Ameriprise Financial (NYSE:AMP) Price Target Cut to $554.00 by Analysts at Argus

Ameriprise Financial (NYSE:AMP) had its price objective trimmed by Argus from $568.00 to $554.00 in a research report report published on Thursday morning,Benzinga reports. The firm currently has a buy rating on the financial services provider’s stock.

A number of other brokerages have also recently issued reports on AMP. Weiss Ratings restated a “buy (b)” rating on shares of Ameriprise Financial in a report on Wednesday, October 8th. Evercore ISI cut their price objective on Ameriprise Financial from $587.00 to $570.00 and set an “in-line” rating on the stock in a report on Thursday, October 9th. Keefe, Bruyette & Woods lowered their target price on Ameriprise Financial from $550.00 to $530.00 and set a “market perform” rating for the company in a report on Monday, November 3rd. Royal Bank Of Canada cut their price objective on shares of Ameriprise Financial from $601.00 to $550.00 and set an “outperform” rating on the stock in a report on Monday, November 3rd. Finally, Raymond James Financial boosted their price target on shares of Ameriprise Financial from $518.00 to $582.00 and gave the company a “strong-buy” rating in a research report on Friday, July 25th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $533.22.

Ameriprise Financial Trading Down 0.3%

Shares of AMP stock traded down $1.46 during trading hours on Thursday, hitting $457.97. 660,680 shares of the company were exchanged, compared to its average volume of 517,000. The firm has a fifty day moving average of $480.28 and a 200 day moving average of $502.37. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 0.95. Ameriprise Financial has a 1 year low of $396.14 and a 1 year high of $582.05. The firm has a market cap of $42.55 billion, a PE ratio of 14.25, a PEG ratio of 1.07 and a beta of 1.28.

Ameriprise Financial (NYSE:AMP) last posted its earnings results on Thursday, October 30th. The financial services provider reported $9.92 EPS for the quarter, beating the consensus estimate of $9.76 by $0.16. The company had revenue of $4.73 billion during the quarter, compared to analyst estimates of $4.51 billion. Ameriprise Financial had a return on equity of 65.90% and a net margin of 18.30%.The business’s revenue was up 9.0% compared to the same quarter last year. During the same period in the prior year, the company earned $9.02 earnings per share. Analysts expect that Ameriprise Financial will post 38.64 earnings per share for the current year.

Ameriprise Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, November 24th. Investors of record on Monday, November 10th will be given a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a yield of 1.4%. The ex-dividend date is Monday, November 10th. Ameriprise Financial’s dividend payout ratio (DPR) is currently 17.55%.

Insider Transactions at Ameriprise Financial

In related news, CEO William F. Truscott sold 9,929 shares of the business’s stock in a transaction dated Tuesday, August 19th. The shares were sold at an average price of $506.89, for a total value of $5,032,910.81. Following the completion of the transaction, the chief executive officer owned 11,047 shares of the company’s stock, valued at approximately $5,599,613.83. The trade was a 47.34% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Heather J. Melloh sold 1,500 shares of the company’s stock in a transaction dated Thursday, September 4th. The shares were sold at an average price of $512.34, for a total transaction of $768,510.00. Following the completion of the transaction, the executive vice president directly owned 2,562 shares of the company’s stock, valued at approximately $1,312,615.08. The trade was a 36.93% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.73% of the stock is owned by insiders.

Hedge Funds Weigh In On Ameriprise Financial

Large investors have recently added to or reduced their stakes in the company. Whipplewood Advisors LLC raised its stake in shares of Ameriprise Financial by 71.0% during the second quarter. Whipplewood Advisors LLC now owns 53 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 22 shares during the last quarter. Salomon & Ludwin LLC lifted its stake in shares of Ameriprise Financial by 115.4% in the 2nd quarter. Salomon & Ludwin LLC now owns 56 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 30 shares during the last quarter. TD Capital Management LLC boosted its holdings in Ameriprise Financial by 566.7% during the 1st quarter. TD Capital Management LLC now owns 60 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 51 shares during the period. Wealth Preservation Advisors LLC bought a new stake in shares of Ameriprise Financial in the first quarter valued at about $29,000. Finally, Winnow Wealth LLC bought a new position in shares of Ameriprise Financial during the 2nd quarter worth approximately $32,000. 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.