Analysts Set Ameriprise Financial, Inc. (NYSE:AMP) Price Target at $533.22

Shares of Ameriprise Financial, Inc. (NYSE:AMP) have received an average rating of “Hold” from the eleven brokerages that are currently covering the firm, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $533.2222.

AMP has been the topic of a number of recent research reports. Weiss Ratings reiterated a “buy (b-)” rating on shares of Ameriprise Financial in a research report on Tuesday. Evercore ISI cut their price objective on shares of Ameriprise Financial from $587.00 to $570.00 and set an “in-line” rating for the company in a research note on Thursday, October 9th. Royal Bank Of Canada reduced their target price on shares of Ameriprise Financial from $601.00 to $550.00 and set an “outperform” rating on the stock in a report on Monday, November 3rd. BMO Capital Markets began coverage on shares of Ameriprise Financial in a research note on Friday, October 3rd. They issued a “market perform” rating and a $525.00 price target for the company. Finally, Argus reduced their price objective on Ameriprise Financial from $568.00 to $554.00 and set a “buy” rating on the stock in a research note on Thursday, November 13th.

Ameriprise Financial Stock Up 0.4%

AMP opened at $489.53 on Thursday. The business’s fifty day simple moving average is $468.40 and its 200 day simple moving average is $496.44. Ameriprise Financial has a 52 week low of $396.14 and a 52 week high of $582.05. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 0.88. The stock has a market cap of $45.48 billion, a PE ratio of 13.42, a P/E/G ratio of 1.31 and a beta of 1.26.

Ameriprise Financial (NYSE:AMP) last posted its quarterly earnings data on Thursday, October 30th. The financial services provider reported $9.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $9.76 by $0.16. The firm had revenue of $4.73 billion during the quarter, compared to analysts’ expectations of $4.51 billion. Ameriprise Financial had a return on equity of 64.97% and a net margin of 20.12%.The company’s revenue for the quarter was up 9.0% compared to the same quarter last year. During the same period in the prior year, the business earned $9.02 EPS. As a group, research analysts expect that Ameriprise Financial will post 38.64 earnings per share for the current fiscal year.

Ameriprise Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, November 24th. Investors of record on Monday, November 10th were given a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a yield of 1.3%. The ex-dividend date was Monday, November 10th. Ameriprise Financial’s dividend payout ratio (DPR) is presently 17.55%.

Insiders Place Their Bets

In other Ameriprise Financial news, Director Robert Francis Sharpe, Jr. sold 1,500 shares of the business’s stock in a transaction that occurred on Friday, November 21st. The stock was sold at an average price of $450.94, for a total value of $676,410.00. Following the completion of the sale, the director owned 7,500 shares in the company, valued at approximately $3,382,050. The trade was a 16.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.73% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Hudson Bay Capital Management LP purchased a new stake in Ameriprise Financial during the 3rd quarter valued at $251,000. CTC Alternative Strategies Ltd. purchased a new stake in shares of Ameriprise Financial during the third quarter worth about $693,000. Swiss Life Asset Management Ltd grew its stake in shares of Ameriprise Financial by 40.4% in the third quarter. Swiss Life Asset Management Ltd now owns 35,287 shares of the financial services provider’s stock worth $17,335,000 after purchasing an additional 10,152 shares during the last quarter. Investment Research Partners LLC purchased a new position in Ameriprise Financial during the 3rd quarter valued at about $357,000. Finally, Prana Capital Management LP bought a new position in Ameriprise Financial during the 3rd quarter valued at approximately $89,695,000. 83.95% of the stock is owned by hedge funds and other institutional investors.

Ameriprise Financial Company Profile

Ameriprise Financial, Inc is a diversified financial services company headquartered in Minneapolis, Minnesota. The firm provides a range of advice-based wealth management, asset management and insurance products to individual and institutional clients. Its business model centers on delivering financial planning and investment advice through a network of financial advisors alongside proprietary product offerings designed to meet retirement, protection and accumulation needs.

Core products and services include comprehensive financial planning and advisory services, managed investment portfolios, retirement planning solutions, annuities and life insurance products.