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

Shares of Ameriprise Financial, Inc. (NYSE:AMP - Get Free Report) have been assigned a consensus recommendation of "Hold" from the nine brokerages that are covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $514.89.

A number of research analysts have weighed in on AMP shares. Morgan Stanley boosted their target price on shares of Ameriprise Financial from $507.00 to $542.00 and gave the company an "equal weight" rating in a research note on Tuesday, March 4th. Keefe, Bruyette & Woods increased their price objective on Ameriprise Financial from $560.00 to $570.00 and gave the company a "market perform" rating in a report on Monday, February 3rd. UBS Group lowered Ameriprise Financial from a "buy" rating to a "neutral" rating and lowered their target price for the company from $580.00 to $570.00 in a research note on Monday, January 6th. Piper Sandler upped their price target on Ameriprise Financial from $415.00 to $442.00 and gave the company an "underweight" rating in a research report on Friday, January 31st. Finally, Royal Bank of Canada reissued an "outperform" rating and issued a $625.00 price objective on shares of Ameriprise Financial in a report on Monday, February 3rd.

Ameriprise Financial Stock Performance

Shares of AMP stock traded up $0.33 during trading on Tuesday, hitting $493.41. The company's stock had a trading volume of 519,535 shares, compared to its average volume of 459,646. The business has a fifty day moving average of $528.49 and a 200-day moving average of $519.94. The company has a market cap of $47.43 billion, a PE ratio of 14.92, a P/E/G ratio of 1.15 and a beta of 1.33. Ameriprise Financial has a 52 week low of $385.74 and a 52 week high of $582.05. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 1.01.

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Ameriprise Financial (NYSE:AMP - Get Free Report) last announced its earnings results on Wednesday, January 29th. The financial services provider reported $9.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $9.16 by $0.20. Ameriprise Financial had a return on equity of 69.35% and a net margin of 19.70%. As a group, research analysts anticipate that Ameriprise Financial will post 38.64 earnings per share for the current year.

Ameriprise Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Monday, February 10th were issued a $1.48 dividend. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.20%. The ex-dividend date was Monday, February 10th. Ameriprise Financial's payout ratio is 17.91%.

Insider Activity

In related news, insider Joseph Edward Sweeney sold 4,636 shares of Ameriprise Financial stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $539.07, for a total transaction of $2,499,128.52. Following the completion of the sale, the insider now owns 7,237 shares of the company's stock, valued at approximately $3,901,249.59. This trade represents a 39.05 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Robert Francis Sharpe, Jr. sold 1,000 shares of the firm's stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $523.12, for a total value of $523,120.00. Following the completion of the sale, the director now directly owns 10,000 shares in the company, valued at approximately $5,231,200. The trade was a 9.09 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 11,636 shares of company stock worth $6,263,989. 0.73% of the stock is owned by company insiders.

Hedge Funds Weigh In On Ameriprise Financial

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. JPMorgan Chase & Co. grew its position in Ameriprise Financial by 12.1% in the fourth quarter. JPMorgan Chase & Co. now owns 4,801,913 shares of the financial services provider's stock worth $2,556,683,000 after acquiring an additional 516,437 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Ameriprise Financial by 1.5% during the 4th quarter. Geode Capital Management LLC now owns 2,647,627 shares of the financial services provider's stock valued at $1,407,607,000 after purchasing an additional 38,141 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Ameriprise Financial by 1.7% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,447,863 shares of the financial services provider's stock valued at $770,886,000 after buying an additional 23,655 shares in the last quarter. Norges Bank bought a new stake in Ameriprise Financial in the 4th quarter worth approximately $689,272,000. Finally, Northern Trust Corp lifted its position in Ameriprise Financial by 19.8% in the 4th quarter. Northern Trust Corp now owns 1,268,419 shares of the financial services provider's stock worth $675,344,000 after buying an additional 209,549 shares during the last quarter. Hedge funds and other 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.