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

Ameriprise Financial, Inc. (NYSE:AMP) has earned an average recommendation of “Hold” from the eleven analysts that are presently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, six have given a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1 year price target among analysts that have covered the stock in the last year is $543.2222.

AMP has been the subject of several research analyst reports. Weiss Ratings lowered Ameriprise Financial from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, May 27th. BMO Capital Markets boosted their price objective on Ameriprise Financial from $470.00 to $490.00 and gave the company a “market perform” rating in a report on Friday, April 24th. Raymond James Financial set a $582.00 price objective on Ameriprise Financial and gave the company a “strong-buy” rating in a report on Wednesday, February 11th. Piper Sandler boosted their price objective on Ameriprise Financial from $460.00 to $471.00 and gave the company a “neutral” rating in a report on Monday, May 4th. Finally, Keefe, Bruyette & Woods began coverage on Ameriprise Financial in a report on Friday, April 10th. They issued a “hold” rating for the company.

Insider Activity

In related news, EVP Gerard P. Smyth sold 6,255 shares of the business’s stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $472.52, for a total value of $2,955,612.60. Following the completion of the sale, the executive vice president directly owned 6,103 shares of the company’s stock, valued at $2,883,789.56. The trade was a 50.61% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Robert Francis Sharpe, Jr. sold 1,200 shares of the business’s stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $465.83, for a total value of $558,996.00. Following the completion of the sale, the director directly owned 6,300 shares of the company’s stock, valued at approximately $2,934,729. This represents a 16.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.60% of the stock is owned by insiders.

Institutional Trading of Ameriprise Financial

Several hedge funds and other institutional investors have recently bought and sold shares of the company. NEOS Investment Management LLC grew its holdings in shares of Ameriprise Financial by 45.5% during the third quarter. NEOS Investment Management LLC now owns 12,272 shares of the financial services provider’s stock valued at $6,029,000 after purchasing an additional 3,838 shares during the last quarter. Pensionfund Sabic bought a new position in shares of Ameriprise Financial during the fourth quarter valued at approximately $1,471,000. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in shares of Ameriprise Financial by 5.7% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 199,258 shares of the financial services provider’s stock valued at $98,388,000 after purchasing an additional 10,782 shares during the last quarter. Aster Capital Management DIFC Ltd grew its holdings in shares of Ameriprise Financial by 2,600.0% during the third quarter. Aster Capital Management DIFC Ltd now owns 3,483 shares of the financial services provider’s stock valued at $1,711,000 after purchasing an additional 3,354 shares during the last quarter. Finally, Aberdeen Group plc grew its holdings in Ameriprise Financial by 32.4% in the 3rd quarter. Aberdeen Group plc now owns 94,385 shares of the financial services provider’s stock worth $47,154,000 after buying an additional 23,085 shares in the last quarter. 83.95% of the stock is owned by institutional investors.

Ameriprise Financial Stock Up 0.5%

Shares of NYSE AMP opened at $451.50 on Thursday. Ameriprise Financial has a 1 year low of $422.37 and a 1 year high of $550.18. The firm has a market cap of $40.59 billion, a price-to-earnings ratio of 11.23, a PEG ratio of 0.95 and a beta of 1.16. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.66 and a current ratio of 0.66. The stock’s 50-day simple moving average is $456.46 and its 200-day simple moving average is $472.82.

Ameriprise Financial (NYSE:AMP) last announced its earnings results on Thursday, April 23rd. The financial services provider reported $11.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $10.21 by $1.05. Ameriprise Financial had a return on equity of 62.88% and a net margin of 20.57%.The business had revenue of $4.77 billion for the quarter, compared to analyst estimates of $4.82 billion. During the same period in the previous year, the company earned $9.50 earnings per share. The company’s revenue for the quarter was up 9.7% compared to the same quarter last year. As a group, equities analysts anticipate that Ameriprise Financial will post 42.63 earnings per share for the current fiscal year.

Ameriprise Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 22nd. Investors of record on Monday, May 4th were issued a $1.70 dividend. This is an increase from Ameriprise Financial’s previous quarterly dividend of $1.60. This represents a $6.80 annualized dividend and a yield of 1.5%. The ex-dividend date of this dividend was Monday, May 4th. Ameriprise Financial’s dividend payout ratio is presently 16.91%.

Ameriprise Financial Company Profile

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.