Ameriprise Financial (NYSE:AMP) Price Target Raised to $485.00

Ameriprise Financial (NYSE:AMP) had its price objective hoisted by Morgan Stanley from $484.00 to $485.00 in a report issued on Monday morning,Benzinga reports. They currently have an underweight rating on the financial services provider’s stock.

Several other equities analysts also recently issued reports on AMP. BMO Capital Markets began coverage on shares of Ameriprise Financial in a report on Friday, October 3rd. They set a “market perform” rating and a $525.00 price objective on the stock. Argus dropped their target price on shares of Ameriprise Financial from $568.00 to $554.00 and set a “buy” rating on the stock in a research report on Thursday, November 13th. Keefe, Bruyette & Woods cut their price target on shares of Ameriprise Financial from $550.00 to $530.00 and set a “market perform” rating on the stock in a research note on Monday, November 3rd. Evercore ISI decreased their price target on shares of Ameriprise Financial from $587.00 to $570.00 and set an “in-line” rating for the company in a report on Thursday, October 9th. Finally, Royal Bank Of Canada lowered their price objective on shares of Ameriprise Financial from $601.00 to $550.00 and set an “outperform” rating for the company in a research note on Monday, November 3rd. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $533.33.

Ameriprise Financial Stock Performance

Shares of AMP opened at $500.97 on Monday. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 0.88. The firm has a market cap of $46.55 billion, a PE ratio of 13.74, a P/E/G ratio of 1.33 and a beta of 1.26. Ameriprise Financial has a 12 month low of $396.14 and a 12 month high of $582.05. The stock has a fifty day moving average price of $469.31 and a 200-day moving average price of $496.16.

Ameriprise Financial (NYSE:AMP) last announced its earnings results on Thursday, October 30th. The financial services provider reported $9.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $9.76 by $0.16. Ameriprise Financial had a return on equity of 64.97% and a net margin of 20.12%.The company had revenue of $4.73 billion for the quarter, compared to analyst estimates of $4.51 billion. During the same period in the prior year, the company posted $9.02 EPS. The firm’s quarterly revenue was up 9.0% compared to the same quarter last year. Equities research analysts predict that Ameriprise Financial will post 38.64 earnings per share for the current fiscal year.

Ameriprise Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 24th. Stockholders of record on Monday, November 10th were paid 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 dividend payout ratio is presently 17.55%.

Insider Transactions at Ameriprise Financial

In related news, Director Robert Francis Sharpe, Jr. sold 1,500 shares of the business’s stock in a transaction 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 completion of the transaction, the director directly owned 7,500 shares in the company, valued at $3,382,050. The trade was a 16.67% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.73% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Ameriprise Financial

Several institutional investors and hedge funds have recently modified their holdings of AMP. Trust Co. of Vermont raised its position in Ameriprise Financial by 0.6% during the second quarter. Trust Co. of Vermont now owns 3,031 shares of the financial services provider’s stock valued at $1,618,000 after acquiring an additional 19 shares in the last quarter. Plancorp LLC grew its stake in shares of Ameriprise Financial by 4.8% during the 1st quarter. Plancorp LLC now owns 441 shares of the financial services provider’s stock worth $213,000 after purchasing an additional 20 shares during the period. Old Port Advisors increased its holdings in shares of Ameriprise Financial by 1.5% during the 2nd quarter. Old Port Advisors now owns 1,381 shares of the financial services provider’s stock valued at $737,000 after purchasing an additional 20 shares in the last quarter. Linden Thomas Advisory Services LLC lifted its stake in shares of Ameriprise Financial by 0.5% in the 2nd quarter. Linden Thomas Advisory Services LLC now owns 4,096 shares of the financial services provider’s stock valued at $2,186,000 after purchasing an additional 20 shares during the period. Finally, Pinnacle Wealth Management Advisory Group LLC boosted its holdings in Ameriprise Financial by 2.9% during the second quarter. Pinnacle Wealth Management Advisory Group LLC now owns 733 shares of the financial services provider’s stock worth $391,000 after buying an additional 21 shares in the last quarter. Institutional investors and hedge funds own 83.95% of the company’s stock.

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.