Jefferies Financial Group Raises Ameriprise Financial (NYSE:AMP) Price Target to $504.00

Ameriprise Financial (NYSE:AMP) had its price objective increased by Jefferies Financial Group from $500.00 to $504.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage currently has a buy rating on the financial services provider’s stock.

AMP has been the subject of a number of other research reports. Argus increased their price objective on Ameriprise Financial from $440.00 to $460.00 and gave the company a buy rating in a research note on Monday, May 6th. The Goldman Sachs Group raised their price target on shares of Ameriprise Financial from $437.00 to $488.00 and gave the stock a buy rating in a report on Wednesday, March 27th. Keefe, Bruyette & Woods upped their price objective on shares of Ameriprise Financial from $420.00 to $460.00 and gave the company a market perform rating in a research note on Wednesday, April 10th. Royal Bank of Canada raised their target price on Ameriprise Financial from $470.00 to $480.00 and gave the stock an outperform rating in a research note on Wednesday, April 24th. Finally, Raymond James assumed coverage on Ameriprise Financial in a research report on Thursday, March 21st. They set a market perform rating for the company. One analyst has rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, Ameriprise Financial presently has a consensus rating of Hold and an average target price of $456.22.

Ameriprise Financial Price Performance

Shares of Ameriprise Financial stock opened at $427.71 on Friday. The stock has a market capitalization of $42.48 billion, a price-to-earnings ratio of 14.56, a price-to-earnings-growth ratio of 0.74 and a beta of 1.36. The company has a fifty day moving average of $428.66 and a 200-day moving average of $410.32. Ameriprise Financial has a 52-week low of $306.63 and a 52-week high of $446.32. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.56 and a current ratio of 0.56.

Ameriprise Financial (NYSE:AMP) last announced its quarterly earnings data on Wednesday, April 24th. The financial services provider reported $8.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $8.10 by $0.29. Ameriprise Financial had a return on equity of 75.97% and a net margin of 19.42%. The firm had revenue of $4.15 billion for the quarter, compared to analysts’ expectations of $4.15 billion. During the same period last year, the firm earned $7.25 earnings per share. The company’s revenue for the quarter was up 10.8% compared to the same quarter last year. Equities research analysts expect that Ameriprise Financial will post 34.95 EPS for the current year.

Ameriprise Financial Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 17th. Stockholders of record on Monday, May 6th were issued a dividend of $1.48 per share. This represents a $5.92 annualized dividend and a dividend yield of 1.38%. This is a positive change from Ameriprise Financial’s previous quarterly dividend of $1.35. The ex-dividend date of this dividend was Friday, May 3rd. Ameriprise Financial’s dividend payout ratio (DPR) is presently 20.15%.

Insider Activity at Ameriprise Financial

In other Ameriprise Financial news, Director Robert Francis Sharpe, Jr. sold 1,500 shares of the business’s stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $438.07, for a total value of $657,105.00. Following the sale, the director now directly owns 11,000 shares of the company’s stock, valued at $4,818,770. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.73% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Ameriprise Financial

Institutional investors have recently made changes to their positions in the company. American Trust purchased a new stake in Ameriprise Financial during the 1st quarter valued at $350,000. Railway Pension Investments Ltd boosted its position in shares of Ameriprise Financial by 5.8% during the first quarter. Railway Pension Investments Ltd now owns 12,800 shares of the financial services provider’s stock valued at $5,612,000 after buying an additional 700 shares during the last quarter. DekaBank Deutsche Girozentrale boosted its position in shares of Ameriprise Financial by 21.3% during the first quarter. DekaBank Deutsche Girozentrale now owns 59,400 shares of the financial services provider’s stock valued at $25,723,000 after buying an additional 10,423 shares during the last quarter. Cetera Advisors LLC boosted its position in shares of Ameriprise Financial by 55.6% during the first quarter. Cetera Advisors LLC now owns 10,900 shares of the financial services provider’s stock valued at $4,779,000 after buying an additional 3,895 shares during the last quarter. Finally, Cetera Investment Advisers boosted its holdings in shares of Ameriprise Financial by 335.6% during the 1st quarter. Cetera Investment Advisers now owns 34,321 shares of the financial services provider’s stock valued at $15,048,000 after acquiring an additional 26,442 shares during the last quarter. 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.