Ameriprise Financial, Inc., through 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. The Advice & Wealth Management segment provides financial planning and advice; brokerage products and services for retail and institutional clients; discretionary and non-discretionary investment advisory accounts; mutual funds; insurance and annuities products; cash management and banking products; and face-amount certificates. The Asset Management segment offers investment management and advice, and investment products to retail, high net worth, and institutional clients through unaffiliated third-party financial institutions and institutional sales force. This segment products also include U.S. mutual funds and their non-U.S. equivalents, exchange-traded funds, variable product funds underlying insurance, and annuity separate accounts; and institutional asset management products, such as traditional asset classes, separately managed accounts, individually managed accounts, collateralized loan obligations, hedge funds, collective funds, and property and infrastructure funds. The Retirement & Protection Solutions segment provides variable annuity products to individual clients, as well as life and DI insurance products to retail clients. The company was formerly known as American Express Financial Corporation and changed its name to Ameriprise Financial, Inc. in September 2005. Ameriprise Financial, Inc. was founded in 1894 and is headquartered in Minneapolis, Minnesota.
Analyst Upgrades and Downgrades
AMP has been the subject of a number of recent research reports. UBS Group reduced their price objective on shares of Ameriprise Financial from $360.00 to $350.00 and set a "buy" rating for the company in a research note on Tuesday, April 26th. Piper Sandler reduced their price target on Ameriprise Financial from $231.00 to $220.00 and set an "underweight" rating on the stock in a research report on Friday, July 15th. Evercore ISI reduced their price target on Ameriprise Financial from $364.00 to $320.00 and set an "outperform" rating on the stock in a research report on Wednesday, July 6th. Morgan Stanley upped their price target on Ameriprise Financial from $255.00 to $270.00 and gave the stock an "equal weight" rating in a research report on Wednesday, July 27th. Finally, William Blair reaffirmed an "outperform" rating on shares of Ameriprise Financial in a research report on Tuesday, April 26th. One analyst has rated the stock with a sell rating, three have issued a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $311.78.
Ameriprise Financial Stock Performance
Shares of AMP traded down $0.17 during trading hours on Friday, reaching $269.06. 604,216 shares of the company traded hands, compared to its average volume of 643,376. Ameriprise Financial has a 12-month low of $219.99 and a 12-month high of $332.37. The company has a quick ratio of 0.94, a current ratio of 0.90 and a debt-to-equity ratio of 1.14. The stock has a market capitalization of $29.10 billion, a P/E ratio of 9.69 and a beta of 1.50. The business has a fifty day moving average price of $249.43 and a 200-day moving average price of $274.69.
Ameriprise Financial (NYSE:AMP - Get Rating) last posted its quarterly earnings results on Tuesday, July 26th. The financial services provider reported $5.81 EPS for the quarter, missing the consensus estimate of $5.82 by ($0.01). Ameriprise Financial had a net margin of 23.49% and a return on equity of 53.86%. During the same quarter in the previous year, the business earned $5.27 earnings per share. Equities analysts anticipate that Ameriprise Financial will post 24.26 EPS for the current fiscal year.
Ameriprise Financial Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Friday, August 19th. Shareholders of record on Monday, August 8th will be issued a $1.25 dividend. This represents a $5.00 annualized dividend and a yield of 1.86%. The ex-dividend date is Friday, August 5th. Ameriprise Financial's payout ratio is 18.01%.