Ameriprise Financial, Inc. (NYSE:AMP) Receives Consensus Rating of "Moderate Buy" from Analysts

Ameriprise Financial, Inc. (NYSE:AMP - Get Free Report) has been given an average recommendation of "Moderate Buy" by the ten brokerages that are currently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, four have given a hold recommendation, four have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price target among analysts that have covered the stock in the last year is $480.44.

A number of analysts have recently weighed in on the stock. UBS Group upped their target price on shares of Ameriprise Financial from $490.00 to $555.00 and gave the stock a "buy" rating in a research report on Tuesday, October 8th. Keefe, Bruyette & Woods raised shares of Ameriprise Financial from a "hold" rating to a "strong-buy" rating in a report on Thursday, October 10th. Jefferies Financial Group raised their price target on shares of Ameriprise Financial from $500.00 to $504.00 and gave the company a "buy" rating in a report on Friday, June 28th. Morgan Stanley increased their price objective on shares of Ameriprise Financial from $440.00 to $502.00 and gave the stock an "equal weight" rating in a research note on Thursday. Finally, Piper Sandler decreased their target price on shares of Ameriprise Financial from $390.00 to $387.00 and set an "underweight" rating on the stock in a research note on Friday, June 28th.

Insider Transactions at Ameriprise Financial

In other news, VP William Davies sold 8,700 shares of the firm's stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $442.07, for a total transaction of $3,846,009.00. Following the sale, the vice president now owns 13,199 shares of the company's stock, valued at $5,834,881.93. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.73% of the company's stock.

Institutional Investors Weigh In On Ameriprise Financial

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. JPMorgan Chase & Co. lifted its position in shares of Ameriprise Financial by 18.6% during the 1st quarter. JPMorgan Chase & Co. now owns 3,844,165 shares of the financial services provider's stock valued at $1,685,436,000 after buying an additional 603,267 shares in the last quarter. Swedbank AB purchased a new position in shares of Ameriprise Financial during the 1st quarter valued at approximately $108,938,000. Maj Invest Holding A S purchased a new position in shares of Ameriprise Financial during the 3rd quarter valued at approximately $98,742,000. AGF Management Ltd. lifted its position in shares of Ameriprise Financial by 35.4% during the 2nd quarter. AGF Management Ltd. now owns 504,657 shares of the financial services provider's stock valued at $215,584,000 after buying an additional 131,844 shares in the last quarter. Finally, TD Asset Management Inc lifted its position in shares of Ameriprise Financial by 18.8% during the 1st quarter. TD Asset Management Inc now owns 707,617 shares of the financial services provider's stock valued at $310,248,000 after buying an additional 111,973 shares in the last quarter. Institutional investors and hedge funds own 83.95% of the company's stock.

Ameriprise Financial Price Performance

NYSE:AMP traded up $1.75 during mid-day trading on Friday, hitting $523.16. 480,121 shares of the stock traded hands, compared to its average volume of 471,931. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 1.16. Ameriprise Financial has a 12-month low of $306.63 and a 12-month high of $524.89. The company has a market cap of $51.96 billion, a PE ratio of 17.81, a price-to-earnings-growth ratio of 0.81 and a beta of 1.35. The business's 50-day moving average price is $457.59 and its 200 day moving average price is $437.20.

Ameriprise Financial (NYSE:AMP - Get Free Report) last announced its quarterly earnings data on Wednesday, July 24th. The financial services provider reported $8.72 earnings per share for the quarter, topping analysts' consensus estimates of $8.53 by $0.19. Ameriprise Financial had a net margin of 18.64% and a return on equity of 73.83%. The firm had revenue of $4.39 billion during the quarter, compared to analyst estimates of $4.24 billion. During the same period in the previous year, the business posted $7.44 EPS. The business's quarterly revenue was up 9.6% on a year-over-year basis. On average, analysts expect that Ameriprise Financial will post 34.92 EPS for the current fiscal year.

Ameriprise Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 16th. Stockholders of record on Monday, August 5th were paid a dividend of $1.48 per share. The ex-dividend date was Monday, August 5th. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.13%. Ameriprise Financial's payout ratio is 20.15%.

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.