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

Key Points

• Ameriprise Financial has a consensus analyst rating of “Hold” from 11 covering analysts, with an average 12-month price target of about $543.22.
• The company recently reported strong quarterly earnings, posting EPS of $11.26 versus estimates of $10.21, while revenue rose 9.7% year over year to $4.77 billion.
• Ameriprise also raised its quarterly dividend to $1.70 per share, up from $1.60, implying an annualized yield of 1.4%.

Ameriprise Financial, Inc. (NYSE:AMP - Get Free Report) has been assigned a consensus rating of "Hold" from the eleven analysts that are presently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $543.2222.

A number of brokerages have issued reports on AMP. Keefe, Bruyette & Woods initiated coverage on shares of Ameriprise Financial in a report on Friday, April 10th. They set a "hold" rating on the stock. Weiss Ratings lowered Ameriprise Financial from a "buy (b-)" rating to a "hold (c+)" rating in a report on Thursday. BMO Capital Markets lifted their price target on Ameriprise Financial from $470.00 to $490.00 and gave the company a "market perform" rating in a research report on Friday, April 24th. Piper Sandler boosted their price objective on Ameriprise Financial from $460.00 to $471.00 and gave the company a "neutral" rating in a research note on Monday, May 4th. Finally, Morgan Stanley increased their price objective on Ameriprise Financial from $452.00 to $467.00 and gave the stock an "underweight" rating in a report on Thursday, April 30th.

Insider Transactions at Ameriprise Financial

In related news, Director Robert Francis Sharpe, Jr. sold 1,200 shares of the company's stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $465.83, for a total transaction of $558,996.00. Following the sale, the director owned 6,300 shares of the company's stock, valued at approximately $2,934,729. This represents a 16.00% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Gerard P. Smyth sold 6,255 shares of the stock in a transaction that occurred on 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 completion of the sale, the executive vice president owned 6,103 shares in the company, valued at $2,883,789.56. This represents a 50.61% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 0.60% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. SouthState Bank Corp grew its position in 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 buying an additional 22 shares in the last quarter. Cassaday & Co Wealth Management LLC bought a new stake in shares of Ameriprise Financial during the 1st quarter valued at about $28,000. Holos Integrated Wealth LLC bought a new stake in shares of Ameriprise Financial during the 4th quarter valued at about $30,000. Ares Financial Consulting LLC purchased a new position in shares of Ameriprise Financial during the fourth quarter worth about $32,000. Finally, Prosperity Bancshares Inc purchased a new position in shares of Ameriprise Financial during the fourth quarter worth about $33,000. Institutional investors own 83.95% of the company's stock.

Ameriprise Financial Price Performance

Shares of NYSE:AMP opened at $488.68 on Monday. The firm has a market capitalization of $43.93 billion, a PE ratio of 12.15, a P/E/G ratio of 1.02 and a beta of 1.16. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 0.90. The company has a 50-day moving average price of $461.75 and a two-hundred day moving average price of $472.36. Ameriprise Financial has a twelve month low of $422.37 and a twelve month high of $550.18.

Ameriprise Financial (NYSE:AMP - Get Free Report) last announced its quarterly earnings results on Thursday, April 23rd. The financial services provider reported $11.26 EPS for the quarter, beating analysts' consensus estimates of $10.21 by $1.05. The company had revenue of $4.77 billion for the quarter, compared to analysts' expectations of $4.82 billion. Ameriprise Financial had a net margin of 20.57% and a return on equity of 62.88%. Ameriprise Financial's revenue was up 9.7% compared to the same quarter last year. During the same period in the prior year, the company posted $9.50 EPS. Equities analysts forecast that Ameriprise Financial will post 43.01 EPS for the current year.

Ameriprise Financial Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 22nd. Stockholders of record on Monday, May 4th were given 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 annualized dividend and a dividend yield of 1.4%. The ex-dividend date was Monday, May 4th. Ameriprise Financial's dividend payout ratio (DPR) is currently 16.91%.

Ameriprise Financial Company Profile

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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