Ameriprise Financial, Inc. (NYSE:AMP) Given Average Rating of "Hold" by Brokerages

Key Points

• Ameriprise Financial has an average analyst rating of "Hold" from 11 covering firms, with an average 1-year price target of about $543.22. The ratings are mixed, including one sell, six holds, three buys, and one strong buy.
• The company reported better-than-expected earnings for the latest quarter, posting $11.26 EPS versus consensus estimates of $10.21, while revenue rose 9.7% year over year to $4.77 billion. Analysts currently expect full-year EPS of $42.63.
• Ameriprise also raised its quarterly dividend to $1.70 per share from $1.60, giving it an annualized payout of $6.80 and a yield of 1.5%. Meanwhile, insiders recently sold shares, including EVP Gerard P. Smyth and Director Robert Francis Sharpe, Jr.

Shares of Ameriprise Financial, Inc. (NYSE:AMP - Get Free Report) have received an average rating of "Hold" from the eleven ratings firms that are currently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, six have issued a hold rating, three have given a buy rating and one has given a strong buy rating to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $543.2222.

A number of research analysts recently weighed in on AMP shares. BMO Capital Markets lifted their target price on Ameriprise Financial from $470.00 to $490.00 and gave the company a "market perform" rating in a report on Friday, April 24th. Keefe, Bruyette & Woods initiated coverage on Ameriprise Financial in a research note on Friday, April 10th. They set a "hold" rating on the stock. Morgan Stanley boosted their price objective on Ameriprise Financial from $452.00 to $467.00 and gave the stock an "underweight" rating in a research note on Thursday, April 30th. Raymond James Financial set a $582.00 price objective on Ameriprise Financial and gave the stock a "strong-buy" rating in a research note on Wednesday, February 11th. Finally, Piper Sandler boosted their price objective on Ameriprise Financial from $460.00 to $471.00 and gave the stock a "neutral" rating in a research note on Monday, May 4th.

Insider Transactions at Ameriprise Financial

In other Ameriprise Financial news, EVP Gerard P. Smyth sold 6,255 shares of the business's stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $472.52, for a total transaction of $2,955,612.60. Following the transaction, the executive vice president owned 6,103 shares in the company, valued at $2,883,789.56. The trade was a 50.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Robert Francis Sharpe, Jr. sold 1,200 shares of the business's stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $465.83, for a total value of $558,996.00. Following the transaction, the director owned 6,300 shares in the company, valued at approximately $2,934,729. This represents a 16.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.60% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. SouthState Bank Corp increased its position in shares of Ameriprise Financial by 78.6% during the fourth quarter. SouthState Bank Corp now owns 50 shares of the financial services provider's stock worth $25,000 after acquiring an additional 22 shares during the last quarter. Cassaday & Co Wealth Management LLC purchased a new stake in shares of Ameriprise Financial during the first quarter worth about $28,000. Holos Integrated Wealth LLC purchased a new stake in shares of Ameriprise Financial during the fourth quarter worth about $30,000. Redmont Wealth Advisors LLC purchased a new stake in shares of Ameriprise Financial during the third quarter worth about $32,000. Finally, Ares Financial Consulting LLC purchased a new stake in shares of Ameriprise Financial during the fourth quarter worth about $32,000. Institutional investors and hedge funds own 83.95% of the company's stock.

Ameriprise Financial Price Performance

Shares of Ameriprise Financial stock opened at $451.50 on Thursday. Ameriprise Financial has a twelve month low of $422.37 and a twelve month high of $550.18. The stock has a market capitalization of $40.59 billion, a P/E ratio of 11.23, a PEG ratio of 0.95 and a beta of 1.16. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 0.90. The business's fifty day moving average price is $456.46 and its 200 day moving average price is $472.82.

Ameriprise Financial (NYSE:AMP - Get Free Report) last issued its earnings results on Thursday, April 23rd. The financial services provider reported $11.26 earnings per share for the quarter, beating analysts' consensus estimates of $10.21 by $1.05. Ameriprise Financial had a return on equity of 62.88% and a net margin of 20.57%.The firm had revenue of $4.77 billion for the quarter, compared to analysts' expectations of $4.82 billion. During the same quarter last year, the firm earned $9.50 earnings per share. The firm's revenue for the quarter was up 9.7% compared to the same quarter last year. As a group, research analysts anticipate that Ameriprise Financial will post 42.63 earnings per share for the current year.

Ameriprise Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 22nd. Shareholders of record on Monday, May 4th were paid a dividend of $1.70 per share. This is a boost from Ameriprise Financial's previous quarterly dividend of $1.60. This represents a $6.80 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date was Monday, May 4th. Ameriprise Financial's payout ratio is presently 16.91%.

About Ameriprise Financial

Ameriprise Financial, Inc is a diversified financial services company headquartered in Minneapolis, Minnesota. The firm provides a range of advice-based wealth management, asset management and insurance products to individual and institutional clients. Its business model centers on delivering financial planning and investment advice through a network of financial advisors alongside proprietary product offerings designed to meet retirement, protection and accumulation needs.

Core products and services include comprehensive financial planning and advisory services, managed investment portfolios, retirement planning solutions, annuities and life insurance products.

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