Ameriprise Financial, Inc. (NYSE:AMP) Given Consensus Recommendation of “Hold” by Analysts

Ameriprise Financial, Inc. (NYSE:AMP) has received an average recommendation of “Hold” from the ten analysts that are covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating on the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $464.33.

A number of research firms have commented on AMP. Royal Bank of Canada lifted their target price on shares of Ameriprise Financial from $487.00 to $500.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 30th. Keefe, Bruyette & Woods cut their price objective on Ameriprise Financial from $470.00 to $460.00 and set a “market perform” rating for the company in a report on Tuesday, July 30th. Piper Sandler lowered their target price on Ameriprise Financial from $390.00 to $387.00 and set an “underweight” rating on the stock in a report on Friday, June 28th. Morgan Stanley cut their price target on Ameriprise Financial from $444.00 to $440.00 and set an “equal weight” rating for the company in a research note on Monday, July 29th. Finally, UBS Group lowered their price objective on shares of Ameriprise Financial from $500.00 to $495.00 and set a “buy” rating on the stock in a research note on Tuesday, July 9th.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in AMP. Retirement Group LLC bought a new position in Ameriprise Financial during the first quarter valued at approximately $25,000. DiNuzzo Private Wealth Inc. grew its holdings in shares of Ameriprise Financial by 268.8% in the second quarter. DiNuzzo Private Wealth Inc. now owns 59 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 43 shares in the last quarter. Accordant Advisory Group Inc bought a new stake in Ameriprise Financial in the second quarter worth $26,000. Redmont Wealth Advisors LLC purchased a new stake in Ameriprise Financial during the first quarter valued at $28,000. Finally, Mascoma Wealth Management LLC lifted its position in Ameriprise Financial by 153.8% during the second quarter. Mascoma Wealth Management LLC now owns 66 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 40 shares during the last quarter. Hedge funds and other institutional investors own 83.95% of the company’s stock.

Ameriprise Financial Trading Up 0.7 %

NYSE AMP opened at $442.74 on Friday. The stock’s fifty day moving average price is $427.16 and its 200-day moving average price is $423.65. The company has a current ratio of 0.59, a quick ratio of 0.56 and a debt-to-equity ratio of 1.16. The stock has a market cap of $43.98 billion, a P/E ratio of 15.07, a P/E/G ratio of 0.73 and a beta of 1.37. Ameriprise Financial has a 12 month low of $306.63 and a 12 month high of $449.94.

Ameriprise Financial (NYSE:AMP) last announced its quarterly earnings data 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. Ameriprise Financial had a net margin of 18.64% and a return on equity of 73.83%. The company had revenue of $4.39 billion during the quarter, compared to analyst estimates of $4.24 billion. During the same period in the previous year, the business earned $7.44 EPS. The firm’s revenue for the quarter was up 9.6% on a year-over-year basis. As a group, equities analysts forecast that Ameriprise Financial will post 34.77 EPS for the current fiscal year.

Ameriprise Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 16th. Investors of record on Monday, August 5th were paid a dividend of $1.48 per share. The ex-dividend date of this dividend was Monday, August 5th. This represents a $5.92 annualized dividend and a yield of 1.34%. Ameriprise Financial’s payout ratio is 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.