Ameriprise Financial (NYSE:AMP) Hits New 1-Year High at $438.00

Ameriprise Financial, Inc. (NYSE:AMP) hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $438.00 and last traded at $434.70, with a volume of 55837 shares traded. The stock had previously closed at $431.22.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. StockNews.com downgraded shares of Ameriprise Financial from a “buy” rating to a “hold” rating in a research report on Wednesday, November 29th. Raymond James initiated coverage on shares of Ameriprise Financial in a research report on Thursday, March 21st. They issued a “market perform” rating on the stock. Evercore ISI downgraded shares of Ameriprise Financial from an “outperform” rating to an “in-line” rating and increased their price target for the company from $385.00 to $400.00 in a research report on Thursday, January 4th. Keefe, Bruyette & Woods increased their price target on shares of Ameriprise Financial from $400.00 to $420.00 and gave the company a “market perform” rating in a research report on Tuesday, January 30th. Finally, The Goldman Sachs Group upgraded shares of Ameriprise Financial from a “neutral” rating to a “buy” rating and increased their price target for the company from $355.00 to $452.00 in a research report on Wednesday, January 3rd. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $422.83.

Ameriprise Financial Trading Up 0.6 %

The firm has a market capitalization of $43.46 billion, a P/E ratio of 18.19, a PEG ratio of 0.80 and a beta of 1.36. The business has a 50 day moving average of $402.04 and a 200-day moving average of $366.48. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 1.17.

Ameriprise Financial (NYSE:AMP) last issued its quarterly earnings results on Thursday, January 25th. The financial services provider reported $7.75 earnings per share for the quarter, topping the consensus estimate of $7.67 by $0.08. The company had revenue of $3.99 billion during the quarter, compared to analysts’ expectations of $3.90 billion. Ameriprise Financial had a net margin of 16.27% and a return on equity of 77.39%. The business’s quarterly revenue was up 9.0% on a year-over-year basis. During the same period last year, the business earned $6.94 EPS. Analysts anticipate that Ameriprise Financial, Inc. will post 34.2 EPS for the current fiscal year.

Ameriprise Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, February 27th. Stockholders of record on Friday, February 9th were paid a dividend of $1.35 per share. The ex-dividend date was Thursday, February 8th. This represents a $5.40 annualized dividend and a dividend yield of 1.24%. Ameriprise Financial’s dividend payout ratio is currently 22.78%.

Insider Activity at Ameriprise Financial

In related news, CEO William F. Truscott sold 8,000 shares of the firm’s stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $412.05, for a total value of $3,296,400.00. Following the completion of the transaction, the chief executive officer now directly owns 13,134 shares of the company’s stock, valued at $5,411,864.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Ameriprise Financial news, insider Gumer Alvero sold 385 shares of the firm’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $400.98, for a total transaction of $154,377.30. Following the completion of the sale, the insider now owns 6,994 shares of the company’s stock, valued at approximately $2,804,454.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO William F. Truscott sold 8,000 shares of the firm’s stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $412.05, for a total value of $3,296,400.00. Following the sale, the chief executive officer now directly owns 13,134 shares of the company’s stock, valued at approximately $5,411,864.70. The disclosure for this sale can be found here. Over the last three months, insiders sold 87,285 shares of company stock valued at $34,741,478. 0.73% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Ameriprise Financial

A number of hedge funds and other institutional investors have recently modified their holdings of AMP. OFI Invest Asset Management bought a new position in shares of Ameriprise Financial in the third quarter worth $25,000. Financial Freedom LLC bought a new position in shares of Ameriprise Financial in the fourth quarter worth $27,000. Turtle Creek Wealth Advisors LLC bought a new position in shares of Ameriprise Financial in the fourth quarter worth $34,000. Carmel Capital Partners LLC bought a new position in shares of Ameriprise Financial in the third quarter worth $30,000. Finally, Wetzel Investment Advisors Inc. bought a new position in shares of Ameriprise Financial in the fourth quarter worth $34,000. Institutional investors and hedge funds own 83.95% of the company’s stock.

Ameriprise Financial Company Profile

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.