Ameriprise Financial, Inc. (NYSE:AMP) Given Average Rating of “Hold” by Brokerages

Shares of Ameriprise Financial, Inc. (NYSE:AMP) have been given a consensus recommendation of “Hold” by the ten ratings firms that are covering the firm, MarketBeat reports. 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. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $487.67.

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

Ameriprise Financial Stock Up 0.4 %

AMP stock opened at $549.76 on Friday. The stock’s 50 day moving average is $538.41 and its 200-day moving average is $471.41. Ameriprise Financial has a twelve month low of $368.41 and a twelve month high of $577.00. The firm has a market capitalization of $53.33 billion, a PE ratio of 21.10, a P/E/G ratio of 0.96 and a beta of 1.34. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.99.

Ameriprise Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Monday, November 4th were given a $1.48 dividend. This represents a $5.92 dividend on an annualized basis and a yield of 1.08%. The ex-dividend date of this dividend was Monday, November 4th. Ameriprise Financial’s dividend payout ratio is currently 22.73%.

Insider Activity

In related news, insider Gumer Alvero sold 2,325 shares of the company’s stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $516.05, for a total transaction of $1,199,816.25. Following the sale, the insider now directly owns 4,669 shares in the company, valued at approximately $2,409,437.45. This represents a 33.24 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Walter Stanley Berman sold 8,655 shares of the business’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $564.16, for a total transaction of $4,882,804.80. Following the sale, the chief financial officer now directly owns 6,409 shares in the company, valued at $3,615,701.44. The trade was a 57.45 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 21,715 shares of company stock valued at $11,983,436 in the last 90 days. Insiders own 0.73% of the company’s stock.

Institutional Trading of Ameriprise Financial

Institutional investors have recently added to or reduced their stakes in the stock. Copley Financial Group Inc. purchased a new stake in shares of Ameriprise Financial in the third quarter worth about $467,000. Oddo BHF Asset Management Sas bought a new stake in Ameriprise Financial during the 3rd quarter worth approximately $1,703,000. Old North State Trust LLC lifted its stake in Ameriprise Financial by 1.0% in the 3rd quarter. Old North State Trust LLC now owns 2,369 shares of the financial services provider’s stock worth $1,113,000 after purchasing an additional 24 shares in the last quarter. Asset Advisors Investment Management LLC boosted its holdings in Ameriprise Financial by 3.2% in the 3rd quarter. Asset Advisors Investment Management LLC now owns 23,377 shares of the financial services provider’s stock valued at $10,983,000 after purchasing an additional 716 shares during the period. Finally, Synovus Financial Corp grew its position in shares of Ameriprise Financial by 1.4% during the 3rd quarter. Synovus Financial Corp now owns 2,812 shares of the financial services provider’s stock valued at $1,321,000 after purchasing an additional 38 shares in the last quarter. Hedge funds and other institutional investors own 83.95% of the company’s stock.

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.