Ameriprise Financial, Inc. (NYSE:AMP – Get Rating) has been given an average rating of “Hold” by the twelve ratings firms that are currently covering the company, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, three have given a hold recommendation and six have issued a buy recommendation on the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $330.20.
AMP has been the subject of a number of recent research reports. The Goldman Sachs Group boosted their target price on Ameriprise Financial from $290.00 to $330.00 and gave the company a “neutral” rating in a research note on Wednesday, November 23rd. Morgan Stanley upped their target price on Ameriprise Financial from $310.00 to $340.00 and gave the stock an “equal weight” rating in a report on Thursday, November 17th. Royal Bank of Canada upped their target price on Ameriprise Financial from $310.00 to $350.00 and gave the stock an “outperform” rating in a report on Friday, October 28th. StockNews.com downgraded Ameriprise Financial from a “hold” rating to a “sell” rating in a research note on Thursday, December 8th. Finally, Piper Sandler upped their price target on Ameriprise Financial from $240.00 to $250.00 and gave the stock an “underweight” rating in a research note on Friday, October 7th.
Ameriprise Financial Price Performance
Ameriprise Financial stock opened at $321.28 on Friday. Ameriprise Financial has a 52 week low of $219.99 and a 52 week high of $339.41. The business has a 50-day simple moving average of $318.88 and a 200 day simple moving average of $282.98. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 1.60. The stock has a market cap of $34.19 billion, a price-to-earnings ratio of 13.40, a PEG ratio of 0.61 and a beta of 1.46.
Ameriprise Financial (NYSE:AMP – Get Rating) last issued its quarterly earnings results on Tuesday, October 25th. The financial services provider reported $6.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.82 by $0.61. Ameriprise Financial had a return on equity of 61.53% and a net margin of 19.17%. The firm had revenue of $3.49 billion during the quarter, compared to analyst estimates of $3.32 billion. During the same quarter in the previous year, the company posted $5.91 earnings per share. The company’s revenue was up 20.3% compared to the same quarter last year. On average, research analysts forecast that Ameriprise Financial will post 24.56 earnings per share for the current fiscal year.
Ameriprise Financial Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Friday, November 18th. Stockholders of record on Monday, November 7th were given a dividend of $1.25 per share. The ex-dividend date was Friday, November 4th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 1.56%. Ameriprise Financial’s payout ratio is 20.85%.
In related news, CEO James M. Cracchiolo sold 13,050 shares of Ameriprise Financial stock in a transaction dated Wednesday, November 23rd. The stock was sold at an average price of $333.02, for a total value of $4,345,911.00. Following the completion of the transaction, the chief executive officer now owns 160,597 shares in the company, valued at $53,482,012.94. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Ameriprise Financial news, CFO Walter Stanley Berman sold 11,983 shares of the firm’s stock in a transaction dated Tuesday, November 15th. The shares were sold at an average price of $327.81, for a total value of $3,928,147.23. Following the completion of the sale, the chief financial officer now owns 10,751 shares of the company’s stock, valued at $3,524,285.31. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO James M. Cracchiolo sold 13,050 shares of the firm’s stock in a transaction dated Wednesday, November 23rd. The stock was sold at an average price of $333.02, for a total transaction of $4,345,911.00. Following the completion of the sale, the chief executive officer now directly owns 160,597 shares of the company’s stock, valued at approximately $53,482,012.94. The disclosure for this sale can be found here. Insiders sold a total of 29,737 shares of company stock worth $9,796,822 over the last 90 days. Corporate insiders own 1.00% of the company’s stock.
Institutional Trading or Ameriprise Financial
Several institutional investors and hedge funds have recently modified their holdings of the stock. Better Money Decisions LLC purchased a new position in Ameriprise Financial during the second quarter valued at approximately $28,000. ACG Wealth purchased a new stake in shares of Ameriprise Financial during the second quarter valued at $30,000. Investors Asset Management of Georgia Inc. GA ADV purchased a new stake in shares of Ameriprise Financial during the second quarter valued at $31,000. Guardian Wealth Advisors LLC acquired a new position in Ameriprise Financial during the third quarter valued at $35,000. Finally, Vigilant Capital Management LLC lifted its position in Ameriprise Financial by 120.3% during the third quarter. Vigilant Capital Management LLC now owns 141 shares of the financial services provider’s stock valued at $36,000 after purchasing an additional 77 shares during the period. Institutional investors own 81.66% of the company’s stock.
About Ameriprise Financial
Ameriprise Financial, Inc, through 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.
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