Brokerages Set Ameriprise Financial, Inc. (NYSE:AMP) PT at $555.67

Ameriprise Financial, Inc. (NYSE:AMP) has been assigned an average rating of “Hold” from the eleven brokerages that are covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, five have given a hold recommendation, four have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $555.6667.

AMP has been the topic of several research analyst reports. Raymond James Financial set a $582.00 price target on Ameriprise Financial and gave the company a “strong-buy” rating in a research report on Wednesday, February 11th. BMO Capital Markets reissued a “market perform” rating on shares of Ameriprise Financial in a research report on Tuesday, March 3rd. Weiss Ratings restated a “buy (b-)” rating on shares of Ameriprise Financial in a research note on Monday, December 29th. Morgan Stanley raised their target price on Ameriprise Financial from $484.00 to $485.00 and gave the company an “underweight” rating in a report on Monday, December 22nd. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $605.00 price target (up from $580.00) on shares of Ameriprise Financial in a research report on Monday, February 2nd.

Ameriprise Financial Price Performance

NYSE AMP opened at $437.40 on Friday. Ameriprise Financial has a 1 year low of $396.14 and a 1 year high of $550.18. The company has a fifty day simple moving average of $477.13 and a 200 day simple moving average of $479.77. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 0.86. The company has a market cap of $39.88 billion, a P/E ratio of 12.03, a P/E/G ratio of 1.01 and a beta of 1.27.

Ameriprise Financial (NYSE:AMP) last announced its earnings results on Thursday, January 29th. The financial services provider reported $10.83 EPS for the quarter, topping the consensus estimate of $10.33 by $0.50. The firm had revenue of $4.92 billion for the quarter, compared to the consensus estimate of $4.75 billion. Ameriprise Financial had a net margin of 19.28% and a return on equity of 63.04%. The business’s quarterly revenue was up 10.2% on a year-over-year basis. During the same quarter last year, the firm posted $9.54 EPS. On average, sell-side analysts predict that Ameriprise Financial will post 38.64 EPS for the current year.

Ameriprise Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 27th. Stockholders of record on Monday, February 9th were paid a $1.60 dividend. The ex-dividend date was Monday, February 9th. This represents a $6.40 annualized dividend and a dividend yield of 1.5%. Ameriprise Financial’s dividend payout ratio (DPR) is presently 17.60%.

Insider Buying and Selling

In related news, CFO Walter Stanley Berman sold 7,000 shares of the company’s stock in a transaction on Thursday, February 5th. The shares were sold at an average price of $544.22, for a total transaction of $3,809,540.00. Following the completion of the transaction, the chief financial officer directly owned 5,609 shares in the company, valued at $3,052,529.98. This represents a 55.52% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Gumer Alvero sold 4,658 shares of the stock in a transaction on Monday, February 9th. The shares were sold at an average price of $542.88, for a total transaction of $2,528,735.04. Following the completion of the sale, the insider directly owned 4,621 shares of the company’s stock, valued at approximately $2,508,648.48. This trade represents a 50.20% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 16,658 shares of company stock valued at $8,998,675. 0.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On Ameriprise Financial

Several hedge funds have recently made changes to their positions in the stock. Norges Bank acquired a new position in Ameriprise Financial in the 4th quarter valued at approximately $742,438,000. AQR Capital Management LLC grew its holdings in shares of Ameriprise Financial by 84.2% during the 4th quarter. AQR Capital Management LLC now owns 1,085,889 shares of the financial services provider’s stock worth $532,455,000 after purchasing an additional 496,319 shares in the last quarter. M&T Bank Corp increased its position in shares of Ameriprise Financial by 1,440.2% during the fourth quarter. M&T Bank Corp now owns 466,151 shares of the financial services provider’s stock valued at $228,572,000 after purchasing an additional 435,885 shares during the period. First Trust Advisors LP increased its position in shares of Ameriprise Financial by 85.5% during the fourth quarter. First Trust Advisors LP now owns 828,437 shares of the financial services provider’s stock valued at $406,216,000 after purchasing an additional 381,754 shares during the period. Finally, Qube Research & Technologies Ltd raised its stake in shares of Ameriprise Financial by 140.5% in the third quarter. Qube Research & Technologies Ltd now owns 471,867 shares of the financial services provider’s stock valued at $231,805,000 after purchasing an additional 275,659 shares in the last quarter. Institutional investors own 83.95% of the company’s stock.

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.