Analysts Set Ameriprise Financial, Inc. (NYSE:AMP) Price Target at $517.13

Ameriprise Financial, Inc. (NYSE:AMP - Get Free Report) has been given a consensus rating of "Hold" by the eight ratings firms that are currently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $517.13.

AMP has been the subject of several research reports. Morgan Stanley upped their price objective on shares of Ameriprise Financial from $507.00 to $542.00 and gave the stock an "equal weight" rating in a report on Tuesday, March 4th. Raymond James upgraded shares of Ameriprise Financial from a "market perform" rating to a "strong-buy" rating and set a $518.00 price target on the stock in a research report on Monday, April 7th. Wall Street Zen upgraded shares of Ameriprise Financial from a "sell" rating to a "hold" rating in a report on Friday. Royal Bank of Canada lifted their price objective on Ameriprise Financial from $550.00 to $565.00 and gave the company an "outperform" rating in a research report on Tuesday, April 29th. Finally, Keefe, Bruyette & Woods increased their target price on Ameriprise Financial from $510.00 to $520.00 and gave the stock a "market perform" rating in a research report on Wednesday, May 7th.

Ameriprise Financial Price Performance

AMP traded down $1.30 during midday trading on Friday, hitting $508.62. The stock had a trading volume of 932,956 shares, compared to its average volume of 493,604. The business has a fifty day moving average of $483.11 and a 200 day moving average of $518.28. Ameriprise Financial has a 1 year low of $385.74 and a 1 year high of $582.05. The company has a market cap of $48.43 billion, a P/E ratio of 15.38, a price-to-earnings-growth ratio of 1.15 and a beta of 1.28. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.59 and a current ratio of 0.59.

Ameriprise Financial (NYSE:AMP - Get Free Report) last released its quarterly earnings data on Thursday, April 24th. The financial services provider reported $9.50 earnings per share for the quarter, beating analysts' consensus estimates of $9.08 by $0.42. The firm had revenue of $4.35 billion during the quarter, compared to analyst estimates of $4.45 billion. Ameriprise Financial had a return on equity of 69.35% and a net margin of 19.70%. The business's quarterly revenue was up 3.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $8.39 earnings per share. As a group, equities analysts forecast that Ameriprise Financial will post 38.64 earnings per share for the current fiscal year.

Ameriprise Financial Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, May 19th. Stockholders of record on Monday, May 5th were given a $1.60 dividend. This is a boost from Ameriprise Financial's previous quarterly dividend of $1.48. This represents a $6.40 dividend on an annualized basis and a dividend yield of 1.26%. The ex-dividend date of this dividend was Monday, May 5th. Ameriprise Financial's payout ratio is currently 21.75%.

Ameriprise Financial declared that its Board of Directors has initiated a share buyback plan on Thursday, April 24th that authorizes the company to buyback $4.50 billion in shares. This buyback authorization authorizes the financial services provider to reacquire up to 9.9% of its stock through open market purchases. Stock buyback plans are usually a sign that the company's management believes its shares are undervalued.

Institutional Investors Weigh In On Ameriprise Financial

Several hedge funds have recently added to or reduced their stakes in the stock. TCTC Holdings LLC bought a new position in Ameriprise Financial in the 4th quarter worth about $26,000. University of Texas Texas AM Investment Management Co. purchased a new position in Ameriprise Financial in the fourth quarter worth about $26,000. Whipplewood Advisors LLC bought a new position in shares of Ameriprise Financial in the fourth quarter worth approximately $28,000. Rialto Wealth Management LLC purchased a new stake in shares of Ameriprise Financial during the fourth quarter valued at approximately $28,000. Finally, TD Capital Management LLC increased its position in shares of Ameriprise Financial by 566.7% during the first quarter. TD Capital Management LLC now owns 60 shares of the financial services provider's stock valued at $29,000 after acquiring an additional 51 shares in the last quarter. 83.95% of the stock is owned by institutional investors.

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.