Ameriprise Financial, Inc. (NYSE:AMP) Receives $449.57 Average Price Target from Brokerages

Ameriprise Financial, Inc. (NYSE:AMP) has received a consensus rating of “Hold” from the eight ratings firms that are covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $449.57.

Several brokerages recently weighed in on AMP. Piper Sandler increased their price objective on Ameriprise Financial from $360.00 to $392.00 and gave the stock an “underweight” rating in a research report on Friday, April 5th. Keefe, Bruyette & Woods increased their price objective on Ameriprise Financial from $420.00 to $460.00 and gave the stock a “market perform” rating in a research report on Wednesday, April 10th. UBS Group increased their price objective on Ameriprise Financial from $440.00 to $445.00 and gave the stock a “buy” rating in a research report on Thursday, January 25th. Raymond James began coverage on Ameriprise Financial in a research report on Thursday, March 21st. They issued a “market perform” rating for the company. Finally, Evercore ISI increased their price objective on Ameriprise Financial from $400.00 to $445.00 and gave the stock an “in-line” rating in a research report on Thursday, April 11th.

Insider Activity

In other news, SVP Dawn M. Brockman sold 224 shares of the stock in a transaction on Tuesday, March 26th. The stock was sold at an average price of $434.13, for a total value of $97,245.12. Following the sale, the senior vice president now directly owns 1,288 shares in the company, valued at $559,159.44. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, SVP Dawn M. Brockman sold 224 shares of the stock in a transaction on Tuesday, March 26th. The stock was sold at an average price of $434.13, for a total value of $97,245.12. Following the transaction, the senior vice president now owns 1,288 shares of the company’s stock, valued at $559,159.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Gerard P. Smyth sold 4,440 shares of the stock in a transaction on Monday, February 26th. The shares were sold at an average price of $407.92, for a total value of $1,811,164.80. Following the completion of the transaction, the executive vice president now directly owns 3,787 shares in the company, valued at approximately $1,544,793.04. The disclosure for this sale can be found here. Over the last three months, insiders have sold 74,326 shares of company stock worth $29,775,593. Corporate insiders own 0.73% of the company’s stock.

Hedge Funds Weigh In On Ameriprise Financial

Large investors have recently bought and sold shares of the business. OFI Invest Asset Management purchased a new position in shares of Ameriprise Financial during the third quarter worth about $25,000. Retirement Group LLC purchased a new position in shares of Ameriprise Financial during the first quarter worth about $25,000. Redmont Wealth Advisors LLC purchased a new position in shares of Ameriprise Financial during the first quarter worth about $28,000. Carmel Capital Partners LLC purchased a new position in shares of Ameriprise Financial during the third quarter worth about $30,000. Finally, Sound Income Strategies LLC purchased a new position in shares of Ameriprise Financial during the first quarter worth about $32,000. Hedge funds and other institutional investors own 83.95% of the company’s stock.

Ameriprise Financial Price Performance

AMP stock opened at $413.46 on Friday. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.56 and a quick ratio of 0.56. The business has a 50 day simple moving average of $419.68 and a 200-day simple moving average of $382.97. The firm has a market capitalization of $41.42 billion, a PE ratio of 14.07, a price-to-earnings-growth ratio of 0.71 and a beta of 1.36. Ameriprise Financial has a 1 year low of $279.85 and a 1 year high of $440.67.

Ameriprise Financial (NYSE:AMP) last posted its quarterly earnings results on Wednesday, April 24th. The financial services provider reported $8.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $8.10 by $0.29. The business had revenue of $4.15 billion during the quarter, compared to analyst estimates of $4.15 billion. Ameriprise Financial had a return on equity of 75.97% and a net margin of 19.42%. The business’s revenue was up 10.8% compared to the same quarter last year. During the same period in the prior year, the business earned $7.25 earnings per share. Equities research analysts anticipate that Ameriprise Financial will post 34.74 earnings per share for the current fiscal year.

Ameriprise Financial Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 17th. Shareholders of record on Monday, May 6th will be paid a dividend of $1.48 per share. This represents a $5.92 dividend on an annualized basis and a yield of 1.43%. This is a boost from Ameriprise Financial’s previous quarterly dividend of $1.35. The ex-dividend date of this dividend is Friday, May 3rd. Ameriprise Financial’s dividend 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.