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

Shares of Ameriprise Financial, Inc. (NYSE:AMP) have received an average recommendation of “Hold” from the ten ratings firms that are presently covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $510.44.

AMP has been the topic of several recent analyst reports. Piper Sandler increased their price objective on Ameriprise Financial from $415.00 to $442.00 and gave the company an “underweight” rating in a research report on Friday, January 31st. Keefe, Bruyette & Woods increased their price objective on Ameriprise Financial from $560.00 to $570.00 and gave the company a “market perform” rating in a research report on Monday, February 3rd. UBS Group cut Ameriprise Financial from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $580.00 to $570.00 in a research report on Monday, January 6th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $625.00 price objective on shares of Ameriprise Financial in a research report on Monday, February 3rd.

Insiders Place Their Bets

In other news, CEO William F. Truscott sold 6,000 shares of Ameriprise Financial stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $540.29, for a total transaction of $3,241,740.00. Following the transaction, the chief executive officer now directly owns 14,023 shares of the company’s stock, valued at $7,576,486.67. The trade was a 29.97 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Robert Francis Sharpe, Jr. sold 1,000 shares of Ameriprise Financial stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $523.12, for a total value of $523,120.00. Following the transaction, the director now directly owns 10,000 shares in the company, valued at approximately $5,231,200. The trade was a 9.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 11,636 shares of company stock valued at $6,263,989. Insiders own 0.96% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in AMP. Howard Capital Management Group LLC lifted its position in shares of Ameriprise Financial by 11.1% during the 3rd quarter. Howard Capital Management Group LLC now owns 1,787 shares of the financial services provider’s stock valued at $840,000 after buying an additional 178 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its position in shares of Ameriprise Financial by 83.5% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 70,364 shares of the financial services provider’s stock valued at $33,058,000 after buying an additional 32,025 shares in the last quarter. Foundations Investment Advisors LLC purchased a new position in shares of Ameriprise Financial during the 3rd quarter valued at about $206,000. Sequoia Financial Advisors LLC lifted its position in shares of Ameriprise Financial by 55.0% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 5,503 shares of the financial services provider’s stock valued at $2,586,000 after buying an additional 1,952 shares in the last quarter. Finally, Eastern Bank purchased a new position in shares of Ameriprise Financial during the 3rd quarter valued at about $657,000. 83.95% of the stock is owned by hedge funds and other institutional investors.

Ameriprise Financial Trading Up 0.1 %

NYSE AMP opened at $525.64 on Friday. Ameriprise Financial has a 12 month low of $385.74 and a 12 month high of $582.05. The stock has a market cap of $50.52 billion, a P/E ratio of 15.90, a P/E/G ratio of 1.15 and a beta of 1.36. The stock’s fifty day moving average price is $539.74 and its 200-day moving average price is $513.19. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 1.01.

Ameriprise Financial (NYSE:AMP) last released its earnings results on Wednesday, January 29th. The financial services provider reported $9.36 EPS for the quarter, topping analysts’ consensus estimates of $9.16 by $0.20. Ameriprise Financial had a return on equity of 69.35% and a net margin of 19.70%. As a group, equities analysts forecast that Ameriprise Financial will post 38.64 EPS for the current fiscal year.

Ameriprise Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Monday, February 10th will be given a $1.48 dividend. The ex-dividend date of this dividend is Monday, February 10th. This represents a $5.92 annualized dividend and a yield of 1.13%. Ameriprise Financial’s payout ratio is 17.91%.

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.