Ameriprise Financial (NYSE:AMP) Price Target Lowered to $387.00 at Piper Sandler

Ameriprise Financial (NYSE:AMP) had its target price cut by Piper Sandler from $390.00 to $387.00 in a research note released on Friday morning, Benzinga reports. They currently have an underweight rating on the financial services provider’s stock.

AMP has been the topic of several other reports. Raymond James began coverage on Ameriprise Financial in a report on Thursday, March 21st. They issued a market perform rating on the stock. The Goldman Sachs Group boosted their target price on Ameriprise Financial from $437.00 to $488.00 and gave the stock a buy rating in a report on Wednesday, March 27th. Evercore ISI boosted their target price on Ameriprise Financial from $400.00 to $445.00 and gave the stock an in-line rating in a report on Thursday, April 11th. Keefe, Bruyette & Woods boosted their target price on Ameriprise Financial from $420.00 to $460.00 and gave the stock a market perform rating in a report on Wednesday, April 10th. Finally, Argus boosted their target price on Ameriprise Financial from $440.00 to $460.00 and gave the stock a buy rating in a report on Monday, May 6th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, Ameriprise Financial has a consensus rating of Hold and an average price target of $456.22.

Ameriprise Financial Trading Down 0.6 %

Shares of AMP opened at $427.71 on Friday. Ameriprise Financial has a 12-month low of $306.63 and a 12-month high of $446.32. The firm has a market capitalization of $42.48 billion, a price-to-earnings ratio of 14.56, a P/E/G ratio of 0.74 and a beta of 1.36. The stock’s 50-day moving average price is $428.66 and its 200 day moving average price is $410.32. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 1.13.

Ameriprise Financial (NYSE:AMP) last released its quarterly earnings data on Wednesday, April 24th. The financial services provider reported $8.39 earnings per share for the quarter, beating the consensus estimate of $8.10 by $0.29. Ameriprise Financial had a return on equity of 75.97% and a net margin of 19.42%. The company had revenue of $4.15 billion for the quarter, compared to analyst estimates of $4.15 billion. During the same period in the prior year, the company posted $7.25 EPS. The company’s revenue was up 10.8% compared to the same quarter last year. As a group, research analysts predict that Ameriprise Financial will post 34.95 earnings per share for the current year.

Ameriprise Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 17th. Shareholders of record on Monday, May 6th were issued a dividend of $1.48 per share. This is an increase from Ameriprise Financial’s previous quarterly dividend of $1.35. The ex-dividend date of this dividend was Friday, May 3rd. This represents a $5.92 annualized dividend and a yield of 1.38%. Ameriprise Financial’s dividend payout ratio is currently 20.15%.

Insiders Place Their Bets

In other Ameriprise Financial news, Director Robert Francis Sharpe, Jr. sold 1,500 shares of the company’s stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $438.07, for a total transaction of $657,105.00. Following the transaction, the director now owns 11,000 shares of the company’s stock, valued at approximately $4,818,770. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 0.73% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Venture Visionary Partners LLC lifted its stake in shares of Ameriprise Financial by 2.9% in the 4th quarter. Venture Visionary Partners LLC now owns 14,874 shares of the financial services provider’s stock valued at $5,650,000 after purchasing an additional 416 shares during the period. 17 Capital Partners LLC acquired a new position in shares of Ameriprise Financial in the 4th quarter valued at $2,078,000. Vanguard Personalized Indexing Management LLC lifted its stake in shares of Ameriprise Financial by 0.5% in the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 13,600 shares of the financial services provider’s stock valued at $5,166,000 after purchasing an additional 73 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in shares of Ameriprise Financial by 3.9% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 110,995 shares of the financial services provider’s stock valued at $42,238,000 after purchasing an additional 4,203 shares during the period. Finally, Cerity Partners LLC increased its position in shares of Ameriprise Financial by 280.6% in the 4th quarter. Cerity Partners LLC now owns 30,502 shares of the financial services provider’s stock valued at $11,585,000 after buying an additional 22,487 shares in the last quarter. Institutional investors and hedge funds own 83.95% of the company’s stock.

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.