Shares of Ameriprise Financial, Inc. (NYSE:AMP) have earned an average recommendation of “Buy” from the ten analysts that are covering the company, Marketbeat reports. Two investment analysts have rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 12-month price target among brokers that have covered the stock in the last year is $292.10.
A number of research analysts recently weighed in on the company. Morgan Stanley raised their price objective on Ameriprise Financial from $305.00 to $310.00 and gave the company an “equal weight” rating in a research report on Thursday, November 18th. Royal Bank of Canada raised their price objective on Ameriprise Financial from $325.00 to $350.00 and gave the company an “outperform” rating in a research report on Friday, October 29th. Credit Suisse Group raised their price objective on Ameriprise Financial from $317.00 to $348.00 and gave the company an “outperform” rating in a research report on Tuesday, November 2nd. They noted that the move was a valuation call. Finally, Wolfe Research assumed coverage on Ameriprise Financial in a research report on Tuesday, October 12th. They set an “outperform” rating and a $328.00 price objective for the company.
Shares of NYSE:AMP opened at $290.20 on Friday. Ameriprise Financial has a 52-week low of $182.83 and a 52-week high of $312.14. The firm has a market capitalization of $32.47 billion, a P/E ratio of 15.65 and a beta of 1.65. The stock has a 50 day moving average price of $292.90 and a 200-day moving average price of $270.40. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.13 and a current ratio of 1.13.
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Ameriprise Financial (NYSE:AMP) last announced its earnings results on Monday, October 25th. The financial services provider reported $5.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.49 by $0.42. Ameriprise Financial had a return on equity of 45.09{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} and a net margin of 17.39{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996}. The firm had revenue of $3.50 billion during the quarter, compared to analyst estimates of $3.49 billion. During the same quarter in the prior year, the company earned $4.27 EPS. The business’s revenue was up 17.4{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} compared to the same quarter last year. On average, equities analysts forecast that Ameriprise Financial will post 22.27 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, November 19th. Shareholders of record on Monday, November 8th were paid a dividend of $1.13 per share. The ex-dividend date was Friday, November 5th. This represents a $4.52 annualized dividend and a yield of 1.56{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996}. Ameriprise Financial’s dividend payout ratio is 24.38{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996}.
In related news, CEO James M. Cracchiolo sold 30,632 shares of Ameriprise Financial stock in a transaction on Friday, October 29th. The stock was sold at an average price of $303.67, for a total transaction of $9,302,019.44. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Walter Stanley Berman sold 15,986 shares of Ameriprise Financial stock in a transaction on Thursday, October 28th. The shares were sold at an average price of $302.37, for a total value of $4,833,686.82. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 48,118 shares of company stock worth $14,597,751. Company insiders own 1.10{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AMP. BlackRock Inc. raised its holdings in Ameriprise Financial by 7.4{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} during the second quarter. BlackRock Inc. now owns 9,616,938 shares of the financial services provider’s stock valued at $2,393,463,000 after acquiring an additional 662,711 shares during the period. Bain Capital Public Equity Management II LLC bought a new stake in Ameriprise Financial during the third quarter valued at about $137,568,000. FMR LLC raised its holdings in Ameriprise Financial by 30.5{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} during the second quarter. FMR LLC now owns 1,515,762 shares of the financial services provider’s stock valued at $377,243,000 after acquiring an additional 354,421 shares during the period. Amundi bought a new stake in Ameriprise Financial during the second quarter valued at about $82,602,000. Finally, AGF Investments Inc. raised its holdings in Ameriprise Financial by 154.9{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} during the second quarter. AGF Investments Inc. now owns 389,060 shares of the financial services provider’s stock valued at $96,829,000 after acquiring an additional 236,402 shares during the period. Institutional investors own 81.97{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} of the company’s stock.
Ameriprise Financial Company Profile
Ameriprise Financial, Inc operates as a holding company. The firm provides financial planning, asset management and insurance services to individuals, businesses and institutions. It operates through the following business segments: Advice & Wealth Management, Asset Management, Retirement & Protection Solutions, and Corporate & Other.
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