Analysts Set Ameriprise Financial, Inc. (NYSE:AMP) Target Price at $555.33

Shares of Ameriprise Financial, Inc. (NYSE:AMP) have been assigned an average rating of “Moderate Buy” from the eleven brokerages that are presently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, four have given a buy rating and two have 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 $555.3333.

AMP has been the topic of a number of recent research reports. Keefe, Bruyette & Woods upped their target price on shares of Ameriprise Financial from $515.00 to $545.00 and gave the company a “market perform” rating in a report on Friday, July 24th. Morgan Stanley lifted their price target on shares of Ameriprise Financial from $467.00 to $489.00 and gave the stock an “underweight” rating in a report on Friday, July 10th. Jefferies Financial Group boosted their price objective on shares of Ameriprise Financial from $636.00 to $645.00 and gave the company a “buy” rating in a research report on Friday, July 10th. Weiss Ratings raised shares of Ameriprise Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, July 17th. Finally, Zacks Research upgraded shares of Ameriprise Financial from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 27th.

Ameriprise Financial Price Performance

Shares of NYSE:AMP opened at $556.15 on Tuesday. The business’s fifty day moving average price is $525.04 and its two-hundred day moving average price is $482.26. The stock has a market cap of $50.00 billion, a PE ratio of 13.41, a price-to-earnings-growth ratio of 0.75 and a beta of 1.14. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.71 and a current ratio of 0.71. Ameriprise Financial has a one year low of $422.37 and a one year high of $572.56.

Ameriprise Financial (NYSE:AMP) last released its quarterly earnings results on Thursday, July 23rd. The financial services provider reported $11.07 earnings per share for the quarter, topping analysts’ consensus estimates of $10.81 by $0.26. The company had revenue of $4.90 billion during the quarter, compared to analysts’ expectations of $4.87 billion. Ameriprise Financial had a return on equity of 64.19% and a net margin of 20.24%.The business’s revenue for the quarter was up 11.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $9.11 earnings per share. On average, analysts forecast that Ameriprise Financial will post 46.27 EPS for the current fiscal year.

Ameriprise Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 21st. Stockholders of record on Monday, August 3rd were issued a dividend of $1.70 per share. The ex-dividend date was Monday, August 3rd. This represents a $6.80 annualized dividend and a dividend yield of 1.2%. Ameriprise Financial’s dividend payout ratio (DPR) is 16.40%.

Insiders Place Their Bets

In related news, EVP Deirdre Davey Mcgraw sold 2,400 shares of the company’s stock in a transaction on Thursday, August 6th. The stock was sold at an average price of $558.28, for a total value of $1,339,872.00. Following the completion of the transaction, the executive vice president directly owned 3,373 shares in the company, valued at approximately $1,883,078.44. This represents a 41.57% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Dawn M. Brockman sold 472 shares of the company’s stock in a transaction on Monday, August 10th. The shares were sold at an average price of $558.93, for a total value of $263,814.96. Following the completion of the transaction, the senior vice president owned 713 shares of the company’s stock, valued at $398,517.09. The trade was a 39.83% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 29,988 shares of company stock worth $16,316,497 in the last three months. Company insiders own 0.60% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. California State Teachers Retirement System increased its position in Ameriprise Financial by 47,323.5% during the second quarter. California State Teachers Retirement System now owns 63,911,691 shares of the financial services provider’s stock worth $29,320,127,000 after purchasing an additional 63,776,923 shares during the last quarter. State Street Corp boosted its holdings in shares of Ameriprise Financial by 0.4% in the 3rd quarter. State Street Corp now owns 4,420,072 shares of the financial services provider’s stock valued at $2,171,360,000 after purchasing an additional 18,879 shares during the last quarter. Norges Bank purchased a new stake in shares of Ameriprise Financial during the 4th quarter valued at $742,438,000. Boston Partners grew its stake in shares of Ameriprise Financial by 1.1% during the 3rd quarter. Boston Partners now owns 1,193,048 shares of the financial services provider’s stock valued at $586,083,000 after buying an additional 13,172 shares during the period. Finally, AQR Capital Management LLC increased its holdings in shares of Ameriprise Financial by 84.2% during the 4th quarter. AQR Capital Management LLC now owns 1,085,889 shares of the financial services provider’s stock worth $532,455,000 after buying an additional 496,319 shares during the last quarter. 83.95% of the stock is currently owned by hedge funds and other institutional investors.

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.