Ameriprise Financial, Inc. (NYSE:AMP)’s share price hit a new 52-week high on Monday . The company traded as high as $165.79 and last traded at $165.71, with a volume of 3199 shares traded. The stock had previously closed at $163.87.
AMP has been the subject of several research analyst reports. Citigroup lowered their price objective on Ameriprise Financial from $178.00 to $170.00 and set a “buy” rating for the company in a research report on Friday, September 13th. ValuEngine raised Ameriprise Financial from a “strong sell” rating to a “sell” rating in a research note on Monday, November 25th. Zacks Investment Research lowered Ameriprise Financial from a “hold” rating to a “sell” rating and set a $149.00 target price on the stock. in a research report on Wednesday, October 16th. Finally, Morgan Stanley decreased their target price on Ameriprise Financial from $175.00 to $170.00 and set an “overweight” rating for the company in a research note on Tuesday, August 20th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and eight have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $173.00.
The firm has a market capitalization of $20.94 billion, a P/E ratio of 10.71 and a beta of 1.87. The company’s 50 day moving average is $154.41 and its 200-day moving average is $144.92. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.80.
Ameriprise Financial (NYSE:AMP) last posted its quarterly earnings results on Wednesday, October 23rd. The financial services provider reported $4.24 EPS for the quarter, topping analysts’ consensus estimates of $4.09 by $0.15. Ameriprise Financial had a net margin of 15.31% and a return on equity of 37.50%. The business had revenue of $3.30 billion during the quarter, compared to analysts’ expectations of $3 billion. During the same period last year, the company posted $3.74 earnings per share. The business’s quarterly revenue was up 3.3% on a year-over-year basis. On average, analysts predict that Ameriprise Financial, Inc. will post 16.25 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Monday, November 4th were given a dividend of $0.97 per share. The ex-dividend date was Friday, November 1st. This represents a $3.88 dividend on an annualized basis and a dividend yield of 2.43%. Ameriprise Financial’s dividend payout ratio (DPR) is presently 25.97%.
In related news, VP Karen Wilson Thissen sold 303 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $158.67, for a total transaction of $48,077.01. Following the transaction, the vice president now directly owns 14,599 shares of the company’s stock, valued at approximately $2,316,423.33. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider John Robert Woerner sold 6,477 shares of the stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $154.13, for a total value of $998,300.01. Following the completion of the transaction, the insider now owns 27,196 shares in the company, valued at approximately $4,191,719.48. The disclosure for this sale can be found here. Company insiders own 1.90% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Lenox Wealth Advisors LLC acquired a new stake in Ameriprise Financial in the 3rd quarter valued at $25,000. KCS Wealth Advisory acquired a new position in Ameriprise Financial during the third quarter worth $26,000. Tortoise Investment Management LLC lifted its stake in shares of Ameriprise Financial by 416.7% in the second quarter. Tortoise Investment Management LLC now owns 186 shares of the financial services provider’s stock valued at $27,000 after buying an additional 150 shares in the last quarter. Griffin Asset Management Inc. bought a new position in shares of Ameriprise Financial in the second quarter valued at $28,000. Finally, Advantage Investment Management LLC acquired a new position in shares of Ameriprise Financial during the second quarter valued at about $29,000. Hedge funds and other institutional investors own 80.42% of the company’s stock.
Ameriprise Financial Company Profile (NYSE:AMP)
Ameriprise Financial, Inc, through its subsidiaries, provides various financial products and services to individual and institutional clients in the United States and internationally. It operates through five segments: Advice & Wealth Management, Asset Management, Annuities, Protection, and Corporate & Other.
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