Ameriprise Financial, Inc. (AMP) Receives Average Recommendation of “Hold” from Brokerages

Ameriprise Financial, Inc. (NYSE:AMP) has received an average recommendation of “Hold” from the ten research firms that are covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, five have issued a hold recommendation and four have issued a buy recommendation on the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $160.38.

A number of analysts recently weighed in on the company. Zacks Investment Research upgraded Ameriprise Financial from a “hold” rating to a “buy” rating and set a $169.00 target price for the company in a research report on Friday, October 5th. Sandler O’Neill set a $150.00 price objective on Ameriprise Financial and gave the company a “hold” rating in a research report on Monday, August 13th. Credit Suisse Group lowered their price objective on Ameriprise Financial from $154.00 to $145.00 and set a “neutral” rating for the company in a research report on Friday, August 17th. Royal Bank of Canada set a $160.00 price objective on Ameriprise Financial and gave the company a “hold” rating in a research report on Friday, October 12th. Finally, Morgan Stanley lowered their price objective on Ameriprise Financial from $177.00 to $170.00 and set an “overweight” rating for the company in a research report on Tuesday, November 13th.

A number of hedge funds have recently made changes to their positions in the business. Pennsylvania Trust Co increased its stake in shares of Ameriprise Financial by 1.8% during the third quarter. Pennsylvania Trust Co now owns 20,975 shares of the financial services provider’s stock valued at $3,098,000 after buying an additional 375 shares during the period. Gs Investments Inc. increased its stake in shares of Ameriprise Financial by 2.2% during the second quarter. Gs Investments Inc. now owns 18,145 shares of the financial services provider’s stock valued at $2,538,000 after buying an additional 385 shares during the period. Valeo Financial Advisors LLC increased its stake in shares of Ameriprise Financial by 56.7% during the second quarter. Valeo Financial Advisors LLC now owns 1,075 shares of the financial services provider’s stock valued at $147,000 after buying an additional 389 shares during the period. Captrust Financial Advisors increased its stake in shares of Ameriprise Financial by 10.0% during the second quarter. Captrust Financial Advisors now owns 4,368 shares of the financial services provider’s stock valued at $611,000 after buying an additional 397 shares during the period. Finally, Norinchukin Bank The increased its stake in shares of Ameriprise Financial by 4.3% during the third quarter. Norinchukin Bank The now owns 10,037 shares of the financial services provider’s stock valued at $1,482,000 after buying an additional 411 shares during the period. Hedge funds and other institutional investors own 81.96% of the company’s stock.

NYSE:AMP opened at $127.58 on Friday. The company has a market capitalization of $17.58 billion, a P/E ratio of 10.40 and a beta of 1.79. Ameriprise Financial has a 1-year low of $120.79 and a 1-year high of $183.90. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 0.75.

Ameriprise Financial (NYSE:AMP) last released its earnings results on Tuesday, October 23rd. The financial services provider reported $4.05 earnings per share for the quarter, topping the Zacks’ consensus estimate of $3.68 by $0.37. The company had revenue of $3.19 billion during the quarter, compared to the consensus estimate of $3.20 billion. Ameriprise Financial had a return on equity of 37.21% and a net margin of 13.58%. Ameriprise Financial’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.12 EPS. On average, equities analysts forecast that Ameriprise Financial will post 15.04 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 16th. Shareholders of record on Monday, November 5th were given a $0.90 dividend. The ex-dividend date was Friday, November 2nd. This represents a $3.60 annualized dividend and a yield of 2.82%. Ameriprise Financial’s payout ratio is currently 29.34%.

About Ameriprise Financial

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 Advice & Wealth Management, Asset Management, Annuities, and Protection segments. The Advice & Wealth Management segment provides financial planning and advice, as well as full-service brokerage services primarily to retail clients through its advisors.

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Analyst Recommendations for Ameriprise Financial (NYSE:AMP)

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