Ameriprise Financial (AMP) Given a $165.00 Price Target by Sandler O’Neill Analysts
Several other brokerages have also recently weighed in on AMP. Morgan Stanley boosted their price objective on Ameriprise Financial from $187.00 to $190.00 and gave the stock an overweight rating in a research note on Thursday, January 25th. SunTrust Banks boosted their price objective on Ameriprise Financial to $180.00 and gave the stock a hold rating in a research note on Friday, January 19th. Zacks Investment Research raised Ameriprise Financial from a hold rating to a buy rating and set a $195.00 target price on the stock in a research note on Wednesday, January 10th. Royal Bank of Canada set a $168.00 target price on Ameriprise Financial and gave the company a hold rating in a research note on Saturday, December 16th. Finally, ValuEngine cut Ameriprise Financial from a strong-buy rating to a buy rating in a research note on Friday, December 1st. Five investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The company currently has a consensus rating of Buy and an average price target of $164.98.
Shares of Ameriprise Financial (AMP) opened at $160.55 on Monday. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.67 and a current ratio of 0.67. Ameriprise Financial has a 52 week low of $118.84 and a 52 week high of $183.90. The firm has a market capitalization of $23,750.00, a P/E ratio of 17.03 and a beta of 1.85.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, February 28th. Stockholders of record on Friday, February 16th will be paid a dividend of $0.83 per share. The ex-dividend date of this dividend is Thursday, February 15th. This represents a $3.32 dividend on an annualized basis and a dividend yield of 2.07%. Ameriprise Financial’s dividend payout ratio is 35.21%.
In other news, EVP Deirdre Davey Mcgraw sold 5,500 shares of the company’s stock in a transaction that occurred on Friday, January 26th. The stock was sold at an average price of $174.04, for a total transaction of $957,220.00. Following the transaction, the executive vice president now owns 8,138 shares of the company’s stock, valued at $1,416,337.52. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO William F. Truscott sold 31,379 shares of the company’s stock in a transaction that occurred on Friday, January 26th. The shares were sold at an average price of $173.64, for a total value of $5,448,649.56. Following the transaction, the chief executive officer now directly owns 67,058 shares in the company, valued at approximately $11,643,951.12. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 49,628 shares of company stock worth $8,570,993. Insiders own 1.50% of the company’s stock.
Large investors have recently made changes to their positions in the stock. Icon Wealth Partners LLC bought a new position in Ameriprise Financial in the fourth quarter worth approximately $101,000. Lee Financial Co grew its stake in Ameriprise Financial by 99.4% in the fourth quarter. Lee Financial Co now owns 682 shares of the financial services provider’s stock worth $116,000 after purchasing an additional 340 shares in the last quarter. Virtue Capital Management LLC bought a new position in Ameriprise Financial in the fourth quarter worth approximately $128,000. Whittier Trust Co. of Nevada Inc. grew its stake in Ameriprise Financial by 150.0% in the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 780 shares of the financial services provider’s stock worth $132,000 after purchasing an additional 468 shares in the last quarter. Finally, Crewe Advisors LLC bought a new position in Ameriprise Financial in the fourth quarter worth approximately $133,000. 80.20% of the stock is currently owned by institutional investors.
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About Ameriprise Financial
Ameriprise Financial, Inc is a financial services company that offers financial solutions to individual and institutional clients. The Company operates in five segments: Advice & Wealth Management; Asset Management; Annuities; Protection, and Corporate & Other. The Company uses Ameriprise Financial as its enterprise brand, as well as the name of its advisor network and certain of its retail products and services.
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