Ameriprise Financial (NYSE:AMP) Earns Market Perform Rating from Analysts at BMO Capital Markets

BMO Capital Markets assumed coverage on shares of Ameriprise Financial (NYSE:AMP) in a report published on Friday morning, Marketbeat Ratings reports. The firm issued a market perform rating and a $525.00 target price on the financial services provider’s stock.

Other equities analysts have also issued reports about the company. Raymond James Financial increased their price objective on Ameriprise Financial from $518.00 to $582.00 and gave the company a “strong-buy” rating in a research report on Friday, July 25th. William Blair downgraded shares of Ameriprise Financial from an “outperform” rating to a “market perform” rating in a research note on Friday, July 25th. Piper Sandler lifted their target price on shares of Ameriprise Financial from $423.00 to $434.00 and gave the stock an “underweight” rating in a research report on Thursday, July 3rd. Morgan Stanley cut their price target on shares of Ameriprise Financial from $530.00 to $484.00 and set an “underweight” rating for the company in a research report on Wednesday, October 1st. Finally, Royal Bank Of Canada lifted their price objective on Ameriprise Financial from $595.00 to $601.00 and gave the stock an “outperform” rating in a report on Wednesday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, Ameriprise Financial has a consensus rating of “Hold” and an average price target of $535.14.

Ameriprise Financial Trading Up 0.2%

Shares of AMP opened at $491.67 on Friday. Ameriprise Financial has a 1-year low of $396.14 and a 1-year high of $582.05. The company has a market capitalization of $46.35 billion, a P/E ratio of 15.30, a P/E/G ratio of 1.11 and a beta of 1.26. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.62 and a quick ratio of 0.62. The firm’s 50 day simple moving average is $502.93 and its 200 day simple moving average is $502.19.

Ameriprise Financial (NYSE:AMP) last issued its quarterly earnings results on Thursday, July 24th. The financial services provider reported $9.11 EPS for the quarter, topping analysts’ consensus estimates of $9.00 by $0.11. Ameriprise Financial had a net margin of 18.30% and a return on equity of 65.90%. The firm had revenue of $4.49 billion for the quarter, compared to analyst estimates of $4.33 billion. During the same quarter in the prior year, the firm earned $8.72 EPS. The business’s revenue for the quarter was up 2.2% compared to the same quarter last year. Sell-side analysts forecast that Ameriprise Financial will post 38.64 earnings per share for the current fiscal year.

Ameriprise Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 18th. Shareholders of record on Monday, August 4th were issued a $1.60 dividend. The ex-dividend date was Monday, August 4th. This represents a $6.40 annualized dividend and a yield of 1.3%. Ameriprise Financial’s dividend payout ratio is 19.91%.

Insider Transactions at Ameriprise Financial

In other news, EVP Heather J. Melloh sold 1,500 shares of the stock in a transaction that occurred on Thursday, September 4th. The stock was sold at an average price of $512.34, for a total value of $768,510.00. Following the completion of the transaction, the executive vice president owned 2,562 shares of the company’s stock, valued at approximately $1,312,615.08. This represents a 36.93% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO William F. Truscott sold 9,929 shares of the company’s stock in a transaction on Tuesday, August 19th. The stock was sold at an average price of $506.89, for a total value of $5,032,910.81. Following the completion of the sale, the chief executive officer directly owned 11,047 shares in the company, valued at approximately $5,599,613.83. The trade was a 47.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.57% of the company’s stock.

Institutional Trading of Ameriprise Financial

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Norges Bank bought a new stake in Ameriprise Financial during the second quarter worth about $693,736,000. JPMorgan Chase & Co. lifted its holdings in shares of Ameriprise Financial by 21.3% during the first quarter. JPMorgan Chase & Co. now owns 5,824,915 shares of the financial services provider’s stock valued at $2,819,900,000 after purchasing an additional 1,023,002 shares during the last quarter. Nuveen LLC purchased a new position in shares of Ameriprise Financial during the first quarter valued at approximately $469,334,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of Ameriprise Financial by 55.0% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,244,788 shares of the financial services provider’s stock worth $1,086,724,000 after purchasing an additional 796,925 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its stake in shares of Ameriprise Financial by 28.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,195,703 shares of the financial services provider’s stock worth $578,852,000 after buying an additional 266,631 shares during the last quarter. 83.95% of the stock is owned by hedge funds and other institutional investors.

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.