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

Key Points

• Ameriprise Financial has a consensus analyst rating of "Hold", based on coverage from 11 analysts. The average 12-month price target is about $543.22.
• The company reported better-than-expected Q1 earnings, posting $11.26 EPS 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 from $1.60, bringing the annualized payout to $6.80 and the dividend yield to about 1.4%.

Shares of Ameriprise Financial, Inc. (NYSE:AMP - Get Free Report) have received a consensus recommendation of "Hold" from the eleven analysts that are covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, five have issued a hold recommendation, four have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $543.2222.

Several brokerages recently commented on AMP. 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 note on Wednesday, February 11th. Morgan Stanley raised their price objective on shares of Ameriprise Financial from $452.00 to $467.00 and gave the company an "underweight" rating in a research note on Thursday, April 30th. Royal Bank Of Canada reiterated an "outperform" rating and issued a $605.00 price objective (up from $580.00) on shares of Ameriprise Financial in a research note on Monday, February 2nd. Piper Sandler lifted their price target on Ameriprise Financial from $460.00 to $471.00 and gave the stock a "neutral" rating in a research note on Monday, May 4th. Finally, BMO Capital Markets lifted their price target on Ameriprise Financial from $470.00 to $490.00 and gave the stock a "market perform" rating in a research note on Friday, April 24th.

Insider Activity

In other news, Director Robert Francis Sharpe, Jr. sold 1,200 shares of Ameriprise Financial stock in a transaction on Friday, May 8th. The stock was sold at an average price of $465.83, for a total transaction of $558,996.00. Following the completion of the transaction, the director owned 6,300 shares of the company's stock, valued at $2,934,729. The trade was a 16.00% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 0.60% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. State Street Corp raised its stake in Ameriprise Financial by 0.4% in the 3rd quarter. State Street Corp now owns 4,420,072 shares of the financial services provider's stock valued at $2,171,360,000 after purchasing an additional 18,879 shares during the last quarter. Norges Bank acquired a new position in Ameriprise Financial in the 4th quarter valued at about $742,438,000. Boston Partners raised its stake in Ameriprise Financial by 1.1% in the 3rd quarter. Boston Partners now owns 1,193,048 shares of the financial services provider's stock valued at $586,083,000 after purchasing an additional 13,172 shares during the last quarter. AQR Capital Management LLC raised its stake in Ameriprise Financial by 84.2% in the 4th quarter. AQR Capital Management LLC now owns 1,085,889 shares of the financial services provider's stock valued at $532,455,000 after purchasing an additional 496,319 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in Ameriprise Financial by 2.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,024,758 shares of the financial services provider's stock valued at $455,387,000 after purchasing an additional 19,731 shares during the last quarter. Institutional investors and hedge funds own 83.95% of the company's stock.

Ameriprise Financial Stock Performance

NYSE:AMP opened at $470.53 on Friday. The firm's fifty day moving average price is $454.50 and its 200 day moving average price is $473.67. Ameriprise Financial has a 1-year low of $422.37 and a 1-year high of $550.18. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.66 and a quick ratio of 0.66. The firm has a market cap of $42.30 billion, a price-to-earnings ratio of 11.70, a price-to-earnings-growth ratio of 1.11 and a beta of 1.20.

Ameriprise Financial (NYSE:AMP - Get Free Report) last released its 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. Ameriprise Financial had a return on equity of 62.88% and a net margin of 20.57%.The company had revenue of $4.77 billion during the quarter, compared to the consensus estimate of $4.82 billion. During the same quarter last year, the company earned $9.50 earnings per share. Ameriprise Financial's quarterly revenue was up 9.7% compared to the same quarter last year. On average, sell-side analysts expect that Ameriprise Financial will post 42.63 EPS for the current year.

Ameriprise Financial Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 22nd. Stockholders of record on Monday, May 4th will be paid a dividend of $1.70 per share. This is a boost from Ameriprise Financial's previous quarterly dividend of $1.60. The ex-dividend date of this dividend is Monday, May 4th. This represents a $6.80 annualized dividend and a dividend yield of 1.4%. Ameriprise Financial's dividend payout ratio is presently 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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