Ameriprise Financial, Inc. (NYSE:AMP) Given Average Rating of “Moderate Buy” by Brokerages

Ameriprise Financial, Inc. (NYSE:AMP) has received an average rating of “Moderate Buy” from the ten research firms that are presently covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell rating, four have given a hold rating, four have given a buy rating and one has issued a strong buy rating on the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $480.44.

A number of analysts have recently weighed in on AMP shares. Piper Sandler dropped their price target on Ameriprise Financial from $390.00 to $387.00 and set an “underweight” rating on the stock in a research report on Friday, June 28th. UBS Group raised their target price on Ameriprise Financial from $490.00 to $555.00 and gave the company a “buy” rating in a research report on Tuesday, October 8th. Morgan Stanley raised their target price on Ameriprise Financial from $440.00 to $502.00 and gave the company an “equal weight” rating in a research report on Thursday. The Goldman Sachs Group cut Ameriprise Financial from a “buy” rating to a “neutral” rating and lowered their target price for the company from $485.00 to $476.00 in a research report on Thursday, September 26th. Finally, 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 research report on Friday, June 28th.

Ameriprise Financial Stock Up 0.3 %

Shares of Ameriprise Financial stock opened at $523.16 on Friday. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 1.16. The business’s 50 day simple moving average is $457.59 and its 200-day simple moving average is $437.20. The stock has a market capitalization of $51.96 billion, a price-to-earnings ratio of 17.81, a PEG ratio of 0.81 and a beta of 1.35. Ameriprise Financial has a twelve month low of $306.63 and a twelve month high of $524.89.

Ameriprise Financial (NYSE:AMP) last announced its quarterly earnings results on Wednesday, July 24th. The financial services provider reported $8.72 earnings per share for the quarter, topping analysts’ consensus estimates of $8.53 by $0.19. The business had revenue of $4.39 billion for the quarter, compared to analysts’ expectations of $4.24 billion. Ameriprise Financial had a return on equity of 73.83% and a net margin of 18.64%. The business’s quarterly revenue was up 9.6% on a year-over-year basis. During the same period in the prior year, the firm earned $7.44 EPS. Equities research analysts forecast that Ameriprise Financial will post 34.92 earnings per share for the current year.

Ameriprise Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 16th. Shareholders of record on Monday, August 5th were paid a dividend of $1.48 per share. This represents a $5.92 dividend on an annualized basis and a yield of 1.13%. The ex-dividend date of this dividend was Monday, August 5th. Ameriprise Financial’s payout ratio is currently 20.15%.

Insider Buying and Selling at Ameriprise Financial

In other news, VP William Davies sold 8,700 shares of the firm’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 completion of the sale, the vice president now directly owns 13,199 shares of the company’s stock, valued at $5,834,881.93. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.73% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Ameriprise Financial

Several large investors have recently modified their holdings of the stock. Heartland Bank & Trust Co boosted its stake in shares of 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 worth $1,177,000 after acquiring an additional 24 shares in the last quarter. Portside Wealth Group LLC boosted its position in shares of Ameriprise Financial by 3.7% in the second quarter. Portside Wealth Group LLC now owns 697 shares of the financial services provider’s stock worth $298,000 after buying an additional 25 shares during the period. Signaturefd LLC boosted its position in shares of Ameriprise Financial by 1.1% in the first quarter. Signaturefd LLC now owns 2,296 shares of the financial services provider’s stock worth $1,007,000 after buying an additional 26 shares during the period. Coldstream Capital Management Inc. boosted its position in shares of Ameriprise Financial by 0.7% in the second quarter. Coldstream Capital Management Inc. now owns 3,760 shares of the financial services provider’s stock worth $1,606,000 after buying an additional 26 shares during the period. Finally, Aua Capital Management LLC boosted its position in shares of Ameriprise Financial by 4.7% in the first quarter. Aua Capital Management LLC now owns 604 shares of the financial services provider’s stock worth $265,000 after buying an additional 27 shares during the period. 83.95% of the stock is owned by institutional investors.

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.