Ameriprise Financial, Inc. (NYSE:AMP) Receives $510.44 Consensus Target Price from Brokerages

Ameriprise Financial, Inc. (NYSE:AMP) has been given a consensus recommendation of “Hold” by the ten ratings firms that are currently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $510.44.

A number of equities research analysts have recently weighed in on AMP shares. UBS Group downgraded shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and reduced their price target for the company from $580.00 to $570.00 in a research note on Monday, January 6th. Piper Sandler raised their target price on shares of Ameriprise Financial from $415.00 to $442.00 and gave the company an “underweight” rating in a research report on Friday, January 31st. Keefe, Bruyette & Woods upped their price target on shares of Ameriprise Financial from $560.00 to $570.00 and gave the stock a “market perform” rating in a report on Monday, February 3rd. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $625.00 price target on shares of Ameriprise Financial in a research note on Monday, February 3rd.

Insider Activity

In related news, Director Robert Francis Sharpe, Jr. sold 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $523.12, for a total transaction of $523,120.00. Following the completion of the transaction, the director now owns 10,000 shares in the company, valued at $5,231,200. This represents a 9.09 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO William F. Truscott sold 6,000 shares of the business’s stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $540.29, for a total transaction of $3,241,740.00. Following the transaction, the chief executive officer now owns 14,023 shares in the company, valued at $7,576,486.67. This represents a 29.97 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 11,636 shares of company stock valued at $6,263,989. Corporate insiders own 0.96% of the company’s stock.

Institutional Investors Weigh In On Ameriprise Financial

A number of institutional investors have recently modified their holdings of AMP. TCTC Holdings LLC bought a new stake in shares of Ameriprise Financial during the fourth quarter valued at approximately $26,000. University of Texas Texas AM Investment Management Co. purchased a new stake in Ameriprise Financial during the 4th quarter valued at $26,000. Whipplewood Advisors LLC bought a new stake in shares of Ameriprise Financial in the 4th quarter worth $28,000. Rialto Wealth Management LLC purchased a new position in shares of Ameriprise Financial in the fourth quarter worth $28,000. Finally, Wingate Wealth Advisors Inc. bought a new position in shares of Ameriprise Financial during the fourth quarter valued at $30,000. 83.95% of the stock is owned by hedge funds and other institutional investors.

Ameriprise Financial Price Performance

NYSE:AMP opened at $521.85 on Friday. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 1.01. Ameriprise Financial has a 12-month low of $385.74 and a 12-month high of $582.05. The stock’s 50 day moving average price is $539.71 and its two-hundred day moving average price is $513.01. The firm has a market capitalization of $50.16 billion, a price-to-earnings ratio of 15.78, a P/E/G ratio of 1.15 and a beta of 1.36.

Ameriprise Financial (NYSE:AMP) last issued its quarterly earnings data on Wednesday, January 29th. The financial services provider reported $9.36 earnings per share for the quarter, topping the consensus estimate of $9.16 by $0.20. Ameriprise Financial had a net margin of 19.70% and a return on equity of 69.35%. On average, analysts anticipate that Ameriprise Financial will post 38.64 earnings per share for the current year.

Ameriprise Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Monday, February 10th will be issued a dividend of $1.48 per share. The ex-dividend date of this dividend is Monday, February 10th. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.13%. Ameriprise Financial’s dividend payout ratio is 17.91%.

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.