Brokerages Set Ameriprise Financial, Inc. (NYSE:AMP) PT at $487.67

Shares of Ameriprise Financial, Inc. (NYSE:AMP) have received a consensus rating of “Hold” from the ten research firms that are presently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation and four have issued a buy recommendation on the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $487.67.

Several analysts recently issued reports on the company. The Goldman Sachs Group lowered Ameriprise Financial from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $485.00 to $476.00 in a report on Thursday, September 26th. UBS Group upped their target price on Ameriprise Financial from $490.00 to $555.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. Morgan Stanley lifted their price target on Ameriprise Financial from $440.00 to $502.00 and gave the company an “equal weight” rating in a report on Thursday, October 17th. Royal Bank of Canada increased their price objective on Ameriprise Financial from $535.00 to $550.00 and gave the stock an “outperform” rating in a report on Friday, October 25th. Finally, Keefe, Bruyette & Woods raised their price objective on shares of Ameriprise Financial from $475.00 to $510.00 and gave the company a “market perform” rating in a research report on Tuesday, October 29th.

Insider Activity at Ameriprise Financial

In other news, insider Joseph Edward Sweeney sold 10,735 shares of the firm’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $549.68, for a total value of $5,900,814.80. Following the sale, the insider now owns 5,811 shares in the company, valued at approximately $3,194,190.48. This trade represents a 64.88 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Walter Stanley Berman sold 8,655 shares of the company’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $564.16, for a total transaction of $4,882,804.80. Following the transaction, the chief financial officer now owns 6,409 shares of the company’s stock, valued at approximately $3,615,701.44. The trade was a 57.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 30,415 shares of company stock worth $15,829,445. 0.73% of the stock is owned by insiders.

Institutional Trading of Ameriprise Financial

Several hedge funds and other institutional investors have recently bought and sold shares of AMP. Empowered Funds LLC raised its holdings in Ameriprise Financial by 13.7% in the 1st quarter. Empowered Funds LLC now owns 3,621 shares of the financial services provider’s stock valued at $1,588,000 after acquiring an additional 436 shares in the last quarter. Susquehanna Fundamental Investments LLC bought a new position in Ameriprise Financial in the first quarter worth $570,000. Atomi Financial Group Inc. acquired a new stake in Ameriprise Financial during the first quarter worth $207,000. Concurrent Investment Advisors LLC acquired a new stake in Ameriprise Financial during the first quarter worth $217,000. Finally, Bleakley Financial Group LLC increased its holdings in Ameriprise Financial by 2.9% in the 1st quarter. Bleakley Financial Group LLC now owns 2,758 shares of the financial services provider’s stock valued at $1,209,000 after buying an additional 77 shares during the period. 83.95% of the stock is currently owned by institutional investors and hedge funds.

Ameriprise Financial Stock Up 0.2 %

AMP stock opened at $562.44 on Wednesday. The company has a 50 day moving average of $493.91 and a two-hundred day moving average of $451.64. The company has a market cap of $54.57 billion, a price-to-earnings ratio of 21.74, a PEG ratio of 0.97 and a beta of 1.34. Ameriprise Financial has a 12-month low of $342.96 and a 12-month high of $569.47. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.99.

Ameriprise Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Monday, November 4th were paid a $1.48 dividend. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.05%. The ex-dividend date was Monday, November 4th. Ameriprise Financial’s payout ratio is 22.73%.

About Ameriprise Financial

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.