The Goldman Sachs Group Downgrades Ameriprise Financial (NYSE:AMP) to Neutral

The Goldman Sachs Group lowered shares of Ameriprise Financial (NYSE:AMP) from a buy rating to a neutral rating in a research report released on Thursday morning, MarketBeat Ratings reports. The Goldman Sachs Group currently has $476.00 target price on the financial services provider’s stock, down from their previous target price of $485.00.

A number of other equities analysts have also commented on AMP. Jefferies Financial Group lifted their price target on shares of Ameriprise Financial from $500.00 to $504.00 and gave the company a buy rating in a research report on Friday, June 28th. Piper Sandler cut their target price on shares of Ameriprise Financial from $390.00 to $387.00 and set an underweight rating for the company in a research report on Friday, June 28th. Morgan Stanley dropped their price objective on Ameriprise Financial from $444.00 to $440.00 and set an equal weight rating on the stock in a research note on Monday, July 29th. Keefe, Bruyette & Woods decreased their target price 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. Finally, Royal Bank of Canada raised their target price on Ameriprise Financial from $487.00 to $500.00 and gave the company an outperform rating in a report on Tuesday, July 30th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of Hold and an average price target of $463.00.

Ameriprise Financial Trading Up 0.2 %

Shares of NYSE AMP opened at $468.62 on Thursday. The stock has a market cap of $46.55 billion, a price-to-earnings ratio of 15.95, a PEG ratio of 0.80 and a beta of 1.35. The business has a 50 day simple moving average of $434.13 and a 200 day simple moving average of $430.50. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.59 and a current ratio of 0.59. Ameriprise Financial has a 52 week low of $306.63 and a 52 week high of $471.57.

Ameriprise Financial (NYSE:AMP) last released its quarterly 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 revenue for the quarter was up 9.6% on a year-over-year basis. During the same quarter last year, the firm earned $7.44 EPS. On average, research analysts predict 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 paid a $1.48 dividend. The ex-dividend date of this dividend was Monday, August 5th. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.26%. Ameriprise Financial’s payout ratio is 20.15%.

Insiders Place Their Bets

In other Ameriprise Financial news, VP William Davies sold 8,700 shares of the firm’s stock in a transaction dated Friday, August 30th. The shares were 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 owns 13,199 shares in the company, valued at $5,834,881.93. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.73% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Retirement Group LLC acquired a new position in shares of Ameriprise Financial in the 1st quarter worth approximately $25,000. DiNuzzo Private Wealth Inc. grew its holdings in shares of Ameriprise Financial by 268.8% during the second quarter. DiNuzzo Private Wealth Inc. now owns 59 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 43 shares during the last quarter. Accordant Advisory Group Inc bought a new stake in shares of Ameriprise Financial during the second quarter worth $26,000. Redmont Wealth Advisors LLC acquired a new stake in shares of Ameriprise Financial in the first quarter valued at $28,000. Finally, Mascoma Wealth Management LLC raised its holdings in shares of Ameriprise Financial by 153.8% in the second quarter. Mascoma Wealth Management LLC now owns 66 shares of the financial services provider’s stock valued at $28,000 after buying an additional 40 shares during the last quarter. 83.95% of the stock is owned by institutional investors.

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.