Ameriprise Financial, Inc. (NYSE:AMP) Receives $555.33 Average Price Target from Analysts

Ameriprise Financial, Inc. (NYSE:AMP) has been given a consensus rating of “Moderate Buy” by the eleven analysts that are covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, four have given a hold recommendation, four have issued a buy recommendation and two have given a strong buy recommendation to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $555.3333.

A number of analysts recently commented on AMP shares. Keefe, Bruyette & Woods lifted their price target on Ameriprise Financial from $515.00 to $545.00 and gave the stock a “market perform” rating in a report on Friday, July 24th. Weiss Ratings upgraded Ameriprise Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, July 17th. Zacks Research raised Ameriprise Financial from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 27th. Piper Sandler boosted their price target on shares of Ameriprise Financial from $471.00 to $518.00 and gave the stock a “neutral” rating in a report on Monday, July 13th. Finally, BMO Capital Markets increased their price target on shares of Ameriprise Financial from $470.00 to $490.00 and gave the company a “market perform” rating in a research report on Friday, April 24th.

Insider Activity

In other news, CFO Walter Stanley Berman sold 11,012 shares of the firm’s stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $548.95, for a total transaction of $6,045,037.40. Following the completion of the sale, the chief financial officer owned 5,609 shares in the company, valued at $3,079,060.55. This trade represents a 66.25% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Gerard P. Smyth sold 6,255 shares of the company’s stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $472.52, for a total value of $2,955,612.60. Following the completion of the transaction, the executive vice president owned 6,103 shares in the company, valued at approximately $2,883,789.56. The trade was a 50.61% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 33,371 shares of company stock valued at $17,668,423 in the last three months. Company insiders own 0.60% of the company’s stock.

Institutional Investors Weigh In On Ameriprise Financial

Large investors have recently added to or reduced their stakes in the company. SouthState Bank Corp increased its stake in shares of Ameriprise Financial by 78.6% in the fourth quarter. SouthState Bank Corp now owns 50 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 22 shares in the last quarter. Cassaday & Co Wealth Management LLC purchased a new stake in shares of Ameriprise Financial during the 1st quarter valued at approximately $28,000. University of Texas Texas AM Investment Management Co. purchased a new stake in shares of Ameriprise Financial during the 2nd quarter valued at approximately $28,000. Ares Financial Consulting LLC bought a new position in Ameriprise Financial in the 4th quarter worth approximately $32,000. Finally, Prosperity Bancshares Inc bought a new position in Ameriprise Financial in the 4th quarter worth approximately $33,000. Hedge funds and other institutional investors own 83.95% of the company’s stock.

Ameriprise Financial Trading Down 0.2%

NYSE:AMP opened at $559.70 on Friday. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.66 and a current ratio of 0.71. The firm has a market cap of $50.32 billion, a price-to-earnings ratio of 13.50, a price-to-earnings-growth ratio of 0.75 and a beta of 1.14. Ameriprise Financial has a 52 week low of $422.37 and a 52 week high of $565.05. The firm has a 50-day moving average price of $493.30 and a two-hundred day moving average price of $477.56.

Ameriprise Financial (NYSE:AMP) last announced its earnings results on Thursday, July 23rd. The financial services provider reported $11.07 earnings per share for the quarter, topping analysts’ consensus estimates of $10.81 by $0.26. The firm had revenue of $4.90 billion for the quarter, compared to the consensus estimate of $4.87 billion. Ameriprise Financial had a return on equity of 64.19% and a net margin of 20.24%.The company’s revenue was up 11.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $9.11 EPS. On average, equities analysts expect that Ameriprise Financial will post 46.12 earnings per share for the current fiscal year.

Ameriprise Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 21st. Shareholders of record on Monday, August 3rd will be paid a $1.70 dividend. This represents a $6.80 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date is Monday, August 3rd. Ameriprise Financial’s payout ratio is presently 16.40%.

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.