Ameriprise Financial, Inc. (NYSE:AMP) Receives $487.67 Average Price Target from Brokerages

Ameriprise Financial, Inc. (NYSE:AMP - Get Free Report) has earned a consensus recommendation of "Hold" from the ten brokerages that are presently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, five have given a hold recommendation and four have assigned a buy recommendation to the company. The average 12 month price target among analysts that have covered the stock in the last year is $487.67.

A number of research firms have recently issued reports on AMP. Morgan Stanley lifted their price target on shares of Ameriprise Financial from $440.00 to $502.00 and gave the company an "equal weight" rating in a research report on Thursday, October 17th. UBS Group lifted their price objective on Ameriprise Financial from $490.00 to $555.00 and gave the stock a "buy" rating in a report on Tuesday, October 8th. The Goldman Sachs Group lowered shares of Ameriprise Financial from a "buy" rating to a "neutral" rating and decreased their price objective for the stock from $485.00 to $476.00 in a research report on Thursday, September 26th. Keefe, Bruyette & Woods raised their price objective on shares of Ameriprise Financial from $475.00 to $510.00 and gave the stock a "market perform" rating in a research note on Tuesday, October 29th. Finally, Royal Bank of Canada upped their target price on Ameriprise Financial from $535.00 to $550.00 and gave the company an "outperform" rating in a research note on Friday, October 25th.

Ameriprise Financial Price Performance

Shares of AMP traded down $2.47 during trading hours on Thursday, reaching $529.96. The company had a trading volume of 511,418 shares, compared to its average volume of 471,803. The company has a market capitalization of $51.41 billion, a price-to-earnings ratio of 20.34, a PEG ratio of 0.96 and a beta of 1.34. Ameriprise Financial has a 12-month low of $368.41 and a 12-month high of $577.00. The firm has a 50 day simple moving average of $546.29 and a 200-day simple moving average of $481.53. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.99.

Ameriprise Financial Announces Dividend

The business 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. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.12%. The ex-dividend date of this dividend was Monday, November 4th. Ameriprise Financial's dividend payout ratio is currently 22.73%.

Insider Transactions at Ameriprise Financial

In related news, CFO Walter Stanley Berman sold 8,655 shares of the firm's stock in a transaction that occurred on Monday, November 11th. The shares were 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 in the company, valued at approximately $3,615,701.44. This trade represents a 57.45 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Gumer Alvero sold 2,325 shares of the company's stock in a transaction on Thursday, October 31st. The stock was sold at an average price of $516.05, for a total transaction 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 trade represents a 33.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 21,715 shares of company stock worth $11,983,436 in the last three months. Company insiders own 0.73% of the company's stock.

Institutional Trading of Ameriprise Financial

Large investors have recently bought and sold shares of the company. JPMorgan Chase & Co. increased its stake in Ameriprise Financial by 9.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,285,476 shares of the financial services provider's stock worth $2,013,359,000 after buying an additional 358,699 shares during the period. Maj Invest Holding A S acquired a new stake in Ameriprise Financial during the 3rd quarter valued at approximately $98,742,000. The Manufacturers Life Insurance Company increased its stake in shares of Ameriprise Financial by 144.0% in the third quarter. The Manufacturers Life Insurance Company now owns 243,385 shares of the financial services provider's stock worth $114,345,000 after buying an additional 143,648 shares during the last quarter. AGF Management Ltd. raised its stake in shares of Ameriprise Financial by 35.4% in the 2nd quarter. AGF Management Ltd. now owns 504,657 shares of the financial services provider's stock valued at $215,584,000 after purchasing an additional 131,844 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in Ameriprise Financial by 10.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,129,632 shares of the financial services provider's stock worth $482,588,000 after buying an additional 110,319 shares during the last quarter. Institutional investors and hedge funds 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.