Ameriprise Financial, Inc. (NYSE:AMP) Receives $555.67 Consensus Price Target from Analysts

Ameriprise Financial, Inc. (NYSE:AMP) has been assigned an average recommendation of “Hold” from the eleven ratings firms that are currently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, five have issued a hold rating, four have issued a buy rating and one has issued a strong buy rating on the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $555.6667.

A number of research analysts recently commented on the company. Keefe, Bruyette & Woods reduced their price target on Ameriprise Financial from $550.00 to $530.00 and set a “market perform” rating for the company in a report on Monday, November 3rd. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $605.00 target price (up from $580.00) on shares of Ameriprise Financial in a research report on Monday, February 2nd. Morgan Stanley increased their target price on Ameriprise Financial from $484.00 to $485.00 and gave the company an “underweight” rating in a research note on Monday, December 22nd. Weiss Ratings restated a “buy (b-)” rating on shares of Ameriprise Financial in a research note on Monday, December 29th. Finally, Piper Sandler raised shares of Ameriprise Financial from an “underweight” rating to a “neutral” rating and upped their price target for the company from $434.00 to $530.00 in a report on Friday, January 30th.

Insider Buying and Selling

In related news, Director Robert Francis Sharpe, Jr. sold 1,500 shares of Ameriprise Financial stock in a transaction dated 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 transaction, the director directly owned 7,500 shares in the company, valued at approximately $3,382,050. This trade represents a 16.67% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.57% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Brighton Jones LLC boosted its holdings in Ameriprise Financial by 6.9% in the fourth quarter. Brighton Jones LLC now owns 777 shares of the financial services provider’s stock worth $413,000 after purchasing an additional 50 shares during the period. Empowered Funds LLC lifted its position in shares of Ameriprise Financial by 11.8% in the 1st quarter. Empowered Funds LLC now owns 6,022 shares of the financial services provider’s stock worth $2,915,000 after buying an additional 634 shares during the last quarter. Sivia Capital Partners LLC boosted its holdings in shares of Ameriprise Financial by 14.1% in the 2nd quarter. Sivia Capital Partners LLC now owns 584 shares of the financial services provider’s stock valued at $312,000 after buying an additional 72 shares during the period. KLP Kapitalforvaltning AS boosted its holdings in shares of Ameriprise Financial by 3.3% in the 2nd quarter. KLP Kapitalforvaltning AS now owns 34,519 shares of the financial services provider’s stock valued at $18,424,000 after buying an additional 1,100 shares during the period. Finally, Shell Asset Management Co. grew its position in shares of Ameriprise Financial by 34.1% during the 2nd quarter. Shell Asset Management Co. now owns 4,275 shares of the financial services provider’s stock valued at $2,282,000 after buying an additional 1,088 shares during the last quarter. Institutional investors and hedge funds own 83.95% of the company’s stock.

Ameriprise Financial Price Performance

AMP opened at $543.46 on Friday. Ameriprise Financial has a twelve month low of $396.14 and a twelve month high of $552.43. The firm has a market cap of $50.49 billion, a price-to-earnings ratio of 14.95, a PEG ratio of 1.27 and a beta of 1.26. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 0.86. The company has a fifty day simple moving average of $499.62 and a 200 day simple moving average of $491.68.

Ameriprise Financial (NYSE:AMP) last issued its quarterly earnings data on Thursday, January 29th. The financial services provider reported $10.83 EPS for the quarter, topping analysts’ consensus estimates of $10.33 by $0.50. The firm had revenue of $4.90 billion for the quarter, compared to analyst estimates of $4.75 billion. Ameriprise Financial had a net margin of 19.28% and a return on equity of 63.04%. The firm’s revenue was up 10.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $9.54 EPS. Equities research analysts expect that Ameriprise Financial will post 38.64 EPS for the current fiscal year.

Ameriprise Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 27th. Stockholders of record on Monday, February 9th will be paid a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date is Monday, February 9th. Ameriprise Financial’s dividend payout ratio is 17.60%.

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.