Ameriprise Financial, Inc. (NYSE:AMP) Receives $487.67 Consensus Price Target from Brokerages

Shares of Ameriprise Financial, Inc. (NYSE:AMP) have earned a consensus recommendation of “Hold” from the ten research firms that are presently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, five have issued a hold recommendation and four have issued a buy recommendation on the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $487.67.

AMP has been the subject of a number of recent research reports. UBS Group boosted their price objective on shares of Ameriprise Financial from $490.00 to $555.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. Morgan Stanley lifted their price objective on Ameriprise Financial from $440.00 to $502.00 and gave the company an “equal weight” rating in a report on Thursday, October 17th. Royal Bank of Canada increased their target price on Ameriprise Financial from $535.00 to $550.00 and gave the stock an “outperform” rating in a report on Friday, October 25th. The Goldman Sachs Group lowered shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and decreased their target price for the company from $485.00 to $476.00 in a report on Thursday, September 26th. Finally, Keefe, Bruyette & Woods upped their price target on shares of Ameriprise Financial from $475.00 to $510.00 and gave the stock a “market perform” rating in a report on Tuesday, October 29th.

Ameriprise Financial Trading Up 1.1 %

Shares of Ameriprise Financial stock opened at $535.84 on Thursday. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.65 and a current ratio of 0.65. The firm has a 50-day moving average of $546.91 and a 200-day moving average of $482.25. Ameriprise Financial has a 52-week low of $368.41 and a 52-week high of $577.00. The stock has a market cap of $51.98 billion, a PE ratio of 20.57, a PEG ratio of 0.96 and a beta of 1.34.

Ameriprise Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Monday, November 4th were issued a dividend of $1.48 per share. This represents a $5.92 dividend on an annualized basis and a yield of 1.10%. The ex-dividend date was Monday, November 4th. Ameriprise Financial’s payout ratio is 22.73%.

Insider Buying and Selling at Ameriprise Financial

In other Ameriprise Financial news, insider Joseph Edward Sweeney sold 10,735 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $549.68, for a total transaction of $5,900,814.80. Following the completion of the transaction, the insider now owns 5,811 shares in the company, valued at approximately $3,194,190.48. This trade represents a 64.88 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Gumer Alvero sold 2,325 shares of the company’s stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $516.05, for a total transaction of $1,199,816.25. Following the completion of the sale, the insider now directly owns 4,669 shares in the company, valued at approximately $2,409,437.45. This represents a 33.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 21,715 shares of company stock worth $11,983,436. 0.73% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Ameriprise Financial

A number of hedge funds have recently bought and sold shares of AMP. Hantz Financial Services Inc. acquired a new stake in Ameriprise Financial during the 2nd quarter worth about $29,000. Concurrent Investment Advisors LLC increased its holdings in Ameriprise Financial by 33.8% in the second quarter. Concurrent Investment Advisors LLC now owns 661 shares of the financial services provider’s stock worth $282,000 after purchasing an additional 167 shares in the last quarter. Farther Finance Advisors LLC increased its holdings in Ameriprise Financial by 68.8% in the second quarter. Farther Finance Advisors LLC now owns 883 shares of the financial services provider’s stock worth $376,000 after purchasing an additional 360 shares in the last quarter. Aptus Capital Advisors LLC lifted its stake in Ameriprise Financial by 4.5% in the second quarter. Aptus Capital Advisors LLC now owns 830 shares of the financial services provider’s stock valued at $355,000 after buying an additional 36 shares during the period. Finally, Valmark Advisers Inc. bought a new position in shares of Ameriprise Financial during the 2nd quarter worth approximately $251,000. 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.