Ameriprise Financial, Inc. (NYSE:AMP) Receives $464.33 Average Target Price from Brokerages

Ameriprise Financial, Inc. (NYSE:AMP) has received an average rating of “Hold” from the ten analysts that are covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and five have issued a buy recommendation on the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $464.33.

Several equities analysts have recently commented on AMP shares. Jefferies Financial Group upped their target price on Ameriprise Financial from $500.00 to $504.00 and gave the company a “buy” rating in a research report on Friday, June 28th. 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. Piper Sandler decreased their target price on Ameriprise Financial from $390.00 to $387.00 and set an “underweight” rating on the stock in a research report on Friday, June 28th. UBS Group decreased their target price on Ameriprise Financial from $500.00 to $495.00 and set a “buy” rating on the stock in a research report on Tuesday, July 9th. Finally, Morgan Stanley reduced their price target on Ameriprise Financial from $444.00 to $440.00 and set an “equal weight” rating on the stock in a research report on Monday, July 29th.

Ameriprise Financial Price Performance

NYSE:AMP opened at $404.99 on Monday. The company has a quick ratio of 0.56, a current ratio of 0.59 and a debt-to-equity ratio of 1.16. The stock’s 50 day moving average price is $426.92 and its two-hundred day moving average price is $420.36. The firm has a market capitalization of $40.23 billion, a price-to-earnings ratio of 13.78, a P/E/G ratio of 0.73 and a beta of 1.37. Ameriprise Financial has a 12-month low of $306.63 and a 12-month high of $449.94.

Ameriprise Financial (NYSE:AMP) last released its quarterly earnings data on Wednesday, July 24th. The financial services provider reported $8.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $8.53 by $0.19. The firm had revenue of $4.39 billion for the quarter, compared to analyst estimates of $4.24 billion. Ameriprise Financial had a return on equity of 73.83% and a net margin of 18.64%. The business’s revenue for the quarter was up 9.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $7.44 earnings per share. On average, analysts anticipate that Ameriprise Financial will post 34.77 earnings per share for the current year.

Ameriprise Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 16th. Stockholders of record on Monday, August 5th will be paid a $1.48 dividend. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.46%. The ex-dividend date of this dividend is Monday, August 5th. Ameriprise Financial’s payout ratio is 20.15%.

Insider Activity

In other news, Director Robert Francis Sharpe, Jr. sold 1,500 shares of the stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $438.07, for a total value of $657,105.00. Following the completion of the transaction, the director now directly owns 11,000 shares in the company, valued at approximately $4,818,770. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.73% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of AMP. Norges Bank bought a new position in Ameriprise Financial during the 4th quarter worth $514,539,000. JPMorgan Chase & Co. raised its position in Ameriprise Financial by 18.6% during the 1st quarter. JPMorgan Chase & Co. now owns 3,844,165 shares of the financial services provider’s stock worth $1,685,436,000 after purchasing an additional 603,267 shares during the last quarter. First Trust Advisors LP raised its position in Ameriprise Financial by 1,001.2% during the 4th quarter. First Trust Advisors LP now owns 564,110 shares of the financial services provider’s stock worth $214,266,000 after purchasing an additional 512,884 shares during the last quarter. TD Asset Management Inc raised its position in Ameriprise Financial by 151.5% during the 4th quarter. TD Asset Management Inc now owns 595,644 shares of the financial services provider’s stock worth $226,243,000 after purchasing an additional 358,780 shares during the last quarter. Finally, Swedbank AB bought a new position in Ameriprise Financial during the 1st quarter worth $108,938,000. 83.95% of the stock is owned by institutional investors.

About Ameriprise Financial

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.