Analysts Set Ameriprise Financial, Inc. (NYSE:AMP) Target Price at $543.22

Ameriprise Financial, Inc. (NYSE:AMP) has received a consensus rating of “Hold” from the eleven research firms that are covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, four have given a buy rating and one has given a strong buy rating to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $543.2222.

Several equities analysts have recently commented on AMP shares. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $605.00 price objective (up from $580.00) on shares of Ameriprise Financial in a research note on Monday, February 2nd. Piper Sandler boosted their price target on shares of Ameriprise Financial from $460.00 to $471.00 and gave the company a “neutral” rating in a research report on Monday, May 4th. Jefferies Financial Group boosted their price target on shares of Ameriprise Financial from $600.00 to $620.00 and gave the company a “buy” rating in a research report on Monday, February 2nd. BMO Capital Markets boosted their price target on shares of Ameriprise Financial from $470.00 to $490.00 and gave the company a “market perform” rating in a research report on Friday, April 24th. Finally, Raymond James Financial set a $582.00 price target on shares of Ameriprise Financial and gave the company a “strong-buy” rating in a research report on Wednesday, February 11th.

Insider Activity

In related news, Director Robert Francis Sharpe, Jr. sold 1,200 shares of the business’s stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $465.83, for a total transaction of $558,996.00. Following the transaction, the director owned 6,300 shares in the company, valued at $2,934,729. The trade was a 16.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Gerard P. Smyth sold 6,255 shares of the business’s stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $472.52, for a total transaction of $2,955,612.60. Following the transaction, the executive vice president owned 6,103 shares in the company, valued at $2,883,789.56. This represents a 50.61% decrease in their position. The SEC filing for this sale provides additional information. 0.60% of the stock is owned by insiders.

Hedge Funds Weigh In On Ameriprise Financial

Hedge funds and other institutional investors have recently modified their holdings of the stock. SouthState Bank Corp grew its holdings in Ameriprise Financial by 78.6% in the fourth quarter. SouthState Bank Corp now owns 50 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 22 shares during the period. Holos Integrated Wealth LLC purchased a new stake in Ameriprise Financial in the fourth quarter worth about $30,000. Cassaday & Co Wealth Management LLC purchased a new stake in Ameriprise Financial in the first quarter worth about $28,000. Redmont Wealth Advisors LLC purchased a new stake in Ameriprise Financial in the third quarter worth about $32,000. Finally, Ares Financial Consulting LLC purchased a new stake in Ameriprise Financial in the fourth quarter worth about $32,000. Hedge funds and other institutional investors own 83.95% of the company’s stock.

Ameriprise Financial Stock Performance

Shares of NYSE:AMP opened at $463.56 on Friday. The company has a market cap of $41.67 billion, a price-to-earnings ratio of 11.53, a price-to-earnings-growth ratio of 1.11 and a beta of 1.20. The company has a 50-day moving average price of $454.46 and a 200-day moving average price of $473.40. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 0.90. Ameriprise Financial has a 12 month low of $422.37 and a 12 month high of $550.18.

Ameriprise Financial (NYSE:AMP) last issued its quarterly earnings data on Thursday, April 23rd. The financial services provider reported $11.26 EPS for the quarter, beating the consensus estimate of $10.21 by $1.05. The firm had revenue of $4.77 billion during the quarter, compared to the consensus estimate of $4.82 billion. Ameriprise Financial had a net margin of 20.57% and a return on equity of 62.88%. The company’s quarterly revenue was up 9.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $9.50 earnings per share. As a group, equities analysts anticipate that Ameriprise Financial will post 42.63 EPS for the current year.

Ameriprise Financial Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 22nd. Investors of record on Monday, May 4th will be given a dividend of $1.70 per share. This is an increase from Ameriprise Financial’s previous quarterly dividend of $1.60. This represents a $6.80 annualized dividend and a dividend yield of 1.5%. The ex-dividend date is Monday, May 4th. Ameriprise Financial’s dividend payout ratio is presently 16.91%.

About Ameriprise Financial

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.