Keefe, Bruyette & Woods Issues Positive Forecast for Ameriprise Financial (NYSE:AMP) Stock Price

Ameriprise Financial (NYSE:AMP) had its price objective hoisted by Keefe, Bruyette & Woods from $560.00 to $570.00 in a report issued on Monday,Benzinga reports. They currently have a market perform rating on the financial services provider’s stock.

A number of other analysts have also recently issued reports on AMP. UBS Group cut shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and reduced their target price for the company from $580.00 to $570.00 in a research note on Monday, January 6th. Royal Bank of Canada reiterated an “outperform” rating and issued a $625.00 price objective on shares of Ameriprise Financial in a report on Monday, January 27th. Morgan Stanley increased their target price on shares of Ameriprise Financial from $440.00 to $502.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 17th. Finally, Piper Sandler boosted their price target on Ameriprise Financial from $415.00 to $442.00 and gave the stock an “underweight” rating in a research report on Friday, January 31st. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $510.44.

Ameriprise Financial Price Performance

Shares of NYSE:AMP opened at $537.72 on Monday. The firm has a market cap of $52.16 billion, a price-to-earnings ratio of 16.27, a P/E/G ratio of 1.18 and a beta of 1.36. Ameriprise Financial has a 1 year low of $385.74 and a 1 year high of $582.05. The company has a current ratio of 0.59, a quick ratio of 0.65 and a debt-to-equity ratio of 1.01. The business has a fifty day simple moving average of $546.12 and a 200 day simple moving average of $500.27.

Ameriprise Financial (NYSE:AMP) last posted its quarterly earnings results on Wednesday, January 29th. The financial services provider reported $9.36 earnings per share for the quarter, topping analysts’ consensus estimates of $9.16 by $0.20. Ameriprise Financial had a return on equity of 69.35% and a net margin of 19.70%. As a group, sell-side analysts predict that Ameriprise Financial will post 38.68 earnings per share for the current fiscal year.

Ameriprise Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Monday, February 10th will be given a dividend of $1.48 per share. The ex-dividend date of this dividend is Monday, February 10th. This represents a $5.92 annualized dividend and a dividend yield of 1.10%. Ameriprise Financial’s dividend payout ratio is presently 17.91%.

Insider Activity at Ameriprise Financial

In related news, CFO Walter Stanley Berman sold 8,655 shares of the stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $564.16, for a total value of $4,882,804.80. Following the completion of the sale, the chief financial officer now owns 6,409 shares in the company, valued at approximately $3,615,701.44. This trade represents a 57.45 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Joseph Edward Sweeney sold 10,735 shares of the business’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $549.68, for a total value of $5,900,814.80. Following the transaction, the insider now owns 5,811 shares in the company, valued at $3,194,190.48. This represents a 64.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.96% of the stock is owned by corporate insiders.

Institutional Trading of Ameriprise Financial

A number of hedge funds have recently modified their holdings of AMP. JPMorgan Chase & Co. raised its stake in shares of Ameriprise Financial by 9.1% in the third quarter. JPMorgan Chase & Co. now owns 4,285,476 shares of the financial services provider’s stock valued at $2,013,359,000 after purchasing an additional 358,699 shares in the last quarter. Geode Capital Management LLC boosted its stake in Ameriprise Financial by 1.2% during the third quarter. Geode Capital Management LLC now owns 2,609,486 shares of the financial services provider’s stock worth $1,222,943,000 after buying an additional 31,158 shares in the last quarter. Robeco Institutional Asset Management B.V. increased its holdings in Ameriprise Financial by 429.0% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 417,149 shares of the financial services provider’s stock valued at $222,103,000 after buying an additional 338,298 shares during the period. Proficio Capital Partners LLC raised its stake in shares of Ameriprise Financial by 79,679.4% in the 4th quarter. Proficio Capital Partners LLC now owns 371,772 shares of the financial services provider’s stock valued at $197,943,000 after buying an additional 371,306 shares in the last quarter. Finally, Maj Invest Holding A S lifted its holdings in shares of Ameriprise Financial by 67.5% during the 4th quarter. Maj Invest Holding A S now owns 352,095 shares of the financial services provider’s stock worth $187,466,000 after acquiring an additional 141,927 shares during the period. Institutional investors own 83.95% of the company’s stock.

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.