Ameriprise Financial’s (AMP) Buy (B) Rating Reiterated at Weiss Ratings

Weiss Ratings reaffirmed their buy (b) rating on shares of Ameriprise Financial (NYSE:AMP) in a research report released on Wednesday,Weiss Ratings reports.

AMP has been the subject of a number of other research reports. BMO Capital Markets initiated coverage on Ameriprise Financial in a report on Friday, October 3rd. They set a “market perform” rating and a $525.00 target price for the company. Morgan Stanley reduced their price objective on shares of Ameriprise Financial from $530.00 to $484.00 and set an “underweight” rating for the company in a research note on Wednesday, October 1st. William Blair lowered shares of Ameriprise Financial from an “outperform” rating to a “market perform” rating in a research report on Friday, July 25th. Keefe, Bruyette & Woods boosted their price target on shares of Ameriprise Financial from $520.00 to $550.00 and gave the company a “market perform” rating in a research report on Wednesday, July 9th. Finally, Royal Bank Of Canada boosted their price target on shares of Ameriprise Financial from $595.00 to $601.00 and gave the company an “outperform” rating in a research report on Wednesday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $539.50.

Ameriprise Financial Stock Performance

NYSE:AMP opened at $479.75 on Wednesday. The business has a fifty day simple moving average of $500.39 and a two-hundred day simple moving average of $501.73. Ameriprise Financial has a 1 year low of $396.14 and a 1 year high of $582.05. The company has a market capitalization of $45.23 billion, a P/E ratio of 14.93, a P/E/G ratio of 1.10 and a beta of 1.26. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.62 and a quick ratio of 0.62.

Ameriprise Financial (NYSE:AMP) last released its quarterly earnings data on Thursday, July 24th. The financial services provider reported $9.11 earnings per share for the quarter, beating analysts’ consensus estimates of $9.00 by $0.11. The business had revenue of $4.49 billion during the quarter, compared to analyst estimates of $4.33 billion. Ameriprise Financial had a net margin of 18.30% and a return on equity of 65.90%. Ameriprise Financial’s revenue was up 2.2% compared to the same quarter last year. During the same period in the previous year, the business earned $8.72 EPS. On average, analysts expect that Ameriprise Financial will post 38.64 earnings per share for the current year.

Ameriprise Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, August 18th. Investors of record on Monday, August 4th were given a $1.60 dividend. The ex-dividend date was Monday, August 4th. This represents a $6.40 annualized dividend and a yield of 1.3%. Ameriprise Financial’s payout ratio is 19.91%.

Insider Transactions at Ameriprise Financial

In other Ameriprise Financial news, EVP Heather J. Melloh sold 1,500 shares of the company’s stock in a transaction that occurred on Thursday, September 4th. The stock was sold at an average price of $512.34, for a total value of $768,510.00. Following the completion of the sale, the executive vice president owned 2,562 shares of the company’s stock, valued at $1,312,615.08. This represents a 36.93% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO William F. Truscott sold 9,929 shares of the company’s stock in a transaction that occurred on Tuesday, August 19th. The stock was sold at an average price of $506.89, for a total value of $5,032,910.81. Following the completion of the sale, the chief executive officer directly owned 11,047 shares of the company’s stock, valued at approximately $5,599,613.83. This represents a 47.34% decrease in their position. The disclosure for this sale can be found here. 0.73% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Ameriprise Financial

A number of institutional investors have recently made changes to their positions in AMP. Whipplewood Advisors LLC boosted its position in Ameriprise Financial by 71.0% during the second quarter. Whipplewood Advisors LLC now owns 53 shares of the financial services provider’s stock valued at $28,000 after buying an additional 22 shares during the period. TD Capital Management LLC boosted its holdings in Ameriprise Financial by 566.7% during the 1st quarter. TD Capital Management LLC now owns 60 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 51 shares during the period. Wealth Preservation Advisors LLC purchased a new stake in Ameriprise Financial during the 1st quarter valued at about $29,000. Salomon & Ludwin LLC boosted its holdings in Ameriprise Financial by 115.4% during the 2nd quarter. Salomon & Ludwin LLC now owns 56 shares of the financial services provider’s stock valued at $30,000 after acquiring an additional 30 shares during the period. Finally, Winnow Wealth LLC purchased a new stake in Ameriprise Financial during the 2nd quarter valued at about $32,000. Hedge funds and other institutional investors own 83.95% of the company’s stock.

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.