Ameriprise Financial, Inc. (NYSE:AMP) Receives Consensus Rating of “Hold” from Brokerages

Shares of Ameriprise Financial, Inc. (NYSE:AMP) have received a consensus recommendation of “Hold” from the ten analysts that are presently covering the stock, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, four have assigned a hold recommendation, three have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year target price among brokers that have covered the stock in the last year is $528.75.

A number of analysts have issued reports on the company. Weiss Ratings reissued a “buy (b-)” rating on shares of Ameriprise Financial in a research report on Monday, December 29th. Royal Bank Of Canada dropped their price objective on Ameriprise Financial from $601.00 to $550.00 and set an “outperform” rating for the company in a research note on Monday, November 3rd. BMO Capital Markets began coverage on Ameriprise Financial in a report on Friday, October 3rd. They issued a “market perform” rating and a $525.00 price objective on the stock. Evercore ISI decreased their target price on Ameriprise Financial from $587.00 to $570.00 and set an “in-line” rating on the stock in a research note on Thursday, October 9th. Finally, Keefe, Bruyette & Woods lowered their target price on Ameriprise Financial from $550.00 to $530.00 and set a “market perform” rating for the company in a report on Monday, November 3rd.

Ameriprise Financial Trading Up 0.9%

NYSE AMP opened at $508.25 on Monday. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.68 and a quick ratio of 0.68. The stock has a market capitalization of $47.22 billion, a P/E ratio of 13.94, a PEG ratio of 1.26 and a beta of 1.26. The firm’s 50-day moving average is $475.82 and its two-hundred day moving average is $494.90. Ameriprise Financial has a 12 month low of $396.14 and a 12 month high of $582.05.

Ameriprise Financial (NYSE:AMP) last announced its quarterly earnings results on Thursday, October 30th. The financial services provider reported $9.92 earnings per share for the quarter, beating analysts’ consensus estimates of $9.76 by $0.16. Ameriprise Financial had a net margin of 20.12% and a return on equity of 64.97%. The business had revenue of $4.73 billion during the quarter, compared to analysts’ expectations of $4.51 billion. During the same period last year, the business earned $9.02 earnings per share. The business’s revenue for the quarter was up 9.0% on a year-over-year basis. On average, sell-side analysts anticipate that Ameriprise Financial will post 38.64 earnings per share for the current year.

Ameriprise Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 24th. Investors of record on Monday, November 10th were issued a $1.60 dividend. The ex-dividend date was Monday, November 10th. This represents a $6.40 dividend on an annualized basis and a dividend yield of 1.3%. Ameriprise Financial’s payout ratio is 17.55%.

Insider Transactions at Ameriprise Financial

In other Ameriprise Financial news, Director Robert Francis Sharpe, Jr. sold 1,500 shares of the stock in a transaction that occurred on Friday, November 21st. The shares were sold at an average price of $450.94, for a total transaction of $676,410.00. Following the sale, the director directly owned 7,500 shares in the company, valued at $3,382,050. This represents a 16.67% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.57% of the stock is currently owned by company insiders.

Institutional Trading of Ameriprise Financial

Several hedge funds have recently modified their holdings of AMP. Vanguard Group Inc. grew its stake in Ameriprise Financial by 0.9% during the 2nd quarter. Vanguard Group Inc. now owns 12,432,261 shares of the financial services provider’s stock worth $6,635,471,000 after purchasing an additional 111,386 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Ameriprise Financial by 7.7% in the 2nd quarter. JPMorgan Chase & Co. now owns 6,270,995 shares of the financial services provider’s stock valued at $3,347,019,000 after buying an additional 446,080 shares during the period. State Street Corp boosted its stake in shares of Ameriprise Financial by 0.4% in the 3rd quarter. State Street Corp now owns 4,420,072 shares of the financial services provider’s stock valued at $2,171,360,000 after buying an additional 18,879 shares during the period. Geode Capital Management LLC grew its position in shares of Ameriprise Financial by 1.7% during the second quarter. Geode Capital Management LLC now owns 2,818,428 shares of the financial services provider’s stock worth $1,500,115,000 after buying an additional 47,584 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of Ameriprise Financial during the second quarter worth approximately $693,736,000. 83.95% of the stock is currently owned by institutional investors and hedge funds.

About Ameriprise Financial

Ameriprise Financial, Inc is a diversified financial services company headquartered in Minneapolis, Minnesota. The firm provides a range of advice-based wealth management, asset management and insurance products to individual and institutional clients. Its business model centers on delivering financial planning and investment advice through a network of financial advisors alongside proprietary product offerings designed to meet retirement, protection and accumulation needs.

Core products and services include comprehensive financial planning and advisory services, managed investment portfolios, retirement planning solutions, annuities and life insurance products.