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

Ameriprise Financial, Inc. (NYSE:AMP) has earned a consensus rating of “Hold” from the eleven ratings firms that are currently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, five have assigned a hold rating, four have assigned a buy rating and one has issued a strong buy rating on the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $555.6667.

A number of brokerages have commented on AMP. Morgan Stanley increased their target price on Ameriprise Financial from $484.00 to $485.00 and gave the company an “underweight” rating in a report on Monday, December 22nd. Royal Bank Of Canada reissued an “outperform” rating and issued a $605.00 price target (up from $580.00) on shares of Ameriprise Financial in a report on Monday, February 2nd. Piper Sandler raised Ameriprise Financial from an “underweight” rating to a “neutral” rating and increased their price objective for the company from $434.00 to $530.00 in a research note on Friday, January 30th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Ameriprise Financial in a research report on Monday, December 29th. Finally, Jefferies Financial Group boosted their target price on shares of Ameriprise Financial from $600.00 to $620.00 and gave the company a “buy” rating in a research note on Monday, February 2nd.

Ameriprise Financial Stock Down 1.7%

Shares of NYSE AMP opened at $437.03 on Friday. Ameriprise Financial has a 12-month low of $396.14 and a 12-month high of $550.18. The company has a market capitalization of $39.85 billion, a PE ratio of 12.02, a price-to-earnings-growth ratio of 1.03 and a beta of 1.27. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.68 and a quick ratio of 0.68. The firm’s 50-day moving average is $474.82 and its two-hundred day moving average is $479.09.

Ameriprise Financial (NYSE:AMP) last issued its quarterly earnings data on Thursday, January 29th. The financial services provider reported $10.83 earnings per share for the quarter, topping analysts’ consensus estimates of $10.33 by $0.50. Ameriprise Financial had a net margin of 19.28% and a return on equity of 63.04%. The business had revenue of $4.92 billion during the quarter, compared to analysts’ expectations of $4.75 billion. During the same period last year, the company posted $9.54 EPS. The company’s revenue was up 10.2% on a year-over-year basis. Equities analysts anticipate that Ameriprise Financial will post 38.64 EPS for the current fiscal year.

Ameriprise Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 27th. Stockholders of record on Monday, February 9th were issued a dividend of $1.60 per share. The ex-dividend date was Monday, February 9th. This represents a $6.40 dividend on an annualized basis and a dividend yield of 1.5%. Ameriprise Financial’s payout ratio is 17.60%.

Insider Activity

In other Ameriprise Financial news, CEO William F. Truscott sold 5,000 shares of Ameriprise Financial stock in a transaction that occurred on Tuesday, February 10th. The shares were sold at an average price of $532.08, for a total value of $2,660,400.00. Following the completion of the sale, the chief executive officer directly owned 12,149 shares of the company’s stock, valued at approximately $6,464,239.92. The trade was a 29.16% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Gumer Alvero sold 4,658 shares of the business’s stock in a transaction on Monday, February 9th. The shares were sold at an average price of $542.88, for a total value of $2,528,735.04. Following the completion of the transaction, the insider owned 4,621 shares of the company’s stock, valued at $2,508,648.48. This trade represents a 50.20% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 16,658 shares of company stock valued at $8,998,675 over the last 90 days. Insiders own 0.73% of the company’s stock.

Institutional Investors Weigh In On Ameriprise Financial

Hedge funds have recently made changes to their positions in the business. State Street Corp grew its position in shares of Ameriprise Financial by 0.4% in the third quarter. State Street Corp now owns 4,420,072 shares of the financial services provider’s stock valued at $2,171,360,000 after purchasing an additional 18,879 shares during the period. Norges Bank purchased a new position in Ameriprise Financial during the fourth quarter worth about $742,438,000. Boston Partners boosted its stake in Ameriprise Financial by 1.1% in the 3rd quarter. Boston Partners now owns 1,193,048 shares of the financial services provider’s stock worth $586,083,000 after buying an additional 13,172 shares during the last quarter. AQR Capital Management LLC boosted its stake in Ameriprise Financial by 84.2% in the 4th quarter. AQR Capital Management LLC now owns 1,085,889 shares of the financial services provider’s stock worth $532,455,000 after buying an additional 496,319 shares during the last quarter. Finally, Federated Hermes Inc. grew its holdings in Ameriprise Financial by 0.7% in the 4th quarter. Federated Hermes Inc. now owns 973,097 shares of the financial services provider’s stock valued at $477,148,000 after buying an additional 6,934 shares during the period. Institutional investors and hedge funds own 83.95% of the company’s stock.

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.