Royal Bank of Canada set a $158.00 target price on Ameriprise Financial (NYSE:AMP) in a report published on Tuesday. The brokerage currently has a hold rating on the financial services provider’s stock.
AMP has been the subject of a number of other research reports. Sandler O’Neill set a $165.00 price target on Ameriprise Financial and gave the company a hold rating in a research report on Monday, February 12th. SunTrust Banks upped their target price on Ameriprise Financial to $180.00 and gave the stock a hold rating in a research report on Friday, January 19th. Zacks Investment Research raised Ameriprise Financial from a hold rating to a buy rating and set a $176.00 target price for the company in a research report on Thursday, March 22nd. Morgan Stanley decreased their target price on Ameriprise Financial from $190.00 to $184.00 and set an overweight rating for the company in a research report on Thursday, April 5th. Finally, ValuEngine downgraded Ameriprise Financial from a buy rating to a hold rating in a research report on Monday, April 2nd. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the stock. The company presently has an average rating of Hold and a consensus target price of $170.56.
AMP stock opened at $141.35 on Tuesday. Ameriprise Financial has a 12-month low of $118.84 and a 12-month high of $183.90. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.85. The stock has a market cap of $21,289.87, a price-to-earnings ratio of 11.63 and a beta of 1.84.
Ameriprise Financial (NYSE:AMP) last posted its quarterly earnings results on Monday, April 23rd. The financial services provider reported $3.70 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $3.46 by $0.24. Ameriprise Financial had a return on equity of 33.21% and a net margin of 13.59%. The firm had revenue of $3.10 billion during the quarter, compared to the consensus estimate of $3.09 billion. During the same quarter in the previous year, the business earned $2.52 earnings per share. The firm’s quarterly revenue was up 8.7% compared to the same quarter last year. research analysts anticipate that Ameriprise Financial will post 14.38 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, May 18th. Stockholders of record on Monday, May 7th will be given a $0.90 dividend. This is an increase from Ameriprise Financial’s previous quarterly dividend of $0.83. The ex-dividend date of this dividend is Friday, May 4th. This represents a $3.60 annualized dividend and a dividend yield of 2.55%. Ameriprise Financial’s dividend payout ratio is presently 27.06%.
In related news, CEO William F. Truscott sold 31,379 shares of the business’s stock in a transaction dated Friday, January 26th. The stock was sold at an average price of $173.64, for a total value of $5,448,649.56. Following the transaction, the chief executive officer now owns 67,058 shares in the company, valued at $11,643,951.12. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Randy Kupper sold 4,381 shares of the business’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $159.61, for a total value of $699,251.41. Following the completion of the transaction, the executive vice president now owns 21,607 shares in the company, valued at approximately $3,448,693.27. The disclosure for this sale can be found here. Insiders sold 41,260 shares of company stock valued at $7,105,121 in the last ninety days. Company insiders own 1.50% of the company’s stock.
Several large investors have recently added to or reduced their stakes in the stock. Cambridge Investment Research Advisors Inc. lifted its stake in shares of Ameriprise Financial by 24.9% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 3,452 shares of the financial services provider’s stock worth $585,000 after acquiring an additional 688 shares in the last quarter. Rehmann Capital Advisory Group acquired a new stake in Ameriprise Financial during the fourth quarter valued at approximately $236,000. Xact Kapitalforvaltning AB raised its stake in Ameriprise Financial by 8.9% during the fourth quarter. Xact Kapitalforvaltning AB now owns 19,616 shares of the financial services provider’s stock valued at $3,324,000 after buying an additional 1,600 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its stake in Ameriprise Financial by 14.3% during the fourth quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 88,681 shares of the financial services provider’s stock valued at $15,029,000 after buying an additional 11,064 shares in the last quarter. Finally, OLD Mutual Customised Solutions Proprietary Ltd. raised its stake in Ameriprise Financial by 42.9% during the fourth quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 10,000 shares of the financial services provider’s stock valued at $1,695,000 after buying an additional 3,000 shares in the last quarter. Institutional investors and hedge funds own 86.74% of the company’s stock.
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About Ameriprise Financial
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 Advice & Wealth Management, Asset Management, Annuities, and Protection segments. The Advice & Wealth Management segment provides financial planning and advice, as well as full-service brokerage services primarily to retail clients through its advisors.
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