Ameriprise Financial, Inc. (NYSE:AMP) Given Consensus Recommendation of “Hold” by Brokerages

Shares of Ameriprise Financial, Inc. (NYSE:AMP) have received a consensus rating of “Hold” from the ten research firms that are currently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and five have given a buy recommendation to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $464.33.

Several research analysts have recently issued reports on the stock. Morgan Stanley cut their target price on shares of Ameriprise Financial from $444.00 to $440.00 and set an “equal weight” rating on the stock in a report on Monday, July 29th. Royal Bank of Canada raised their target price on shares of Ameriprise Financial from $487.00 to $500.00 and gave the stock an “outperform” rating in a report on Tuesday, July 30th. Keefe, Bruyette & Woods cut their price target on shares of Ameriprise Financial from $470.00 to $460.00 and set a “market perform” rating on the stock in a report on Tuesday, July 30th. UBS Group cut their price target on shares of Ameriprise Financial from $500.00 to $495.00 and set a “buy” rating on the stock in a report on Tuesday, July 9th. Finally, Piper Sandler cut their price target on shares of Ameriprise Financial from $390.00 to $387.00 and set an “underweight” rating on the stock in a report on Friday, June 28th.

Insider Buying and Selling at Ameriprise Financial

In other news, VP William Davies sold 8,700 shares of the company’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $442.07, for a total transaction of $3,846,009.00. Following the completion of the transaction, the vice president now directly owns 13,199 shares of the company’s stock, valued at approximately $5,834,881.93. The sale was disclosed in a filing with the SEC, which is available at this link. 0.73% of the stock is currently owned by corporate insiders.

Institutional Trading of Ameriprise Financial

Several large investors have recently made changes to their positions in the company. Empirical Finance LLC lifted its stake in shares of Ameriprise Financial by 3.0% in the 1st quarter. Empirical Finance LLC now owns 3,896 shares of the financial services provider’s stock valued at $1,708,000 after purchasing an additional 113 shares during the last quarter. Nomura Holdings Inc. acquired a new stake in Ameriprise Financial in the 4th quarter valued at about $775,000. State Board of Administration of Florida Retirement System raised its position in Ameriprise Financial by 7.9% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 118,211 shares of the financial services provider’s stock valued at $51,828,000 after purchasing an additional 8,693 shares in the last quarter. TD Asset Management Inc raised its position in Ameriprise Financial by 151.5% in the 4th quarter. TD Asset Management Inc now owns 595,644 shares of the financial services provider’s stock valued at $226,243,000 after purchasing an additional 358,780 shares in the last quarter. Finally, BDF Gestion purchased a new position in shares of Ameriprise Financial in the 2nd quarter valued at about $2,836,000. 83.95% of the stock is currently owned by hedge funds and other institutional investors.

Ameriprise Financial Trading Up 0.3 %

Shares of Ameriprise Financial stock opened at $461.93 on Tuesday. Ameriprise Financial has a 12-month low of $306.63 and a 12-month high of $465.82. The company has a market cap of $45.88 billion, a price-to-earnings ratio of 15.72, a PEG ratio of 0.75 and a beta of 1.35. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 1.16. The company’s 50-day moving average price is $430.48 and its 200-day moving average price is $429.03.

Ameriprise Financial (NYSE:AMP) last announced its earnings results on Wednesday, July 24th. The financial services provider reported $8.72 earnings per share for the quarter, beating analysts’ consensus estimates of $8.53 by $0.19. The business had revenue of $4.39 billion for the quarter, compared to the consensus estimate of $4.24 billion. Ameriprise Financial had a net margin of 18.64% and a return on equity of 73.83%. Ameriprise Financial’s quarterly revenue was up 9.6% on a year-over-year basis. During the same period last year, the firm posted $7.44 earnings per share. On average, equities analysts expect that Ameriprise Financial will post 34.81 earnings per share for the current fiscal year.

Ameriprise Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 16th. Investors of record on Monday, August 5th were issued a dividend of $1.48 per share. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.28%. The ex-dividend date was Monday, August 5th. Ameriprise Financial’s dividend payout ratio (DPR) is 20.15%.

About Ameriprise Financial

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.