Ameriprise Financial, Inc. (NYSE:AMP) Stock Has Average Price Target of $557.00

Shares of Ameriprise Financial, Inc. (NYSE:AMP) have been given a consensus recommendation of “Hold” by the twelve research firms that are currently covering the company, Marketbeat.com reports. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating, four have issued a buy rating and one has issued a strong buy rating on the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $557.00.

Several analysts have issued reports on AMP shares. Raymond James Financial boosted their price objective on Ameriprise Financial from $582.00 to $638.00 and gave the stock a “strong-buy” rating in a report on Friday, August 21st. Morgan Stanley dropped their target price on shares of Ameriprise Financial from $489.00 to $483.00 and set an “underweight” rating on the stock in a research report on Friday, October 9th. Bank of America lowered shares of Ameriprise Financial from a “buy” rating to an “underperform” rating and cut their price target for the company from $570.00 to $445.00 in a report on Monday, October 19th. Jefferies Financial Group cut their price target on shares of Ameriprise Financial from $645.00 to $638.00 in a report on Monday, October 12th. Finally, Argus upped their price target on shares of Ameriprise Financial from $534.00 to $590.00 and gave the company a “buy” rating in a research report on Friday, July 31st.

Ameriprise Financial Trading Up 0.5%

Shares of Ameriprise Financial stock opened at $520.89 on Friday. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 1.13. The firm has a market cap of $45.22 billion, a price-to-earnings ratio of 11.46, a price-to-earnings-growth ratio of 1.10 and a beta of 1.13. The business has a fifty day simple moving average of $513.14 and a 200-day simple moving average of $493.30. Ameriprise Financial has a fifty-two week low of $422.37 and a fifty-two week high of $572.56.

Ameriprise Financial (NYSE:AMP) last released its earnings results on Thursday, October 29th. The financial services provider reported $11.26 EPS for the quarter, missing analysts’ consensus estimates of $11.77 by ($0.51). Ameriprise Financial had a return on equity of 69.94% and a net margin of 20.99%. The business had revenue of $5.08 billion during the quarter, compared to the consensus estimate of $5.10 billion. During the same quarter in the previous year, the firm earned $9.92 earnings per share. The firm’s revenue for the quarter was up 6.8% compared to the same quarter last year. On average, equities analysts forecast that Ameriprise Financial will post 46.43 EPS for the current fiscal year.

Ameriprise Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 27th. Shareholders of record on Monday, November 9th will be paid a dividend of $1.70 per share. This represents a $6.80 annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend is Monday, November 9th. Ameriprise Financial’s payout ratio is 15.30%.

Ameriprise Financial announced that its Board of Directors has initiated a stock repurchase plan on Tuesday, September 29th that permits the company to buy back $5.50 billion in shares. This buyback authorization permits the financial services provider to reacquire up to 12.3% of its stock through open market purchases. Share buyback plans are typically a sign that the company’s management believes its shares are undervalued.

Institutional Trading of Ameriprise Financial

Hedge funds and other institutional investors have recently modified their holdings of the business. Cantor Fitzgerald Investment Advisors L.P. purchased a new stake in Ameriprise Financial in the 3rd quarter worth approximately $196,770,000. Neville Rodie & Shaw Inc. boosted its stake in shares of Ameriprise Financial by 4,524.8% during the 3rd quarter. Neville Rodie & Shaw Inc. now owns 32,651 shares of the financial services provider’s stock valued at $16,076,000 after buying an additional 31,945 shares during the period. Canandaigua National Bank & Trust Co. acquired a new position in shares of Ameriprise Financial in the third quarter worth $4,162,000. Ballew Advisors Inc acquired a new position in shares of Ameriprise Financial in the third quarter worth $4,112,000. Finally, EP Wealth Advisors LLC purchased a new stake in shares of Ameriprise Financial during the second quarter worth $1,704,000. Institutional investors and hedge funds own 83.95% of the company’s stock.

Ameriprise Financial Company Profile

Ameriprise Financial is a financial services company focused on helping individuals and institutions plan for and manage their finances. Its offerings include financial planning and investment advice, brokerage services, asset management, insurance and annuity products. The company traces its roots to Investors Syndicate, founded in Minneapolis in 1894. It became an independent public company in 2005 after separating from American Express, and remains headquartered in Minneapolis. Ameriprise serves clients primarily in the United States through its network of financial advisors.