StockNews.com Lowers Ameriprise Financial (NYSE:AMP) to Sell

StockNews.com cut shares of Ameriprise Financial (NYSE:AMPGet Rating) from a hold rating to a sell rating in a research report released on Tuesday morning.

Other research analysts have also issued reports about the company. Credit Suisse Group lifted their price objective on Ameriprise Financial to $351.00 in a research report on Tuesday, November 1st. Morgan Stanley raised their target price on Ameriprise Financial from $310.00 to $340.00 and gave the company an equal weight rating in a research note on Thursday, November 17th. Piper Sandler raised their target price on Ameriprise Financial from $240.00 to $250.00 and gave the company an underweight rating in a research note on Friday, October 7th. Royal Bank of Canada raised their target price on Ameriprise Financial from $310.00 to $350.00 and gave the company an outperform rating in a research note on Friday, October 28th. Finally, Bank of America started coverage on Ameriprise Financial in a research note on Wednesday, September 7th. They issued a buy rating and a $336.00 target price for the company. Two analysts have rated the stock with a sell rating, two have given a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of Hold and an average price target of $324.11.

Ameriprise Financial Stock Performance

AMP stock opened at $330.42 on Tuesday. The stock has a 50-day moving average price of $287.24 and a 200-day moving average price of $269.60. Ameriprise Financial has a 1-year low of $219.99 and a 1-year high of $339.41. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 1.60. The firm has a market cap of $35.16 billion, a PE ratio of 13.78, a price-to-earnings-growth ratio of 0.78 and a beta of 1.47.

Ameriprise Financial (NYSE:AMPGet Rating) last posted its quarterly earnings data on Wednesday, October 26th. The financial services provider reported $6.43 earnings per share for the quarter, topping the consensus estimate of $5.85 by $0.58. Ameriprise Financial had a return on equity of 61.53% and a net margin of 19.17%. The firm had revenue of $3.49 billion during the quarter, compared to analyst estimates of $3.32 billion. During the same period last year, the company posted $5.91 EPS. The business’s quarterly revenue was up 20.3% on a year-over-year basis. As a group, equities research analysts expect that Ameriprise Financial will post 24.38 earnings per share for the current year.

Ameriprise Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 18th. Shareholders of record on Monday, November 7th were paid a dividend of $1.25 per share. The ex-dividend date was Friday, November 4th. This represents a $5.00 dividend on an annualized basis and a yield of 1.51%. Ameriprise Financial’s dividend payout ratio (DPR) is currently 20.85%.

Insider Buying and Selling at Ameriprise Financial

In other news, EVP Gerard P. Smyth sold 4,129 shares of the business’s stock in a transaction that occurred on Tuesday, November 15th. The stock was sold at an average price of $324.66, for a total value of $1,340,521.14. Following the transaction, the executive vice president now owns 5,272 shares in the company, valued at approximately $1,711,607.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, CFO Walter Stanley Berman sold 11,983 shares of the business’s stock in a transaction that occurred on Tuesday, November 15th. The stock was sold at an average price of $327.81, for a total value of $3,928,147.23. Following the transaction, the chief financial officer now owns 10,751 shares in the company, valued at approximately $3,524,285.31. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Gerard P. Smyth sold 4,129 shares of the business’s stock in a transaction that occurred on Tuesday, November 15th. The stock was sold at an average price of $324.66, for a total value of $1,340,521.14. Following the completion of the transaction, the executive vice president now owns 5,272 shares in the company, valued at approximately $1,711,607.52. The disclosure for this sale can be found here. In the last quarter, insiders sold 17,112 shares of company stock worth $5,545,678. Insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On Ameriprise Financial

Hedge funds and other institutional investors have recently modified their holdings of the business. DekaBank Deutsche Girozentrale boosted its stake in shares of Ameriprise Financial by 2.7% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 45,636 shares of the financial services provider’s stock worth $10,828,000 after buying an additional 1,204 shares during the last quarter. D.A. Davidson & CO. raised its holdings in shares of Ameriprise Financial by 7.5% in the 1st quarter. D.A. Davidson & CO. now owns 2,178 shares of the financial services provider’s stock worth $654,000 after purchasing an additional 152 shares during the period. Boston Financial Mangement LLC bought a new stake in shares of Ameriprise Financial in the 1st quarter worth approximately $508,000. Checchi Capital Advisers LLC raised its holdings in shares of Ameriprise Financial by 11.5% in the 1st quarter. Checchi Capital Advisers LLC now owns 1,275 shares of the financial services provider’s stock worth $383,000 after purchasing an additional 131 shares during the period. Finally, CIBC Asset Management Inc raised its holdings in shares of Ameriprise Financial by 0.8% in the 1st quarter. CIBC Asset Management Inc now owns 10,937 shares of the financial services provider’s stock worth $3,285,000 after purchasing an additional 82 shares during the period. Hedge funds and other institutional investors own 82.92% of the company’s stock.

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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Analyst Recommendations for Ameriprise Financial (NYSE:AMP)

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