Brokerages Set Ameriprise Financial, Inc. (NYSE:AMP) PT at $514.89

Ameriprise Financial, Inc. (NYSE:AMP - Get Free Report) has earned a consensus recommendation of "Hold" from the nine brokerages that are currently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating on the company. The average 1-year price objective among analysts that have covered the stock in the last year is $514.89.

AMP has been the subject of a number of research reports. Morgan Stanley boosted their price objective on Ameriprise Financial from $507.00 to $542.00 and gave the company an "equal weight" rating in a research note on Tuesday, March 4th. Piper Sandler upped their price target on shares of Ameriprise Financial from $415.00 to $442.00 and gave the company an "underweight" rating in a research report on Friday, January 31st. Keefe, Bruyette & Woods raised 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. 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. Finally, UBS Group lowered 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.

Insiders Place Their Bets

In related news, 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 owns 10,000 shares in the company, valued at $5,231,200. This trade represents a 9.09 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO William F. Truscott sold 6,000 shares of the company's stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $540.29, for a total transaction of $3,241,740.00. Following the transaction, the chief executive officer now owns 14,023 shares in the company, valued at $7,576,486.67. The trade was a 29.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 11,636 shares of company stock worth $6,263,989. Company insiders own 0.73% of the company's stock.

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Institutional Investors Weigh In On Ameriprise Financial

Several institutional investors have recently modified their holdings of AMP. Fire Capital Management LLC acquired a new position in Ameriprise Financial during the fourth quarter worth $612,000. Wellington Management Group LLP raised its stake in shares of Ameriprise Financial by 19.1% during the 4th quarter. Wellington Management Group LLP now owns 1,627 shares of the financial services provider's stock worth $866,000 after buying an additional 261 shares during the last quarter. NorthCrest Asset Manangement LLC boosted its position in shares of Ameriprise Financial by 3.7% in the 4th quarter. NorthCrest Asset Manangement LLC now owns 6,325 shares of the financial services provider's stock worth $3,368,000 after buying an additional 225 shares in the last quarter. Lansforsakringar Fondforvaltning AB publ acquired a new stake in Ameriprise Financial in the 4th quarter valued at about $17,536,000. Finally, Old North State Trust LLC grew its stake in Ameriprise Financial by 3.6% in the 4th quarter. Old North State Trust LLC now owns 2,455 shares of the financial services provider's stock valued at $1,307,000 after acquiring an additional 86 shares during the last quarter. Hedge funds and other institutional investors own 83.95% of the company's stock.

Ameriprise Financial Stock Up 3.3 %

Shares of NYSE AMP traded up $16.18 during mid-day trading on Tuesday, reaching $508.82. The company had a trading volume of 448,252 shares, compared to its average volume of 459,081. The firm has a 50 day simple moving average of $528.03 and a two-hundred day simple moving average of $521.34. 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. The stock has a market cap of $48.91 billion, a P/E ratio of 15.39, a PEG ratio of 1.15 and a beta of 1.33.

Ameriprise Financial (NYSE:AMP - Get Free Report) last issued its quarterly earnings data on Wednesday, January 29th. The financial services provider reported $9.36 earnings per share (EPS) 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%. Sell-side analysts predict that Ameriprise Financial will post 38.64 earnings per share for the current 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 given a $1.48 dividend. The ex-dividend date was Monday, February 10th. This represents a $5.92 dividend on an annualized basis and a yield of 1.16%. 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.