Ameriprise Financial (NYSE:AMP) Hits New 1-Year High at $472.96

Ameriprise Financial, Inc. (NYSE:AMP) shares hit a new 52-week high during trading on Tuesday . The stock traded as high as $472.96 and last traded at $472.65, with a volume of 125639 shares traded. The stock had previously closed at $469.81.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Morgan Stanley dropped their target price on shares of Ameriprise Financial from $444.00 to $440.00 and set an “equal weight” rating on the stock in a report on Monday, July 29th. The Goldman Sachs Group downgraded shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $485.00 to $476.00 in a report on Thursday, September 26th. Piper Sandler dropped their target price on shares of Ameriprise Financial from $390.00 to $387.00 and set an “underweight” rating on the stock in a report on Friday, June 28th. UBS Group dropped their target price on shares of Ameriprise Financial from $500.00 to $495.00 and set a “buy” rating on the stock in a report on Tuesday, July 9th. Finally, Keefe, Bruyette & Woods dropped their price objective on shares of Ameriprise Financial from $470.00 to $460.00 and set a “market perform” rating on the stock in a report on Tuesday, July 30th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, Ameriprise Financial has an average rating of “Hold” and a consensus price target of $463.00.

Ameriprise Financial Stock Performance

The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.59 and a current ratio of 0.59. The firm’s 50-day moving average price is $435.13 and its two-hundred day moving average price is $430.89. The firm has a market capitalization of $47.08 billion, a price-to-earnings ratio of 15.99, a price-to-earnings-growth ratio of 0.80 and a beta of 1.35.

Ameriprise Financial (NYSE:AMP) last released its quarterly earnings results on Wednesday, July 24th. The financial services provider reported $8.72 EPS for the quarter, beating analysts’ consensus estimates of $8.53 by $0.19. The firm had revenue of $4.39 billion for the quarter, compared to analyst estimates of $4.24 billion. Ameriprise Financial had a net margin of 18.64% and a return on equity of 73.83%. The company’s revenue for the quarter was up 9.6% compared to the same quarter last year. During the same period in the previous year, the business earned $7.44 earnings per share. Sell-side analysts predict that Ameriprise Financial, Inc. will post 34.81 earnings per share for the current year.

Ameriprise Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 16th. Shareholders of record on Monday, August 5th were given a $1.48 dividend. The ex-dividend date was Monday, August 5th. This represents a $5.92 dividend on an annualized basis and a yield of 1.25%. Ameriprise Financial’s dividend payout ratio (DPR) is presently 20.15%.

Insider Transactions at Ameriprise Financial

In other news, VP William Davies sold 8,700 shares of the company’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 transaction, the vice president now directly owns 13,199 shares in the company, valued at $5,834,881.93. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.73% of the stock is owned by company insiders.

Institutional Investors Weigh In On Ameriprise Financial

A number of institutional investors and hedge funds have recently modified their holdings of the business. Empirical Finance LLC increased its stake in Ameriprise Financial by 3.0% in the first quarter. Empirical Finance LLC now owns 3,896 shares of the financial services provider’s stock valued at $1,708,000 after purchasing an additional 113 shares in the last quarter. Nomura Holdings Inc. bought a new stake in Ameriprise Financial in the fourth quarter valued at approximately $775,000. State Board of Administration of Florida Retirement System increased its stake in Ameriprise Financial by 7.9% in the first quarter. State Board of Administration of Florida Retirement System now owns 118,211 shares of the financial services provider’s stock valued at $51,828,000 after purchasing an additional 8,693 shares in the last quarter. BDF Gestion bought a new stake in Ameriprise Financial in the second quarter valued at approximately $2,836,000. Finally, Janney Montgomery Scott LLC increased its stake in Ameriprise Financial by 12.8% in the first quarter. Janney Montgomery Scott LLC now owns 18,797 shares of the financial services provider’s stock valued at $8,242,000 after purchasing an additional 2,139 shares in the last quarter. 83.95% of the stock is owned by institutional investors.

Ameriprise Financial Company Profile

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.