Ameriprise Financial, Inc. (NYSE:AMP) Receives $449.57 Average PT from Analysts

Shares of Ameriprise Financial, Inc. (NYSE:AMP) have earned an average recommendation of “Hold” from the eight ratings firms that are covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and three have given a buy recommendation to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $449.57.

Several research firms have commented on AMP. Royal Bank of Canada upped their price objective on shares of Ameriprise Financial from $470.00 to $480.00 and gave the company an “outperform” rating in a report on Wednesday, April 24th. Morgan Stanley increased their price objective on Ameriprise Financial from $400.00 to $437.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 9th. The Goldman Sachs Group increased their price target on shares of Ameriprise Financial from $437.00 to $488.00 and gave the stock a “buy” rating in a report on Wednesday, March 27th. Evercore ISI raised their price objective on Ameriprise Financial from $400.00 to $445.00 and gave the company an “in-line” rating in a report on Thursday, April 11th. Finally, Piper Sandler raised their price target on Ameriprise Financial from $360.00 to $392.00 and gave the stock an “underweight” rating in a research report on Friday, April 5th.

Insider Activity at Ameriprise Financial

In other Ameriprise Financial news, CEO William F. Truscott sold 8,000 shares of the business’s stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $412.05, for a total transaction of $3,296,400.00. Following the transaction, the chief executive officer now owns 13,134 shares in the company, valued at $5,411,864.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Ameriprise Financial news, CEO William F. Truscott sold 8,000 shares of the stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $412.05, for a total transaction of $3,296,400.00. Following the transaction, the chief executive officer now directly owns 13,134 shares in the company, valued at approximately $5,411,864.70. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Gumer Alvero sold 1,652 shares of the stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $437.00, for a total transaction of $721,924.00. Following the transaction, the insider now owns 6,994 shares in the company, valued at $3,056,378. The disclosure for this sale can be found here. Insiders have sold a total of 74,326 shares of company stock valued at $29,775,593 over the last 90 days. 0.96% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Ameriprise Financial

Hedge funds and other institutional investors have recently made changes to their positions in the company. Norges Bank acquired a new stake in Ameriprise Financial during the 4th quarter worth $514,539,000. Dimensional Fund Advisors LP boosted its holdings in Ameriprise Financial by 3.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,015,225 shares of the financial services provider’s stock valued at $385,620,000 after purchasing an additional 35,931 shares in the last quarter. Royal Bank of Canada boosted its holdings in Ameriprise Financial by 2.4% in the third quarter. Royal Bank of Canada now owns 894,744 shares of the financial services provider’s stock valued at $294,979,000 after purchasing an additional 20,970 shares in the last quarter. Invesco Ltd. boosted its holdings in Ameriprise Financial by 13.4% in the third quarter. Invesco Ltd. now owns 672,823 shares of the financial services provider’s stock valued at $221,816,000 after purchasing an additional 79,611 shares in the last quarter. Finally, Envestnet Asset Management Inc. lifted its stake in Ameriprise Financial by 5.2% in the fourth quarter. Envestnet Asset Management Inc. now owns 652,360 shares of the financial services provider’s stock valued at $247,786,000 after buying an additional 32,312 shares during the last quarter. Institutional investors and hedge funds own 83.95% of the company’s stock.

Ameriprise Financial Trading Up 1.5 %

AMP opened at $416.35 on Friday. The firm has a market capitalization of $41.71 billion, a PE ratio of 14.17, a P/E/G ratio of 0.70 and a beta of 1.36. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.56 and a quick ratio of 0.56. Ameriprise Financial has a fifty-two week low of $279.85 and a fifty-two week high of $440.67. The company’s 50-day moving average is $419.02 and its 200 day moving average is $382.14.

Ameriprise Financial (NYSE:AMP) last announced its earnings results on Wednesday, April 24th. The financial services provider reported $8.39 earnings per share for the quarter, topping analysts’ consensus estimates of $8.10 by $0.29. The firm had revenue of $4.15 billion for the quarter, compared to the consensus estimate of $4.15 billion. Ameriprise Financial had a return on equity of 75.97% and a net margin of 19.42%. The company’s revenue was up 10.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $7.25 EPS. As a group, research analysts predict that Ameriprise Financial will post 34.65 earnings per share for the current fiscal year.

Ameriprise Financial Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 17th. Stockholders of record on Monday, May 6th will be issued a $1.48 dividend. This represents a $5.92 annualized dividend and a dividend yield of 1.42%. The ex-dividend date of this dividend is Friday, May 3rd. This is an increase from Ameriprise Financial’s previous quarterly dividend of $1.35. Ameriprise Financial’s payout ratio is 18.38%.

About Ameriprise Financial

Ameriprise Financial, Inc, together with 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.