Ameriprise Financial (NYSE:AMP) Rating Increased to Strong-Buy at Raymond James

Raymond James upgraded shares of Ameriprise Financial (NYSE:AMP) from a market perform rating to a strong-buy rating in a research report sent to investors on Monday, Marketbeat reports. The firm currently has $518.00 price objective on the financial services provider’s stock.

A number of other equities analysts have also recently commented on the company. UBS Group cut Ameriprise Financial from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $580.00 to $570.00 in a report on Monday, January 6th. Keefe, Bruyette & Woods raised their target price on shares of Ameriprise Financial from $560.00 to $570.00 and gave the stock a “market perform” rating in a research note on Monday, February 3rd. Royal Bank of Canada reiterated an “outperform” rating and issued a $625.00 price target on shares of Ameriprise Financial in a research note on Monday, February 3rd. Piper Sandler raised their price objective on shares of Ameriprise Financial from $415.00 to $442.00 and gave the stock an “underweight” rating in a research report on Friday, January 31st. Finally, Morgan Stanley upped their target price on Ameriprise Financial from $507.00 to $542.00 and gave the company an “equal weight” rating in a research report on Tuesday, March 4th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $515.20.

Ameriprise Financial Stock Up 1.2 %

NYSE:AMP opened at $427.37 on Monday. Ameriprise Financial has a twelve month low of $385.74 and a twelve month high of $582.05. The firm has a market capitalization of $41.08 billion, a price-to-earnings ratio of 12.93, a price-to-earnings-growth ratio of 1.15 and a beta of 1.23. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 1.01. The stock’s 50 day moving average price is $512.78 and its two-hundred day moving average price is $524.26.

Ameriprise Financial (NYSE:AMP) last posted its quarterly earnings results on Wednesday, January 29th. The financial services provider reported $9.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $9.16 by $0.20. Ameriprise Financial had a net margin of 19.70% and a return on equity of 69.35%. Equities research analysts expect that Ameriprise Financial will post 38.64 earnings per share for the current fiscal year.

Ameriprise Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Monday, February 10th were issued a $1.48 dividend. The ex-dividend date of this dividend was Monday, February 10th. This represents a $5.92 annualized dividend and a yield of 1.39%. Ameriprise Financial’s dividend payout ratio is presently 17.91%.

Insider Transactions at Ameriprise Financial

In other news, insider Joseph Edward Sweeney sold 4,636 shares of the business’s stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $539.07, for a total value of $2,499,128.52. Following the completion of the transaction, the insider now directly owns 7,237 shares in the company, valued at approximately $3,901,249.59. The trade was a 39.05 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Robert Francis Sharpe, Jr. sold 1,000 shares of the stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $523.12, for a total transaction of $523,120.00. Following the sale, the director now owns 10,000 shares in the company, valued at $5,231,200. This represents a 9.09 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 11,636 shares of company stock valued at $6,263,989. 0.73% of the stock is owned by corporate insiders.

Institutional Trading of Ameriprise Financial

Several institutional investors and hedge funds have recently modified their holdings of the business. GAMMA Investing LLC lifted its holdings in shares of Ameriprise Financial by 49,248.9% in the first quarter. GAMMA Investing LLC now owns 2,114,108 shares of the financial services provider’s stock worth $1,023,461,000 after acquiring an additional 2,109,824 shares during the last quarter. Quent Capital LLC grew its holdings in shares of Ameriprise Financial by 1.8% during the 1st quarter. Quent Capital LLC now owns 1,874 shares of the financial services provider’s stock valued at $907,000 after purchasing an additional 33 shares during the last quarter. Moody National Bank Trust Division increased its position in Ameriprise Financial by 10.6% during the 1st quarter. Moody National Bank Trust Division now owns 553 shares of the financial services provider’s stock worth $268,000 after purchasing an additional 53 shares in the last quarter. Versant Capital Management Inc lifted its stake in Ameriprise Financial by 48.3% in the 1st quarter. Versant Capital Management Inc now owns 212 shares of the financial services provider’s stock valued at $103,000 after purchasing an additional 69 shares during the last quarter. Finally, Boston Common Asset Management LLC boosted its position in Ameriprise Financial by 32.1% in the first quarter. Boston Common Asset Management LLC now owns 39,615 shares of the financial services provider’s stock valued at $19,178,000 after buying an additional 9,616 shares in the last quarter. 83.95% of the stock is currently owned by institutional investors.

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.