Ameriprise Financial, Inc. (NYSE:AMP) Receives Average Recommendation of “Hold” from Analysts

Ameriprise Financial, Inc. (NYSE:AMP) has earned a consensus recommendation of “Hold” from the ten analysts that are covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation and four have issued a buy recommendation on the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $487.67.

Several research analysts have recently weighed in on AMP shares. Royal Bank of Canada boosted their price target on shares of Ameriprise Financial from $535.00 to $550.00 and gave the company an “outperform” rating in a research report on Friday, October 25th. Keefe, Bruyette & Woods boosted their target price on shares of Ameriprise Financial from $475.00 to $510.00 and gave the company a “market perform” rating in a report on Tuesday, October 29th. Morgan Stanley increased their price target on shares of Ameriprise Financial from $440.00 to $502.00 and gave the company an “equal weight” rating in a research note on Thursday, October 17th. UBS Group lifted their price target on shares of Ameriprise Financial from $490.00 to $555.00 and gave the company a “buy” rating in a research report on Tuesday, October 8th. Finally, The Goldman Sachs Group cut Ameriprise Financial from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $485.00 to $476.00 in a report on Thursday, September 26th.

Ameriprise Financial Stock Performance

NYSE AMP opened at $561.21 on Wednesday. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.59 and a current ratio of 0.65. The stock’s fifty day moving average is $486.74 and its two-hundred day moving average is $449.04. The firm has a market capitalization of $54.44 billion, a P/E ratio of 21.54, a price-to-earnings-growth ratio of 0.96 and a beta of 1.34. Ameriprise Financial has a fifty-two week low of $333.96 and a fifty-two week high of $569.47.

Ameriprise Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Monday, November 4th will be given a dividend of $1.48 per share. The ex-dividend date of this dividend is Monday, November 4th. This represents a $5.92 annualized dividend and a dividend yield of 1.05%. Ameriprise Financial’s dividend payout ratio is currently 22.73%.

Insider Activity

In related news, insider Gumer Alvero sold 2,325 shares of the stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $516.05, for a total transaction of $1,199,816.25. Following the transaction, the insider now owns 4,669 shares of the company’s stock, valued at approximately $2,409,437.45. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, VP William Davies sold 8,700 shares of the company’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $442.07, for a total transaction of $3,846,009.00. Following the sale, the vice president now owns 13,199 shares of the company’s stock, valued at approximately $5,834,881.93. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Gumer Alvero sold 2,325 shares of Ameriprise Financial stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $516.05, for a total value of $1,199,816.25. Following the completion of the transaction, the insider now owns 4,669 shares of the company’s stock, valued at approximately $2,409,437.45. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.73% of the company’s stock.

Institutional Investors Weigh In On Ameriprise Financial

Several large investors have recently bought and sold shares of AMP. DiNuzzo Private Wealth Inc. increased its stake in shares of Ameriprise Financial by 268.8% during the second quarter. DiNuzzo Private Wealth Inc. now owns 59 shares of the financial services provider’s stock worth $25,000 after buying an additional 43 shares during the period. Accordant Advisory Group Inc purchased a new stake in shares of Ameriprise Financial in the 2nd quarter valued at approximately $26,000. Mascoma Wealth Management LLC increased its position in shares of Ameriprise Financial by 153.8% in the 2nd quarter. Mascoma Wealth Management LLC now owns 66 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 40 shares during the last quarter. Bank & Trust Co acquired a new stake in shares of Ameriprise Financial in the 2nd quarter valued at $29,000. Finally, Hantz Financial Services Inc. purchased a new stake in shares of Ameriprise Financial during the 2nd quarter worth $29,000. 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.