Ameriprise Financial, Inc. (NYSE:AMP) Receives $487.67 Average Target Price from Brokerages

Shares of Ameriprise Financial, Inc. (NYSE:AMP) have been assigned an average rating of “Hold” from the ten ratings firms that are currently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating on the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $489.33.

Several analysts have recently commented on the stock. UBS Group cut shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $580.00 to $570.00 in a research note on Monday. Keefe, Bruyette & Woods raised their price objective on shares of Ameriprise Financial from $475.00 to $510.00 and gave the company a “market perform” rating in a research report on Tuesday, October 29th. Morgan Stanley increased their target price on Ameriprise Financial from $440.00 to $502.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 17th. Royal Bank of Canada lifted their price target on Ameriprise Financial from $535.00 to $550.00 and gave the company an “outperform” rating in a research note on Friday, October 25th. Finally, The Goldman Sachs Group cut Ameriprise Financial from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $485.00 to $476.00 in a research report on Thursday, September 26th.

Insider Buying and Selling at Ameriprise Financial

In other Ameriprise Financial news, insider Joseph Edward Sweeney sold 10,735 shares of the firm’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $549.68, for a total transaction of $5,900,814.80. Following the sale, the insider now directly owns 5,811 shares of the company’s stock, valued at $3,194,190.48. This trade represents a 64.88 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Walter Stanley Berman sold 8,655 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $564.16, for a total transaction of $4,882,804.80. Following the completion of the transaction, the chief financial officer now directly owns 6,409 shares of the company’s stock, valued at approximately $3,615,701.44. This represents a 57.45 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 21,715 shares of company stock worth $11,983,436. 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 company. Bridgewater Associates LP grew its position in shares of Ameriprise Financial by 97.8% in the third quarter. Bridgewater Associates LP now owns 50,510 shares of the financial services provider’s stock valued at $23,730,000 after purchasing an additional 24,968 shares during the period. Empowered Funds LLC grew its holdings in Ameriprise Financial by 19.9% in the 3rd quarter. Empowered Funds LLC now owns 8,021 shares of the financial services provider’s stock valued at $3,768,000 after buying an additional 1,329 shares during the period. SpiderRock Advisors LLC increased its stake in shares of Ameriprise Financial by 136.3% during the 3rd quarter. SpiderRock Advisors LLC now owns 3,237 shares of the financial services provider’s stock valued at $1,521,000 after acquiring an additional 1,867 shares during the last quarter. Aljian Capital Management LLC purchased a new position in shares of Ameriprise Financial during the 3rd quarter worth about $458,000. Finally, Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Ameriprise Financial by 6.8% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 18,618 shares of the financial services provider’s stock worth $8,725,000 after acquiring an additional 1,191 shares during the last quarter. 83.95% of the stock is owned by hedge funds and other institutional investors.

Ameriprise Financial Price Performance

Ameriprise Financial stock opened at $534.35 on Thursday. The business has a 50 day simple moving average of $547.89 and a 200-day simple moving average of $484.46. Ameriprise Financial has a 12 month low of $368.41 and a 12 month high of $577.00. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.65 and a quick ratio of 0.65. The stock has a market capitalization of $51.84 billion, a PE ratio of 20.51, a price-to-earnings-growth ratio of 0.96 and a beta of 1.36.

Ameriprise Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Monday, November 4th were paid a $1.48 dividend. The ex-dividend date was Monday, November 4th. This represents a $5.92 dividend on an annualized basis and a yield of 1.11%. Ameriprise Financial’s payout ratio is 22.73%.

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.