Ameriprise Financial, Inc. (NYSE:AMP) has been given a consensus rating of “Buy” by the ten ratings firms that are covering the company, Marketbeat.com reports. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $174.25.
AMP has been the topic of several research analyst reports. Barclays increased their price objective on shares of Ameriprise Financial from $146.00 to $171.00 and gave the company an “overweight” rating in a research report on Thursday, April 25th. Zacks Investment Research raised shares of Ameriprise Financial from a “sell” rating to a “hold” rating in a research report on Tuesday, February 12th. Citigroup increased their price objective on shares of Ameriprise Financial from $153.00 to $170.00 and gave the company a “buy” rating in a research report on Thursday, April 25th. Ameriprise Financial raised shares of Ameriprise Financial from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $145.00 to $202.00 in a research report on Monday, May 13th. Finally, Royal Bank of Canada set a $134.00 price objective on shares of Ameriprise Financial and gave the company a “hold” rating in a research report on Saturday, February 2nd.
A number of large investors have recently added to or reduced their stakes in AMP. Legal & General Group Plc increased its position in Ameriprise Financial by 0.5% during the third quarter. Legal & General Group Plc now owns 658,681 shares of the financial services provider’s stock worth $97,261,000 after acquiring an additional 3,486 shares during the period. IFP Advisors Inc increased its holdings in Ameriprise Financial by 3.4% in the 4th quarter. IFP Advisors Inc now owns 2,893 shares of the financial services provider’s stock valued at $298,000 after buying an additional 95 shares during the period. IFM Investors Pty Ltd increased its holdings in Ameriprise Financial by 8.8% in the 4th quarter. IFM Investors Pty Ltd now owns 8,477 shares of the financial services provider’s stock valued at $885,000 after buying an additional 686 shares during the period. Quantamental Technologies LLC bought a new position in Ameriprise Financial in the 4th quarter valued at about $491,000. Finally, First Bank & Trust increased its holdings in Ameriprise Financial by 15.8% in the 4th quarter. First Bank & Trust now owns 918 shares of the financial services provider’s stock valued at $96,000 after buying an additional 125 shares during the period. 81.16% of the stock is currently owned by institutional investors and hedge funds.
Ameriprise Financial (NYSE:AMP) last issued its quarterly earnings data on Wednesday, April 24th. The financial services provider reported $3.75 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $3.61 by $0.14. The company had revenue of $3.12 billion for the quarter, compared to analyst estimates of $3.03 billion. Ameriprise Financial had a net margin of 14.85% and a return on equity of 37.97%. The company’s revenue was down 1.6% on a year-over-year basis. During the same period in the prior year, the firm earned $3.70 earnings per share. As a group, equities research analysts anticipate that Ameriprise Financial will post 15.9 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, May 17th. Investors of record on Monday, May 6th were given a dividend of $0.97 per share. This represents a $3.88 dividend on an annualized basis and a yield of 2.65%. This is a positive change from Ameriprise Financial’s previous quarterly dividend of $0.90. The ex-dividend date was Friday, May 3rd. Ameriprise Financial’s dividend payout ratio (DPR) is currently 25.97%.
Ameriprise Financial Company Profile
Ameriprise Financial, Inc, through its subsidiaries, provides various financial products and services to individual and institutional clients in the United States and internationally. It operates through five segments: Advice & Wealth Management, Asset Management, Annuities, Protection, and Corporate & Other.
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