Shares of Ameriprise Financial, Inc. (NYSE:AMP – Get Rating) have received a consensus recommendation of "Moderate Buy" from the thirteen analysts that are currently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and seven have assigned a buy rating to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $347.18.
AMP has been the topic of several recent research reports. Keefe, Bruyette & Woods raised their target price on shares of Ameriprise Financial from $350.00 to $375.00 and gave the company a "market perform" rating in a research note on Tuesday, January 31st. UBS Group boosted their price target on shares of Ameriprise Financial from $355.00 to $370.00 and gave the stock a "buy" rating in a research note on Monday, January 9th. StockNews.com began coverage on shares of Ameriprise Financial in a research note on Thursday, March 16th. They set a "hold" rating for the company. Credit Suisse Group boosted their price target on shares of Ameriprise Financial from $382.00 to $401.00 and gave the stock an "outperform" rating in a research note on Wednesday, February 1st. Finally, Morgan Stanley upped their target price on shares of Ameriprise Financial from $340.00 to $345.00 and gave the company an "equal weight" rating in a research note on Tuesday, January 10th.
Get Ameriprise Financial alerts:Insider Buying and Selling
In related news, insider Dawn M. Brockman sold 410 shares of the stock in a transaction on Tuesday, December 27th. The shares were sold at an average price of $310.63, for a total transaction of $127,358.30. Following the completion of the transaction, the insider now owns 875 shares in the company, valued at $271,801.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO William F. Truscott sold 11,483 shares of the stock in a transaction dated Friday, January 27th. The shares were sold at an average price of $347.69, for a total value of $3,992,524.27. Following the transaction, the chief executive officer now directly owns 16,262 shares of the company's stock, valued at $5,654,134.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Dawn M. Brockman sold 410 shares of the stock in a transaction dated Tuesday, December 27th. The shares were sold at an average price of $310.63, for a total transaction of $127,358.30. Following the completion of the transaction, the insider now directly owns 875 shares in the company, valued at $271,801.25. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 75,738 shares of company stock worth $26,606,004. 1.00% of the stock is owned by insiders.
Hedge Funds Weigh In On Ameriprise Financial
Several large investors have recently modified their holdings of the stock. Edmp Inc. increased its position in Ameriprise Financial by 31,635.5% during the fourth quarter. Edmp Inc. now owns 2,278,294 shares of the financial services provider's stock worth $7,317,000 after acquiring an additional 2,271,115 shares during the period. Moneta Group Investment Advisors LLC increased its position in Ameriprise Financial by 106,308.4% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 1,587,613 shares of the financial services provider's stock worth $494,335,000 after acquiring an additional 1,586,121 shares during the period. Norges Bank bought a new position in Ameriprise Financial during the fourth quarter worth about $389,527,000. Thrivent Financial for Lutherans increased its position in Ameriprise Financial by 1,166.6% during the second quarter. Thrivent Financial for Lutherans now owns 312,845 shares of the financial services provider's stock worth $74,358,000 after acquiring an additional 288,145 shares during the period. Finally, Price T Rowe Associates Inc. MD increased its position in Ameriprise Financial by 123.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 498,824 shares of the financial services provider's stock worth $155,318,000 after acquiring an additional 275,720 shares during the period. 81.66% of the stock is owned by institutional investors.
Ameriprise Financial Stock Performance
Ameriprise Financial stock opened at $297.16 on Friday. The stock has a 50-day simple moving average of $332.88 and a 200 day simple moving average of $310.84. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 1.43. Ameriprise Financial has a 12-month low of $219.99 and a 12-month high of $357.46. The stock has a market capitalization of $31.25 billion, a price-to-earnings ratio of 13.24, a P/E/G ratio of 0.52 and a beta of 1.49.
Ameriprise Financial (NYSE:AMP – Get Rating) last released its quarterly earnings results on Thursday, January 26th. The financial services provider reported $6.94 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $6.35 by $0.59. The business had revenue of $3.62 billion during the quarter, compared to analysts' expectations of $3.46 billion. Ameriprise Financial had a return on equity of 70.64% and a net margin of 17.91%. The firm's revenue for the quarter was down 3.8% compared to the same quarter last year. During the same period in the previous year, the business posted $6.15 earnings per share. On average, research analysts anticipate that Ameriprise Financial will post 30.69 earnings per share for the current fiscal year.
Ameriprise Financial Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Tuesday, February 28th. Investors of record on Friday, February 10th were issued a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a yield of 1.68%. The ex-dividend date of this dividend was Thursday, February 9th. Ameriprise Financial's payout ratio is 22.27%.
Ameriprise Financial Company Profile
(Get Rating)
Ameriprise Financial, Inc operates as a holding company. The firm provides financial planning, asset management and insurance services to individuals, businesses and institutions. It operates through the following business segments: Advice & Wealth Management, Asset Management, Retirement & Protection Solutions, and Corporate & Other.
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