Ameriprise Financial, Inc. (NYSE:AMP) Receives $543.22 Consensus Target Price from Analysts

Ameriprise Financial, Inc. (NYSE:AMP) has earned a consensus recommendation of “Hold” from the eleven ratings firms that are presently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, six have given a hold recommendation, three have given a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $548.4444.

A number of brokerages have recently commented on AMP. BMO Capital Markets boosted their price objective on Ameriprise Financial from $470.00 to $490.00 and gave the stock a “market perform” rating in a research report on Friday, April 24th. Jefferies Financial Group lifted their price target on shares of Ameriprise Financial from $636.00 to $645.00 and gave the stock a “buy” rating in a research note on Friday. Morgan Stanley boosted their price target on shares of Ameriprise Financial from $467.00 to $489.00 and gave the stock an “underweight” rating in a report on Friday. Weiss Ratings lowered shares of Ameriprise Financial from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, July 2nd. Finally, Piper Sandler lifted their price objective on shares of Ameriprise Financial from $460.00 to $471.00 and gave the stock a “neutral” rating in a research report on Monday, May 4th.

Insider Transactions at Ameriprise Financial

In related news, Director Robert Francis Sharpe, Jr. sold 1,200 shares of the company’s stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $465.83, for a total value of $558,996.00. Following the completion of the transaction, the director directly owned 6,300 shares of the company’s stock, valued at $2,934,729. This represents a 16.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Gerard P. Smyth sold 6,255 shares of the company’s stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $472.52, for a total value of $2,955,612.60. Following the completion of the transaction, the executive vice president directly owned 6,103 shares of the company’s stock, valued at $2,883,789.56. This trade represents a 50.61% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.60% of the company’s stock.

Institutional Trading of Ameriprise Financial

Several institutional investors have recently modified their holdings of AMP. Wedge Capital Management L L P NC grew its position in shares of Ameriprise Financial by 14.4% in the 2nd quarter. Wedge Capital Management L L P NC now owns 73,833 shares of the financial services provider’s stock valued at $33,872,000 after buying an additional 9,307 shares during the last quarter. Accel Wealth Management lifted its position in Ameriprise Financial by 8.8% in the second quarter. Accel Wealth Management now owns 1,574 shares of the financial services provider’s stock valued at $722,000 after acquiring an additional 127 shares during the last quarter. Tema ETFs LLC lifted its position in Ameriprise Financial by 9.8% in the second quarter. Tema ETFs LLC now owns 1,623 shares of the financial services provider’s stock valued at $745,000 after acquiring an additional 145 shares during the last quarter. Fiduciary Financial Group LLC acquired a new position in Ameriprise Financial in the second quarter valued at $232,000. Finally, Generali Investments Management Co LLC boosted its stake in Ameriprise Financial by 134.8% in the second quarter. Generali Investments Management Co LLC now owns 425 shares of the financial services provider’s stock valued at $195,000 after acquiring an additional 244 shares in the last quarter. Hedge funds and other institutional investors own 83.95% of the company’s stock.

Ameriprise Financial Stock Performance

NYSE:AMP opened at $507.69 on Monday. Ameriprise Financial has a 52 week low of $422.37 and a 52 week high of $550.18. The company has a fifty day simple moving average of $464.92 and a two-hundred day simple moving average of $472.81. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 0.90. The company has a market cap of $45.64 billion, a price-to-earnings ratio of 12.63, a price-to-earnings-growth ratio of 0.91 and a beta of 1.16.

Ameriprise Financial (NYSE:AMP) last released its earnings results on Thursday, April 23rd. The financial services provider reported $11.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $10.21 by $1.05. Ameriprise Financial had a return on equity of 62.88% and a net margin of 20.57%.The firm had revenue of $4.77 billion during the quarter, compared to analyst estimates of $4.82 billion. During the same period last year, the business posted $9.50 earnings per share. Ameriprise Financial’s revenue was up 9.7% compared to the same quarter last year. As a group, equities analysts anticipate that Ameriprise Financial will post 43.5 earnings per share for the current fiscal year.

Ameriprise Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 22nd. Stockholders of record on Monday, May 4th were given a dividend of $1.70 per share. The ex-dividend date of this dividend was Monday, May 4th. This represents a $6.80 annualized dividend and a dividend yield of 1.3%. This is an increase from Ameriprise Financial’s previous quarterly dividend of $1.60. Ameriprise Financial’s payout ratio is currently 16.91%.

About Ameriprise Financial

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.