Ameriprise Financial (NYSE:AMP) Reaches New 52-Week High at $450.93

Ameriprise Financial, Inc. (NYSE:AMP)’s share price reached a new 52-week high on Tuesday . The company traded as high as $450.93 and last traded at $450.93, with a volume of 26219 shares changing hands. The stock had previously closed at $445.14.

Analyst Ratings Changes

AMP has been the subject of several recent research reports. Keefe, Bruyette & Woods decreased their target price on shares of Ameriprise Financial from $470.00 to $460.00 and set a “market perform” rating for the company in a research report on Tuesday, July 30th. Jefferies Financial Group raised their target price on Ameriprise Financial from $500.00 to $504.00 and gave the company a “buy” rating in a report on Friday, June 28th. Morgan Stanley lowered their price target on Ameriprise Financial from $444.00 to $440.00 and set an “equal weight” rating for the company in a research report on Monday, July 29th. UBS Group cut their price objective on shares of Ameriprise Financial from $500.00 to $495.00 and set a “buy” rating on the stock in a report on Tuesday, July 9th. Finally, Royal Bank of Canada upped their target price on shares of Ameriprise Financial from $487.00 to $500.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 30th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $464.33.

Ameriprise Financial Stock Up 2.7 %

The company has a market capitalization of $46.06 billion, a PE ratio of 15.36, a P/E/G ratio of 0.75 and a beta of 1.35. The stock’s fifty day moving average is $429.39 and its two-hundred day moving average is $427.90. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 1.16.

Ameriprise Financial (NYSE:AMP) last released its earnings results on Wednesday, July 24th. The financial services provider reported $8.72 earnings per share for the quarter, beating analysts’ consensus estimates of $8.53 by $0.19. Ameriprise Financial had a net margin of 18.64% and a return on equity of 73.83%. The firm had revenue of $4.39 billion for the quarter, compared to analysts’ expectations of $4.24 billion. During the same period in the previous year, the company earned $7.44 earnings per share. The company’s quarterly revenue was up 9.6% on a year-over-year basis. As a group, analysts predict that Ameriprise Financial, Inc. will post 34.81 EPS for the current year.

Ameriprise Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 16th. Shareholders of record on Monday, August 5th were issued a dividend of $1.48 per share. This represents a $5.92 annualized dividend and a yield of 1.28%. The ex-dividend date was Monday, August 5th. Ameriprise Financial’s dividend payout ratio (DPR) is 20.15%.

Insider Buying and Selling at Ameriprise Financial

In other news, VP William Davies sold 8,700 shares of the company’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $442.07, for a total transaction of $3,846,009.00. Following the transaction, the vice president now owns 13,199 shares of the company’s stock, valued at approximately $5,834,881.93. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.73% of the company’s stock.

Institutional Trading of Ameriprise Financial

Several hedge funds and other institutional investors have recently modified their holdings of the business. Heartland Bank & Trust Co raised its holdings in Ameriprise Financial by 0.9% during the 2nd quarter. Heartland Bank & Trust Co now owns 2,755 shares of the financial services provider’s stock valued at $1,177,000 after acquiring an additional 24 shares during the period. Portside Wealth Group LLC lifted its holdings in Ameriprise Financial by 3.7% during the 2nd quarter. Portside Wealth Group LLC now owns 697 shares of the financial services provider’s stock worth $298,000 after purchasing an additional 25 shares in the last quarter. Signaturefd LLC boosted its stake in Ameriprise Financial by 1.1% in the 1st quarter. Signaturefd LLC now owns 2,296 shares of the financial services provider’s stock worth $1,007,000 after purchasing an additional 26 shares during the period. Coldstream Capital Management Inc. grew its holdings in Ameriprise Financial by 0.7% during the 2nd quarter. Coldstream Capital Management Inc. now owns 3,760 shares of the financial services provider’s stock valued at $1,606,000 after buying an additional 26 shares in the last quarter. Finally, Aua Capital Management LLC grew its holdings in Ameriprise Financial by 4.7% during the 1st quarter. Aua Capital Management LLC now owns 604 shares of the financial services provider’s stock valued at $265,000 after buying an additional 27 shares in the last quarter. Institutional investors own 83.95% of the company’s stock.

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.