Ameriprise Financial, Inc. (NYSE:AMP) Receives Average Rating of "Hold" from Analysts

Key Points

• Analyst consensus: Ameriprise has an average rating of "Hold" from 11 brokerages (1 sell, 5 hold, 4 buy, 1 strong buy) with a 1‑year average price target of $555.67.
• Insider selling: CFO Walter Stanley Berman sold 7,000 shares at ~$544.22 and insider Gumer Alvero sold 4,658 shares at ~$542.88; insiders sold 16,658 shares worth $8,998,675 in the last 90 days, with insiders owning 0.73% of the stock.
• Quarterly results and payout: Ameriprise beat expectations with Q EPS of $10.83 (vs. $10.33) and revenue of $4.92B (up 10.2% yr/yr), has a ROE of 63.04%, market cap ~$39.84B and pays an annualized dividend of $6.40 (yield ~1.5%).

Ameriprise Financial, Inc. (NYSE:AMP - Get Free Report) has received an average rating of "Hold" from the eleven brokerages that are currently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, five have issued a hold recommendation, four have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price objective among analysts that have covered the stock in the last year is $555.6667.

A number of research analysts recently issued reports on the stock. Royal Bank Of Canada reiterated an "outperform" rating and issued a $605.00 price target (up from $580.00) on shares of Ameriprise Financial in a research note on Monday, February 2nd. Raymond James Financial set a $582.00 price objective on shares of Ameriprise Financial and gave the company a "strong-buy" rating in a research report on Wednesday, February 11th. Piper Sandler upgraded shares of Ameriprise Financial from an "underweight" rating to a "neutral" rating and raised their price objective for the company from $434.00 to $530.00 in a report on Friday, January 30th. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Ameriprise Financial in a research report on Monday, December 29th. Finally, BMO Capital Markets reiterated a "market perform" rating on shares of Ameriprise Financial in a research note on Tuesday, March 3rd.

Insider Transactions at Ameriprise Financial

In related news, CFO Walter Stanley Berman sold 7,000 shares of the business's stock in a transaction that occurred on Thursday, February 5th. The stock was sold at an average price of $544.22, for a total transaction of $3,809,540.00. Following the completion of the sale, the chief financial officer owned 5,609 shares in the company, valued at $3,052,529.98. The trade was a 55.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Gumer Alvero sold 4,658 shares of the company's stock in a transaction that occurred on Monday, February 9th. The shares were sold at an average price of $542.88, for a total value of $2,528,735.04. Following the completion of the transaction, the insider directly owned 4,621 shares of the company's stock, valued at $2,508,648.48. This trade represents a 50.20% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 16,658 shares of company stock valued at $8,998,675. 0.73% of the stock is currently owned by corporate insiders.

Institutional Trading of Ameriprise Financial

Institutional investors have recently modified their holdings of the stock. SouthState Bank Corp raised its stake in Ameriprise Financial by 78.6% during the 4th quarter. SouthState Bank Corp now owns 50 shares of the financial services provider's stock worth $25,000 after acquiring an additional 22 shares in the last quarter. Holos Integrated Wealth LLC acquired a new position in Ameriprise Financial in the fourth quarter valued at $30,000. Heartwood Wealth Advisors LLC purchased a new position in shares of Ameriprise Financial during the third quarter worth about $32,000. Redmont Wealth Advisors LLC purchased a new position in shares of Ameriprise Financial during the third quarter worth about $32,000. Finally, Ares Financial Consulting LLC acquired a new stake in shares of Ameriprise Financial during the fourth quarter worth about $32,000. Hedge funds and other institutional investors own 83.95% of the company's stock.

Ameriprise Financial Stock Down 2.5%

Ameriprise Financial stock opened at $436.98 on Friday. The firm has a market capitalization of $39.84 billion, a P/E ratio of 12.02, a P/E/G ratio of 1.04 and a beta of 1.27. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 0.86. Ameriprise Financial has a twelve month low of $396.14 and a twelve month high of $550.18. The stock's fifty day simple moving average is $478.56 and its 200-day simple moving average is $480.39.

Ameriprise Financial (NYSE:AMP - Get Free Report) last issued its quarterly earnings results on Thursday, January 29th. The financial services provider reported $10.83 earnings per share for the quarter, topping the consensus estimate of $10.33 by $0.50. Ameriprise Financial had a return on equity of 63.04% and a net margin of 19.28%.The company had revenue of $4.92 billion for the quarter, compared to the consensus estimate of $4.75 billion. During the same quarter in the prior year, the business earned $9.54 EPS. Ameriprise Financial's revenue was up 10.2% on a year-over-year basis. As a group, equities analysts expect that Ameriprise Financial will post 38.64 earnings per share for the current fiscal year.

Ameriprise Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, February 27th. Shareholders of record on Monday, February 9th were issued a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date of this dividend was Monday, February 9th. Ameriprise Financial's payout ratio is 17.60%.

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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