Ameriprise Financial, Inc. (NYSE:AMP) Receives Average Rating of “Hold” from Brokerages

Ameriprise Financial, Inc. (NYSE:AMP) has been given an average rating of “Hold” by the eight ratings firms that are presently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, four have given a hold recommendation and three have assigned a buy recommendation to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $449.57.

AMP has been the topic of several recent analyst reports. Keefe, Bruyette & Woods lifted their target price on Ameriprise Financial from $420.00 to $460.00 and gave the stock a “market perform” rating in a report on Wednesday, April 10th. Morgan Stanley lifted their target price on Ameriprise Financial from $400.00 to $437.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 9th. Piper Sandler boosted their price target on Ameriprise Financial from $360.00 to $392.00 and gave the stock an “underweight” rating in a research report on Friday, April 5th. Raymond James began coverage on Ameriprise Financial in a research report on Thursday, March 21st. They set a “market perform” rating on the stock. Finally, The Goldman Sachs Group boosted their price target on Ameriprise Financial from $437.00 to $488.00 and gave the stock a “buy” rating in a research report on Wednesday, March 27th.

Ameriprise Financial Stock Up 0.4 %

NYSE:AMP opened at $413.46 on Friday. The stock’s fifty day simple moving average is $419.68 and its 200-day simple moving average is $382.97. 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 firm has a market capitalization of $41.42 billion, a P/E ratio of 14.07, a P/E/G ratio of 0.71 and a beta of 1.36. Ameriprise Financial has a 12-month low of $279.85 and a 12-month high of $440.67.

Ameriprise Financial (NYSE:AMP) last posted its 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. The firm had revenue of $4.15 billion for the quarter, compared to analyst estimates of $4.15 billion. Ameriprise Financial had a return on equity of 75.97% and a net margin of 19.42%. The company’s revenue for the quarter was up 10.8% on a year-over-year basis. During the same period in the previous year, the company posted $7.25 earnings per share. Equities research analysts expect that Ameriprise Financial will post 34.74 earnings per share for the current year.

Ameriprise Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 17th. Stockholders of record on Monday, May 6th will be issued a dividend of $1.48 per share. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.43%. The ex-dividend date of this dividend is Friday, May 3rd. This is a boost from Ameriprise Financial’s previous quarterly dividend of $1.35. Ameriprise Financial’s payout ratio is currently 20.15%.

Insider Activity at Ameriprise Financial

In related news, SVP Dawn M. Brockman sold 224 shares of the business’s stock in a transaction that occurred on Tuesday, March 26th. The stock was sold at an average price of $434.13, for a total value of $97,245.12. Following the completion of the sale, the senior vice president now directly owns 1,288 shares in the company, valued at $559,159.44. The sale was disclosed in a filing with the SEC, which is available at this link. In related news, SVP Dawn M. Brockman sold 224 shares of the business’s stock in a transaction that occurred on Tuesday, March 26th. The stock was sold at an average price of $434.13, for a total value of $97,245.12. Following the completion of the sale, the senior vice president now directly owns 1,288 shares in the company, valued at $559,159.44. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Gerard P. Smyth sold 4,440 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $407.92, for a total value of $1,811,164.80. Following the completion of the sale, the executive vice president now owns 3,787 shares of the company’s stock, valued at $1,544,793.04. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 74,326 shares of company stock worth $29,775,593. Company insiders own 0.73% of the company’s stock.

Institutional Investors Weigh In On Ameriprise Financial

Several institutional investors and hedge funds have recently added to or reduced their stakes in AMP. OFI Invest Asset Management bought a new stake in Ameriprise Financial during the third quarter worth $25,000. Retirement Group LLC bought a new stake in Ameriprise Financial during the first quarter worth $25,000. Redmont Wealth Advisors LLC bought a new stake in Ameriprise Financial during the first quarter worth $28,000. Carmel Capital Partners LLC acquired a new position in shares of Ameriprise Financial during the third quarter worth $30,000. Finally, Sound Income Strategies LLC acquired a new position in shares of Ameriprise Financial during the first quarter worth $32,000. 83.95% of the stock is currently 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.