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

Shares of Ameriprise Financial, Inc. (NYSE:AMP) have been given an average rating of “Hold” by the eleven research firms that are currently covering the firm, Marketbeat reports. One analyst has rated the stock with a sell recommendation, five have issued a hold recommendation, four have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price objective among brokers that have covered the stock in the last year is $555.6667.

AMP has been the topic of a number of research reports. Jefferies Financial Group raised their price target on Ameriprise Financial from $600.00 to $620.00 and gave the stock a “buy” rating in a report on Monday, February 2nd. Morgan Stanley upped their price objective on Ameriprise Financial from $484.00 to $485.00 and gave the company an “underweight” rating in a research note on Monday, December 22nd. Raymond James Financial set a $582.00 price objective on Ameriprise Financial and gave the stock a “strong-buy” rating in a research report on Wednesday, February 11th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Ameriprise Financial in a research note on Monday, December 29th. Finally, BMO Capital Markets reissued a “market perform” rating on shares of Ameriprise Financial in a report on Tuesday, March 3rd.

Insider Buying and Selling at Ameriprise Financial

In other Ameriprise Financial news, CEO William F. Truscott sold 5,000 shares of the company’s stock in a transaction on Tuesday, February 10th. The shares were sold at an average price of $532.08, for a total transaction of $2,660,400.00. Following the completion of the transaction, the chief executive officer owned 12,149 shares in the company, valued at approximately $6,464,239.92. This represents a 29.16% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Gumer Alvero sold 4,658 shares of the firm’s stock in a transaction on Monday, February 9th. The stock was sold at an average price of $542.88, for a total transaction of $2,528,735.04. Following the completion of the sale, the insider owned 4,621 shares of the company’s stock, valued at $2,508,648.48. This trade represents a 50.20% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 16,658 shares of company stock valued at $8,998,675. 0.73% of the stock is owned by company insiders.

Institutional Trading of Ameriprise Financial

Hedge funds have recently modified their holdings of the business. Old North State Trust LLC raised its holdings in Ameriprise Financial by 7.6% during the fourth quarter. Old North State Trust LLC now owns 3,271 shares of the financial services provider’s stock worth $1,604,000 after purchasing an additional 230 shares during the last quarter. Hsbc Holdings PLC grew its holdings in Ameriprise Financial by 3.7% in the fourth quarter. Hsbc Holdings PLC now owns 593,738 shares of the financial services provider’s stock valued at $291,615,000 after purchasing an additional 21,017 shares during the last quarter. Rockefeller Capital Management L.P. grew its holdings in Ameriprise Financial by 53.7% in the fourth quarter. Rockefeller Capital Management L.P. now owns 121,063 shares of the financial services provider’s stock valued at $59,362,000 after purchasing an additional 42,290 shares during the last quarter. World Investment Advisors increased its position in shares of Ameriprise Financial by 4.4% in the fourth quarter. World Investment Advisors now owns 3,721 shares of the financial services provider’s stock valued at $1,824,000 after buying an additional 158 shares in the last quarter. Finally, Corient Private Wealth LLC increased its position in shares of Ameriprise Financial by 5.9% in the fourth quarter. Corient Private Wealth LLC now owns 27,420 shares of the financial services provider’s stock valued at $13,447,000 after buying an additional 1,525 shares in the last quarter. 83.95% of the stock is owned by institutional investors and hedge funds.

Ameriprise Financial Trading Down 2.5%

AMP opened at $436.98 on Friday. The firm has a market cap of $39.84 billion, a price-to-earnings ratio of 12.02, a price-to-earnings-growth ratio of 1.04 and a beta of 1.27. Ameriprise Financial has a 52 week low of $396.14 and a 52 week high of $550.18. The business’s 50 day moving average is $478.56 and its two-hundred day moving average is $480.39. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 0.86.

Ameriprise Financial (NYSE:AMP) last posted its quarterly earnings data on Thursday, January 29th. The financial services provider reported $10.83 earnings per share for the quarter, beating the consensus estimate of $10.33 by $0.50. Ameriprise Financial had a return on equity of 63.04% and a net margin of 19.28%.The business had revenue of $4.92 billion during the quarter, compared to the consensus estimate of $4.75 billion. During the same period in the prior year, the company earned $9.54 earnings per share. The company’s revenue was up 10.2% compared to the same quarter last year. On average, research analysts predict that Ameriprise Financial will post 38.64 EPS for the current year.

Ameriprise Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 27th. Shareholders of record on Monday, February 9th were paid a $1.60 dividend. This represents a $6.40 annualized dividend and a yield of 1.5%. The ex-dividend date of this dividend was Monday, February 9th. Ameriprise Financial’s payout ratio is currently 17.60%.

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.