Ameriprise Financial, Inc. (NYSE:AMP) Receives Average Rating of “Hold” from Brokerages

Ameriprise Financial, Inc. (NYSE:AMP) has been assigned an average rating of “Hold” from the eight analysts that are presently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation, two have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $517.13.

Several analysts have weighed in on AMP shares. Piper Sandler boosted their price target on shares of Ameriprise Financial from $415.00 to $442.00 and gave the stock an “underweight” rating in a research note on Friday, January 31st. Raymond James raised shares of Ameriprise Financial from a “market perform” rating to a “strong-buy” rating and set a $518.00 price target for the company in a research note on Monday, April 7th. Morgan Stanley boosted their price target on shares of Ameriprise Financial from $507.00 to $542.00 and gave the stock an “equal weight” rating in a research note on Tuesday, March 4th. Keefe, Bruyette & Woods boosted their price target on shares of Ameriprise Financial from $510.00 to $520.00 and gave the stock a “market perform” rating in a research note on Wednesday, May 7th. Finally, Royal Bank of Canada boosted their price objective on shares of Ameriprise Financial from $550.00 to $565.00 and gave the company an “outperform” rating in a research report on Tuesday, April 29th.

Ameriprise Financial Stock Performance

Ameriprise Financial stock opened at $492.09 on Wednesday. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 1.01. The company has a market capitalization of $46.86 billion, a PE ratio of 14.88, a P/E/G ratio of 1.15 and a beta of 1.28. The firm has a fifty day simple moving average of $476.70 and a two-hundred day simple moving average of $519.97. Ameriprise Financial has a twelve month low of $385.74 and a twelve month high of $582.05.

Ameriprise Financial (NYSE:AMP) last posted its quarterly earnings results on Thursday, April 24th. The financial services provider reported $9.50 earnings per share for the quarter, topping the consensus estimate of $9.08 by $0.42. The business had revenue of $4.35 billion during the quarter, compared to the consensus estimate of $4.45 billion. Ameriprise Financial had a net margin of 19.70% and a return on equity of 69.35%. The firm’s revenue for the quarter was up 3.6% on a year-over-year basis. During the same period in the previous year, the firm posted $8.39 earnings per share. Research analysts expect that Ameriprise Financial will post 38.64 EPS for the current year.

Ameriprise Financial declared that its board has initiated a share repurchase plan on Thursday, April 24th that permits the company to repurchase $4.50 billion in outstanding shares. This repurchase authorization permits the financial services provider to buy up to 9.9% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

Ameriprise Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, May 19th. Shareholders of record on Monday, May 5th will be given a $1.60 dividend. This is a boost from Ameriprise Financial’s previous quarterly dividend of $1.48. The ex-dividend date of this dividend is Monday, May 5th. This represents a $6.40 dividend on an annualized basis and a dividend yield of 1.30%. Ameriprise Financial’s payout ratio is presently 21.75%.

Insider Activity at Ameriprise Financial

In other Ameriprise Financial news, Director Robert Francis Sharpe, Jr. sold 1,000 shares of Ameriprise Financial stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $523.12, for a total transaction of $523,120.00. Following the sale, the director now directly owns 10,000 shares of the company’s stock, valued at approximately $5,231,200. The trade was a 9.09% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Joseph Edward Sweeney sold 4,636 shares of Ameriprise Financial stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $539.07, for a total value of $2,499,128.52. Following the sale, the insider now directly owns 7,237 shares in the company, valued at approximately $3,901,249.59. The trade was a 39.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.73% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Ameriprise Financial

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Cerro Pacific Wealth Advisors LLC grew its holdings in Ameriprise Financial by 3.4% in the fourth quarter. Cerro Pacific Wealth Advisors LLC now owns 576 shares of the financial services provider’s stock worth $307,000 after purchasing an additional 19 shares during the period. SRS Capital Advisors Inc. grew its holdings in Ameriprise Financial by 40.0% in the fourth quarter. SRS Capital Advisors Inc. now owns 70 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 20 shares during the period. HighPoint Advisor Group LLC grew its holdings in Ameriprise Financial by 0.8% in the fourth quarter. HighPoint Advisor Group LLC now owns 2,683 shares of the financial services provider’s stock worth $1,419,000 after purchasing an additional 20 shares during the period. Dakota Wealth Management grew its holdings in Ameriprise Financial by 2.7% in the fourth quarter. Dakota Wealth Management now owns 798 shares of the financial services provider’s stock worth $425,000 after purchasing an additional 21 shares during the period. Finally, Abel Hall LLC grew its holdings in Ameriprise Financial by 4.2% in the fourth quarter. Abel Hall LLC now owns 517 shares of the financial services provider’s stock worth $275,000 after purchasing an additional 21 shares during the period. Hedge funds and other institutional investors own 83.95% of the company’s stock.

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.