Analysts Set Ameriprise Financial, Inc. (NYSE:AMP) PT at $528.75

Ameriprise Financial, Inc. (NYSE:AMP) has received an average recommendation of “Hold” from the ten brokerages that are covering the stock, Marketbeat reports. Two research analysts have rated the stock with a sell recommendation, four have assigned a hold recommendation, three have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $528.75.

Several equities analysts have weighed in on AMP shares. Royal Bank Of Canada lowered their target price on Ameriprise Financial from $601.00 to $550.00 and set an “outperform” rating on the stock in a research note on Monday, November 3rd. Morgan Stanley raised their price target on shares of Ameriprise Financial from $484.00 to $485.00 and gave the stock an “underweight” rating in a report on Monday, December 22nd. Argus dropped their price objective on shares of Ameriprise Financial from $568.00 to $554.00 and set a “buy” rating on the stock in a research note on Thursday, November 13th. Evercore ISI decreased their target price on shares of Ameriprise Financial from $587.00 to $570.00 and set an “in-line” rating for the company in a research note on Thursday, October 9th. Finally, BMO Capital Markets initiated coverage on shares of Ameriprise Financial in a research note on Friday, October 3rd. They issued a “market perform” rating and a $525.00 price target on the stock.

Insider Activity

In related news, Director Robert Francis Sharpe, Jr. sold 1,500 shares of the business’s stock in a transaction that occurred on Friday, November 21st. The stock was sold at an average price of $450.94, for a total value of $676,410.00. Following the completion of the sale, the director owned 7,500 shares of the company’s stock, valued at approximately $3,382,050. The trade was a 16.67% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.73% of the stock is currently owned by corporate insiders.

Institutional Trading of Ameriprise Financial

A number of institutional investors have recently added to or reduced their stakes in AMP. Knights of Columbus Asset Advisors LLC increased its position in shares of Ameriprise Financial by 4.2% during the 2nd quarter. Knights of Columbus Asset Advisors LLC now owns 16,735 shares of the financial services provider’s stock worth $8,932,000 after purchasing an additional 667 shares in the last quarter. NorthRock Partners LLC grew its stake in Ameriprise Financial by 8.9% during the second quarter. NorthRock Partners LLC now owns 10,955 shares of the financial services provider’s stock worth $5,847,000 after buying an additional 897 shares during the last quarter. Asset Management One Co. Ltd. increased its holdings in shares of Ameriprise Financial by 9.4% during the third quarter. Asset Management One Co. Ltd. now owns 46,084 shares of the financial services provider’s stock worth $22,639,000 after buying an additional 3,974 shares in the last quarter. Beutel Goodman & Co Ltd. raised its stake in shares of Ameriprise Financial by 18.0% in the second quarter. Beutel Goodman & Co Ltd. now owns 570,080 shares of the financial services provider’s stock valued at $304,268,000 after acquiring an additional 86,983 shares during the last quarter. Finally, Assenagon Asset Management S.A. boosted its holdings in shares of Ameriprise Financial by 40.0% in the 3rd quarter. Assenagon Asset Management S.A. now owns 131,903 shares of the financial services provider’s stock worth $64,797,000 after acquiring an additional 37,667 shares in the last quarter. 83.95% of the stock is currently owned by institutional investors and hedge funds.

Ameriprise Financial Trading Up 2.4%

NYSE AMP opened at $507.21 on Monday. The firm’s 50 day moving average price is $478.80 and its two-hundred day moving average price is $494.65. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.68 and a current ratio of 0.68. Ameriprise Financial has a twelve month low of $396.14 and a twelve month high of $582.05. The stock has a market cap of $47.12 billion, a price-to-earnings ratio of 13.91, a PEG ratio of 1.23 and a beta of 1.26.

Ameriprise Financial (NYSE:AMP) last issued its earnings results on Thursday, October 30th. The financial services provider reported $9.92 EPS for the quarter, topping the consensus estimate of $9.76 by $0.16. The business had revenue of $4.73 billion during the quarter, compared to analysts’ expectations of $4.51 billion. Ameriprise Financial had a return on equity of 64.97% and a net margin of 20.12%.Ameriprise Financial’s revenue was up 9.0% compared to the same quarter last year. During the same quarter last year, the firm posted $9.02 earnings per share. Equities analysts anticipate that Ameriprise Financial will post 38.64 EPS for the current year.

Ameriprise Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, November 24th. Stockholders of record on Monday, November 10th were paid a dividend of $1.60 per share. The ex-dividend date of this dividend was Monday, November 10th. This represents a $6.40 dividend on an annualized basis and a dividend yield of 1.3%. Ameriprise Financial’s dividend payout ratio (DPR) is 17.55%.

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.