Ameriprise Financial (NYSE:AMP) Sets New 12-Month High at $440.67

Ameriprise Financial, Inc. (NYSE:AMP - Get Free Report) hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $440.67 and last traded at $440.28, with a volume of 37845 shares changing hands. The stock had previously closed at $436.22.

Analyst Ratings Changes

A number of research analysts recently issued reports on AMP shares. UBS Group boosted their price objective on shares of Ameriprise Financial from $440.00 to $445.00 and gave the company a "buy" rating in a report on Thursday, January 25th. The Goldman Sachs Group boosted their price objective on shares of Ameriprise Financial from $437.00 to $488.00 and gave the company a "buy" rating in a report on Wednesday, March 27th. Evercore ISI downgraded shares of Ameriprise Financial from an "outperform" rating to an "in-line" rating and increased their price objective for the stock from $385.00 to $400.00 in a research report on Thursday, January 4th. Royal Bank of Canada increased their price objective on shares of Ameriprise Financial from $410.00 to $420.00 and gave the stock an "outperform" rating in a research report on Monday, January 22nd. Finally, Raymond James began coverage on shares of Ameriprise Financial in a research report on Thursday, March 21st. They set a "market perform" rating for the company. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $428.83.

Ameriprise Financial Trading Down 1.7 %

The firm has a market cap of $42.97 billion, a P/E ratio of 18.09, a P/E/G ratio of 0.80 and a beta of 1.36. The business's 50-day moving average is $409.68 and its two-hundred day moving average is $370.71. The company has a debt-to-equity ratio of 1.17, a current ratio of 0.56 and a quick ratio of 0.56.

Ameriprise Financial (NYSE:AMP - Get Free Report) last released its earnings results on Thursday, January 25th. The financial services provider reported $7.75 earnings per share for the quarter, beating analysts' consensus estimates of $7.67 by $0.08. The business had revenue of $3.99 billion during the quarter, compared to the consensus estimate of $3.90 billion. Ameriprise Financial had a net margin of 16.27% and a return on equity of 77.39%. The firm's revenue for the quarter was up 9.0% compared to the same quarter last year. During the same quarter last year, the firm earned $6.94 earnings per share. As a group, analysts predict that Ameriprise Financial, Inc. will post 34.36 earnings per share for the current fiscal year.

Ameriprise Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, February 27th. Investors of record on Friday, February 9th were given a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a yield of 1.26%. The ex-dividend date of this dividend was Thursday, February 8th. Ameriprise Financial's dividend payout ratio (DPR) is currently 22.78%.

Insider Activity at Ameriprise Financial

In other Ameriprise Financial news, insider Gumer Alvero sold 1,652 shares of the stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $437.00, for a total value of $721,924.00. Following the completion of the sale, the insider now owns 6,994 shares in the company, valued at $3,056,378. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Ameriprise Financial news, SVP Dawn M. Brockman sold 224 shares of the stock in a transaction on Tuesday, March 26th. The shares were sold at an average price of $434.13, for a total value of $97,245.12. Following the completion of the sale, the senior vice president now owns 1,288 shares in the company, valued at $559,159.44. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Gumer Alvero sold 1,652 shares of the stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $437.00, for a total transaction of $721,924.00. Following the completion of the sale, the insider now owns 6,994 shares of the company's stock, valued at approximately $3,056,378. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 89,161 shares of company stock valued at $35,560,647. Corporate insiders own 0.73% of the company's stock.

Institutional Trading of Ameriprise Financial

A number of large investors have recently added to or reduced their stakes in AMP. OFI Invest Asset Management acquired a new stake in shares of Ameriprise Financial during the 3rd quarter worth about $25,000. Financial Freedom LLC acquired a new stake in shares of Ameriprise Financial during the 4th quarter worth about $27,000. Turtle Creek Wealth Advisors LLC acquired a new stake in shares of Ameriprise Financial during the 4th quarter worth about $34,000. Carmel Capital Partners LLC acquired a new stake in Ameriprise Financial in the 3rd quarter worth about $30,000. Finally, Wetzel Investment Advisors Inc. acquired a new stake in Ameriprise Financial in the 4th quarter worth about $34,000. Institutional investors and hedge funds own 83.95% of the company's stock.

About Ameriprise Financial

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.