Ameriprise Financial, Inc. (NYSE:AMP) Stock Rated “Hold” by Sell-Side Brokerages

Shares of Ameriprise Financial, Inc. (NYSE:AMP) have been assigned a consensus recommendation of “Hold” from the eleven brokerages that are covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation, four have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $555.33.

Several research firms have commented on AMP. Zacks Research cut shares of Ameriprise Financial from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 21st. Piper Sandler increased their price target on Ameriprise Financial from $471.00 to $518.00 and gave the stock a “neutral” rating in a research note on Monday, July 13th. Morgan Stanley raised their price objective on Ameriprise Financial from $467.00 to $489.00 and gave the stock an “underweight” rating in a report on Friday, July 10th. Weiss Ratings raised Ameriprise Financial from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday, September 3rd. Finally, Keefe, Bruyette & Woods upped their target price on Ameriprise Financial from $515.00 to $545.00 and gave the company a “market perform” rating in a research note on Friday, July 24th.

Ameriprise Financial Price Performance

Ameriprise Financial stock opened at $493.17 on Friday. The stock has a market capitalization of $44.34 billion, a P/E ratio of 11.90, a P/E/G ratio of 0.87 and a beta of 1.14. Ameriprise Financial has a 12-month low of $422.37 and a 12-month high of $572.56. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.71 and a quick ratio of 0.71. The firm’s 50-day moving average is $547.39 and its two-hundred day moving average is $491.85.

Ameriprise Financial (NYSE:AMP) last posted its quarterly earnings data on Thursday, July 23rd. The financial services provider reported $11.07 earnings per share for the quarter, beating analysts’ consensus estimates of $10.81 by $0.26. Ameriprise Financial had a net margin of 20.24% and a return on equity of 64.19%. The business had revenue of $4.90 billion during the quarter, compared to analyst estimates of $4.87 billion. During the same quarter in the previous year, the business posted $9.11 earnings per share. The company’s revenue was up 11.6% on a year-over-year basis. Equities analysts predict that Ameriprise Financial will post 46.27 earnings per share for the current year.

Ameriprise Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 21st. Shareholders of record on Monday, August 3rd were issued a $1.70 dividend. The ex-dividend date was Monday, August 3rd. This represents a $6.80 annualized dividend and a yield of 1.4%. Ameriprise Financial’s payout ratio is 16.40%.

Insider Activity at Ameriprise Financial

In related news, SVP Dawn M. Brockman sold 472 shares of the firm’s stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $558.93, for a total value of $263,814.96. Following the sale, the senior vice president directly owned 713 shares of the company’s stock, valued at approximately $398,517.09. This trade represents a 39.83% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Walter Berman sold 11,012 shares of the business’s stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $548.95, for a total transaction of $6,045,037.40. Following the completion of the sale, the chief financial officer owned 5,609 shares of the company’s stock, valued at approximately $3,079,060.55. The trade was a 66.25% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 29,988 shares of company stock worth $16,316,497. 0.60% of the stock is owned by insiders.

Hedge Funds Weigh In On Ameriprise Financial

Hedge funds have recently made changes to their positions in the stock. Essex Financial Services Inc. increased its holdings in shares of Ameriprise Financial by 2.4% during the 4th quarter. Essex Financial Services Inc. now owns 904 shares of the financial services provider’s stock worth $443,000 after buying an additional 21 shares during the last quarter. SouthState Bank Corp boosted its holdings in Ameriprise Financial by 78.6% in the fourth quarter. SouthState Bank Corp now owns 50 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 22 shares during the last quarter. SlateStone Wealth LLC boosted its holdings in Ameriprise Financial by 3.8% in the fourth quarter. SlateStone Wealth LLC now owns 657 shares of the financial services provider’s stock valued at $322,000 after acquiring an additional 24 shares during the last quarter. Rexford Capital Inc. grew its position in Ameriprise Financial by 19.5% during the first quarter. Rexford Capital Inc. now owns 147 shares of the financial services provider’s stock valued at $65,000 after acquiring an additional 24 shares during the period. Finally, North Dakota State Investment Board grew its position in Ameriprise Financial by 0.9% during the second quarter. North Dakota State Investment Board now owns 2,716 shares of the financial services provider’s stock valued at $1,246,000 after acquiring an additional 24 shares during the period. Institutional investors and hedge funds own 83.95% of the company’s stock.

About Ameriprise Financial

Ameriprise Financial, Inc (NYSE: AMP) is a diversified financial services company that provides financial planning, investment advice, wealth management and retirement solutions to individuals and institutions. Its offerings include brokerage and advisory accounts, managed investment portfolios, banking services, annuities, life insurance and other protection products.

The company serves clients primarily in the United States through its network of financial advisors and branded businesses, including Ameriprise Financial and RiverSource.