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

Ameriprise Financial, Inc. (NYSE:AMP) has received an average recommendation of “Hold” from the ten analysts that are presently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, five have issued a hold recommendation and four have given a buy recommendation to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $463.00.

A number of equities research analysts have commented on the company. Keefe, Bruyette & Woods reduced their target price on Ameriprise Financial from $470.00 to $460.00 and set a “market perform” rating on the stock in a research report on Tuesday, July 30th. UBS Group dropped their price objective on Ameriprise Financial from $500.00 to $495.00 and set a “buy” rating for the company in a research note on Tuesday, July 9th. The Goldman Sachs Group cut Ameriprise Financial from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $485.00 to $476.00 in a research note on Thursday, September 26th. Royal Bank of Canada lifted their price objective on Ameriprise Financial from $487.00 to $500.00 and gave the company an “outperform” rating in a research note on Tuesday, July 30th. Finally, Jefferies Financial Group lifted their price objective on Ameriprise Financial from $500.00 to $504.00 and gave the company a “buy” rating in a research note on Friday, June 28th.

Ameriprise Financial Stock Performance

Shares of Ameriprise Financial stock opened at $469.81 on Tuesday. Ameriprise Financial has a one year low of $306.63 and a one year high of $471.57. The company has a market cap of $46.66 billion, a price-to-earnings ratio of 15.99, a PEG ratio of 0.80 and a beta of 1.35. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.59 and a current ratio of 0.59. The business’s 50 day moving average price is $435.13 and its 200 day moving average price is $430.89.

Ameriprise Financial (NYSE:AMP) last posted its earnings results on Wednesday, July 24th. The financial services provider reported $8.72 EPS for the quarter, beating analysts’ consensus estimates of $8.53 by $0.19. Ameriprise Financial had a return on equity of 73.83% and a net margin of 18.64%. The company had revenue of $4.39 billion for the quarter, compared to the consensus estimate of $4.24 billion. During the same quarter in the previous year, the business earned $7.44 earnings per share. The company’s revenue for the quarter was up 9.6% on a year-over-year basis. On average, research analysts predict that Ameriprise Financial will post 34.81 EPS for the current year.

Ameriprise Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 16th. Investors of record on Monday, August 5th were paid a dividend of $1.48 per share. The ex-dividend date was Monday, August 5th. This represents a $5.92 annualized dividend and a yield of 1.26%. Ameriprise Financial’s payout ratio is 20.15%.

Insider Buying and Selling

In related news, VP William Davies sold 8,700 shares of the business’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $442.07, for a total transaction of $3,846,009.00. Following the completion of the transaction, the vice president now directly owns 13,199 shares of the company’s stock, valued at approximately $5,834,881.93. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.73% of the stock is currently owned by insiders.

Institutional Trading of Ameriprise Financial

Institutional investors have recently bought and sold shares of the business. Empirical Finance LLC lifted its holdings in Ameriprise Financial by 3.0% during the 1st quarter. Empirical Finance LLC now owns 3,896 shares of the financial services provider’s stock worth $1,708,000 after buying an additional 113 shares during the last quarter. Nomura Holdings Inc. purchased a new stake in Ameriprise Financial during the 4th quarter worth about $775,000. State Board of Administration of Florida Retirement System lifted its holdings in Ameriprise Financial by 7.9% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 118,211 shares of the financial services provider’s stock worth $51,828,000 after buying an additional 8,693 shares during the last quarter. TD Asset Management Inc lifted its holdings 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 buying an additional 358,780 shares during the last quarter. Finally, BDF Gestion purchased a new stake in Ameriprise Financial during the 2nd quarter worth about $2,836,000. 83.95% of the stock is owned by hedge funds and other institutional investors.

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.