Ameriprise Financial (NYSE:AMP) Given New $387.00 Price Target at Piper Sandler

Ameriprise Financial (NYSE:AMP) had its price objective reduced by Piper Sandler from $390.00 to $387.00 in a report issued on Friday morning, Benzinga reports. They currently have an underweight rating on the financial services provider’s stock.

Several other analysts also recently weighed in on AMP. The Goldman Sachs Group boosted their target price on shares of Ameriprise Financial from $437.00 to $488.00 and gave the stock a buy rating in a research report on Wednesday, March 27th. Argus upped their target price on Ameriprise Financial from $440.00 to $460.00 and gave the company a buy rating in a research report on Monday, May 6th. Keefe, Bruyette & Woods lifted their price target on Ameriprise Financial from $420.00 to $460.00 and gave the stock a market perform rating in a research report on Wednesday, April 10th. Morgan Stanley increased their price objective on Ameriprise Financial from $400.00 to $437.00 and gave the company an equal weight rating in a report on Tuesday, April 9th. Finally, Raymond James initiated coverage on Ameriprise Financial in a report on Thursday, March 21st. They set a market perform rating for the company. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, Ameriprise Financial currently has an average rating of Hold and an average price target of $456.22.

Ameriprise Financial Stock Performance

Shares of AMP opened at $427.19 on Friday. Ameriprise Financial has a 12 month low of $306.63 and a 12 month high of $446.32. The stock has a fifty day moving average price of $428.66 and a 200-day moving average price of $410.88. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 1.13. The firm has a market cap of $42.43 billion, a PE ratio of 14.54, a P/E/G ratio of 0.73 and a beta of 1.36.

Ameriprise Financial (NYSE:AMP) last released its quarterly earnings results on Wednesday, April 24th. The financial services provider reported $8.39 EPS 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 company had revenue of $4.15 billion during the quarter, compared to analysts’ expectations of $4.15 billion. During the same period last year, the business posted $7.25 earnings per share. The firm’s revenue was up 10.8% compared to the same quarter last year. Equities research analysts predict that Ameriprise Financial will post 34.95 earnings per share for the current fiscal year.

Ameriprise Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 17th. Shareholders of record on Monday, May 6th were paid a dividend of $1.48 per share. The ex-dividend date was Friday, May 3rd. This represents a $5.92 dividend on an annualized basis and a yield of 1.39%. This is a positive change from Ameriprise Financial’s previous quarterly dividend of $1.35. Ameriprise Financial’s payout ratio is 20.15%.

Insiders Place Their Bets

In related news, Director Robert Francis Sharpe, Jr. sold 1,500 shares of the company’s stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $438.07, for a total value of $657,105.00. Following the completion of the sale, the director now owns 11,000 shares of the company’s stock, valued at $4,818,770. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.73% of the company’s stock.

Institutional Investors Weigh In On Ameriprise Financial

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Signaturefd LLC increased its position in shares of Ameriprise Financial by 1.1% during the 1st quarter. Signaturefd LLC now owns 2,296 shares of the financial services provider’s stock worth $1,007,000 after purchasing an additional 26 shares during the last quarter. Aua Capital Management LLC increased its position in shares of Ameriprise Financial by 4.7% during the first quarter. Aua Capital Management LLC now owns 604 shares of the financial services provider’s stock valued at $265,000 after acquiring an additional 27 shares during the last quarter. Gratus Wealth Advisors LLC lifted its holdings in shares of Ameriprise Financial by 1.5% in the 1st quarter. Gratus Wealth Advisors LLC now owns 1,887 shares of the financial services provider’s stock worth $779,000 after acquiring an additional 27 shares during the last quarter. Resonant Capital Advisors LLC boosted its position in shares of Ameriprise Financial by 4.7% during the 1st quarter. Resonant Capital Advisors LLC now owns 619 shares of the financial services provider’s stock worth $271,000 after purchasing an additional 28 shares during the period. Finally, PDS Planning Inc increased its holdings in Ameriprise Financial by 3.7% in the 1st quarter. PDS Planning Inc now owns 775 shares of the financial services provider’s stock valued at $340,000 after purchasing an additional 28 shares during the last quarter. Hedge funds and other institutional investors own 83.95% of the company’s stock.

Ameriprise Financial Company Profile

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.