Ameriprise Financial (NYSE:AMP) Hits New 1-Year High – Time to Buy?

Ameriprise Financial, Inc. (NYSE:AMP) shares hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $540.10 and last traded at $540.10, with a volume of 2707 shares trading hands. The stock had previously closed at $513.95.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. UBS Group raised their price target on shares of Ameriprise Financial from $490.00 to $555.00 and gave the stock a “buy” rating in a research note on Tuesday, October 8th. Morgan Stanley raised 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. Keefe, Bruyette & Woods lifted their price target on shares of Ameriprise Financial from $475.00 to $510.00 and gave the company a “market perform” rating in a research note on Tuesday, October 29th. Royal Bank of Canada increased their price objective on Ameriprise Financial from $535.00 to $550.00 and gave the stock an “outperform” rating in a research note on Friday, October 25th. Finally, The Goldman Sachs Group lowered Ameriprise Financial from a “buy” rating to a “neutral” rating and decreased their target price for the company from $485.00 to $476.00 in a research report on Thursday, September 26th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $487.67.

Ameriprise Financial Stock Performance

The company has a current ratio of 0.65, a quick ratio of 0.59 and a debt-to-equity ratio of 0.99. The stock has a market cap of $53.55 billion, a PE ratio of 21.19, a P/E/G ratio of 0.88 and a beta of 1.34. The business’s 50-day moving average price is $484.45 and its 200-day moving average price is $447.43.

Ameriprise Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Monday, November 4th will be issued a $1.48 dividend. This represents a $5.92 annualized dividend and a yield of 1.07%. The ex-dividend date of this dividend is Monday, November 4th. Ameriprise Financial’s dividend payout ratio is currently 22.73%.

Insider Activity

In related news, insider Gumer Alvero sold 2,325 shares of the business’s stock in a transaction on Thursday, October 31st. The stock was sold at an average price of $516.05, for a total transaction of $1,199,816.25. Following the transaction, the insider now directly owns 4,669 shares in the company, valued at $2,409,437.45. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, insider Gumer Alvero sold 2,325 shares of the business’s stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $516.05, for a total transaction of $1,199,816.25. Following the sale, the insider now directly owns 4,669 shares of the company’s stock, valued at $2,409,437.45. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP William Davies sold 8,700 shares of the firm’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $442.07, for a total value of $3,846,009.00. Following the completion of the transaction, the vice president now owns 13,199 shares of the company’s stock, valued at $5,834,881.93. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.96% of the company’s stock.

Institutional Investors Weigh In On Ameriprise Financial

A number of large investors have recently bought and sold shares of the company. DiNuzzo Private Wealth Inc. boosted its holdings in shares of Ameriprise Financial by 268.8% in the 2nd quarter. DiNuzzo Private Wealth Inc. now owns 59 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 43 shares during the last quarter. Accordant Advisory Group Inc purchased a new stake in Ameriprise Financial in the second quarter valued at $26,000. Mascoma Wealth Management LLC grew its position in Ameriprise Financial by 153.8% during the 2nd quarter. Mascoma Wealth Management LLC now owns 66 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 40 shares during the period. Bank & Trust Co acquired a new stake in Ameriprise Financial during the 2nd quarter worth about $29,000. Finally, Oakworth Capital Inc. purchased a new position in shares of Ameriprise Financial during the 3rd quarter valued at about $31,000. Hedge funds and other 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.