Ameriprise Financial, Inc. (NYSE:AMP) Given Average Recommendation of "Moderate Buy" by Analysts

Key Points

• Analysts maintain a “Moderate Buy” consensus on Ameriprise Financial, with four buy ratings, two strong-buy ratings, four holds and one sell. The average 12-month price target is $555.33.
• Ameriprise reported quarterly EPS of $11.07, beating estimates of $10.81, while revenue rose 11.6% year over year to $4.90 billion. Shares opened at $561, near their 52-week high of $572.56.
• Insiders sold nearly $16.3 million of company stock over the past 90 days, while institutional investors and hedge funds own 83.95% of shares. The company also pays a quarterly dividend of $1.70, equivalent to a 1.2% yield.

Shares of Ameriprise Financial, Inc. (NYSE:AMP - Get Free Report) have received a consensus recommendation of "Moderate Buy" from the eleven analysts that are currently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, four have given a hold rating, four have issued a buy rating and two have given a strong buy rating to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $555.3333.

A number of research firms have commented on AMP. Piper Sandler lifted their price objective on shares of Ameriprise Financial from $471.00 to $518.00 and gave the stock a "neutral" rating in a report on Monday, July 13th. Weiss Ratings raised shares of Ameriprise Financial from a "hold (c+)" rating to a "buy (b-)" rating in a report on Friday, July 17th. Keefe, Bruyette & Woods raised their price target on shares of Ameriprise Financial from $515.00 to $545.00 and gave the stock a "market perform" rating in a research report on Friday, July 24th. Morgan Stanley lifted their price target on shares of Ameriprise Financial from $467.00 to $489.00 and gave the company an "underweight" rating in a report on Friday, July 10th. Finally, Jefferies Financial Group boosted their price objective on shares of Ameriprise Financial from $636.00 to $645.00 and gave the company a "buy" rating in a research report on Friday, July 10th.

Insider Buying and Selling

In other news, EVP Deirdre Davey Mcgraw sold 2,400 shares of the stock in a transaction that occurred on Thursday, August 6th. The stock was sold at an average price of $558.28, for a total transaction of $1,339,872.00. Following the sale, the executive vice president directly owned 3,373 shares in the company, valued at approximately $1,883,078.44. This represents a 41.57% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider William Jerryl Williams sold 8,210 shares of the firm's stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $539.35, for a total value of $4,428,063.50. Following the completion of the sale, the insider directly owned 6,780 shares in the company, valued at approximately $3,656,793. This trade represents a 54.77% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 29,988 shares of company stock valued at $16,316,497. 0.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Ameriprise Financial

Several large investors have recently added to or reduced their stakes in the stock. SouthState Bank Corp grew its position in shares of Ameriprise Financial by 78.6% during the fourth quarter. SouthState Bank Corp now owns 50 shares of the financial services provider's stock worth $25,000 after acquiring an additional 22 shares during the last quarter. Twin Lakes Capital Management LLC acquired a new stake in shares of Ameriprise Financial in the 2nd quarter worth about $25,000. Cassaday & Co Wealth Management LLC bought a new stake in Ameriprise Financial in the 1st quarter valued at about $28,000. University of Texas Texas AM Investment Management Co. bought a new stake in Ameriprise Financial in the 2nd quarter valued at about $28,000. Finally, Fiduciary Financial Advisors acquired a new position in Ameriprise Financial during the 2nd quarter valued at about $30,000. 83.95% of the stock is owned by institutional investors and hedge funds.

Ameriprise Financial Trading Up 1.0%

NYSE:AMP opened at $561.00 on Tuesday. The company has a market cap of $50.43 billion, a PE ratio of 13.53, a P/E/G ratio of 0.74 and a beta of 1.14. The business's 50 day moving average is $519.69 and its two-hundred day moving average is $481.87. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.99. Ameriprise Financial has a 52 week low of $422.37 and a 52 week high of $572.56.

Ameriprise Financial (NYSE:AMP - Get Free Report) last issued its quarterly earnings results on Thursday, July 23rd. The financial services provider reported $11.07 earnings per share for the quarter, beating analysts' consensus estimates of $10.81 by $0.26. The business had revenue of $4.90 billion during the quarter, compared to the consensus estimate of $4.87 billion. Ameriprise Financial had a return on equity of 64.19% and a net margin of 20.24%.The business's quarterly revenue was up 11.6% on a year-over-year basis. During the same period in the previous year, the business earned $9.11 EPS. On average, analysts predict that Ameriprise Financial will post 46.27 EPS for the current year.

Ameriprise Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 21st. Shareholders of record on Monday, August 3rd were paid a $1.70 dividend. This represents a $6.80 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date was Monday, August 3rd. Ameriprise Financial's payout ratio is presently 16.40%.

About Ameriprise Financial

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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