Ameriprise Financial (NYSE:AMP) Price Target Raised to $555.00

Ameriprise Financial (NYSE:AMP) had its price objective raised by UBS Group from $490.00 to $555.00 in a research note issued to investors on Tuesday morning, Benzinga reports. They currently have a buy rating on the financial services provider’s stock.

Several other research analysts have also recently issued reports on the stock. Royal Bank of Canada increased their price target on shares of Ameriprise Financial from $487.00 to $500.00 and gave the stock an outperform rating in a report on Tuesday, July 30th. Jefferies Financial Group lifted 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. Piper Sandler dropped their price objective on Ameriprise Financial from $390.00 to $387.00 and set an underweight rating on the stock in a report on Friday, June 28th. Keefe, Bruyette & Woods reduced their target price on Ameriprise Financial from $470.00 to $460.00 and set a market perform rating for the company in a report on Tuesday, July 30th. Finally, Morgan Stanley lowered their price target on shares of 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. One research analyst has rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of Hold and an average target price of $469.67.

Ameriprise Financial Stock Down 0.4 %

Shares of NYSE:AMP opened at $491.33 on Tuesday. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.59 and a quick ratio of 0.59. The stock has a market cap of $48.80 billion, a P/E ratio of 16.72, a P/E/G ratio of 0.80 and a beta of 1.35. Ameriprise Financial has a 1-year low of $306.63 and a 1-year high of $495.25. The firm has a fifty day moving average price of $442.28 and a 200 day moving average price of $433.53.

Ameriprise Financial (NYSE:AMP) last issued its quarterly earnings results on Wednesday, July 24th. The financial services provider reported $8.72 earnings per share for the quarter, topping the consensus estimate of $8.53 by $0.19. The firm had revenue of $4.39 billion during the quarter, compared to the consensus estimate of $4.24 billion. Ameriprise Financial had a return on equity of 73.83% and a net margin of 18.64%. The company’s revenue for the quarter was up 9.6% on a year-over-year basis. During the same period last year, the company earned $7.44 earnings per share. Sell-side analysts predict that Ameriprise Financial will post 34.81 EPS for the current year.

Ameriprise Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 16th. Investors of record on Monday, August 5th were given a $1.48 dividend. The ex-dividend date of this dividend was Monday, August 5th. This represents a $5.92 annualized dividend and a dividend yield of 1.20%. Ameriprise Financial’s dividend payout ratio is presently 20.15%.

Insider Buying and Selling at Ameriprise Financial

In other Ameriprise Financial news, VP William Davies sold 8,700 shares of Ameriprise Financial 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 approximately $5,834,881.93. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.73% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Ameriprise Financial

A number of large investors have recently bought and sold shares of AMP. Retirement Group LLC acquired a new stake in shares of Ameriprise Financial during the first quarter valued at $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 buying an additional 43 shares in the last quarter. Accordant Advisory Group Inc acquired a new position in shares of Ameriprise Financial in the second quarter valued at approximately $26,000. Redmont Wealth Advisors LLC purchased a new position in shares of Ameriprise Financial during the first quarter valued at approximately $28,000. Finally, Mascoma Wealth Management LLC boosted its position in Ameriprise Financial by 153.8% during the second quarter. Mascoma Wealth Management LLC now owns 66 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 40 shares during the last quarter. Institutional investors and hedge funds own 83.95% of the company’s stock.

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.