Ameriprise Financial, Inc. (NYSE:AMP – Get Free Report) passed above its fifty day moving average during trading on Monday. The stock has a fifty day moving average of $513.81 and traded as high as $522.11. Ameriprise Financial shares last traded at $518.8070, with a volume of 548,827 shares.
Analyst Upgrades and Downgrades
Several equities analysts recently weighed in on AMP shares. BMO Capital Markets decreased their target price on shares of Ameriprise Financial from $560.00 to $520.00 and set a “market perform” rating for the company in a research note on Tuesday, October 6th. The Goldman Sachs Group decreased their price target on Ameriprise Financial from $562.00 to $524.00 and set a “neutral” rating on the stock in a research report on Friday, October 2nd. Jefferies Financial Group lowered their price objective on shares of Ameriprise Financial from $645.00 to $638.00 in a research report on Monday, October 12th. Bank of America cut shares of Ameriprise Financial from a “buy” rating to an “underperform” rating and dropped their target price for the stock from $570.00 to $445.00 in a report on Monday, October 19th. Finally, Raymond James Financial raised their target price on shares of Ameriprise Financial from $582.00 to $638.00 and gave the company a “strong-buy” rating in a research report on Friday, August 21st. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $557.00.
Get Our Latest Research Report on AMP
Ameriprise Financial Stock Up 3.5%
The company has a current ratio of 0.68, a quick ratio of 0.71 and a debt-to-equity ratio of 1.13. The stock has a market cap of $45.04 billion, a price-to-earnings ratio of 11.67, a P/E/G ratio of 1.12 and a beta of 1.13. The stock’s 50-day moving average price is $513.81 and its 200-day moving average price is $493.23.
Ameriprise Financial (NYSE:AMP – Get Free Report) last posted its quarterly earnings data on Thursday, October 29th. The financial services provider reported $11.26 earnings per share for the quarter, missing the consensus estimate of $11.77 by ($0.51). Ameriprise Financial had a return on equity of 69.94% and a net margin of 20.99%. The business had revenue of $5.08 billion during the quarter, compared to the consensus estimate of $5.10 billion. During the same period last year, the business posted $9.92 earnings per share. The business’s revenue was up 6.8% on a year-over-year basis. On average, sell-side analysts expect that Ameriprise Financial, Inc. will post 46.24 earnings per share for the current year.
Ameriprise Financial Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, November 27th. Shareholders of record on Monday, November 9th will be paid a $1.70 dividend. This represents a $6.80 annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend is Monday, November 9th. Ameriprise Financial’s payout ratio is 15.30%.
Ameriprise Financial declared that its Board of Directors has authorized a stock repurchase plan on Tuesday, September 29th that authorizes the company to buy back $5.50 billion in outstanding shares. This buyback authorization authorizes the financial services provider to purchase up to 12.3% of its shares through open market purchases. Stock buyback plans are often a sign that the company’s board believes its stock is undervalued.
Hedge Funds Weigh In On Ameriprise Financial
A number of institutional investors have recently modified their holdings of the company. Avail Investment Partners LLC boosted its holdings in Ameriprise Financial by 2.6% during the 3rd quarter. Avail Investment Partners LLC now owns 800 shares of the financial services provider’s stock valued at $394,000 after acquiring an additional 20 shares during the period. Parallel Advisors LLC increased its stake in Ameriprise Financial by 0.5% during the third quarter. Parallel Advisors LLC now owns 4,254 shares of the financial services provider’s stock worth $2,094,000 after purchasing an additional 20 shares during the period. Novem Group increased its stake in Ameriprise Financial by 0.9% during the third quarter. Novem Group now owns 2,303 shares of the financial services provider’s stock worth $1,134,000 after purchasing an additional 21 shares during the period. North Dakota State Investment Board lifted its position in shares of Ameriprise Financial by 0.9% during the second quarter. North Dakota State Investment Board now owns 2,716 shares of the financial services provider’s stock worth $1,246,000 after purchasing an additional 24 shares in the last quarter. Finally, HBK Sorce Advisory LLC lifted its position in shares of Ameriprise Financial by 2.8% during the second quarter. HBK Sorce Advisory LLC now owns 892 shares of the financial services provider’s stock worth $409,000 after purchasing an additional 24 shares in the last quarter. 83.95% of the stock is owned by institutional investors and hedge funds.
Ameriprise Financial Company Profile
Ameriprise Financial is a financial services company focused on helping individuals and institutions plan for and manage their finances. Its offerings include financial planning and investment advice, brokerage services, asset management, insurance and annuity products.
The company traces its roots to Investors Syndicate, founded in Minneapolis in 1894. It became an independent public company in 2005 after separating from American Express, and remains headquartered in Minneapolis.
Ameriprise serves clients primarily in the United States through its network of financial advisors.
Featured Articles
- Five stocks we like better than Ameriprise Financial
- Wall Street May Be Making a Big Mistake With monday.com Stock
- Are These 2 Mid-Cap Growth Stocks Worth the Risk?
- Oklo Changes the Narrative: Does a Nuclear Stock Price Explosion Come Next?
- Cloudflare’s 20% Sell-Off May Have Created an Opening for Investors
Receive News & Ratings for Ameriprise Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ameriprise Financial and related companies with MarketBeat.com's FREE daily email newsletter.
