Ameriprise Financial (NYSE:AMP) Reaches New 52-Week High at $442.09

Ameriprise Financial, Inc. (NYSE:AMP - Get Free Report) hit a new 52-week high during trading on Thursday . The company traded as high as $442.09 and last traded at $440.07, with a volume of 50755 shares. The stock had previously closed at $439.39.

Analyst Ratings Changes

AMP has been the subject of a number of recent analyst reports. Argus boosted their target price on shares of Ameriprise Financial from $440.00 to $460.00 and gave the company a "buy" rating in a report on Monday, May 6th. UBS Group lifted their price target on shares of Ameriprise Financial from $440.00 to $445.00 and gave the company a "buy" rating in a research report on Thursday, January 25th. Royal Bank of Canada lifted their price target on shares of Ameriprise Financial from $470.00 to $480.00 and gave the company an "outperform" rating in a research report on Wednesday, April 24th. Piper Sandler boosted their target price on shares of Ameriprise Financial from $360.00 to $392.00 and gave the stock an "underweight" rating in a research report on Friday, April 5th. Finally, Morgan Stanley boosted their target price on shares of Ameriprise Financial from $400.00 to $437.00 and gave the stock an "equal weight" rating in a research report on Tuesday, April 9th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $450.88.

Ameriprise Financial Stock Down 0.8 %

The stock has a market capitalization of $43.30 billion, a price-to-earnings ratio of 14.84, a PEG ratio of 0.73 and a beta of 1.35. The firm's fifty day moving average is $423.40 and its 200-day moving average is $390.70. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.56 and a quick ratio of 0.56.

Ameriprise Financial (NYSE:AMP - Get Free Report) last announced its quarterly earnings data on Wednesday, April 24th. The financial services provider reported $8.39 earnings per share for the quarter, beating analysts' consensus estimates of $8.10 by $0.29. Ameriprise Financial had a net margin of 19.42% and a return on equity of 75.97%. The business had revenue of $4.15 billion during the quarter, compared to the consensus estimate of $4.15 billion. During the same quarter in the prior year, the firm earned $7.25 EPS. The company's revenue for the quarter was up 10.8% compared to the same quarter last year. On average, sell-side analysts predict that Ameriprise Financial, Inc. will post 34.93 earnings per share for the current year.

Ameriprise Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 17th. Investors of record on Monday, May 6th will be given a dividend of $1.48 per share. The ex-dividend date of this dividend is Friday, May 3rd. This represents a $5.92 dividend on an annualized basis and a yield of 1.36%. This is a positive change from Ameriprise Financial's previous quarterly dividend of $1.35. Ameriprise Financial's payout ratio is currently 20.15%.

Insiders Place Their Bets

In other news, CEO James M. Cracchiolo sold 11,288 shares of the company's stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $399.64, for a total transaction of $4,511,136.32. Following the completion of the transaction, the chief executive officer now owns 185,310 shares in the company, valued at $74,057,288.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO James M. Cracchiolo sold 4,298 shares of the stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $397.22, for a total value of $1,707,251.56. Following the completion of the transaction, the chief executive officer now owns 181,012 shares in the company, valued at approximately $71,901,586.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO James M. Cracchiolo sold 11,288 shares of the business's stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $399.64, for a total transaction of $4,511,136.32. Following the sale, the chief executive officer now owns 185,310 shares in the company, valued at $74,057,288.40. The disclosure for this sale can be found here. Insiders have sold 47,287 shares of company stock valued at $19,160,409 over the last three months. Company insiders own 0.73% of the company's stock.

Institutional Investors Weigh In On Ameriprise Financial

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Assetmark Inc. lifted its position in Ameriprise Financial by 5.7% in the third quarter. Assetmark Inc. now owns 1,728 shares of the financial services provider's stock worth $570,000 after purchasing an additional 93 shares during the period. Fifth Third Bancorp increased its holdings in shares of Ameriprise Financial by 1.0% in the third quarter. Fifth Third Bancorp now owns 6,219 shares of the financial services provider's stock valued at $2,050,000 after buying an additional 61 shares in the last quarter. New Mexico Educational Retirement Board raised its stake in Ameriprise Financial by 5.9% during the 3rd quarter. New Mexico Educational Retirement Board now owns 5,381 shares of the financial services provider's stock valued at $1,774,000 after purchasing an additional 300 shares during the period. AIA Group Ltd raised its stake in Ameriprise Financial by 885.2% during the 3rd quarter. AIA Group Ltd now owns 2,926 shares of the financial services provider's stock valued at $965,000 after purchasing an additional 2,629 shares during the period. Finally, Knights of Columbus Asset Advisors LLC raised its stake in Ameriprise Financial by 0.3% during the 3rd quarter. Knights of Columbus Asset Advisors LLC now owns 17,942 shares of the financial services provider's stock valued at $5,915,000 after purchasing an additional 46 shares during the period. Institutional investors own 83.95% of the company's stock.

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.