Analysts Set Ameriprise Financial, Inc. (NYSE:AMP) Price Target at $464.33

Ameriprise Financial, Inc. (NYSE:AMP) has been assigned an average recommendation of “Hold” from the ten ratings firms that are covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the company. The average 1 year price target among analysts that have covered the stock in the last year is $463.00.

A number of research analysts recently commented on the company. Jefferies Financial Group raised their price target on Ameriprise Financial from $500.00 to $504.00 and gave the stock a “buy” rating in a research report on Friday, June 28th. UBS Group dropped their target price on shares of Ameriprise Financial from $500.00 to $495.00 and set a “buy” rating for the company in a research report on Tuesday, July 9th. The Goldman Sachs Group downgraded shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and cut their price target for the stock from $485.00 to $476.00 in a report on Thursday. Royal Bank of Canada lifted their price objective on shares of Ameriprise Financial from $487.00 to $500.00 and gave the company an “outperform” rating in a research note on Tuesday, July 30th. Finally, Piper Sandler cut their target price on Ameriprise Financial from $390.00 to $387.00 and set an “underweight” rating for the company in a research note on Friday, June 28th.

Insider Activity

In related news, VP William Davies sold 8,700 shares of the firm’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $442.07, for a total value of $3,846,009.00. Following the completion of the transaction, the vice president now owns 13,199 shares in the company, valued at approximately $5,834,881.93. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 0.73% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of AMP. Retirement Group LLC acquired a new stake in shares of Ameriprise Financial in the first quarter valued at about $25,000. DiNuzzo Private Wealth Inc. increased its position in shares of Ameriprise Financial by 268.8% during the second quarter. DiNuzzo Private Wealth Inc. now owns 59 shares of the financial services provider’s stock worth $25,000 after buying an additional 43 shares during the period. Accordant Advisory Group Inc acquired a new stake in Ameriprise Financial during the 2nd quarter worth about $26,000. Redmont Wealth Advisors LLC acquired a new stake in Ameriprise Financial during the 1st quarter worth about $28,000. Finally, Mascoma Wealth Management LLC raised its position in shares of Ameriprise Financial by 153.8% in the 2nd quarter. Mascoma Wealth Management LLC now owns 66 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 40 shares in the last quarter. 83.95% of the stock is owned by institutional investors.

Ameriprise Financial Stock Performance

NYSE AMP opened at $467.51 on Tuesday. The firm has a 50-day moving average price of $431.99 and a two-hundred day moving average price of $429.63. Ameriprise Financial has a 12-month low of $306.63 and a 12-month high of $469.39. The company has a market capitalization of $45.90 billion, a P/E ratio of 15.75, a P/E/G ratio of 0.80 and a beta of 1.35. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 1.16.

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

Ameriprise Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 16th. Shareholders of record on Monday, August 5th were issued a $1.48 dividend. The ex-dividend date of this dividend was Monday, August 5th. This represents a $5.92 dividend on an annualized basis and a yield of 1.27%. Ameriprise Financial’s payout ratio is presently 20.15%.

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.