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

Shares of Ameriprise Financial, Inc. (NYSE:AMP - Get Free Report) have been given a consensus recommendation of "Hold" by the ten brokerages that are covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, six have given a hold recommendation and three have given a buy recommendation to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $510.44.

Several equities research analysts have recently weighed in on the company. Piper Sandler increased their price target on Ameriprise Financial from $415.00 to $442.00 and gave the company an "underweight" rating in a research note on Friday, January 31st. UBS Group lowered shares of Ameriprise Financial from a "buy" rating to a "neutral" rating and lowered their price target for the stock from $580.00 to $570.00 in a report on Monday, January 6th. Royal Bank of Canada restated an "outperform" rating and issued a $625.00 price target on shares of Ameriprise Financial in a research report on Monday, February 3rd. Finally, Keefe, Bruyette & Woods increased their price objective on shares of Ameriprise Financial from $560.00 to $570.00 and gave the stock a "market perform" rating in a research report on Monday, February 3rd.

Ameriprise Financial Price Performance

Shares of Ameriprise Financial stock traded down $10.83 during trading on Friday, reaching $530.18. 690,237 shares of the company's stock were exchanged, compared to its average volume of 555,326. The firm's 50-day moving average price is $540.89 and its 200 day moving average price is $508.68. The company has a market cap of $51.44 billion, a P/E ratio of 16.04, a PEG ratio of 1.19 and a beta of 1.36. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.65 and a current ratio of 0.59. Ameriprise Financial has a 1-year low of $385.74 and a 1-year high of $582.05.

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 (EPS) for the quarter, topping analysts' consensus estimates 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 38.55 earnings per share for the current year.

Ameriprise Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Monday, February 10th will be issued a $1.48 dividend. The ex-dividend date of this dividend is Monday, February 10th. This represents a $5.92 annualized dividend and a yield of 1.12%. Ameriprise Financial's payout ratio is currently 17.91%.

Insiders Place Their Bets

In other news, CEO William F. Truscott sold 6,000 shares of the stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $540.29, for a total transaction of $3,241,740.00. Following the completion of the transaction, the chief executive officer now directly owns 14,023 shares of the company's stock, valued at $7,576,486.67. This represents a 29.97 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Joseph Edward Sweeney sold 4,636 shares of the firm's 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 completion of the sale, the insider now directly owns 7,237 shares of the company's stock, valued at $3,901,249.59. This represents a 39.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 11,636 shares of company stock worth $6,263,989. Insiders own 0.73% of the company's stock.

Hedge Funds Weigh In On Ameriprise Financial

A number of institutional investors and hedge funds have recently added to or reduced their stakes in AMP. Norges Bank bought a new position in shares of Ameriprise Financial in the fourth quarter valued at approximately $689,272,000. JPMorgan Chase & Co. grew its holdings in shares of Ameriprise Financial by 12.1% during the 4th quarter. JPMorgan Chase & Co. now owns 4,801,913 shares of the financial services provider's stock valued at $2,556,683,000 after purchasing an additional 516,437 shares during the last quarter. Proficio Capital Partners LLC increased its holdings in shares of Ameriprise Financial by 79,679.4% in the fourth quarter. Proficio Capital Partners LLC now owns 371,772 shares of the financial services provider's stock worth $197,943,000 after buying an additional 371,306 shares during the period. Robeco Institutional Asset Management B.V. lifted its position in Ameriprise Financial by 429.0% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 417,149 shares of the financial services provider's stock valued at $222,103,000 after purchasing an additional 338,298 shares during the last quarter. Finally, Northern Trust Corp raised its holdings in Ameriprise Financial by 19.8% during the 4th quarter. Northern Trust Corp now owns 1,268,419 shares of the financial services provider's stock valued at $675,344,000 after buying an additional 209,549 shares during the last quarter. 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.