Ameriprise Financial, Inc. (NYSE:AMP) Given Consensus Rating of “Hold” by Brokerages

Ameriprise Financial, Inc. (NYSE:AMP) has received an average recommendation of “Hold” from the eleven research firms that are presently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, six have assigned a hold recommendation, three have given a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $548.4444.

Several research firms have weighed in on AMP. Weiss Ratings lowered Ameriprise Financial from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, July 2nd. Keefe, Bruyette & Woods initiated coverage on Ameriprise Financial in a report on Friday, April 10th. They issued a “hold” rating for the company. Jefferies Financial Group raised their price target on Ameriprise Financial from $636.00 to $645.00 and gave the stock a “buy” rating in a research report on Friday. Piper Sandler lifted their price objective on Ameriprise Financial from $460.00 to $471.00 and gave the company a “neutral” rating in a report on Monday, May 4th. Finally, Morgan Stanley boosted their price objective on Ameriprise Financial from $467.00 to $489.00 and gave the company an “underweight” rating in a research report on Friday.

Insider Buying and Selling at Ameriprise Financial

In other news, Director Robert Francis Sharpe, Jr. sold 1,200 shares of the stock in a transaction on Friday, May 8th. The shares were sold at an average price of $465.83, for a total transaction of $558,996.00. Following the completion of the sale, the director owned 6,300 shares of the company’s stock, valued at $2,934,729. This represents a 16.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Gerard P. Smyth sold 6,255 shares of the firm’s stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $472.52, for a total transaction of $2,955,612.60. Following the sale, the executive vice president owned 6,103 shares in the company, valued at approximately $2,883,789.56. The trade was a 50.61% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.60% of the stock is owned by corporate insiders.

Institutional Trading of Ameriprise Financial

A number of institutional investors have recently modified their holdings of AMP. SouthState Bank Corp grew its holdings in shares of Ameriprise Financial by 78.6% during the fourth quarter. SouthState Bank Corp now owns 50 shares of the financial services provider’s stock worth $25,000 after buying an additional 22 shares in the last quarter. Cassaday & Co Wealth Management LLC bought a new stake in Ameriprise Financial in the 1st quarter valued at approximately $28,000. Holos Integrated Wealth LLC bought a new stake in Ameriprise Financial in the 4th quarter valued at approximately $30,000. Ares Financial Consulting LLC acquired a new position in Ameriprise Financial during the 4th quarter worth approximately $32,000. Finally, Prosperity Bancshares Inc acquired a new position in Ameriprise Financial during the 4th quarter worth approximately $33,000. 83.95% of the stock is currently owned by institutional investors.

Ameriprise Financial Trading Up 1.5%

AMP traded up $7.53 during mid-day trading on Monday, hitting $507.69. The stock had a trading volume of 456,166 shares, compared to its average volume of 755,899. The stock’s fifty day simple moving average is $464.92 and its 200-day simple moving average is $472.97. The firm has a market capitalization of $45.64 billion, a price-to-earnings ratio of 12.63, a price-to-earnings-growth ratio of 1.04 and a beta of 1.16. Ameriprise Financial has a 1-year low of $422.37 and a 1-year high of $550.18. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.66 and a quick ratio of 0.66.

Ameriprise Financial (NYSE:AMP) last announced its quarterly earnings results on Thursday, April 23rd. The financial services provider reported $11.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $10.21 by $1.05. Ameriprise Financial had a net margin of 20.57% and a return on equity of 62.88%. The company had revenue of $4.77 billion during the quarter, compared to analyst estimates of $4.82 billion. During the same quarter in the previous year, the business earned $9.50 EPS. The firm’s revenue was up 9.7% on a year-over-year basis. As a group, research analysts forecast that Ameriprise Financial will post 43.29 EPS for the current fiscal year.

Ameriprise Financial Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 22nd. Shareholders of record on Monday, May 4th were paid a $1.70 dividend. The ex-dividend date of this dividend was Monday, May 4th. This is an increase from Ameriprise Financial’s previous quarterly dividend of $1.60. This represents a $6.80 dividend on an annualized basis and a yield of 1.3%. Ameriprise Financial’s payout ratio is presently 16.91%.

About Ameriprise Financial

Ameriprise Financial, Inc is a diversified financial services company headquartered in Minneapolis, Minnesota. The firm provides a range of advice-based wealth management, asset management and insurance products to individual and institutional clients. Its business model centers on delivering financial planning and investment advice through a network of financial advisors alongside proprietary product offerings designed to meet retirement, protection and accumulation needs.

Core products and services include comprehensive financial planning and advisory services, managed investment portfolios, retirement planning solutions, annuities and life insurance products.