Ameriprise Financial, Inc. (NYSE:AMP) Receives $510.44 Consensus PT from Analysts

Ameriprise Financial, Inc. (NYSE:AMP) has earned an average rating of “Hold” from the ten research firms that are presently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, six have issued a hold recommendation and three have given a buy recommendation to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $510.44.

AMP has been the subject of several research analyst reports. Royal Bank of Canada restated an “outperform” rating and issued a $625.00 price objective on shares of Ameriprise Financial in a research note on Monday, February 3rd. Keefe, Bruyette & Woods lifted their price target on Ameriprise Financial from $560.00 to $570.00 and gave the company a “market perform” rating in a research report on Monday, February 3rd. UBS Group cut Ameriprise Financial from a “buy” rating to a “neutral” rating and reduced their price target for the company from $580.00 to $570.00 in a research report on Monday, January 6th. Finally, Piper Sandler lifted their price target on Ameriprise Financial from $415.00 to $442.00 and gave the company an “underweight” rating in a research report on Friday, January 31st.

Insider Buying and Selling at Ameriprise Financial

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

Institutional Trading of Ameriprise Financial

A number of institutional investors have recently made changes to their positions in AMP. Howard Capital Management Group LLC boosted its stake in shares of Ameriprise Financial by 11.1% in the third quarter. Howard Capital Management Group LLC now owns 1,787 shares of the financial services provider’s stock worth $840,000 after acquiring an additional 178 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its stake in shares of Ameriprise Financial by 83.5% in the third quarter. Allspring Global Investments Holdings LLC now owns 70,364 shares of the financial services provider’s stock worth $33,058,000 after acquiring an additional 32,025 shares during the last quarter. Foundations Investment Advisors LLC acquired a new stake in shares of Ameriprise Financial in the third quarter worth approximately $206,000. Sequoia Financial Advisors LLC boosted its stake in shares of Ameriprise Financial by 55.0% in the third quarter. Sequoia Financial Advisors LLC now owns 5,503 shares of the financial services provider’s stock worth $2,586,000 after acquiring an additional 1,952 shares during the last quarter. Finally, Eastern Bank purchased a new position in Ameriprise Financial during the third quarter worth approximately $657,000. 83.95% of the stock is owned by institutional investors and hedge funds.

Ameriprise Financial Trading Down 2.0 %

Shares of NYSE:AMP opened at $530.18 on Friday. Ameriprise Financial has a 52-week low of $385.74 and a 52-week high of $582.05. The stock has a market cap of $51.43 billion, a price-to-earnings ratio of 16.04, a PEG ratio of 1.17 and a beta of 1.36. The company has a quick ratio of 0.65, a current ratio of 0.59 and a debt-to-equity ratio of 1.01. The business has a 50-day moving average price of $540.50 and a 200-day moving average price of $511.27.

Ameriprise Financial (NYSE:AMP) last announced its quarterly earnings data 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 return on equity of 69.35% and a net margin of 19.70%. Equities analysts predict that Ameriprise Financial will post 38.64 EPS for the current year.

Ameriprise Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Monday, February 10th will be issued a $1.48 dividend. This represents a $5.92 annualized dividend and a yield of 1.12%. The ex-dividend date of this dividend is Monday, February 10th. Ameriprise Financial’s payout ratio is currently 17.91%.

Ameriprise Financial Company Profile

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.