Ameriprise Financial, Inc. (NYSE:AMP) Receives $487.67 Average PT from Brokerages

Shares of Ameriprise Financial, Inc. (NYSE:AMP) have earned an average recommendation of “Hold” from the ten brokerages that are covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $487.67.

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

Ameriprise Financial Trading Up 0.2 %

Shares of AMP opened at $562.44 on Wednesday. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.99. The stock has a market cap of $54.57 billion, a PE ratio of 21.74, a PEG ratio of 0.97 and a beta of 1.34. Ameriprise Financial has a 1 year low of $342.96 and a 1 year high of $569.47. The stock has a 50 day simple moving average of $493.91 and a 200-day simple moving average of $451.64.

Ameriprise Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Monday, November 4th were given a $1.48 dividend. This represents a $5.92 annualized dividend and a yield of 1.05%. The ex-dividend date of this dividend was Monday, November 4th. Ameriprise Financial’s dividend payout ratio (DPR) is presently 22.73%.

Insider Buying and Selling at Ameriprise Financial

In other Ameriprise Financial news, CFO Walter Stanley Berman sold 8,655 shares of the company’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $564.16, for a total transaction of $4,882,804.80. Following the transaction, the chief financial officer now directly owns 6,409 shares in the company, valued at approximately $3,615,701.44. This represents a 57.45 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Joseph Edward Sweeney sold 10,735 shares of Ameriprise Financial stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $549.68, for a total transaction of $5,900,814.80. Following the sale, the insider now owns 5,811 shares of the company’s stock, valued at approximately $3,194,190.48. This represents a 64.88 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 30,415 shares of company stock worth $15,829,445. Insiders own 0.73% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in AMP. DiNuzzo Private Wealth Inc. lifted its stake in 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 buying an additional 43 shares during the period. Accordant Advisory Group Inc bought a new position in Ameriprise Financial during the 2nd quarter worth approximately $26,000. Mascoma Wealth Management LLC grew its holdings 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 period. Bank & Trust Co bought a new stake in Ameriprise Financial in the second quarter valued at approximately $29,000. Finally, Oakworth Capital Inc. acquired a new stake in Ameriprise Financial in the third quarter worth $31,000. Institutional investors and hedge funds 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.