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

Ameriprise Financial, Inc. (NYSE:AMP) has received a consensus recommendation of “Hold” from the eleven analysts that are currently covering the company, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation, four have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price target among analysts that have covered the stock in the last year is $555.6667.

AMP has been the topic of a number of recent analyst reports. Argus reduced their target price on Ameriprise Financial from $568.00 to $554.00 and set a “buy” rating on the stock in a report on Thursday, November 13th. Jefferies Financial Group upped their price target on Ameriprise Financial from $600.00 to $620.00 and gave the company a “buy” rating in a research note on Monday, February 2nd. Royal Bank Of Canada reiterated an “outperform” rating and issued a $605.00 price target (up from $580.00) on shares of Ameriprise Financial in a research report on Monday, February 2nd. Morgan Stanley lifted their price objective on shares of Ameriprise Financial from $484.00 to $485.00 and gave the stock an “underweight” rating in a research note on Monday, December 22nd. Finally, BMO Capital Markets restated a “market perform” rating on shares of Ameriprise Financial in a report on Tuesday, March 3rd.

Ameriprise Financial Stock Performance

Shares of NYSE:AMP opened at $460.51 on Tuesday. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 0.86. Ameriprise Financial has a 1-year low of $396.14 and a 1-year high of $550.18. The stock has a market capitalization of $41.99 billion, a P/E ratio of 12.67, a P/E/G ratio of 1.08 and a beta of 1.27. The business has a 50-day moving average price of $495.22 and a two-hundred day moving average price of $486.65.

Ameriprise Financial (NYSE:AMP) last issued its earnings results on Thursday, January 29th. The financial services provider reported $10.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $10.33 by $0.50. Ameriprise Financial had a net margin of 19.28% and a return on equity of 63.04%. The company had revenue of $4.92 billion for the quarter, compared to analyst estimates of $4.75 billion. During the same quarter last year, the firm earned $9.54 EPS. The company’s revenue for the quarter was up 10.2% on a year-over-year basis. Equities analysts predict that Ameriprise Financial will post 38.64 earnings per share for the current year.

Ameriprise Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 27th. Stockholders of record on Monday, February 9th were given a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend was Monday, February 9th. Ameriprise Financial’s dividend payout ratio (DPR) is currently 17.60%.

Insider Activity

In related news, CEO William F. Truscott sold 5,000 shares of the firm’s stock in a transaction on Tuesday, February 10th. The stock was sold at an average price of $532.08, for a total transaction of $2,660,400.00. Following the sale, the chief executive officer owned 12,149 shares of the company’s stock, valued at approximately $6,464,239.92. This trade represents a 29.16% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Walter Stanley Berman sold 7,000 shares of Ameriprise Financial stock in a transaction dated Thursday, February 5th. The stock was sold at an average price of $544.22, for a total value of $3,809,540.00. Following the transaction, the chief financial officer owned 5,609 shares in the company, valued at approximately $3,052,529.98. This represents a 55.52% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 16,658 shares of company stock valued at $8,998,675 in the last quarter. Company insiders own 0.57% of the company’s stock.

Institutional Investors Weigh In On Ameriprise Financial

Several large investors have recently modified their holdings of AMP. SouthState Bank Corp lifted its holdings in shares of Ameriprise Financial by 78.6% during the 4th quarter. SouthState Bank Corp now owns 50 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 22 shares in the last quarter. Holos Integrated Wealth LLC bought a new stake in Ameriprise Financial during the 4th quarter worth approximately $30,000. Winnow Wealth LLC acquired a new stake in Ameriprise Financial during the 2nd quarter worth approximately $32,000. Heartwood Wealth Advisors LLC acquired a new stake in Ameriprise Financial during the 3rd quarter worth approximately $32,000. Finally, Redmont Wealth Advisors LLC bought a new position in Ameriprise Financial in the third quarter valued at approximately $32,000. 83.95% of the stock is currently owned by institutional investors.

Ameriprise Financial Company Profile

Ameriprise Financial, Inc is a diversified financial services company headquartered in Minneapolis, Minnesota. The firm provides a range of advice-based wealth management, asset management and insurance products to individual and institutional clients. Its business model centers on delivering financial planning and investment advice through a network of financial advisors alongside proprietary product offerings designed to meet retirement, protection and accumulation needs.

Core products and services include comprehensive financial planning and advisory services, managed investment portfolios, retirement planning solutions, annuities and life insurance products.