Ameriprise Financial, Inc. (NYSE:AMP – Get Free Report) has been given an average recommendation of “Moderate Buy” by the eleven brokerages that are presently covering the firm, MarketBeat reports. One analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation, four have issued a buy recommendation and two have given a strong buy recommendation to the company. The average 1 year target price among brokers that have covered the stock in the last year is $555.3333.
Several brokerages have recently weighed in on AMP. Zacks Research upgraded Ameriprise Financial from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 27th. Piper Sandler raised their target price on Ameriprise Financial from $471.00 to $518.00 and gave the stock a “neutral” rating in a research note on Monday, July 13th. Jefferies Financial Group lifted their target price on Ameriprise Financial from $636.00 to $645.00 and gave the company a “buy” rating in a report on Friday, July 10th. Weiss Ratings upgraded Ameriprise Financial from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday, September 3rd. Finally, Keefe, Bruyette & Woods increased their price target on shares of Ameriprise Financial from $515.00 to $545.00 and gave the stock a “market perform” rating in a report on Friday, July 24th.
Check Out Our Latest Stock Analysis on Ameriprise Financial
Ameriprise Financial Price Performance
Ameriprise Financial (NYSE:AMP – Get Free Report) last released its quarterly earnings data on Thursday, July 23rd. The financial services provider reported $11.07 EPS for the quarter, topping the consensus estimate of $10.81 by $0.26. Ameriprise Financial had a net margin of 20.24% and a return on equity of 64.19%. The company had revenue of $4.90 billion during the quarter, compared to the consensus estimate of $4.87 billion. During the same period last year, the firm earned $9.11 EPS. Ameriprise Financial’s revenue for the quarter was up 11.6% on a year-over-year basis. Equities analysts expect that Ameriprise Financial will post 46.27 EPS for the current year.
Ameriprise Financial Dividend Announcement
The company 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. The ex-dividend date was Monday, August 3rd. This represents a $6.80 annualized dividend and a yield of 1.3%. Ameriprise Financial’s dividend payout ratio is currently 16.40%.
Insider Activity
In other news, EVP Deirdre Mcgraw sold 2,400 shares of the business’s stock in a transaction on Thursday, August 6th. The shares were sold at an average price of $558.28, for a total transaction of $1,339,872.00. Following the completion of the transaction, the executive vice president directly owned 3,373 shares in the company, valued at $1,883,078.44. The trade was a 41.57% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider William Williams sold 8,210 shares of the firm’s stock in a transaction dated Tuesday, July 28th. The shares were 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. The trade was a 54.77% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 29,988 shares of company stock valued at $16,316,497 in the last quarter. 0.60% of the stock is currently owned by company insiders.
Institutional Investors Weigh In On Ameriprise Financial
Hedge funds have recently bought and sold shares of the stock. Essex Financial Services Inc. increased its holdings in shares of Ameriprise Financial by 2.4% in the fourth quarter. Essex Financial Services Inc. now owns 904 shares of the financial services provider’s stock worth $443,000 after buying an additional 21 shares during the period. SouthState Bank Corp boosted its holdings in Ameriprise Financial by 78.6% during the 4th quarter. SouthState Bank Corp now owns 50 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 22 shares during the period. SlateStone Wealth LLC boosted its holdings in Ameriprise Financial by 3.8% during the 4th quarter. SlateStone Wealth LLC now owns 657 shares of the financial services provider’s stock valued at $322,000 after acquiring an additional 24 shares during the period. Rexford Capital Inc. grew its position in Ameriprise Financial by 19.5% during the 1st quarter. Rexford Capital Inc. now owns 147 shares of the financial services provider’s stock worth $65,000 after acquiring an additional 24 shares during the last quarter. Finally, North Dakota State Investment Board grew its position in Ameriprise Financial by 0.9% during the 2nd quarter. North Dakota State Investment Board now owns 2,716 shares of the financial services provider’s stock worth $1,246,000 after acquiring an additional 24 shares during the last quarter. 83.95% of the stock is currently owned by institutional investors.
Ameriprise Financial Company Profile
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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