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

Shares of Ameriprise Financial, Inc. (NYSE:AMP) have received an average rating of “Hold” from the eight ratings firms that are covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, four have given a hold recommendation and three have issued a buy recommendation on the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $449.57.

Several analysts have commented on the stock. Raymond James assumed coverage on shares of Ameriprise Financial in a research note on Thursday, March 21st. They issued a “market perform” rating on the stock. Piper Sandler upped their target price on shares of Ameriprise Financial from $360.00 to $392.00 and gave the company an “underweight” rating in a research report on Friday, April 5th. Evercore ISI upped their target price on shares of Ameriprise Financial from $400.00 to $445.00 and gave the company an “in-line” rating in a research report on Thursday, April 11th. The Goldman Sachs Group upped their target price on shares of Ameriprise Financial from $437.00 to $488.00 and gave the company a “buy” rating in a research report on Wednesday, March 27th. Finally, UBS Group upped their target price on shares of Ameriprise Financial from $440.00 to $445.00 and gave the company a “buy” rating in a research report on Thursday, January 25th.

Insiders Place Their Bets

In other Ameriprise Financial news, Director Robert Francis Sharpe, Jr. sold 4,000 shares of the company’s stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $386.60, for a total value of $1,546,400.00. Following the transaction, the director now directly owns 12,500 shares in the company, valued at approximately $4,832,500. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Ameriprise Financial news, Director Robert Francis Sharpe, Jr. sold 4,000 shares of the company’s stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $386.60, for a total value of $1,546,400.00. Following the transaction, the director now directly owns 12,500 shares in the company, valued at approximately $4,832,500. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Gumer Alvero sold 1,652 shares of the company’s stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $437.00, for a total transaction of $721,924.00. Following the completion of the transaction, the insider now owns 6,994 shares in the company, valued at $3,056,378. The disclosure for this sale can be found here. Insiders have sold 79,472 shares of company stock worth $31,779,805 in the last three months. Corporate insiders own 0.73% of the company’s stock.

Institutional Investors Weigh In On Ameriprise Financial

Several hedge funds have recently modified their holdings of the business. Pinnacle Associates Ltd. lifted its position in shares of Ameriprise Financial by 26.3% in the 1st quarter. Pinnacle Associates Ltd. now owns 1,445 shares of the financial services provider’s stock worth $633,000 after purchasing an additional 301 shares during the period. YHB Investment Advisors Inc. purchased a new stake in shares of Ameriprise Financial in the 1st quarter worth approximately $214,000. SYSTM Wealth Solutions LLC lifted its position in shares of Ameriprise Financial by 12.0% in the 1st quarter. SYSTM Wealth Solutions LLC now owns 15,329 shares of the financial services provider’s stock worth $6,721,000 after purchasing an additional 1,646 shares during the period. Mesirow Financial Investment Management Inc. purchased a new stake in shares of Ameriprise Financial in the 1st quarter worth approximately $1,363,000. Finally, Equitable Trust Co. lifted its position in shares of Ameriprise Financial by 5.9% in the 1st quarter. Equitable Trust Co. now owns 14,292 shares of the financial services provider’s stock worth $6,266,000 after purchasing an additional 800 shares during the period. Hedge funds and other institutional investors own 83.95% of the company’s stock.

Ameriprise Financial Stock Down 0.3 %

AMP opened at $409.81 on Friday. 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 has a fifty-two week low of $279.85 and a fifty-two week high of $440.67. The firm’s fifty day moving average is $418.65 and its 200 day moving average is $380.77. The stock has a market cap of $41.06 billion, a price-to-earnings ratio of 13.95, a price-to-earnings-growth ratio of 0.68 and a beta of 1.36.

Ameriprise Financial (NYSE:AMP) last announced its quarterly earnings results on Wednesday, April 24th. The financial services provider reported $8.39 EPS for the quarter, topping the consensus estimate of $8.10 by $0.29. The business had revenue of $4.15 billion for the quarter, compared to analysts’ expectations of $4.15 billion. Ameriprise Financial had a net margin of 19.42% and a return on equity of 75.97%. The business’s quarterly revenue was up 10.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $7.25 EPS. On average, sell-side analysts forecast that Ameriprise Financial will post 34.58 earnings per share for the current fiscal year.

Ameriprise Financial Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 17th. Shareholders of record on Monday, May 6th will be paid a $1.48 dividend. This is an increase from Ameriprise Financial’s previous quarterly dividend of $1.35. This represents a $5.92 dividend on an annualized basis and a yield of 1.44%. The ex-dividend date is Friday, May 3rd. Ameriprise Financial’s dividend payout ratio is currently 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.