednesday. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 1.13. The company has a market capitalization of $41.06 billion, a P/E ratio of 13.95, a PEG ratio of 0.68 and a beta of 1.36. The stock’s 50 day moving average is $418.65 and its 200 day moving average is $380.77. Ameriprise Financial has a twelve month low of $279.85 and a twelve month high of $440.67.

Ameriprise Financial (NYSE:AMP) last posted its quarterly earnings results on Wednesday, April 24th. The financial services provider reported $8.39 earnings per share for the quarter, topping the consensus estimate of $8.10 by $0.29. Ameriprise Financial had a return on equity of 75.97% and a net margin of 19.42%. The company had revenue of $4.15 billion for the quarter, compared to the consensus estimate of $4.15 billion. During the same quarter in the prior year, the business posted $7.25 EPS. The firm’s quarterly revenue was up 10.8% compared to the same quarter last year. On average, equities research analysts predict that Ameriprise Financial will post 34.58 earnings per share for the current fiscal year.

Ameriprise Financial Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 17th. Investors of record on Monday, May 6th will be issued a $1.48 dividend. This is a boost from Ameriprise Financial’s previous quarterly dividend of $1.35. This represents a $5.92 dividend on an annualized basis and a yield of 1.44%. The ex-dividend date of this dividend is Friday, May 3rd. Ameriprise Financial’s dividend payout ratio (DPR) is currently 20.15%.

Insider Buying and Selling at Ameriprise Financial

In other Ameriprise Financial news, CEO William F. Truscott sold 8,000 shares of the firm’s stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $412.05, for a total transaction of $3,296,400.00. Following the sale, the chief executive officer now directly owns 13,134 shares of the company’s stock, valued at $5,411,864.70. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Ameriprise Financial news, insider Gumer Alvero sold 1,652 shares of the firm’s stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $437.00, for a total transaction of $721,924.00. Following the sale, the insider now directly owns 6,994 shares of the company’s stock, valued at $3,056,378. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO William F. Truscott sold 8,000 shares of the firm’s stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $412.05, for a total value of $3,296,400.00. Following the sale, the chief executive officer now directly owns 13,134 shares in the company, valued at $5,411,864.70. The disclosure for this sale can be found here. Insiders have sold a total of 79,472 shares of company stock valued at $31,779,805 over the last ninety days. 0.73% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Aua Capital Management LLC lifted its stake in Ameriprise Financial by 4.7% in the first quarter. Aua Capital Management LLC now owns 604 shares of the financial services provider’s stock worth $265,000 after purchasing an additional 27 shares during the last quarter. Signaturefd LLC raised its stake in shares of Ameriprise Financial by 1.4% during the third quarter. Signaturefd LLC now owns 2,238 shares of the financial services provider’s stock valued at $738,000 after acquiring an additional 31 shares in the last quarter. Meeder Advisory Services Inc. raised its stake in shares of Ameriprise Financial by 1.1% during the fourth quarter. Meeder Advisory Services Inc. now owns 2,969 shares of the financial services provider’s stock valued at $1,128,000 after acquiring an additional 31 shares in the last quarter. First Bank & Trust raised its stake in shares of Ameriprise Financial by 3.4% during the first quarter. First Bank & Trust now owns 934 shares of the financial services provider’s stock valued at $410,000 after acquiring an additional 31 shares in the last quarter. Finally, Fidelis Capital Partners LLC raised its stake in shares of Ameriprise Financial by 5.1% during the fourth quarter. Fidelis Capital Partners LLC now owns 656 shares of the financial services provider’s stock valued at $249,000 after acquiring an additional 32 shares in the last quarter. Hedge funds and other institutional investors own 83.95% of the company’s stock.

Ameriprise Financial Company Profile

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.