Analysts Set Ameriprise Financial, Inc. (NYSE:AMP) Price Target at $533.22

by · The Markets Daily

Shares of Ameriprise Financial, Inc. (NYSE:AMPGet Free Report) have been assigned a consensus recommendation of “Hold” from the eleven research firms that are covering the company, Marketbeat.com reports. Two research analysts have rated the stock with a sell rating, five have given a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. The average 12 month target price among brokerages that have covered the stock in the last year is $533.3333.

A number of brokerages have recently issued reports on AMP. Argus cut their price objective on shares of Ameriprise Financial from $568.00 to $554.00 and set a “buy” rating for the company in a research note on Thursday, November 13th. Royal Bank Of Canada lowered their price target on shares of Ameriprise Financial from $601.00 to $550.00 and set an “outperform” rating for the company in a research note on Monday, November 3rd. Evercore ISI reduced their price objective on Ameriprise Financial from $587.00 to $570.00 and set an “in-line” rating on the stock in a research note on Thursday, October 9th. Morgan Stanley boosted their target price on Ameriprise Financial from $484.00 to $485.00 and gave the company an “underweight” rating in a research note on Monday. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Ameriprise Financial in a report on Monday.

Check Out Our Latest Analysis on Ameriprise Financial

Ameriprise Financial Stock Performance

Shares of NYSE AMP opened at $500.97 on Thursday. The stock’s 50-day moving average is $469.31 and its 200 day moving average is $496.16. The stock has a market cap of $46.55 billion, a price-to-earnings ratio of 13.74, a P/E/G ratio of 1.33 and a beta of 1.26. Ameriprise Financial has a 1-year low of $396.14 and a 1-year high of $582.05. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 0.88.

Ameriprise Financial (NYSE:AMPGet Free Report) last issued its earnings results on Thursday, October 30th. The financial services provider reported $9.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $9.76 by $0.16. The business had revenue of $4.73 billion during the quarter, compared to analyst estimates of $4.51 billion. Ameriprise Financial had a return on equity of 64.97% and a net margin of 20.12%.Ameriprise Financial’s revenue for the quarter was up 9.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $9.02 earnings per share. On average, sell-side analysts anticipate that Ameriprise Financial will post 38.64 EPS for the current fiscal year.

Ameriprise Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, November 24th. Stockholders of record on Monday, November 10th were paid a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date of this dividend was Monday, November 10th. Ameriprise Financial’s dividend payout ratio is 17.55%.

Insider Activity at Ameriprise Financial

In related news, Director Robert Francis Sharpe, Jr. sold 1,500 shares of Ameriprise Financial stock in a transaction on Friday, November 21st. The shares were sold at an average price of $450.94, for a total value of $676,410.00. Following the transaction, the director directly owned 7,500 shares of the company’s stock, valued at $3,382,050. The trade was a 16.67% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.73% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Ameriprise Financial

A number of large investors have recently added to or reduced their stakes in AMP. Knights of Columbus Asset Advisors LLC boosted its stake in shares of Ameriprise Financial by 4.2% during the 2nd quarter. Knights of Columbus Asset Advisors LLC now owns 16,735 shares of the financial services provider’s stock worth $8,932,000 after acquiring an additional 667 shares during the last quarter. NorthRock Partners LLC lifted its position in Ameriprise Financial by 8.9% during the second quarter. NorthRock Partners LLC now owns 10,955 shares of the financial services provider’s stock valued at $5,847,000 after purchasing an additional 897 shares in the last quarter. Ascent Group LLC bought a new stake in Ameriprise Financial during the first quarter valued at about $371,000. Advisory Alpha LLC purchased a new stake in Ameriprise Financial in the first quarter worth about $265,000. Finally, Beutel Goodman & Co Ltd. increased its position in Ameriprise Financial by 18.0% in the second quarter. Beutel Goodman & Co Ltd. now owns 570,080 shares of the financial services provider’s stock worth $304,268,000 after buying an additional 86,983 shares in the last quarter. Institutional investors own 83.95% of the company’s stock.

Ameriprise Financial Company Profile

(Get Free Report)

Ameriprise Financial, Inc is a diversified financial services company headquartered in Minneapolis, Minnesota. The firm provides a range of advice-based wealth management, asset management and insurance products to individual and institutional clients. Its business model centers on delivering financial planning and investment advice through a network of financial advisors alongside proprietary product offerings designed to meet retirement, protection and accumulation needs.

Core products and services include comprehensive financial planning and advisory services, managed investment portfolios, retirement planning solutions, annuities and life insurance products.

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