Brokerages Set Ameriprise Financial, Inc. (NYSE:AMP) Target Price at $533.22

Ameriprise Financial, Inc. (NYSE:AMP) has received a consensus recommendation of “Hold” from the eleven ratings firms that are covering the stock, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, five have given a hold recommendation, three have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year target price among brokers that have covered the stock in the last year is $533.2222.

A number of research firms have commented on AMP. Evercore ISI lowered their target price on shares of Ameriprise Financial from $587.00 to $570.00 and set an “in-line” rating for the company in a report on Thursday, October 9th. Morgan Stanley decreased their price objective on Ameriprise Financial from $530.00 to $484.00 and set an “underweight” rating for the company in a research note on Wednesday, October 1st. Argus cut their target price on Ameriprise Financial from $568.00 to $554.00 and set a “buy” rating on the stock in a research note on Thursday, November 13th. 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 on the stock. Finally, Royal Bank Of Canada decreased their target price on Ameriprise Financial from $601.00 to $550.00 and set an “outperform” rating for the company in a research report on Monday, November 3rd.

Insider Activity at Ameriprise Financial

In other news, EVP Heather J. Melloh sold 1,500 shares of the business’s stock in a transaction on Thursday, September 4th. The shares were sold at an average price of $512.34, for a total value of $768,510.00. Following the completion of the transaction, the executive vice president owned 2,562 shares of the company’s stock, valued at $1,312,615.08. The trade was a 36.93% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Robert Francis Sharpe, Jr. sold 1,500 shares of the company’s stock in a transaction on Friday, November 21st. The shares were sold at an average price of $450.94, for a total transaction of $676,410.00. Following the completion of the sale, the director owned 7,500 shares of the company’s stock, valued at approximately $3,382,050. This represents a 16.67% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.73% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Whipplewood Advisors LLC raised its position in shares of Ameriprise Financial by 71.0% during the second quarter. Whipplewood Advisors LLC now owns 53 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 22 shares during the period. TD Capital Management LLC increased its stake 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 worth $29,000 after purchasing an additional 51 shares in the last quarter. Wealth Preservation Advisors LLC bought a new stake in Ameriprise Financial during the 1st quarter worth approximately $29,000. Salomon & Ludwin LLC raised 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 worth $30,000 after buying an additional 30 shares during the period. Finally, Winnow Wealth LLC bought a new position in Ameriprise Financial in the second quarter valued at approximately $32,000. 83.95% of the stock is owned by institutional investors and hedge funds.

Ameriprise Financial Stock Performance

Shares of NYSE:AMP opened at $455.74 on Friday. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 0.95. Ameriprise Financial has a 1-year low of $396.14 and a 1-year high of $582.05. The stock has a market capitalization of $42.34 billion, a P/E ratio of 14.18, a P/E/G ratio of 1.07 and a beta of 1.28. The business has a 50-day moving average price of $471.66 and a two-hundred day moving average price of $499.83.

Ameriprise Financial (NYSE:AMP) last issued its quarterly earnings results on Thursday, October 30th. The financial services provider reported $9.92 EPS for the quarter, topping the consensus estimate of $9.76 by $0.16. The company had revenue of $4.73 billion during the quarter, compared to analysts’ expectations of $4.51 billion. Ameriprise Financial had a net margin of 18.30% and a return on equity of 65.90%. Ameriprise Financial’s revenue was up 9.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $9.02 EPS. Equities analysts predict that Ameriprise Financial will post 38.64 earnings per share for the current year.

Ameriprise Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, November 24th. Investors of record on Monday, November 10th were issued a dividend of $1.60 per share. The ex-dividend date was Monday, November 10th. This represents a $6.40 dividend on an annualized basis and a yield of 1.4%. Ameriprise Financial’s payout ratio is currently 17.55%.

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.