Ameriprise Financial (NYSE:AMP) Given New $460.00 Price Target at Argus

Ameriprise Financial (NYSE:AMP) had its target price raised by Argus from $440.00 to $460.00 in a research report released on Monday, Benzinga reports. They currently have a buy rating on the financial services provider’s stock.

A number of other research firms also recently commented on AMP. Evercore ISI increased their price objective on shares of Ameriprise Financial from $400.00 to $445.00 and gave the company an in-line rating in a research note on Thursday, April 11th. Keefe, Bruyette & Woods increased their price target on shares of Ameriprise Financial from $420.00 to $460.00 and gave the stock a market perform rating in a research report on Wednesday, April 10th. Raymond James assumed coverage on Ameriprise Financial in a report on Thursday, March 21st. They issued a market perform rating for the company. Royal Bank of Canada increased their target price on Ameriprise Financial from $470.00 to $480.00 and gave the stock an outperform rating in a report on Wednesday, April 24th. Finally, The Goldman Sachs Group lifted their price target on shares of Ameriprise Financial from $437.00 to $488.00 and gave the company a buy rating in a report on Wednesday, March 27th. One analyst has rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, Ameriprise Financial presently has a consensus rating of Hold and an average target price of $450.88.

Ameriprise Financial Stock Up 1.4 %

Shares of NYSE AMP opened at $425.01 on Monday. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.56 and a current ratio of 0.56. Ameriprise Financial has a 1 year low of $286.58 and a 1 year high of $440.67. The stock’s 50-day simple moving average is $420.52 and its 200-day simple moving average is $385.34. The firm has a market cap of $42.58 billion, a price-to-earnings ratio of 14.47, a PEG ratio of 0.71 and a beta of 1.35.

Ameriprise Financial (NYSE:AMP) last issued its quarterly earnings data on Wednesday, April 24th. The financial services provider reported $8.39 earnings per share for the quarter, beating analysts’ consensus estimates of $8.10 by $0.29. Ameriprise Financial had a return on equity of 75.97% and a net margin of 19.42%. The firm had revenue of $4.15 billion during the quarter, compared to analyst estimates of $4.15 billion. During the same quarter last year, the firm earned $7.25 EPS. Ameriprise Financial’s quarterly revenue was up 10.8% on a year-over-year basis. As a group, equities analysts anticipate that Ameriprise Financial will post 34.74 earnings per share for the current fiscal year.

Ameriprise Financial Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 17th. Shareholders of record on Monday, May 6th will be paid a dividend of $1.48 per share. This is a boost from Ameriprise Financial’s previous quarterly dividend of $1.35. The ex-dividend date of this dividend is Friday, May 3rd. This represents a $5.92 annualized dividend and a yield of 1.39%. Ameriprise Financial’s dividend payout ratio (DPR) is presently 20.15%.

Insider Transactions at Ameriprise Financial

In related news, SVP Dawn M. Brockman sold 224 shares of the firm’s stock in a transaction that occurred on Tuesday, March 26th. The shares were sold at an average price of $434.13, for a total transaction of $97,245.12. Following the transaction, the senior vice president now owns 1,288 shares in the company, valued at $559,159.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CFO Walter Stanley Berman sold 13,346 shares of the company’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $387.81, for a total value of $5,175,712.26. Following the completion of the sale, the chief financial officer now owns 6,409 shares in the company, valued at $2,485,474.29. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Dawn M. Brockman sold 224 shares of Ameriprise Financial stock in a transaction dated Tuesday, March 26th. The stock was sold at an average price of $434.13, for a total value of $97,245.12. Following the transaction, the senior vice president now directly owns 1,288 shares in the company, valued at $559,159.44. The disclosure for this sale can be found here. In the last three months, insiders sold 70,326 shares of company stock valued at $28,229,193. Company insiders own 0.96% of the company’s stock.

Hedge Funds Weigh In On Ameriprise Financial

Large investors have recently made changes to their positions in the business. Retirement Group LLC acquired a new stake in Ameriprise Financial during the first quarter valued at approximately $25,000. Redmont Wealth Advisors LLC acquired a new stake in shares of Ameriprise Financial during the 1st quarter valued at $28,000. Annapolis Financial Services LLC boosted its stake in shares of Ameriprise Financial by 928.6% during the 1st quarter. Annapolis Financial Services LLC now owns 72 shares of the financial services provider’s stock worth $32,000 after acquiring an additional 65 shares in the last quarter. Sound Income Strategies LLC acquired a new stake in shares of Ameriprise Financial during the first quarter worth $32,000. Finally, Benjamin Edwards Inc. acquired a new position in shares of Ameriprise Financial in the 1st quarter valued at $34,000. Institutional investors 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.