Brokerages Set Ameriprise Financial, Inc. (NYSE:AMP) PT at $555.33

Shares of Ameriprise Financial, Inc. (NYSE:AMP) have been given an average recommendation of “Moderate Buy” by the eleven brokerages that are presently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, four have given a hold rating, four have assigned a buy rating and two have given a strong buy rating to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $555.3333.

A number of analysts have weighed in on AMP shares. Jefferies Financial Group increased their price target on Ameriprise Financial from $636.00 to $645.00 and gave the stock a “buy” rating in a report on Friday, July 10th. Piper Sandler boosted their price objective on Ameriprise Financial from $471.00 to $518.00 and gave the company a “neutral” rating in a research note on Monday, July 13th. Weiss Ratings upgraded Ameriprise Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, July 17th. Keefe, Bruyette & Woods raised their target price on Ameriprise Financial from $515.00 to $545.00 and gave the stock a “market perform” rating in a research note on Friday, July 24th. Finally, Zacks Research upgraded Ameriprise Financial from a “hold” rating to a “strong-buy” rating in a report on Monday, July 27th.

Insider Activity at Ameriprise Financial

In related news, EVP Deirdre Davey Mcgraw sold 2,400 shares of the stock in a transaction on Thursday, August 6th. The shares were sold at an average price of $558.28, for a total transaction of $1,339,872.00. Following the transaction, the executive vice president directly owned 3,373 shares of the company’s stock, valued at $1,883,078.44. This represents a 41.57% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Walter Stanley Berman sold 11,012 shares of the firm’s stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $548.95, for a total transaction of $6,045,037.40. Following the completion of the sale, the chief financial officer owned 5,609 shares of the company’s stock, valued at $3,079,060.55. The trade was a 66.25% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 29,988 shares of company stock worth $16,316,497. 0.60% of the stock is owned by insiders.

Hedge Funds Weigh In On Ameriprise Financial

Institutional investors and hedge funds have recently made changes to their positions in the stock. SouthState Bank Corp raised its stake in Ameriprise Financial by 78.6% during the 4th quarter. SouthState Bank Corp now owns 50 shares of the financial services provider’s stock worth $25,000 after buying an additional 22 shares during the period. Twin Lakes Capital Management LLC acquired a new stake in Ameriprise Financial in the second quarter valued at approximately $25,000. Cassaday & Co Wealth Management LLC acquired a new stake in Ameriprise Financial in the first quarter valued at approximately $28,000. University of Texas Texas AM Investment Management Co. bought a new stake in shares of Ameriprise Financial during the second quarter valued at approximately $28,000. Finally, Fiduciary Financial Advisors acquired a new position in shares of Ameriprise Financial during the second quarter worth approximately $30,000. Institutional investors own 83.95% of the company’s stock.

Ameriprise Financial Trading Down 0.9%

NYSE:AMP opened at $554.01 on Tuesday. Ameriprise Financial has a 52 week low of $422.37 and a 52 week high of $572.56. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.71 and a current ratio of 0.71. The firm’s fifty day moving average is $528.53 and its 200-day moving average is $482.75. The firm has a market cap of $49.81 billion, a P/E ratio of 13.36, a P/E/G ratio of 0.75 and a beta of 1.14.

Ameriprise Financial (NYSE:AMP) last announced its earnings results on Thursday, July 23rd. The financial services provider reported $11.07 earnings per share for the quarter, topping analysts’ consensus estimates of $10.81 by $0.26. The business had revenue of $4.90 billion during the quarter, compared to the consensus estimate of $4.87 billion. Ameriprise Financial had a net margin of 20.24% and a return on equity of 64.19%. Ameriprise Financial’s quarterly revenue was up 11.6% on a year-over-year basis. During the same quarter last year, the firm earned $9.11 earnings per share. Equities analysts expect that Ameriprise Financial will post 46.27 earnings per share for the current year.

Ameriprise Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 21st. Stockholders of record on Monday, August 3rd were given a dividend of $1.70 per share. The ex-dividend date of this dividend was Monday, August 3rd. This represents a $6.80 annualized dividend and a dividend yield of 1.2%. Ameriprise Financial’s dividend payout ratio (DPR) is 16.40%.

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.