Ameriprise Financial, Inc. (NYSE:AMP) Receives Average Rating of “Hold” from Brokerages

Ameriprise Financial, Inc. (NYSE:AMP) has been assigned a consensus recommendation of “Hold” from the ten brokerages that are currently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating on the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $462.89.

Several equities research analysts have recently issued reports on the stock. Evercore ISI increased their target price on shares of Ameriprise Financial from $400.00 to $445.00 and gave the stock an “in-line” rating in a research note on Thursday, April 11th. Jefferies Financial Group increased their target price on shares of Ameriprise Financial from $500.00 to $504.00 and gave the stock a “buy” rating in a research note on Friday, June 28th. Argus raised their price target on shares of Ameriprise Financial from $440.00 to $460.00 and gave the company a “buy” rating in a research note on Monday, May 6th. Morgan Stanley raised their price target on shares of Ameriprise Financial from $400.00 to $437.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 9th. Finally, Raymond James started coverage on shares of Ameriprise Financial in a research note on Thursday, March 21st. They issued a “market perform” rating on the stock.

Ameriprise Financial Trading Down 1.7 %

AMP stock opened at $421.56 on Thursday. The company’s 50-day simple moving average is $433.25 and its 200-day simple moving average is $415.75. 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 has a 52-week low of $306.63 and a 52-week high of $449.94. The firm has a market cap of $41.87 billion, a P/E ratio of 14.35, a PEG ratio of 0.70 and a beta of 1.37.

Ameriprise Financial (NYSE:AMP) last posted its earnings results on Wednesday, April 24th. The financial services provider reported $8.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $8.10 by $0.29. Ameriprise Financial had a net margin of 19.42% and a return on equity of 75.97%. The business 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 for the quarter was up 10.8% on a year-over-year basis. As a group, equities analysts forecast that Ameriprise Financial will post 34.91 EPS for the current fiscal year.

Ameriprise Financial Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 17th. Shareholders of record on Monday, May 6th were paid a $1.48 dividend. This represents a $5.92 dividend on an annualized basis and a yield of 1.40%. This is a positive change from Ameriprise Financial’s previous quarterly dividend of $1.35. The ex-dividend date of this dividend was Friday, May 3rd. Ameriprise Financial’s dividend payout ratio (DPR) is 20.15%.

Insiders Place Their Bets

In other Ameriprise Financial news, Director Robert Francis Sharpe, Jr. sold 1,500 shares of the firm’s stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $438.07, for a total value of $657,105.00. Following the transaction, the director now directly owns 11,000 shares of the company’s stock, valued at approximately $4,818,770. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.73% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Retirement Group LLC acquired a new stake in shares of Ameriprise Financial during the 1st quarter worth approximately $25,000. Redmont Wealth Advisors LLC acquired a new stake in shares of Ameriprise Financial during the 1st quarter worth approximately $28,000. Bank & Trust Co acquired a new stake in shares of Ameriprise Financial during the 2nd quarter worth approximately $29,000. Annapolis Financial Services LLC increased its holdings in shares of Ameriprise Financial by 928.6% during the 1st quarter. Annapolis Financial Services LLC now owns 72 shares of the financial services provider’s stock worth $32,000 after buying an additional 65 shares during the last quarter. Finally, Sound Income Strategies LLC acquired a new stake in shares of Ameriprise Financial during the 1st quarter worth approximately $32,000. 83.95% of the stock is owned by hedge funds and other institutional investors.

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.