Ameriprise Financial (NYSE:AMP) PT Lowered to $495.00 at UBS Group

Ameriprise Financial (NYSE:AMP) had its target price decreased by UBS Group from $500.00 to $495.00 in a report published on Tuesday morning, Benzinga reports. UBS Group currently has a buy rating on the financial services provider’s stock.

Several other research firms also recently commented on AMP. Raymond James initiated coverage on Ameriprise Financial in a report on Thursday, March 21st. They issued a market perform rating for the company. The Goldman Sachs Group increased their price objective on shares of Ameriprise Financial from $437.00 to $488.00 and gave the company a buy rating in a research report on Wednesday, March 27th. Morgan Stanley boosted their target price on shares of Ameriprise Financial from $400.00 to $437.00 and gave the company an equal weight rating in a research note on Tuesday, April 9th. Argus raised their price target on Ameriprise Financial from $440.00 to $460.00 and gave the stock a buy rating in a research note on Monday, May 6th. Finally, Keefe, Bruyette & Woods upped their price objective on Ameriprise Financial from $460.00 to $470.00 and gave the company a market perform rating in a research report on Monday. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of Hold and a consensus price target of $462.89.

Ameriprise Financial Stock Down 0.2 %

NYSE:AMP opened at $439.83 on Tuesday. The firm has a 50-day simple moving average of $432.29 and a two-hundred day simple moving average of $413.93. The firm has a market cap of $43.68 billion, a P/E ratio of 14.97, a P/E/G ratio of 0.73 and a beta of 1.37. Ameriprise Financial has a fifty-two week low of $306.63 and a fifty-two week high of $446.32. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.56 and a current ratio of 0.56.

Ameriprise Financial (NYSE:AMP) last announced its quarterly earnings data on Wednesday, April 24th. The financial services provider reported $8.39 earnings per share for the quarter, topping analysts’ consensus estimates of $8.10 by $0.29. Ameriprise Financial had a net margin of 19.42% and a return on equity of 75.97%. The company had revenue of $4.15 billion during the quarter, compared to analyst estimates of $4.15 billion. During the same period in the previous year, the business earned $7.25 EPS. The firm’s revenue for the quarter was up 10.8% on a year-over-year basis. Analysts predict that Ameriprise Financial will post 34.92 earnings per share for the current fiscal year.

Ameriprise Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 17th. Stockholders of record on Monday, May 6th were paid a $1.48 dividend. The ex-dividend date of this dividend was Friday, May 3rd. This represents a $5.92 annualized dividend and a dividend yield of 1.35%. This is an increase from Ameriprise Financial’s previous quarterly dividend of $1.35. Ameriprise Financial’s dividend payout ratio (DPR) is 20.15%.

Insider Activity

In related news, Director Robert Francis Sharpe, Jr. sold 1,500 shares of the stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $438.07, for a total value of $657,105.00. Following the completion of the sale, the director now directly owns 11,000 shares of the company’s stock, valued at approximately $4,818,770. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.96% of the company’s stock.

Institutional Investors Weigh In On Ameriprise Financial

A number of institutional investors have recently bought and sold shares of AMP. Norges Bank bought a new position in shares of Ameriprise Financial in the fourth quarter worth about $514,539,000. JPMorgan Chase & Co. boosted its stake in Ameriprise Financial by 18.6% in the 1st quarter. JPMorgan Chase & Co. now owns 3,844,165 shares of the financial services provider’s stock worth $1,685,436,000 after purchasing an additional 603,267 shares during the period. First Trust Advisors LP grew its holdings in Ameriprise Financial by 1,001.2% during the 4th quarter. First Trust Advisors LP now owns 564,110 shares of the financial services provider’s stock valued at $214,266,000 after buying an additional 512,884 shares in the last quarter. TD Asset Management Inc lifted its holdings in shares of Ameriprise Financial by 151.5% in the fourth quarter. TD Asset Management Inc now owns 595,644 shares of the financial services provider’s stock worth $226,243,000 after buying an additional 358,780 shares in the last quarter. Finally, Swedbank AB bought a new position in shares of Ameriprise Financial during the first quarter worth $108,938,000. Hedge funds and other 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.