Ameriprise Financial, Inc. (NYSE:AMP) Receives $494.89 Consensus Target Price from Analysts

Shares of Ameriprise Financial, Inc. (NYSE:AMP) have received an average rating of “Hold” from the ten research firms that are covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $509.33.

A number of brokerages have weighed in on AMP. Piper Sandler lifted their price target on shares of Ameriprise Financial from $415.00 to $442.00 and gave the company an “underweight” rating in a research report on Friday. UBS Group lowered Ameriprise Financial from a “buy” rating to a “neutral” rating and cut their target price for the company from $580.00 to $570.00 in a research report on Monday, January 6th. Royal Bank of Canada restated an “outperform” rating and set a $625.00 price target on shares of Ameriprise Financial in a research report on Monday, January 27th. Keefe, Bruyette & Woods cut their price objective on Ameriprise Financial from $565.00 to $560.00 and set a “market perform” rating on the stock in a report on Friday, January 10th. Finally, Morgan Stanley raised their target price on Ameriprise Financial from $440.00 to $502.00 and gave the company an “equal weight” rating in a report on Thursday, October 17th.

Insider Buying and Selling

In other Ameriprise Financial news, CFO Walter Stanley Berman sold 8,655 shares of the company’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $564.16, for a total transaction of $4,882,804.80. Following the transaction, the chief financial officer now directly owns 6,409 shares in the company, valued at approximately $3,615,701.44. This represents a 57.45 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Joseph Edward Sweeney sold 10,735 shares of Ameriprise Financial stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $549.68, for a total transaction of $5,900,814.80. Following the sale, the insider now owns 5,811 shares of the company’s stock, valued at approximately $3,194,190.48. The trade was a 64.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.73% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Ameriprise Financial

A number of hedge funds have recently made changes to their positions in AMP. Czech National Bank grew its stake in Ameriprise Financial by 5.2% during the fourth quarter. Czech National Bank now owns 21,035 shares of the financial services provider’s stock worth $11,200,000 after buying an additional 1,033 shares during the period. Bridgewater Associates LP lifted its stake in shares of Ameriprise Financial by 97.8% during the third quarter. Bridgewater Associates LP now owns 50,510 shares of the financial services provider’s stock worth $23,730,000 after purchasing an additional 24,968 shares in the last quarter. Empowered Funds LLC boosted its position in shares of Ameriprise Financial by 19.9% in the third quarter. Empowered Funds LLC now owns 8,021 shares of the financial services provider’s stock worth $3,768,000 after buying an additional 1,329 shares during the period. SpiderRock Advisors LLC raised its holdings in shares of Ameriprise Financial by 136.3% during the 3rd quarter. SpiderRock Advisors LLC now owns 3,237 shares of the financial services provider’s stock valued at $1,521,000 after buying an additional 1,867 shares during the period. Finally, Aljian Capital Management LLC acquired a new position in Ameriprise Financial during the 3rd quarter worth approximately $458,000. Institutional investors and hedge funds own 83.95% of the company’s stock.

Ameriprise Financial Stock Performance

NYSE AMP opened at $542.83 on Monday. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.65 and a quick ratio of 0.65. Ameriprise Financial has a 1-year low of $378.05 and a 1-year high of $582.05. The company has a market cap of $52.66 billion, a PE ratio of 16.42, a price-to-earnings-growth ratio of 0.87 and a beta of 1.36. The stock’s 50 day simple moving average is $548.14 and its 200-day simple moving average is $496.86.

Ameriprise Financial (NYSE:AMP) last posted its earnings results on Wednesday, January 29th. The financial services provider reported $9.36 earnings per share for the quarter, beating the consensus estimate of $9.16 by $0.20. Ameriprise Financial had a net margin of 19.70% and a return on equity of 69.46%. As a group, equities research analysts anticipate that Ameriprise Financial will post 39.04 EPS for the current fiscal year.

Ameriprise Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Monday, February 10th will be paid a dividend of $1.48 per share. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.09%. The ex-dividend date is Monday, February 10th. Ameriprise Financial’s dividend payout ratio (DPR) is 17.91%.

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.