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

Key Points

• Analysts collectively rate Ameriprise Financial “Moderate Buy,” 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, exceeding the $10.81 consensus estimate, while revenue rose 11.6% year over year to $4.90 billion.
• Insiders sold nearly 30,000 shares worth $16.3 million over the past 90 days, while institutional investors own 83.95% of the company. The firm also maintains a $1.70 quarterly dividend, equivalent to a 1.3% yield.

Ameriprise Financial, Inc. (NYSE:AMP - Get Free Report) has been assigned a consensus recommendation of "Moderate Buy" from the eleven research firms that are presently covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell rating, four have given a hold rating, four have given a buy rating and two have given a strong buy rating to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $555.3333.

Several equities research analysts have recently commented on the stock. Weiss Ratings upgraded shares of Ameriprise Financial from a "buy (b-)" rating to a "buy (b)" rating in a research note on Thursday, September 3rd. Jefferies Financial Group raised their target price on Ameriprise Financial from $636.00 to $645.00 and gave the stock a "buy" rating in a research note on Friday, July 10th. Keefe, Bruyette & Woods boosted their price target on Ameriprise Financial from $515.00 to $545.00 and gave the company a "market perform" rating in a research note on Friday, July 24th. Morgan Stanley raised their price objective on Ameriprise Financial from $467.00 to $489.00 and gave the stock an "underweight" rating in a research note on Friday, July 10th. Finally, Piper Sandler upped their target price on Ameriprise Financial from $471.00 to $518.00 and gave the company a "neutral" rating in a research report on Monday, July 13th.

Insider Buying and Selling at Ameriprise Financial

In other news, CFO Walter Berman sold 11,012 shares of the firm's stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $548.95, for a total transaction of $6,045,037.40. Following the sale, the chief financial officer owned 5,609 shares of the company's stock, valued at $3,079,060.55. This trade represents a 66.25% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Dawn M. Brockman sold 472 shares of the company's stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $558.93, for a total transaction of $263,814.96. Following the completion of the transaction, the senior vice president owned 713 shares of the company's stock, valued at approximately $398,517.09. This trade represents a 39.83% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 29,988 shares of company stock worth $16,316,497 over the last ninety days. 0.60% of the stock is owned by insiders.

Institutional Trading of Ameriprise Financial

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

Ameriprise Financial Trading Down 0.4%

NYSE AMP opened at $543.63 on Friday. Ameriprise Financial has a 52 week low of $422.37 and a 52 week high of $572.56. The company has a 50 day moving average price of $549.36 and a 200 day moving average price of $490.58. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.99. The firm has a market cap of $48.87 billion, a PE ratio of 13.11, a price-to-earnings-growth ratio of 0.98 and a beta of 1.14.

Ameriprise Financial (NYSE:AMP - Get Free Report) last posted its quarterly earnings data on Thursday, July 23rd. The financial services provider reported $11.07 earnings per share for the quarter, topping analysts' consensus estimates of $10.81 by $0.26. Ameriprise Financial had a return on equity of 64.19% and a net margin of 20.24%.The firm had revenue of $4.90 billion during the quarter, compared to analysts' expectations of $4.87 billion. During the same quarter last year, the firm earned $9.11 EPS. The business's quarterly revenue was up 11.6% on a year-over-year basis. As a group, sell-side analysts forecast that Ameriprise Financial will post 46.27 EPS for the current fiscal year.

Ameriprise Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 21st. Stockholders of record on Monday, August 3rd were issued a $1.70 dividend. This represents a $6.80 annualized dividend and a dividend yield of 1.3%. The ex-dividend date of this dividend was Monday, August 3rd. Ameriprise Financial's dividend payout ratio is 16.40%.

About Ameriprise Financial

Ameriprise Financial, Inc NYSE: AMP is a diversified financial services company that provides financial planning, investment advice, wealth management and retirement solutions to individuals and institutions. Its offerings include brokerage and advisory accounts, managed investment portfolios, banking services, annuities, life insurance and other protection products.

The company serves clients primarily in the United States through its network of financial advisors and branded businesses, including Ameriprise Financial and RiverSource.

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