Ameriprise Financial, Inc. (NYSE:AMP) Given Consensus Recommendation of "Hold" by Brokerages

Ameriprise Financial, Inc. (NYSE:AMP - Get Free Report) has been given an average recommendation of "Hold" by the ten ratings firms that are covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, five have issued a hold recommendation and four have issued a buy recommendation on the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $487.67.

Several equities analysts have recently issued reports on AMP shares. UBS Group boosted their target price on 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 objective on shares of Ameriprise Financial from $535.00 to $550.00 and gave the company an "outperform" rating in a report on Friday, October 25th. The Goldman Sachs Group lowered shares of Ameriprise Financial from a "buy" rating to a "neutral" rating and cut their target price for the stock from $485.00 to $476.00 in a report on Thursday, September 26th. Morgan Stanley boosted their price target on shares of Ameriprise Financial from $440.00 to $502.00 and gave the company an "equal weight" rating in a report on Thursday, October 17th. Finally, Keefe, Bruyette & Woods boosted their target price on 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 Down 0.6 %

Shares of AMP stock traded down $3.66 during trading hours on Friday, reaching $561.55. The company had a trading volume of 331,754 shares, compared to its average volume of 457,116. The company has a 50 day moving average of $531.24 and a 200 day moving average of $467.70. The firm has a market cap of $54.48 billion, a price-to-earnings ratio of 21.56, a P/E/G ratio of 0.98 and a beta of 1.34. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.65 and a quick ratio of 0.65. Ameriprise Financial has a 1-year low of $350.37 and a 1-year high of $577.00.

Ameriprise Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Monday, November 4th were paid a dividend of $1.48 per share. The ex-dividend date was Monday, November 4th. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.05%. Ameriprise Financial's dividend payout ratio is 22.73%.

Insider Activity

In other news, insider Gumer Alvero sold 2,325 shares of the company's stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $516.05, for a total value of $1,199,816.25. Following the sale, the insider now directly owns 4,669 shares of the company's stock, valued at approximately $2,409,437.45. This represents a 33.24 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Walter Stanley Berman sold 8,655 shares of Ameriprise Financial stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $564.16, for a total value of $4,882,804.80. Following the transaction, the chief financial officer now owns 6,409 shares of the company's stock, valued at $3,615,701.44. The trade was a 57.45 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 21,715 shares of company stock worth $11,983,436 in the last quarter. Corporate insiders own 0.73% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Opal Wealth Advisors LLC bought a new position in Ameriprise Financial during the second quarter worth $35,000. Czech National Bank boosted its holdings in shares of Ameriprise Financial by 7.4% during the 2nd quarter. Czech National Bank now owns 18,928 shares of the financial services provider's stock worth $8,086,000 after buying an additional 1,298 shares during the period. MorganRosel Wealth Management LLC grew its stake in Ameriprise Financial by 8.4% in the 2nd quarter. MorganRosel Wealth Management LLC now owns 2,055 shares of the financial services provider's stock valued at $878,000 after buying an additional 159 shares during the last quarter. Sequoia Financial Advisors LLC raised its holdings in Ameriprise Financial by 9.4% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 3,551 shares of the financial services provider's stock valued at $1,517,000 after acquiring an additional 305 shares during the period. Finally, Foguth Wealth Management LLC. acquired a new stake in Ameriprise Financial during the second quarter worth approximately $282,000. 83.95% of the stock is currently owned by institutional investors.

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.