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

Shares of Ameriprise Financial, Inc. (NYSE:AMP) have been given an average recommendation of “Hold” by the ten ratings firms that are covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation and four have assigned a buy recommendation to the company. The average 1 year target price among analysts that have covered the stock in the last year is $487.67.

AMP has been the subject of a number of analyst reports. Morgan Stanley lifted their price objective on shares of Ameriprise Financial from $440.00 to $502.00 and gave the company an “equal weight” rating in a report on Thursday, October 17th. UBS Group lifted their price target on Ameriprise Financial from $490.00 to $555.00 and gave the company a “buy” rating in a research note on Tuesday, October 8th. 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 research note on Friday, October 25th. The Goldman Sachs Group cut Ameriprise Financial from a “buy” rating to a “neutral” rating and cut their target price for the company from $485.00 to $476.00 in a research report on Thursday, September 26th. Finally, Keefe, Bruyette & Woods upped their price target on Ameriprise Financial from $475.00 to $510.00 and gave the stock a “market perform” rating in a report on Tuesday, October 29th.

Ameriprise Financial Price Performance

Shares of NYSE AMP opened at $535.84 on Thursday. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.99. The firm’s 50-day moving average price is $546.91 and its 200-day moving average price is $482.25. The firm has a market capitalization of $51.98 billion, a P/E ratio of 20.57, a P/E/G ratio of 0.96 and a beta of 1.34. Ameriprise Financial has a 1-year low of $368.41 and a 1-year high of $577.00.

Ameriprise Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Monday, November 4th were paid a $1.48 dividend. This represents a $5.92 annualized dividend and a yield of 1.10%. The ex-dividend date of this dividend was Monday, November 4th. Ameriprise Financial’s dividend payout ratio is currently 22.73%.

Insiders Place Their Bets

In related news, CFO Walter Stanley Berman sold 8,655 shares of the business’s stock in a transaction dated Monday, November 11th. The stock was 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 in the company, valued at $3,615,701.44. The trade was a 57.45 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Gumer Alvero sold 2,325 shares of the stock in a transaction that occurred on Thursday, October 31st. The stock was sold at an average price of $516.05, for a total value of $1,199,816.25. Following the completion of the sale, the insider now owns 4,669 shares of the company’s stock, valued at approximately $2,409,437.45. This trade represents a 33.24 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 21,715 shares of company stock valued at $11,983,436 in the last ninety days. Company insiders own 0.73% of the company’s stock.

Hedge Funds Weigh In On Ameriprise Financial

Several hedge funds have recently made changes to their positions in the business. Hantz Financial Services Inc. bought a new position in Ameriprise Financial in the 2nd quarter worth $29,000. Concurrent Investment Advisors LLC boosted its position in Ameriprise Financial by 33.8% during the 2nd quarter. Concurrent Investment Advisors LLC now owns 661 shares of the financial services provider’s stock valued at $282,000 after acquiring an additional 167 shares in the last quarter. Farther Finance Advisors LLC grew its holdings in shares of Ameriprise Financial by 68.8% during the 2nd quarter. Farther Finance Advisors LLC now owns 883 shares of the financial services provider’s stock worth $376,000 after acquiring an additional 360 shares during the period. Aptus Capital Advisors LLC grew its holdings in shares of Ameriprise Financial by 4.5% during the 2nd quarter. Aptus Capital Advisors LLC now owns 830 shares of the financial services provider’s stock worth $355,000 after acquiring an additional 36 shares during the period. Finally, Valmark Advisers Inc. bought a new position in shares of Ameriprise Financial in the 2nd quarter worth approximately $251,000. 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.