Ameriprise Financial, Inc. (NYSE:AMP) Receives $487.67 Average Target Price from Analysts

Shares of Ameriprise Financial, Inc. (NYSE:AMP) have been assigned a consensus rating of “Hold” from the ten research firms that are covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $487.67.

AMP has been the topic of several research analyst reports. The Goldman Sachs Group downgraded Ameriprise Financial from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $485.00 to $476.00 in a research note on Thursday, September 26th. Morgan Stanley upped their price objective on shares of Ameriprise Financial from $440.00 to $502.00 and gave the company an “equal weight” rating in a report on Thursday, October 17th. Royal Bank of Canada lifted their target price on shares of Ameriprise Financial from $535.00 to $550.00 and gave the stock an “outperform” rating in a research note on Friday, October 25th. Keefe, Bruyette & Woods upped their price target on shares of Ameriprise Financial from $475.00 to $510.00 and gave the company a “market perform” rating in a research note on Tuesday, October 29th. Finally, UBS Group raised their price target on shares of Ameriprise Financial from $490.00 to $555.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th.

Ameriprise Financial Price Performance

NYSE AMP opened at $562.44 on Wednesday. The firm’s fifty day simple moving average is $496.55 and its two-hundred day simple moving average is $453.22. The firm has a market capitalization of $54.56 billion, a P/E ratio of 21.59, a P/E/G ratio of 0.98 and a beta of 1.34. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.99. Ameriprise Financial has a 12-month low of $342.96 and a 12-month high of $569.47.

Ameriprise Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Monday, November 4th were issued a $1.48 dividend. This represents a $5.92 annualized dividend and a dividend yield of 1.05%. The ex-dividend date was Monday, November 4th. Ameriprise Financial’s dividend payout ratio (DPR) is currently 22.73%.

Insider Buying and Selling

In related news, VP William Davies sold 8,700 shares of the firm’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $442.07, for a total transaction of $3,846,009.00. Following the sale, the vice president now directly owns 13,199 shares of the company’s stock, valued at $5,834,881.93. This trade represents a 39.73 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Gumer Alvero sold 2,325 shares of Ameriprise Financial stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $516.05, for a total value of $1,199,816.25. Following the transaction, the insider now owns 4,669 shares of the company’s stock, valued at approximately $2,409,437.45. This represents a 33.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 30,415 shares of company stock valued at $15,829,445 over the last 90 days. Insiders own 0.73% of the company’s stock.

Institutional Trading of Ameriprise Financial

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Geller Advisors LLC grew its holdings in Ameriprise Financial by 2.2% in the third quarter. Geller Advisors LLC now owns 878 shares of the financial services provider’s stock valued at $412,000 after purchasing an additional 19 shares during the period. Legacy Capital Wealth Partners LLC increased its holdings in Ameriprise Financial by 2.0% in the 3rd quarter. Legacy Capital Wealth Partners LLC now owns 1,022 shares of the financial services provider’s stock worth $480,000 after acquiring an additional 20 shares in the last quarter. Ledyard National Bank increased its holdings in Ameriprise Financial by 3.2% in the 3rd quarter. Ledyard National Bank now owns 733 shares of the financial services provider’s stock worth $344,000 after acquiring an additional 23 shares in the last quarter. Heartland Bank & Trust Co raised its position in Ameriprise Financial by 0.9% during the second quarter. Heartland Bank & Trust Co now owns 2,755 shares of the financial services provider’s stock worth $1,177,000 after acquiring an additional 24 shares during the period. Finally, Great Valley Advisor Group Inc. lifted its holdings in Ameriprise Financial by 2.5% during the third quarter. Great Valley Advisor Group Inc. now owns 999 shares of the financial services provider’s stock valued at $470,000 after purchasing an additional 24 shares in the last quarter. 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.