Brokerages Set Ameriprise Financial, Inc. (NYSE:AMP) PT at $450.88

Ameriprise Financial, Inc. (NYSE:AMP) has been assigned an average rating of “Hold” from the nine research firms that are presently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and four have given a buy recommendation to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $450.88.

AMP has been the subject of several recent research reports. Piper Sandler lifted their price objective on Ameriprise Financial from $360.00 to $392.00 and gave the stock an “underweight” rating in a report on Friday, April 5th. The Goldman Sachs Group lifted their price objective on Ameriprise Financial from $437.00 to $488.00 and gave the stock a “buy” rating in a report on Wednesday, March 27th. Raymond James assumed coverage on Ameriprise Financial in a report on Thursday, March 21st. They set a “market perform” rating for the company. Keefe, Bruyette & Woods lifted their target price on Ameriprise Financial from $420.00 to $460.00 and gave the company a “market perform” rating in a report on Wednesday, April 10th. Finally, Royal Bank of Canada lifted their target price on Ameriprise Financial from $470.00 to $480.00 and gave the company an “outperform” rating in a report on Wednesday, April 24th.

Insider Transactions at Ameriprise Financial

In other news, CEO William F. Truscott sold 8,000 shares of the business’s stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $412.05, for a total transaction of $3,296,400.00. Following the completion of the transaction, the chief executive officer now owns 13,134 shares of the company’s stock, valued at $5,411,864.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO William F. Truscott sold 8,000 shares of the business’s stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $412.05, for a total transaction of $3,296,400.00. Following the completion of the transaction, the chief executive officer now owns 13,134 shares of the company’s stock, valued at $5,411,864.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Dawn M. Brockman sold 224 shares of the business’s stock in a transaction that occurred on Tuesday, March 26th. The stock was sold at an average price of $434.13, for a total value of $97,245.12. Following the completion of the sale, the senior vice president now owns 1,288 shares of the company’s stock, valued at approximately $559,159.44. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 11,376 shares of company stock valued at $4,772,674. 0.73% of the stock is owned by corporate insiders.

Institutional Trading of Ameriprise Financial

Hedge funds have recently bought and sold shares of the company. Retirement Group LLC bought a new stake in Ameriprise Financial in the 1st quarter worth approximately $25,000. Redmont Wealth Advisors LLC bought a new stake in Ameriprise Financial in the 1st quarter worth approximately $28,000. Sound Income Strategies LLC bought a new stake in Ameriprise Financial in the 1st quarter worth approximately $32,000. Annapolis Financial Services LLC lifted its position in Ameriprise Financial by 928.6% in the 1st quarter. Annapolis Financial Services LLC now owns 72 shares of the financial services provider’s stock worth $32,000 after buying an additional 65 shares during the last quarter. Finally, Turtle Creek Wealth Advisors LLC bought a new stake in Ameriprise Financial in the fourth quarter valued at approximately $34,000. Institutional investors own 83.95% of the company’s stock.

Ameriprise Financial Trading Up 1.6 %

Shares of AMP opened at $440.97 on Wednesday. The business has a 50-day moving average of $426.41 and a 200 day moving average of $396.52. Ameriprise Financial has a fifty-two week low of $292.65 and a fifty-two week high of $442.09. The firm has a market cap of $43.80 billion, a P/E ratio of 15.01, a price-to-earnings-growth ratio of 0.75 and a beta of 1.35. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.56 and a current ratio of 0.56.

Ameriprise Financial (NYSE:AMP) last announced its quarterly earnings data on Wednesday, April 24th. The financial services provider reported $8.39 earnings per share for the quarter, topping the consensus estimate of $8.10 by $0.29. Ameriprise Financial had a return on equity of 75.97% and a net margin of 19.42%. The company had revenue of $4.15 billion during the quarter, compared to analyst estimates of $4.15 billion. During the same quarter last year, the firm posted $7.25 EPS. The firm’s revenue for the quarter was up 10.8% on a year-over-year basis. As a group, research analysts forecast that Ameriprise Financial will post 34.93 EPS for the current year.

Ameriprise Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 17th. Stockholders of record on Monday, May 6th were issued a dividend of $1.48 per share. This is a positive change from Ameriprise Financial’s previous quarterly dividend of $1.35. The ex-dividend date of this dividend was Friday, May 3rd. This represents a $5.92 annualized dividend and a dividend yield of 1.34%. Ameriprise Financial’s payout ratio is presently 20.15%.

About Ameriprise Financial

Ameriprise Financial, Inc, together with its subsidiaries, provides various financial products and services to individual and institutional clients in the United States and internationally. It operates through four segments: Advice & Wealth Management, Asset Management, Retirement & Protection Solutions, and Corporate & Other.