StockNews.com Begins Coverage on Ameriprise Financial (NYSE:AMP)

StockNews.com initiated coverage on shares of Ameriprise Financial (NYSE:AMP – Get Rating) in a research report report published on Thursday. The firm issued a hold rating on the financial services provider’s stock.

AMP has been the topic of several other reports. Credit Suisse Group upped their price target on shares of Ameriprise Financial from $382.00 to $401.00 and gave the stock an outperform rating in a research report on Wednesday, February 1st. UBS Group lifted their price target on Ameriprise Financial from $355.00 to $370.00 and gave the stock a buy rating in a report on Monday, January 9th. Argus upped their price objective on Ameriprise Financial from $340.00 to $392.00 in a research note on Tuesday, January 31st. Morgan Stanley lifted their target price on Ameriprise Financial from $340.00 to $345.00 and gave the stock an equal weight rating in a research note on Tuesday, January 10th. Finally, Keefe, Bruyette & Woods boosted their target price on Ameriprise Financial from $350.00 to $375.00 and gave the stock a market perform rating in a report on Tuesday, January 31st. One investment analyst has rated the stock with a sell rating, four have given a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Ameriprise Financial has a consensus rating of Moderate Buy and a consensus target price of $347.18.

Ameriprise Financial Trading Down 2.3 %

Ameriprise Financial stock opened at $281.43 on Thursday. The company has a market cap of $29.95 billion, a price-to-earnings ratio of 12.54, a P/E/G ratio of 0.51 and a beta of 1.49. The firm has a 50-day moving average of $335.26 and a 200-day moving average of $310.37. The company has a debt-to-equity ratio of 1.43, a current ratio of 0.69 and a quick ratio of 0.69. Ameriprise Financial has a one year low of $219.99 and a one year high of $357.46.

Ameriprise Financial (NYSE:AMP – Get Rating) last issued its quarterly earnings results on Thursday, January 26th. The financial services provider reported $6.94 EPS for the quarter, beating the consensus estimate of $6.35 by $0.59. The firm had revenue of $3.62 billion during the quarter, compared to analysts’ expectations of $3.46 billion. Ameriprise Financial had a return on equity of 70.64% and a net margin of 17.91%. The business’s quarterly revenue was down 3.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $6.15 earnings per share. On average, equities analysts expect that Ameriprise Financial will post 30.69 earnings per share for the current fiscal year.

Ameriprise Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, February 28th. Stockholders of record on Friday, February 10th were paid a $1.25 dividend. This represents a $5.00 annualized dividend and a dividend yield of 1.78%. The ex-dividend date was Thursday, February 9th. Ameriprise Financial’s dividend payout ratio is currently 22.27%.

Insider Transactions at Ameriprise Financial

In other Ameriprise Financial news, CEO William F. Truscott sold 11,483 shares of the stock in a transaction that occurred on Friday, January 27th. The stock was sold at an average price of $347.69, for a total transaction of $3,992,524.27. Following the transaction, the chief executive officer now directly owns 16,262 shares in the company, valued at approximately $5,654,134.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Ameriprise Financial news, CEO William F. Truscott sold 11,483 shares of Ameriprise Financial stock in a transaction on Friday, January 27th. The shares were sold at an average price of $347.69, for a total transaction of $3,992,524.27. Following the transaction, the chief executive officer now directly owns 16,262 shares of the company’s stock, valued at approximately $5,654,134.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO William F. Truscott sold 11,480 shares of the business’s stock in a transaction dated Monday, February 13th. The stock was sold at an average price of $355.33, for a total transaction of $4,079,188.40. Following the completion of the transaction, the chief executive officer now directly owns 17,489 shares in the company, valued at $6,214,366.37. The disclosure for this sale can be found here. Insiders sold 75,738 shares of company stock worth $26,606,004 over the last ninety days. 1.00% of the stock is owned by insiders.

Hedge Funds Weigh In On Ameriprise Financial

A number of large investors have recently added to or reduced their stakes in AMP. B. Riley Wealth Advisors Inc. raised its holdings in shares of Ameriprise Financial by 21.6% during the fourth quarter. B. Riley Wealth Advisors Inc. now owns 3,643 shares of the financial services provider’s stock valued at $1,134,000 after acquiring an additional 646 shares in the last quarter. Mather Group LLC. raised its position in Ameriprise Financial by 5.2% in the 4th quarter. Mather Group LLC. now owns 2,998 shares of the financial services provider’s stock worth $934,000 after buying an additional 147 shares during the last quarter. Great Lakes Retirement Inc. bought a new position in shares of Ameriprise Financial during the 4th quarter valued at $1,955,000. OLD Mission Capital LLC bought a new position in shares of Ameriprise Financial in the 4th quarter worth approximately $25,000. Finally, Voya Investment Management LLC raised its holdings in Ameriprise Financial by 1.5% in the 4th quarter. Voya Investment Management LLC now owns 81,368 shares of the financial services provider’s stock worth $25,336,000 after purchasing an additional 1,166 shares during the period. Hedge funds and other institutional investors own 81.66% of the company’s stock.

Ameriprise Financial Company Profile

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Ameriprise Financial, Inc operates as a holding company. The firm provides financial planning, asset management and insurance services to individuals, businesses and institutions. It operates through the following business segments: Advice & Wealth Management, Asset Management, Retirement & Protection Solutions, and Corporate & Other.