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

Ameriprise Financial, Inc. (NYSE:AMP - Get Free Report) has received a consensus rating of "Hold" from the seven analysts that are currently covering the company, Marketbeat.com reports. Two research analysts have rated the stock with a sell recommendation, three have issued a hold recommendation, one has issued a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $524.71.

AMP has been the subject of several recent research reports. Raymond James Financial upgraded Ameriprise Financial from a "market perform" rating to a "strong-buy" rating and set a $518.00 price objective for the company in a report on Monday, April 7th. Keefe, Bruyette & Woods boosted their price target on Ameriprise Financial from $520.00 to $550.00 and gave the stock a "market perform" rating in a research note on Wednesday, July 9th. Piper Sandler lifted their target price on Ameriprise Financial from $423.00 to $434.00 and gave the stock an "underweight" rating in a report on Thursday, July 3rd. Wall Street Zen raised Ameriprise Financial from a "sell" rating to a "hold" rating in a report on Friday, May 30th. Finally, Royal Bank Of Canada lifted their price target on Ameriprise Financial from $565.00 to $595.00 and gave the company an "outperform" rating in a research report on Thursday, July 10th.

Ameriprise Financial Stock Performance

NYSE:AMP opened at $544.46 on Monday. The stock's fifty day moving average is $521.30 and its 200 day moving average is $511.23. Ameriprise Financial has a fifty-two week low of $385.74 and a fifty-two week high of $582.05. The firm has a market capitalization of $51.84 billion, a PE ratio of 18.50, a PEG ratio of 1.16 and a beta of 1.23. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.60 and a current ratio of 0.60.

Ameriprise Financial (NYSE:AMP - Get Free Report) last released its earnings results on Thursday, April 24th. The financial services provider reported $9.50 earnings per share for the quarter, topping analysts' consensus estimates of $9.08 by $0.42. Ameriprise Financial had a return on equity of 68.93% and a net margin of 17.14%. The business had revenue of $4.35 billion for the quarter, compared to analyst estimates of $4.45 billion. During the same quarter last year, the firm posted $8.39 earnings per share. The business's revenue was up 3.6% compared to the same quarter last year. On average, sell-side analysts anticipate that Ameriprise Financial will post 38.64 earnings per share for the current year.

Ameriprise Financial declared that its board has approved a share repurchase plan on Thursday, April 24th that allows the company to repurchase $4.50 billion in outstanding shares. This repurchase authorization allows the financial services provider to reacquire up to 9.9% of its stock through open market purchases. Stock repurchase plans are often an indication that the company's board believes its stock is undervalued.

Ameriprise Financial Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, May 19th. Shareholders of record on Monday, May 5th were issued a dividend of $1.60 per share. This is an increase from Ameriprise Financial's previous quarterly dividend of $1.48. The ex-dividend date was Monday, May 5th. This represents a $6.40 annualized dividend and a yield of 1.18%. Ameriprise Financial's dividend payout ratio is 21.75%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. University of Texas Texas AM Investment Management Co. purchased a new position in shares of Ameriprise Financial in the 4th quarter valued at about $26,000. Sunbeam Capital Management LLC acquired a new stake in shares of Ameriprise Financial in the 4th quarter valued at about $31,000. TD Capital Management LLC boosted its position in shares of Ameriprise Financial by 566.7% in the 1st quarter. TD Capital Management LLC now owns 60 shares of the financial services provider's stock valued at $29,000 after purchasing an additional 51 shares during the period. Wealth Preservation Advisors LLC acquired a new stake in shares of Ameriprise Financial in the 1st quarter valued at about $29,000. Finally, WPG Advisers LLC acquired a new stake in shares of Ameriprise Financial in the 1st quarter valued at about $33,000. Hedge funds and other institutional investors 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.

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