Ameriprise Financial, Inc. (NYSE:AMP) Receives $176.50 Consensus Price Target from Brokerages

Ameriprise Financial, Inc. (NYSE:AMP) has received an average recommendation of “Buy” from the eleven analysts that are covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and nine have given a buy rating to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $176.50.

Several brokerages have commented on AMP. Argus began coverage on shares of Ameriprise Financial in a research report on Friday, July 5th. They set a “buy” rating on the stock. Zacks Investment Research upgraded shares of Ameriprise Financial from a “hold” rating to a “buy” rating and set a $164.00 target price on the stock in a research report on Tuesday, April 30th. UBS Group decreased their price objective on shares of Ameriprise Financial from $178.00 to $175.00 and set a “buy” rating on the stock in a research report on Friday, July 12th. Credit Suisse Group upgraded shares of Ameriprise Financial from a “neutral” rating to an “outperform” rating and boosted their price objective for the stock from $145.00 to $202.00 in a research report on Monday, May 13th. Finally, ValuEngine lowered shares of Ameriprise Financial from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st.

In related news, EVP Randy Kupper sold 5,160 shares of the business’s stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $150.38, for a total value of $775,960.80. Following the sale, the executive vice president now directly owns 23,656 shares in the company, valued at approximately $3,557,389.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 1.90% of the stock is owned by insiders.

A number of hedge funds have recently made changes to their positions in AMP. Man Group plc raised its stake in Ameriprise Financial by 82.3% in the 2nd quarter. Man Group plc now owns 2,084,864 shares of the financial services provider’s stock valued at $302,638,000 after purchasing an additional 941,409 shares during the last quarter. Bank of Montreal Can raised its stake in Ameriprise Financial by 77.4% in the 2nd quarter. Bank of Montreal Can now owns 1,348,596 shares of the financial services provider’s stock valued at $195,763,000 after purchasing an additional 588,510 shares during the last quarter. Ceredex Value Advisors LLC acquired a new position in Ameriprise Financial in the 1st quarter valued at about $68,393,000. MUFG Securities EMEA plc acquired a new position in Ameriprise Financial in the 2nd quarter valued at about $39,919,000. Finally, Dimensional Fund Advisors LP raised its stake in Ameriprise Financial by 22.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 984,359 shares of the financial services provider’s stock valued at $102,736,000 after purchasing an additional 181,115 shares during the last quarter. 82.85% of the stock is owned by hedge funds and other institutional investors.

Shares of NYSE AMP traded down $6.16 during trading on Wednesday, hitting $122.56. 1,032,221 shares of the company were exchanged, compared to its average volume of 953,343. The stock has a market cap of $16.85 billion, a P/E ratio of 8.20 and a beta of 1.80. Ameriprise Financial has a 1 year low of $95.69 and a 1 year high of $153.91. The stock has a fifty day moving average price of $144.04. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.78 and a current ratio of 0.78.

Ameriprise Financial (NYSE:AMP) last issued its earnings results on Wednesday, July 24th. The financial services provider reported $4.06 EPS for the quarter, topping the consensus estimate of $4.00 by $0.06. The company had revenue of $3.25 billion for the quarter, compared to analyst estimates of $2.93 billion. Ameriprise Financial had a net margin of 15.03% and a return on equity of 37.73%. The business’s revenue was up 3.2% on a year-over-year basis. During the same period in the previous year, the firm earned $3.60 EPS. As a group, sell-side analysts forecast that Ameriprise Financial will post 16.06 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 16th. Investors of record on Monday, August 5th will be given a $0.97 dividend. The ex-dividend date of this dividend is Friday, August 2nd. This represents a $3.88 annualized dividend and a dividend yield of 3.17%. Ameriprise Financial’s dividend payout ratio is presently 25.97%.

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 five segments: Advice & Wealth Management, Asset Management, Annuities, Protection, and Corporate & Other.

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Analyst Recommendations for Ameriprise Financial (NYSE:AMP)

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