Shares of Ameriprise Financial, Inc. (NYSE:AMP – Get Free Report) have earned an average recommendation of “Hold” from the nine analysts that are currently covering the stock, MarketBeat reports. One analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation, three have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $517.44.
AMP has been the subject of a number of analyst reports. Keefe, Bruyette & Woods cut their price target on Ameriprise Financial from $570.00 to $520.00 and set a “market perform” rating for the company in a report on Wednesday. UBS Group cut shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $580.00 to $570.00 in a report on Monday, January 6th. Piper Sandler raised their price target on Ameriprise Financial from $415.00 to $442.00 and gave the company an “underweight” rating in a report on Friday, January 31st. Royal Bank of Canada reiterated an “outperform” rating and set a $625.00 target price on shares of Ameriprise Financial in a research report on Monday, February 3rd. Finally, Morgan Stanley lifted their price objective on shares of Ameriprise Financial from $507.00 to $542.00 and gave the stock an “equal weight” rating in a report on Tuesday, March 4th.
Read Our Latest Stock Report on Ameriprise Financial
Ameriprise Financial Stock Up 2.8 %
Ameriprise Financial stock opened at $469.53 on Friday. 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 company has a market capitalization of $45.13 billion, a P/E ratio of 14.20, a P/E/G ratio of 1.15 and a beta of 1.23. The firm has a 50 day moving average price of $501.06 and a 200-day moving average price of $523.06. Ameriprise Financial has a twelve month low of $385.74 and a twelve month high of $582.05.
Ameriprise Financial (NYSE:AMP – Get Free Report) last posted its quarterly earnings results on Wednesday, January 29th. The financial services provider reported $9.36 earnings per share 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%. As a group, equities analysts predict that Ameriprise Financial will post 38.64 EPS for the current year.
Ameriprise Financial Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Stockholders 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 dividend yield of 1.26%. Ameriprise Financial’s dividend payout ratio is currently 17.91%.
Insider Buying and Selling
In other news, CEO William F. Truscott sold 6,000 shares of the business’s stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $540.29, for a total transaction of $3,241,740.00. Following the transaction, the chief executive officer now directly owns 14,023 shares of the company’s stock, valued at approximately $7,576,486.67. The trade was a 29.97 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Joseph Edward Sweeney sold 4,636 shares of the business’s stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $539.07, for a total transaction of $2,499,128.52. Following 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 11,636 shares of company stock worth $6,263,989 in the last ninety days. 0.73% of the stock is owned by insiders.
Hedge Funds Weigh In On Ameriprise Financial
Hedge funds and other institutional investors have recently modified their holdings of the stock. Gateway Investment Advisers LLC grew its stake in Ameriprise Financial by 5.3% in the first quarter. Gateway Investment Advisers LLC now owns 2,181 shares of the financial services provider’s stock worth $1,056,000 after purchasing an additional 110 shares during the period. Procyon Advisors LLC grew its stake in shares of Ameriprise Financial by 5.9% in the first quarter. Procyon Advisors LLC now owns 6,558 shares of the financial services provider’s stock worth $3,175,000 after acquiring an additional 366 shares during the last quarter. Vest Financial LLC bought a new position in Ameriprise Financial in the 1st quarter worth about $28,142,000. Arthur M. Cohen & Associates LLC increased its stake in Ameriprise Financial by 3.9% during the 1st quarter. Arthur M. Cohen & Associates LLC now owns 1,184 shares of the financial services provider’s stock valued at $573,000 after purchasing an additional 44 shares in the last quarter. Finally, Apella Capital LLC lifted its stake in shares of Ameriprise Financial by 4.1% in the first quarter. Apella Capital LLC now owns 581 shares of the financial services provider’s stock worth $275,000 after buying an additional 23 shares in the last quarter. Hedge funds and other institutional investors own 83.95% of the company’s stock.
Ameriprise Financial Company Profile
(Get Free Report
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.
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