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

Posted by on Jun 22nd, 2022

Shares of Ameriprise Financial, Inc. (NYSE:AMP – Get Rating) have been given an average rating of “Moderate Buy” by the eleven research firms that are presently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, two have given a hold recommendation and eight have assigned a buy recommendation to the company. The average 12-month price target among brokers that have covered the stock in the last year is $339.56.

Several research analysts recently commented on AMP shares. UBS Group lowered their target price on Ameriprise Financial from $360.00 to $350.00 and set a “buy” rating for the company in a research note on Tuesday, April 26th. William Blair reissued an “outperform” rating on shares of Ameriprise Financial in a report on Tuesday, April 26th. StockNews.com started coverage on Ameriprise Financial in a research report on Thursday, March 31st. They set a “hold” rating on the stock. Piper Sandler lowered their price target on Ameriprise Financial from $275.00 to $253.00 and set an “underweight” rating on the stock in a report on Thursday, June 16th. Finally, Jefferies Financial Group increased their target price on Ameriprise Financial from $325.00 to $350.00 and gave the company a “buy” rating in a report on Monday, April 4th.

In other Ameriprise Financial news, insider Gumer Alvero sold 2,044 shares of the firm’s stock in a transaction dated Friday, March 25th. The shares were sold at an average price of $314.30, for a total value of $642,429.20. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Walter Stanley Berman sold 8,711 shares of the firm’s stock in a transaction dated Monday, March 28th. The stock was sold at an average price of $312.01, for a total transaction of $2,717,919.11. The disclosure for this sale can be found here. Insiders sold 67,377 shares of company stock valued at $21,148,716 over the last quarter. Insiders own 1.00% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the business. Allspring Global Investments Holdings LLC bought a new position in Ameriprise Financial in the fourth quarter worth about $7,156,000. Teacher Retirement System of Texas raised its holdings in Ameriprise Financial by 14.4% during the fourth quarter. Teacher Retirement System of Texas now owns 53,284 shares of the financial services provider’s stock worth $16,074,000 after purchasing an additional 6,722 shares in the last quarter. Neo Ivy Capital Management bought a new stake in Ameriprise Financial during the fourth quarter worth approximately $271,000. Fractal Investments LLC bought a new stake in Ameriprise Financial during the fourth quarter worth approximately $282,000. Finally, Asset Allocation & Management Company LLC bought a new stake in Ameriprise Financial during the fourth quarter worth approximately $1,056,000. 82.69% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Ameriprise Financial stock opened at $242.60 on Wednesday. Ameriprise Financial has a one year low of $233.16 and a one year high of $332.37. The company has a market cap of $26.66 billion, a price-to-earnings ratio of 9.32 and a beta of 1.49. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.94 and a current ratio of 0.94. The business’s 50 day moving average price is $267.34 and its 200 day moving average price is $289.32.

Ameriprise Financial (NYSE:AMP – Get Rating) last posted its earnings results on Monday, April 25th. The financial services provider reported $5.98 EPS for the quarter, beating analysts’ consensus estimates of $5.93 by $0.05. Ameriprise Financial had a return on equity of 50.02% and a net margin of 22.45%. The company had revenue of $3.66 billion for the quarter, compared to the consensus estimate of $3.72 billion. During the same quarter in the previous year, the business earned $5.43 earnings per share. The company’s revenue for the quarter was up 9.1% on a year-over-year basis. On average, analysts predict that Ameriprise Financial will post 25.49 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Friday, May 20th. Investors of record on Monday, May 9th were paid a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a yield of 2.06%. This is an increase from Ameriprise Financial’s previous quarterly dividend of $1.13. The ex-dividend date was Friday, May 6th. Ameriprise Financial’s dividend payout ratio (DPR) is 19.20%.

About Ameriprise Financial (Get Rating)

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 four segments: Advice & Wealth Management, Asset Management, Retirement & Protection Solutions, and Corporate & Other.

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