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

Shares of Ameriprise Financial, Inc. (NYSE:AMP - Get Free Report) have been assigned a consensus recommendation of "Hold" from the nine ratings firms that are currently covering the company, MarketBeat reports. One analyst has rated the stock with a sell rating, four have given a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $517.44.

Several equities research analysts have recently commented on AMP shares. UBS Group lowered Ameriprise Financial from a "buy" rating to a "neutral" rating and reduced their price objective for the stock from $580.00 to $570.00 in a research note on Monday, January 6th. Piper Sandler lifted their price objective on Ameriprise Financial from $415.00 to $442.00 and gave the company an "underweight" rating in a research report on Friday, January 31st. Raymond James upgraded shares of Ameriprise Financial from a "market perform" rating to a "strong-buy" rating and set a $518.00 target price on the stock in a research note on Monday, April 7th. Keefe, Bruyette & Woods reduced 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 note on Wednesday, April 9th. Finally, Royal Bank of Canada reaffirmed an "outperform" rating and issued a $625.00 target price on shares of Ameriprise Financial in a report on Monday, February 3rd.

Ameriprise Financial Stock Up 0.3 %

Shares of AMP stock traded up $1.35 during mid-day trading on Friday, reaching $464.57. 492,165 shares of the company's stock traded hands, compared to its average volume of 492,613. 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's 50-day moving average price is $494.40 and its 200-day moving average price is $522.95. Ameriprise Financial has a 12 month low of $385.74 and a 12 month high of $582.05. The company has a market cap of $44.51 billion, a P/E ratio of 14.05, a P/E/G ratio of 1.15 and a beta of 1.23.

Ameriprise Financial (NYSE:AMP - Get Free Report) last announced its quarterly earnings results on Wednesday, January 29th. The financial services provider reported $9.36 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $9.16 by $0.20. Ameriprise Financial had a net margin of 19.70% and a return on equity of 69.35%. On average, equities analysts expect that Ameriprise Financial will post 38.64 earnings per share for the current fiscal year.

Ameriprise Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Monday, February 10th were paid a $1.48 dividend. This represents a $5.92 dividend on an annualized basis and a yield of 1.27%. The ex-dividend date of this dividend was Monday, February 10th. Ameriprise Financial's payout ratio is 17.91%.

Insider Transactions at Ameriprise Financial

In related news, Director Robert Francis Sharpe, Jr. sold 1,000 shares of the 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 transaction, the director now owns 10,000 shares of the company's stock, valued at approximately $5,231,200. This trade represents a 9.09 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Joseph Edward Sweeney sold 4,636 shares of the business's stock in a transaction that occurred 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 sale, the insider now directly owns 7,237 shares in the company, valued at $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. Insiders have sold 11,636 shares of company stock valued at $6,263,989 in the last ninety days. Corporate insiders own 0.73% of the company's stock.

Institutional Investors Weigh In On Ameriprise Financial

Several institutional investors have recently made changes to their positions in AMP. TCTC Holdings LLC purchased a new position in shares of Ameriprise Financial during the fourth quarter valued at approximately $26,000. University of Texas Texas AM Investment Management Co. bought a new stake in shares of Ameriprise Financial during the fourth quarter worth $26,000. Whipplewood Advisors LLC purchased a new stake in shares of Ameriprise Financial during the fourth quarter valued at $28,000. Rialto Wealth Management LLC purchased a new position in Ameriprise Financial in the 4th quarter worth about $28,000. Finally, Wingate Wealth Advisors Inc. bought a new stake in Ameriprise Financial during the 4th quarter valued at about $30,000. 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.