Ameriprise Financial (NYSE:AMP) Reaches New 1-Year High at $446.69

Ameriprise Financial, Inc. (NYSE:AMP) reached a new 52-week high during mid-day trading on Friday . The stock traded as high as $446.69 and last traded at $446.69, with a volume of 43190 shares trading hands. The stock had previously closed at $439.82.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Evercore ISI upped their price target on shares of Ameriprise Financial from $400.00 to $445.00 and gave the company an “in-line” rating in a research report on Thursday, April 11th. Jefferies Financial Group increased their target price on shares of Ameriprise Financial from $500.00 to $504.00 and gave the stock a “buy” rating in a report on Friday, June 28th. Raymond James started coverage on shares of Ameriprise Financial in a report on Thursday, March 21st. They set a “market perform” rating for the company. Royal Bank of Canada increased their target price on shares of Ameriprise Financial from $470.00 to $480.00 and gave the stock an “outperform” rating in a report on Wednesday, April 24th. Finally, Morgan Stanley increased their target price on shares of Ameriprise Financial from $400.00 to $437.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 9th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $462.89.

Ameriprise Financial Stock Up 2.0 %

The stock’s 50 day simple moving average is $432.29 and its two-hundred day simple moving average is $413.93. The firm has a market cap of $44.56 billion, a P/E ratio of 15.22, a P/E/G ratio of 0.75 and a beta of 1.37. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.56 and a quick ratio of 0.56.

Ameriprise Financial (NYSE:AMP) last announced its earnings results on Wednesday, April 24th. The financial services provider reported $8.39 earnings per share for the quarter, beating analysts’ consensus estimates of $8.10 by $0.29. Ameriprise Financial had a net margin of 19.42% and a return on equity of 75.97%. The business had revenue of $4.15 billion during the quarter, compared to the consensus estimate of $4.15 billion. During the same quarter last year, the firm earned $7.25 earnings per share. The business’s revenue for the quarter was up 10.8% on a year-over-year basis. As a group, research analysts forecast that Ameriprise Financial, Inc. will post 34.93 earnings per share for the current year.

Ameriprise Financial Increases Dividend

The firm also recently announced 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. This is an increase from Ameriprise Financial’s previous quarterly dividend of $1.35. The ex-dividend date was Friday, May 3rd. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.32%. Ameriprise Financial’s dividend payout ratio (DPR) is currently 20.15%.

Insider Buying and Selling at Ameriprise Financial

In related news, Director Robert Francis Sharpe, Jr. sold 1,500 shares of the firm’s stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $438.07, for a total transaction 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 through this hyperlink. Insiders own 0.73% of the company’s stock.

Institutional Investors Weigh In On Ameriprise Financial

A number of large investors have recently added to or reduced their stakes in AMP. EP Wealth Advisors LLC grew its position in Ameriprise Financial by 8.4% in the 3rd quarter. EP Wealth Advisors LLC now owns 1,553 shares of the financial services provider’s stock worth $512,000 after purchasing an additional 120 shares during the period. Modera Wealth Management LLC boosted its stake in shares of Ameriprise Financial by 6.9% during the 3rd quarter. Modera Wealth Management LLC now owns 1,324 shares of the financial services provider’s stock worth $436,000 after acquiring an additional 86 shares during the last quarter. Wellington Management Group LLP boosted its stake in shares of Ameriprise Financial by 4.8% during the 3rd quarter. Wellington Management Group LLP now owns 5,528 shares of the financial services provider’s stock worth $1,822,000 after acquiring an additional 251 shares during the last quarter. B. Riley Wealth Advisors Inc. boosted its stake in shares of Ameriprise Financial by 16.4% during the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 4,238 shares of the financial services provider’s stock worth $1,397,000 after acquiring an additional 598 shares during the last quarter. Finally, Citigroup Inc. boosted its stake in shares of Ameriprise Financial by 3.7% during the 3rd quarter. Citigroup Inc. now owns 164,852 shares of the financial services provider’s stock worth $54,348,000 after acquiring an additional 5,958 shares during the last quarter. 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.