Ameriprise Financial (NYSE:AMP) Earns Hold Rating from Analysts at StockNews.com

StockNews.com assumed coverage on shares of Ameriprise Financial (NYSE:AMP – Get Rating) in a report published on Thursday morning. The firm issued a hold rating on the financial services provider’s stock.

A number of other research firms have also recently weighed in on AMP. Argus upped their price target on Ameriprise Financial from $340.00 to $392.00 in a report on Tuesday, January 31st. Keefe, Bruyette & Woods raised their price target on Ameriprise Financial from $350.00 to $375.00 and gave the company a market perform rating in a research report on Tuesday, January 31st. The Goldman Sachs Group boosted their price objective on shares of Ameriprise Financial from $290.00 to $330.00 and gave the stock a neutral rating in a research report on Wednesday, November 23rd. Credit Suisse Group raised their target price on shares of Ameriprise Financial from $382.00 to $401.00 and gave the company an outperform rating in a report on Wednesday, February 1st. Finally, Morgan Stanley upped their price target on shares of Ameriprise Financial from $340.00 to $345.00 and gave the company an equal weight rating in a report on Tuesday, January 10th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of Moderate Buy and a consensus price target of $347.18.

Ameriprise Financial Price Performance

Ameriprise Financial stock opened at $281.43 on Thursday. The company has a market cap of $29.95 billion, a P/E ratio of 12.54, a price-to-earnings-growth ratio of 0.51 and a beta of 1.49. Ameriprise Financial has a one year low of $219.99 and a one year high of $357.46. The business has a fifty day moving average of $335.26 and a two-hundred day moving average of $310.37. The company has a debt-to-equity ratio of 1.43, a quick ratio of 0.69 and a current ratio of 0.69.

Ameriprise Financial (NYSE:AMP – Get Rating) last announced its quarterly earnings data on Thursday, January 26th. The financial services provider reported $6.94 EPS for the quarter, beating the consensus estimate of $6.35 by $0.59. Ameriprise Financial had a net margin of 17.91% and a return on equity of 70.64%. The firm had revenue of $3.62 billion during the quarter, compared to analysts’ expectations of $3.46 billion. During the same quarter last year, the business earned $6.15 earnings per share. The business’s revenue for the quarter was down 3.8% compared to the same quarter last year. As a group, analysts predict that Ameriprise Financial will post 30.69 earnings per share for the current fiscal year.

Ameriprise Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, February 28th. Stockholders of record on Friday, February 10th were given a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a dividend yield of 1.78%. The ex-dividend date of this dividend was Thursday, February 9th. Ameriprise Financial’s dividend payout ratio is currently 22.27%.

Insider Buying and Selling

In other Ameriprise Financial news, CEO William F. Truscott sold 11,480 shares of Ameriprise Financial stock in a transaction dated Monday, February 13th. The stock was sold at an average price of $355.33, for a total value of $4,079,188.40. Following the completion of the sale, the chief executive officer now owns 17,489 shares in the company, valued at approximately $6,214,366.37. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO William F. Truscott sold 11,483 shares of the stock in a transaction on Friday, January 27th. The stock was sold at an average price of $347.69, for a total value of $3,992,524.27. Following the transaction, the chief executive officer now directly owns 16,262 shares of the company’s stock, valued at approximately $5,654,134.78. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO William F. Truscott sold 11,480 shares of the company’s stock in a transaction dated Monday, February 13th. The stock was sold at an average price of $355.33, for a total value of $4,079,188.40. Following the sale, the chief executive officer now owns 17,489 shares of the company’s stock, valued at $6,214,366.37. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 75,738 shares of company stock worth $26,606,004. 1.00% of the stock is owned by company insiders.

Institutional Trading of Ameriprise Financial

A number of institutional investors have recently modified their holdings of AMP. Massachusetts Financial Services Co. MA grew its stake in Ameriprise Financial by 3.1% during the third quarter. Massachusetts Financial Services Co. MA now owns 123,272 shares of the financial services provider’s stock worth $31,059,000 after buying an additional 3,688 shares during the period. Greenleaf Trust boosted its position in shares of Ameriprise Financial by 38.1% in the third quarter. Greenleaf Trust now owns 4,551 shares of the financial services provider’s stock worth $1,147,000 after buying an additional 1,255 shares during the period. Fifth Third Bancorp grew its stake in shares of Ameriprise Financial by 3.2% in the third quarter. Fifth Third Bancorp now owns 5,776 shares of the financial services provider’s stock valued at $1,456,000 after buying an additional 181 shares in the last quarter. Moloney Securities Asset Management LLC purchased a new stake in shares of Ameriprise Financial during the 3rd quarter valued at about $209,000. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its position in Ameriprise Financial by 5.0% during the 2nd quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 41,093 shares of the financial services provider’s stock worth $9,766,000 after acquiring an additional 1,943 shares in the last quarter. Hedge funds and other institutional investors own 81.66% of the company’s stock.

Ameriprise Financial Company Profile

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Ameriprise Financial, Inc operates as a holding company. The firm provides financial planning, asset management and insurance services to individuals, businesses and institutions. It operates through the following business segments: Advice & Wealth Management, Asset Management, Retirement & Protection Solutions, and Corporate & Other.