Ameriprise Financial, Inc. (NYSE:AMP) Receives $464.33 Average Target Price from Analysts

Shares of Ameriprise Financial, Inc. (NYSE:AMP) have been given an average rating of “Hold” by the ten brokerages that are presently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, five have issued a hold recommendation and four have given a buy recommendation to the company. The average 1-year target price among brokers that have covered the stock in the last year is $463.00.

AMP has been the subject of a number of research analyst reports. Royal Bank of Canada increased their price target on Ameriprise Financial from $487.00 to $500.00 and gave the company an “outperform” rating in a research note on Tuesday, July 30th. Keefe, Bruyette & Woods decreased their price target on Ameriprise Financial from $470.00 to $460.00 and set a “market perform” rating for the company in a research note on Tuesday, July 30th. Jefferies Financial Group increased their price target on Ameriprise Financial from $500.00 to $504.00 and gave the company a “buy” rating in a research note on Friday, June 28th. Morgan Stanley decreased their price target on Ameriprise Financial from $444.00 to $440.00 and set an “equal weight” rating for the company in a research note on Monday, July 29th. Finally, UBS Group decreased their price target on Ameriprise Financial from $500.00 to $495.00 and set a “buy” rating for the company in a research note on Tuesday, July 9th.

Insider Buying and Selling

In related news, VP William Davies sold 8,700 shares of the firm’s stock in a transaction dated 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 sale, the vice president now directly owns 13,199 shares of the company’s stock, valued at $5,834,881.93. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.73% of the stock is owned by corporate insiders.

Institutional Trading of Ameriprise Financial

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Empirical Finance LLC grew its holdings in Ameriprise Financial by 3.0% during the first quarter. Empirical Finance LLC now owns 3,896 shares of the financial services provider’s stock worth $1,708,000 after acquiring an additional 113 shares during the period. Nomura Holdings Inc. acquired a new stake in Ameriprise Financial in the fourth quarter valued at approximately $775,000. State Board of Administration of Florida Retirement System grew its holdings in Ameriprise Financial by 7.9% in the first 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 during the period. TD Asset Management Inc grew its holdings in Ameriprise Financial by 151.5% in the fourth 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 during the period. Finally, BDF Gestion acquired a new stake in Ameriprise Financial in the second quarter valued at approximately $2,836,000. 83.95% of the stock is owned by institutional investors and hedge funds.

Ameriprise Financial Trading Up 0.3 %

AMP opened at $469.81 on Tuesday. The firm has a market cap of $46.66 billion, a price-to-earnings ratio of 15.99, a PEG ratio of 0.80 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. Ameriprise Financial has a 12 month low of $306.63 and a 12 month high of $471.57. The stock has a fifty day moving average price of $435.13 and a 200-day moving average price of $430.89.

Ameriprise Financial (NYSE:AMP) last released its quarterly earnings results on Wednesday, July 24th. The financial services provider reported $8.72 EPS for the quarter, topping the consensus estimate of $8.53 by $0.19. Ameriprise Financial had a return on equity of 73.83% and a net margin of 18.64%. The firm had revenue of $4.39 billion during the quarter, compared to analyst estimates of $4.24 billion. During the same period in the previous year, the company posted $7.44 EPS. The business’s revenue for the quarter was up 9.6% compared to the same quarter last year. As a group, equities research analysts anticipate that Ameriprise Financial will post 34.81 earnings per share for the current fiscal year.

Ameriprise Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 16th. Stockholders of record on Monday, August 5th were issued a $1.48 dividend. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.26%. The ex-dividend date of this dividend was Monday, August 5th. Ameriprise Financial’s dividend payout ratio is presently 20.15%.

Ameriprise Financial Company Profile

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.