Ameriprise Financial, Inc. (NYSE:AMP) Receives $517.44 Consensus Price Target from Analysts

Ameriprise Financial, Inc. (NYSE:AMP - Get Free Report) has earned a consensus rating of "Hold" from the nine analysts that are currently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $517.44.

A number of analysts have recently commented on the company. Royal Bank of Canada reiterated an "outperform" rating and set a $625.00 target price on shares of Ameriprise Financial in a research report on Monday, February 3rd. UBS Group lowered shares of Ameriprise Financial from a "buy" rating to a "neutral" rating and dropped their price objective for the company from $580.00 to $570.00 in a research note on Monday, January 6th. Piper Sandler boosted 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. Morgan Stanley boosted their target price on Ameriprise Financial from $507.00 to $542.00 and gave the company an "equal weight" rating in a report on Tuesday, March 4th. Finally, Keefe, Bruyette & Woods cut their price objective on shares of Ameriprise Financial from $570.00 to $520.00 and set a "market perform" rating for the company in a research report on Wednesday, April 9th.

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 value of $2,499,128.52. Following the transaction, the insider now owns 7,237 shares in the company, valued at approximately $3,901,249.59. This trade represents a 39.05 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO William F. Truscott sold 6,000 shares of the firm's stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $540.29, for a total value of $3,241,740.00. Following the completion of the transaction, the chief executive officer now owns 14,023 shares in the company, valued at approximately $7,576,486.67. This trade represents a 29.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 11,636 shares of company stock worth $6,263,989 over the last 90 days. 0.73% of the stock is currently owned by corporate insiders.

Remove Ads

Institutional Investors Weigh In On Ameriprise Financial

Large investors have recently made changes to their positions in the business. Cerro Pacific Wealth Advisors LLC grew its stake in shares of 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 valued at $307,000 after buying an additional 19 shares in the last quarter. SRS Capital Advisors Inc. boosted 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 valued at $37,000 after purchasing an additional 20 shares during the last quarter. HighPoint Advisor Group LLC grew its stake in Ameriprise Financial by 0.8% during the 4th quarter. HighPoint Advisor Group LLC now owns 2,683 shares of the financial services provider's stock valued at $1,419,000 after purchasing an additional 20 shares in the last quarter. Dakota Wealth Management raised its position in shares of Ameriprise Financial by 2.7% in the 4th quarter. Dakota Wealth Management now owns 798 shares of the financial services provider's stock valued at $425,000 after purchasing an additional 21 shares in the last quarter. Finally, Abel Hall LLC boosted its stake in shares of Ameriprise Financial by 4.2% during the 4th quarter. Abel Hall LLC now owns 517 shares of the financial services provider's stock valued at $275,000 after buying an additional 21 shares during the last quarter. Institutional investors and hedge funds own 83.95% of the company's stock.

Ameriprise Financial Stock Down 2.7 %

Shares of AMP stock traded down $12.95 during trading hours on Friday, reaching $463.49. 206,940 shares of the stock were exchanged, compared to its average volume of 493,648. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.59 and a quick ratio of 0.59. Ameriprise Financial has a 12-month low of $385.74 and a 12-month high of $582.05. The firm has a market capitalization of $44.55 billion, a P/E ratio of 14.02, a P/E/G ratio of 1.15 and a beta of 1.23. The business's fifty day moving average is $498.48 and its two-hundred day moving average is $523.16.

Ameriprise Financial (NYSE:AMP - Get Free Report) last issued its earnings results on Wednesday, January 29th. The financial services provider reported $9.36 earnings per share for the quarter, topping 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 expect that Ameriprise Financial will post 38.64 EPS for the current fiscal year.

Ameriprise Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Monday, February 10th were paid a $1.48 dividend. This represents a $5.92 annualized dividend and a yield of 1.28%. The ex-dividend date of this dividend was Monday, February 10th. Ameriprise Financial's payout ratio is currently 17.91%.

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.