Ameriprise Financial, Inc. (NYSE:AMP) Given Average Recommendation of “Hold” by Analysts

Shares of Ameriprise Financial, Inc. (NYSE:AMP) have received an average recommendation of “Hold” from the ten analysts that are presently covering the company, MarketBeat reports. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $528.75.

Several analysts have issued reports on AMP shares. Morgan Stanley boosted their target price on Ameriprise Financial from $484.00 to $485.00 and gave the company an “underweight” rating in a research note on Monday, December 22nd. Weiss Ratings reissued a “buy (b-)” rating on shares of Ameriprise Financial in a report on Monday, December 29th. Royal Bank Of Canada dropped their price objective on shares of Ameriprise Financial from $601.00 to $550.00 and set an “outperform” rating on the stock in a report on Monday, November 3rd. Evercore ISI cut their target price on shares of Ameriprise Financial from $587.00 to $570.00 and set an “in-line” rating for the company in a research report on Thursday, October 9th. Finally, BMO Capital Markets started coverage on shares of Ameriprise Financial in a research note on Friday, October 3rd. They issued a “market perform” rating and a $525.00 target price for the company.

Insider Activity at Ameriprise Financial

In other news, Director Robert Francis Sharpe, Jr. sold 1,500 shares of the firm’s stock in a transaction on Friday, November 21st. The stock was sold at an average price of $450.94, for a total value of $676,410.00. Following the completion of the transaction, the director directly owned 7,500 shares of the company’s stock, valued at $3,382,050. This trade represents a 16.67% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.73% of the stock is owned by insiders.

Institutional Trading of Ameriprise Financial

Institutional investors have recently added to or reduced their stakes in the stock. Whipplewood Advisors LLC grew its holdings in Ameriprise Financial by 71.0% during the 2nd quarter. Whipplewood Advisors LLC now owns 53 shares of the financial services provider’s stock valued at $28,000 after buying an additional 22 shares in the last quarter. Salomon & Ludwin LLC boosted its position in shares of Ameriprise Financial by 115.4% in the second quarter. Salomon & Ludwin LLC now owns 56 shares of the financial services provider’s stock valued at $30,000 after acquiring an additional 30 shares during the period. Holos Integrated Wealth LLC purchased a new position in Ameriprise Financial during the fourth quarter valued at approximately $30,000. Winnow Wealth LLC purchased a new position in Ameriprise Financial during the second quarter valued at approximately $32,000. Finally, Heartwood Wealth Advisors LLC bought a new stake in Ameriprise Financial during the 3rd quarter worth approximately $32,000. Hedge funds and other institutional investors own 83.95% of the company’s stock.

Ameriprise Financial Stock Up 0.2%

Ameriprise Financial stock opened at $509.02 on Monday. The firm has a 50 day moving average price of $480.76 and a 200-day moving average price of $493.92. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 0.88. Ameriprise Financial has a twelve month low of $396.14 and a twelve month high of $582.05. The company has a market capitalization of $47.29 billion, a P/E ratio of 13.96, a P/E/G ratio of 1.32 and a beta of 1.26.

Ameriprise Financial (NYSE:AMP) last posted its quarterly earnings results on Thursday, October 30th. The financial services provider reported $9.92 EPS for the quarter, topping analysts’ consensus estimates of $9.76 by $0.16. Ameriprise Financial had a net margin of 20.12% and a return on equity of 64.97%. The company had revenue of $4.73 billion for the quarter, compared to analysts’ expectations of $4.51 billion. During the same quarter in the previous year, the firm posted $9.02 EPS. Ameriprise Financial’s revenue was up 9.0% on a year-over-year basis. As a group, equities analysts predict that Ameriprise Financial will post 38.64 EPS for the current year.

Ameriprise Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, November 24th. Shareholders of record on Monday, November 10th were issued a dividend of $1.60 per share. The ex-dividend date of this dividend was Monday, November 10th. This represents a $6.40 dividend on an annualized basis and a yield of 1.3%. Ameriprise Financial’s payout ratio is presently 17.55%.

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.