Ameriprise Financial (NYSE:AMP) Reaches New 52-Week High at $444.99

Ameriprise Financial, Inc. (NYSE:AMP)’s stock price reached a new 52-week high during mid-day trading on Friday . The stock traded as high as $444.99 and last traded at $439.47, with a volume of 90211 shares traded. The stock had previously closed at $442.22.

Analyst Ratings Changes

Several research analysts have recently issued reports on AMP shares. Argus lifted their price target on Ameriprise Financial from $440.00 to $460.00 and gave the stock a “buy” rating in a research note on Monday, May 6th. Keefe, Bruyette & Woods boosted their target price on shares of Ameriprise Financial from $420.00 to $460.00 and gave the company a “market perform” rating in a research note on Wednesday, April 10th. Morgan Stanley boosted their target price on shares of Ameriprise Financial from $400.00 to $437.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 9th. Raymond James began coverage on shares of Ameriprise Financial in a research note on Thursday, March 21st. They issued a “market perform” rating for the company. Finally, Royal Bank of Canada boosted their target price on shares of Ameriprise Financial from $470.00 to $480.00 and gave the company an “outperform” rating in a research note on Wednesday, April 24th. One analyst has rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $450.88.

Ameriprise Financial Stock Down 0.3 %

The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.56 and a current ratio of 0.56. The company has a market cap of $43.79 billion, a PE ratio of 15.01, a PEG ratio of 0.75 and a beta of 1.36. The firm has a fifty day simple moving average of $426.52 and a 200 day simple moving average of $407.98.

Ameriprise Financial (NYSE:AMP) last posted its quarterly earnings results on Wednesday, April 24th. The financial services provider reported $8.39 EPS for the quarter, beating the consensus estimate of $8.10 by $0.29. The company had revenue of $4.15 billion during the quarter, compared to analysts’ expectations of $4.15 billion. Ameriprise Financial had a return on equity of 75.97% and a net margin of 19.42%. The firm’s revenue was up 10.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $7.25 EPS. Equities research analysts predict that Ameriprise Financial, Inc. will post 34.95 EPS for the current year.

Ameriprise Financial Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 17th. Stockholders of record on Monday, May 6th were issued a dividend of $1.48 per share. The ex-dividend date of this dividend was Friday, May 3rd. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.34%. This is a boost from Ameriprise Financial’s previous quarterly dividend of $1.35. Ameriprise Financial’s payout ratio is presently 20.15%.

Insider Transactions at Ameriprise Financial

In other news, SVP Dawn M. Brockman sold 224 shares of the business’s stock in a transaction dated Tuesday, March 26th. The stock was sold at an average price of $434.13, for a total transaction of $97,245.12. Following the completion of the sale, the senior vice president now owns 1,288 shares in the company, valued at approximately $559,159.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, SVP Dawn M. Brockman sold 224 shares of the business’s stock in a transaction dated Tuesday, March 26th. The stock was sold at an average price of $434.13, for a total transaction of $97,245.12. Following the completion of the sale, the senior vice president now owns 1,288 shares in the company, valued at approximately $559,159.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robert Francis Sharpe, Jr. sold 1,500 shares of the business’s stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $438.07, for a total value of $657,105.00. Following the sale, the director now owns 11,000 shares of the company’s stock, valued at approximately $4,818,770. The disclosure for this sale can be found here. In the last quarter, insiders sold 3,376 shares of company stock worth $1,476,274. 0.73% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Ameriprise Financial

A number of institutional investors and hedge funds have recently bought and sold shares of AMP. Norges Bank purchased a new position in Ameriprise Financial in the 4th quarter worth approximately $514,539,000. JPMorgan Chase & Co. boosted its holdings in Ameriprise Financial by 18.6% in the 1st quarter. JPMorgan Chase & Co. now owns 3,844,165 shares of the financial services provider’s stock worth $1,685,436,000 after acquiring an additional 603,267 shares during the period. First Trust Advisors LP boosted its holdings in Ameriprise Financial by 1,001.2% in the 4th quarter. First Trust Advisors LP now owns 564,110 shares of the financial services provider’s stock worth $214,266,000 after acquiring an additional 512,884 shares during the period. TD Asset Management Inc boosted its holdings in Ameriprise Financial by 151.5% in the 4th quarter. TD Asset Management Inc now owns 595,644 shares of the financial services provider’s stock worth $226,243,000 after acquiring an additional 358,780 shares during the period. Finally, Swedbank AB purchased a new position in Ameriprise Financial in the 1st quarter worth approximately $108,938,000. Hedge funds and other institutional investors own 83.95% of the company’s stock.

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.