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

Shares of Ameriprise Financial, Inc. (NYSE:AMP - Get Free Report) have earned an average rating of "Hold" from the seven research firms that are covering the company, MarketBeat reports. One analyst has rated the stock with a sell rating, four have given a hold rating, one has given a buy rating and one has given a strong buy rating to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $519.00.

Several analysts have issued reports on AMP shares. Royal Bank Of Canada boosted their target price on shares of Ameriprise Financial from $550.00 to $565.00 and gave the company an "outperform" rating in a research note on Tuesday, April 29th. Raymond James Financial raised shares of Ameriprise Financial from a "market perform" rating to a "strong-buy" rating and set a $518.00 target price on the stock in a research note on Monday, April 7th. Morgan Stanley boosted their target price on shares of Ameriprise Financial from $507.00 to $542.00 and gave the company an "equal weight" rating in a research note on Tuesday, March 4th. Wall Street Zen raised shares of Ameriprise Financial from a "sell" rating to a "hold" rating in a research note on Friday, May 30th. Finally, Keefe, Bruyette & Woods boosted their target price on shares of Ameriprise Financial from $510.00 to $520.00 and gave the company a "market perform" rating in a research note on Wednesday, May 7th.

Ameriprise Financial Price Performance

Shares of NYSE:AMP traded up $3.02 on Thursday, reaching $528.50. 654,277 shares of the company traded hands, compared to its average volume of 495,995. Ameriprise Financial has a fifty-two week low of $385.74 and a fifty-two week high of $582.05. The company's 50 day moving average is $502.29 and its 200-day moving average is $511.06. The stock has a market capitalization of $50.32 billion, a PE ratio of 17.96, a P/E/G ratio of 1.97 and a beta of 1.24. The company has a debt-to-equity ratio of 1.10, a current ratio of 0.60 and a quick ratio of 0.60.

Ameriprise Financial (NYSE:AMP - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The financial services provider reported $9.50 EPS for the quarter, beating 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 company had revenue of $4.35 billion during the quarter, compared to the consensus estimate of $4.45 billion. During the same quarter in the prior year, the firm earned $8.39 EPS. The company's quarterly revenue was up 3.6% compared to the same quarter last year. As a group, analysts anticipate that Ameriprise Financial will post 38.64 earnings per share for the current fiscal year.

Ameriprise Financial declared that its board has authorized a share buyback program on Thursday, April 24th that authorizes the company to repurchase $4.50 billion in outstanding shares. This repurchase authorization authorizes the financial services provider to purchase up to 9.9% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company's management believes its stock is undervalued.

Ameriprise Financial Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, May 19th. Stockholders of record on Monday, May 5th were paid a $1.60 dividend. The ex-dividend date was Monday, May 5th. This is an increase from Ameriprise Financial's previous quarterly dividend of $1.48. This represents a $6.40 dividend on an annualized basis and a dividend yield of 1.21%. Ameriprise Financial's dividend payout ratio is 21.75%.

Hedge Funds Weigh In On Ameriprise Financial

Hedge funds have recently modified their holdings of the stock. University of Texas Texas AM Investment Management Co. acquired a new position in shares of Ameriprise Financial in the fourth quarter worth $26,000. TCTC Holdings LLC bought a new stake in Ameriprise Financial in the fourth quarter worth $26,000. Rialto Wealth Management LLC bought a new stake in Ameriprise Financial in the fourth quarter worth $28,000. Whipplewood Advisors LLC bought a new stake in Ameriprise Financial in the fourth quarter worth $28,000. Finally, Sunbeam Capital Management LLC bought a new stake in Ameriprise Financial in the fourth quarter worth $31,000. 83.95% of the stock is owned by institutional investors and hedge funds.

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.