Shares of Ameriprise Financial, Inc. (NYSE:AMP – Get Rating) have received an average recommendation of “Buy” from the thirteen analysts that are presently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and nine have assigned a buy recommendation to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $334.91.
Several research analysts have commented on AMP shares. Morgan Stanley lowered their price target on shares of Ameriprise Financial from $335.00 to $330.00 and set an “equal weight” rating for the company in a report on Tuesday, April 26th. StockNews.com started coverage on shares of Ameriprise Financial in a research report on Thursday, March 31st. They set a “hold” rating for the company. Zacks Investment Research downgraded shares of Ameriprise Financial from a “buy” rating to a “hold” rating and set a $316.00 price target for the company. in a research report on Wednesday, April 6th. Piper Sandler reduced their target price on shares of Ameriprise Financial from $285.00 to $275.00 and set an “underweight” rating for the company in a research note on Friday. Finally, UBS Group dropped their price target on shares of Ameriprise Financial from $360.00 to $350.00 and set a “buy” rating on the stock in a research note on Tuesday, April 26th.
In related news, CEO James M. Cracchiolo sold 56,622 shares of Ameriprise Financial stock in a transaction that occurred on Friday, March 25th. The stock was sold at an average price of $314.16, for a total transaction of $17,788,367.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Walter Stanley Berman sold 8,711 shares of Ameriprise Financial stock in a transaction that occurred on Monday, March 28th. The stock was sold at an average price of $312.01, for a total value of $2,717,919.11. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 67,377 shares of company stock valued at $21,148,716. Insiders own 1.00{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} of the company’s stock.
Several institutional investors have recently modified their holdings of AMP. Vanguard Group Inc. grew its stake in Ameriprise Financial by 2.3{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} in the 1st quarter. Vanguard Group Inc. now owns 13,681,421 shares of the financial services provider’s stock worth $4,109,352,000 after acquiring an additional 302,243 shares during the period. BlackRock Inc. grew its stake in shares of Ameriprise Financial by 2.1{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} during the 1st quarter. BlackRock Inc. now owns 8,592,034 shares of the financial services provider’s stock valued at $2,580,702,000 after buying an additional 178,170 shares during the period. State Street Corp grew its stake in shares of Ameriprise Financial by 0.8{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} during the 4th quarter. State Street Corp now owns 5,468,982 shares of the financial services provider’s stock valued at $1,649,773,000 after buying an additional 45,978 shares during the period. JPMorgan Chase & Co. grew its stake in shares of Ameriprise Financial by 0.6{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} during the 1st quarter. JPMorgan Chase & Co. now owns 3,650,545 shares of the financial services provider’s stock valued at $1,096,477,000 after buying an additional 21,757 shares during the period. Finally, Bank of New York Mellon Corp grew its stake in shares of Ameriprise Financial by 1.1{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} during the 3rd quarter. Bank of New York Mellon Corp now owns 2,675,963 shares of the financial services provider’s stock valued at $706,775,000 after buying an additional 29,863 shares during the period. Hedge funds and other institutional investors own 82.69{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} of the company’s stock.
Shares of AMP stock opened at $278.49 on Friday. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.94 and a current ratio of 0.94. The stock has a market capitalization of $30.61 billion, a P/E ratio of 10.69 and a beta of 1.50. The company has a 50 day moving average price of $281.86 and a 200 day moving average price of $294.29. Ameriprise Financial has a fifty-two week low of $236.35 and a fifty-two week high of $332.37.
Ameriprise Financial (NYSE:AMP – Get Rating) last announced its quarterly earnings data on Monday, April 25th. The financial services provider reported $5.98 earnings per share for the quarter, beating analysts’ consensus estimates of $5.93 by $0.05. Ameriprise Financial had a net margin of 22.45{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} and a return on equity of 50.02{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996}. The firm had revenue of $3.66 billion during the quarter, compared to analysts’ expectations of $3.72 billion. During the same quarter in the previous year, the business posted $5.43 earnings per share. The business’s quarterly revenue was up 9.1{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} compared to the same quarter last year. On average, research analysts forecast that Ameriprise Financial will post 25.49 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, May 20th. Stockholders of record on Monday, May 9th were given a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a dividend yield of 1.80{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996}. This is an increase from Ameriprise Financial’s previous quarterly dividend of $1.13. The ex-dividend date was Friday, May 6th. Ameriprise Financial’s dividend payout ratio (DPR) is presently 19.20{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996}.
Ameriprise Financial Company Profile (Get Rating)
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 four segments: Advice & Wealth Management, Asset Management, Retirement & Protection Solutions, and Corporate & Other.
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