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

Key Points

• Ameriprise Financial has received a consensus rating of "Hold" from eight research firms, with two analysts rating the stock as a sell and one as a strong buy.
• The average 1-year price target for Ameriprise Financial is approximately $534.71, reflecting varying expectations among analysts.
• The company recently reported better-than-expected earnings, with an EPS of $9.11 for the quarter, exceeding the consensus estimate of $9.00.

Ameriprise Financial, Inc. (NYSE:AMP - Get Free Report) has received an average recommendation of "Hold" from the eight brokerages that are covering the company, Marketbeat reports. Two analysts have rated the stock with a sell recommendation, four have issued a hold recommendation, one has given a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $534.7143.

A number of brokerages have issued reports on AMP. Royal Bank Of Canada lifted their price objective on Ameriprise Financial from $595.00 to $601.00 and gave the company an "outperform" rating in a report on Wednesday, July 30th. Wall Street Zen raised Ameriprise Financial from a "sell" rating to a "hold" rating in a report on Friday, May 30th. Piper Sandler lifted their price objective on Ameriprise Financial from $423.00 to $434.00 and gave the company an "underweight" rating in a report on Thursday, July 3rd. Keefe, Bruyette & Woods lifted their price objective on Ameriprise Financial from $520.00 to $550.00 and gave the company a "market perform" rating in a report on Wednesday, July 9th. Finally, Raymond James Financial lifted their price objective on Ameriprise Financial from $518.00 to $582.00 and gave the company a "strong-buy" rating in a report on Friday, July 25th.

Ameriprise Financial Price Performance

Shares of AMP stock traded down $2.23 during trading hours on Tuesday, hitting $498.74. The company had a trading volume of 137,421 shares, compared to its average volume of 497,509. Ameriprise Financial has a 12 month low of $396.14 and a 12 month high of $582.05. The firm has a market capitalization of $47.02 billion, a price-to-earnings ratio of 15.52, a PEG ratio of 1.05 and a beta of 1.27. The firm's fifty day moving average is $516.65 and its 200 day moving average is $503.22. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.62 and a current ratio of 0.62.

Ameriprise Financial (NYSE:AMP - Get Free Report) last released its quarterly earnings data on Thursday, July 24th. The financial services provider reported $9.11 earnings per share for the quarter, beating the consensus estimate of $9.00 by $0.11. Ameriprise Financial had a return on equity of 65.90% and a net margin of 18.30%.The company had revenue of $4.49 billion for the quarter, compared to analyst estimates of $4.33 billion. During the same period in the prior year, the company posted $8.72 EPS. The company's revenue was up 2.2% compared to the same quarter last year. On average, sell-side analysts predict that Ameriprise Financial will post 38.64 EPS for the current fiscal year.

Ameriprise Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 18th. Shareholders of record on Monday, August 4th were issued a dividend of $1.60 per share. The ex-dividend date of this dividend was Monday, August 4th. This represents a $6.40 dividend on an annualized basis and a dividend yield of 1.3%. Ameriprise Financial's dividend payout ratio (DPR) is presently 19.91%.

Insider Transactions at Ameriprise Financial

In related news, CEO William F. Truscott sold 9,929 shares of Ameriprise Financial stock in a transaction dated Tuesday, August 19th. The stock was sold at an average price of $506.89, for a total value of $5,032,910.81. Following the completion of the transaction, the chief executive officer directly owned 11,047 shares of the company's stock, valued at $5,599,613.83. The trade was a 47.34% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Heather J. Melloh sold 1,500 shares of Ameriprise Financial stock in a transaction dated Thursday, September 4th. The shares were sold at an average price of $512.34, for a total value of $768,510.00. Following the completion of the transaction, the executive vice president directly owned 2,562 shares of the company's stock, valued at $1,312,615.08. This represents a 36.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.73% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. GAMMA Investing LLC lifted its holdings in Ameriprise Financial by 49,248.9% during the 1st quarter. GAMMA Investing LLC now owns 2,114,108 shares of the financial services provider's stock worth $1,023,461,000 after buying an additional 2,109,824 shares in the last quarter. Norges Bank acquired a new position in Ameriprise Financial during the 2nd quarter worth $693,736,000. JPMorgan Chase & Co. lifted its holdings in Ameriprise Financial by 21.3% during the 1st quarter. JPMorgan Chase & Co. now owns 5,824,915 shares of the financial services provider's stock worth $2,819,900,000 after buying an additional 1,023,002 shares in the last quarter. Nuveen LLC acquired a new position in Ameriprise Financial during the 1st quarter worth $469,334,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in Ameriprise Financial by 55.0% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,244,788 shares of the financial services provider's stock worth $1,086,724,000 after purchasing an additional 796,925 shares during 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.