Ameriprise Financial, Inc. (NYSE:AMP) Receives $555.67 Average Price Target from Brokerages

Ameriprise Financial, Inc. (NYSE:AMP) has earned an average recommendation of “Hold” from the eleven ratings firms that are currently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation, four have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $555.6667.

A number of research analysts have recently issued reports on the company. Piper Sandler upgraded Ameriprise Financial from an “underweight” rating to a “neutral” rating and upped their target price for the company from $434.00 to $530.00 in a research report on Friday, January 30th. Royal Bank Of Canada reissued an “outperform” rating and issued a $605.00 price target (up from $580.00) on shares of Ameriprise Financial in a research note on Monday, February 2nd. Argus reduced their price objective on shares of Ameriprise Financial from $568.00 to $554.00 and set a “buy” rating for the company in a research report on Thursday, November 13th. Raymond James Financial set a $582.00 price objective on shares of Ameriprise Financial and gave the company a “strong-buy” rating in a research note on Wednesday, February 11th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Ameriprise Financial in a research report on Monday, December 29th.

Ameriprise Financial Trading Up 0.7%

AMP opened at $472.16 on Tuesday. Ameriprise Financial has a twelve month low of $396.14 and a twelve month high of $550.18. The company has a fifty day moving average of $496.69 and a 200-day moving average of $487.50. The stock has a market cap of $43.05 billion, a PE ratio of 12.99, a price-to-earnings-growth ratio of 1.09 and a beta of 1.27. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 0.86.

Ameriprise Financial (NYSE:AMP) last released its earnings results on Thursday, January 29th. The financial services provider reported $10.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $10.33 by $0.50. Ameriprise Financial had a net margin of 19.28% and a return on equity of 63.04%. The business had revenue of $4.92 billion for the quarter, compared to analyst estimates of $4.75 billion. During the same quarter in the previous year, the business earned $9.54 earnings per share. Ameriprise Financial’s revenue for the quarter was up 10.2% on a year-over-year basis. On average, sell-side 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 27th. Stockholders of record on Monday, February 9th were issued a dividend of $1.60 per share. The ex-dividend date was Monday, February 9th. This represents a $6.40 annualized dividend and a dividend yield of 1.4%. Ameriprise Financial’s dividend payout ratio is currently 17.60%.

Insider Activity

In other Ameriprise Financial news, CFO Walter Stanley Berman sold 7,000 shares of the stock in a transaction that occurred on Thursday, February 5th. The stock was sold at an average price of $544.22, for a total value of $3,809,540.00. Following the transaction, the chief financial officer owned 5,609 shares in the company, valued at approximately $3,052,529.98. This represents a 55.52% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Gumer Alvero sold 4,658 shares of the business’s stock in a transaction that occurred on Monday, February 9th. The shares were sold at an average price of $542.88, for a total value of $2,528,735.04. Following the sale, the insider owned 4,621 shares of the company’s stock, valued at approximately $2,508,648.48. This represents a 50.20% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 16,658 shares of company stock worth $8,998,675 in the last three months. Company insiders own 0.73% of the company’s stock.

Hedge Funds Weigh In On Ameriprise Financial

A number of large investors have recently modified their holdings of the company. SouthState Bank Corp lifted its stake in shares of Ameriprise Financial by 78.6% in the fourth quarter. SouthState Bank Corp now owns 50 shares of the financial services provider’s stock valued at $25,000 after buying an additional 22 shares in the last quarter. Holos Integrated Wealth LLC acquired a new stake in shares of Ameriprise Financial in the 4th quarter worth about $30,000. Winnow Wealth LLC acquired a new stake in shares of Ameriprise Financial in the 2nd quarter worth about $32,000. Heartwood Wealth Advisors LLC bought a new position in Ameriprise Financial in the 3rd quarter valued at about $32,000. Finally, Redmont Wealth Advisors LLC acquired a new position in Ameriprise Financial during the 3rd quarter valued at about $32,000. 83.95% of the stock is currently owned by institutional investors.

About Ameriprise Financial

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.