Ameriprise Financial (NYSE:AMP) Sets New 12-Month High at $167.65

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Shares of Ameriprise Financial, Inc. (NYSE:AMP) hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $167.65 and last traded at $167.20, with a volume of 87891 shares trading hands. The stock had previously closed at $164.51.

A number of equities research analysts have recently issued reports on the stock. Zacks Investment Research downgraded shares of Ameriprise Financial from a “hold” rating to a “sell” rating and set a $149.00 price objective for the company. in a research report on Wednesday, October 16th. Citigroup cut their price objective on shares of Ameriprise Financial from $178.00 to $170.00 and set a “buy” rating for the company in a research report on Friday, September 13th. Morgan Stanley cut their price objective on shares of Ameriprise Financial from $175.00 to $170.00 and set an “overweight” rating for the company in a research report on Tuesday, August 20th. Finally, ValuEngine raised shares of Ameriprise Financial from a “strong sell” rating to a “sell” rating in a research report on Monday, November 25th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and eight have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $173.00.

The company has a market cap of $21.57 billion, a P/E ratio of 11.17 and a beta of 1.87. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.83 and a current ratio of 0.83. The firm’s fifty day moving average is $158.07 and its two-hundred day moving average is $145.68.

Ameriprise Financial (NYSE:AMP) last issued its earnings results on Wednesday, October 23rd. The financial services provider reported $4.24 earnings per share for the quarter, topping the consensus estimate of $4.09 by $0.15. The company had revenue of $3.30 billion during the quarter, compared to the consensus estimate of $3 billion. Ameriprise Financial had a net margin of 15.31% and a return on equity of 37.50%. Ameriprise Financial’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.74 EPS. On average, equities research analysts expect that Ameriprise Financial, Inc. will post 16.25 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Monday, November 4th were issued a $0.97 dividend. This represents a $3.88 annualized dividend and a yield of 2.33%. The ex-dividend date of this dividend was Friday, November 1st. Ameriprise Financial’s dividend payout ratio is currently 25.97%.

In related news, insider John Robert Woerner sold 6,477 shares of the company’s stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $154.13, for a total value of $998,300.01. Following the completion of the transaction, the insider now owns 27,196 shares of the company’s stock, valued at approximately $4,191,719.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP Karen Wilson Thissen sold 303 shares of the company’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $158.67, for a total transaction of $48,077.01. Following the completion of the transaction, the vice president now directly owns 14,599 shares of the company’s stock, valued at approximately $2,316,423.33. The disclosure for this sale can be found here. Corporate insiders own 1.90% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in AMP. Lenox Wealth Advisors LLC bought a new position in shares of Ameriprise Financial during the 3rd quarter valued at about $25,000. KCS Wealth Advisory bought a new position in shares of Ameriprise Financial during the 3rd quarter valued at about $26,000. Tortoise Investment Management LLC boosted its holdings in shares of Ameriprise Financial by 416.7% during the 2nd quarter. Tortoise Investment Management LLC now owns 186 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 150 shares during the last quarter. Griffin Asset Management Inc. bought a new position in shares of Ameriprise Financial during the 2nd quarter valued at about $28,000. Finally, Capital Bank & Trust Co bought a new position in shares of Ameriprise Financial during the 2nd quarter valued at about $29,000. 81.34% of the stock is owned by institutional investors and hedge funds.

About Ameriprise Financial (NYSE:AMP)

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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