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

Ameriprise Financial, Inc. (NYSE:AMP) has earned an average rating of “Hold” from the ten research firms that are currently covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, five have given a hold recommendation and four have issued a buy recommendation on the company. The average 1-year price target among analysts that have covered the stock in the last year is $487.67.

A number of research firms recently commented on AMP. The Goldman Sachs Group downgraded shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and dropped their target price for the company from $485.00 to $476.00 in a research report on Thursday, September 26th. UBS Group lifted their target price on Ameriprise Financial from $490.00 to $555.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. Royal Bank of Canada upped their target price on 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 raised their price target on Ameriprise Financial from $475.00 to $510.00 and gave the stock a “market perform” rating in a research note on Tuesday, October 29th. Finally, Morgan Stanley boosted their price objective on Ameriprise Financial from $440.00 to $502.00 and gave the company an “equal weight” rating in a research note on Thursday, October 17th.

Ameriprise Financial Stock Performance

Shares of Ameriprise Financial stock opened at $561.21 on Wednesday. The company has a quick ratio of 0.59, a current ratio of 0.65 and a debt-to-equity ratio of 0.99. Ameriprise Financial has a 52 week low of $333.96 and a 52 week high of $569.47. The firm’s 50 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 P/E/G ratio of 0.96 and a beta of 1.34.

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 paid a dividend of $1.48 per share. The ex-dividend date is Monday, November 4th. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.05%. Ameriprise Financial’s dividend payout ratio (DPR) is 22.73%.

Insider Buying and Selling

In other Ameriprise Financial news, insider Gumer Alvero sold 2,325 shares of the business’s stock in a transaction that occurred on 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 in the company, valued at approximately $2,409,437.45. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, VP William Davies sold 8,700 shares of Ameriprise Financial 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 completion of the sale, the vice president now directly owns 13,199 shares in the company, valued at approximately $5,834,881.93. This trade 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 the SEC website. Also, insider Gumer Alvero sold 2,325 shares of the company’s stock in a transaction that occurred on Thursday, October 31st. The stock was sold at an average price of $516.05, for a total value of $1,199,816.25. Following the completion of the sale, the insider now owns 4,669 shares in the company, valued at approximately $2,409,437.45. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.73% of the stock is currently owned by corporate insiders.

Institutional Trading of Ameriprise Financial

Institutional investors have recently bought and sold shares of the company. Empowered Funds LLC grew its holdings in Ameriprise Financial by 13.7% during the 1st quarter. Empowered Funds LLC now owns 3,621 shares of the financial services provider’s stock valued at $1,588,000 after buying an additional 436 shares during the last quarter. Susquehanna Fundamental Investments LLC acquired a new position in Ameriprise Financial in the 1st quarter valued at about $570,000. Atomi Financial Group Inc. purchased a new position in Ameriprise Financial in the 1st quarter valued at about $207,000. Concurrent Investment Advisors LLC acquired a new stake in shares of Ameriprise Financial during the 1st quarter worth about $217,000. Finally, Bleakley Financial Group LLC grew its holdings in shares of Ameriprise Financial by 2.9% during the first quarter. Bleakley Financial Group LLC now owns 2,758 shares of the financial services provider’s stock worth $1,209,000 after buying an additional 77 shares in the last quarter. 83.95% of the stock is currently owned by hedge funds and other institutional investors.

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.