Royal Bank of Canada reissued their outperform rating on shares of Ameriprise Financial (NYSE:AMP – Free Report) in a research report sent to investors on Monday morning,Benzinga reports. They currently have a $625.00 price target on the financial services provider’s stock.
Several other brokerages have also issued reports on AMP. Keefe, Bruyette & Woods decreased their price target on shares of Ameriprise Financial from $565.00 to $560.00 and set a “market perform” rating on the stock in a report on Friday, January 10th. Morgan Stanley lifted their price target 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. Finally, UBS Group lowered shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $580.00 to $570.00 in a report on Monday, January 6th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $503.22.
View Our Latest Stock Report on Ameriprise Financial
Ameriprise Financial Price Performance
Ameriprise Financial (NYSE:AMP – Get Free Report) last announced its quarterly earnings results on Wednesday, January 29th. The financial services provider reported $9.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $9.16 by $0.20. Ameriprise Financial had a net margin of 15.99% and a return on equity of 68.52%. On average, equities research analysts predict that Ameriprise Financial will post 33.96 EPS for the current fiscal year.
Ameriprise Financial Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Monday, February 10th will be given a $1.48 dividend. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.03%. Ameriprise Financial’s dividend payout ratio (DPR) is currently 22.73%.
Insider Transactions at Ameriprise Financial
In other news, insider Joseph Edward Sweeney sold 10,735 shares of the business’s stock in a transaction that occurred 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 transaction, the insider now owns 5,811 shares in the company, valued at approximately $3,194,190.48. The trade was a 64.88 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Walter Stanley Berman sold 8,655 shares of the business’s stock in a transaction that occurred on 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 completion of the transaction, the chief financial officer now owns 6,409 shares in the company, valued at $3,615,701.44. This trade represents a 57.45 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.73% of the company’s stock.
Institutional Inflows and Outflows
A number of institutional investors have recently modified their holdings of AMP. Geller Advisors LLC grew its position in Ameriprise Financial by 2.2% during the third quarter. Geller Advisors LLC now owns 878 shares of the financial services provider’s stock valued at $412,000 after buying an additional 19 shares during the period. Cerro Pacific Wealth Advisors LLC grew its position in Ameriprise Financial by 3.4% during the fourth quarter. Cerro Pacific Wealth Advisors LLC now owns 576 shares of the financial services provider’s stock valued at $307,000 after buying an additional 19 shares during the period. Legacy Capital Wealth Partners LLC grew its position in Ameriprise Financial by 2.0% during the third quarter. Legacy Capital Wealth Partners LLC now owns 1,022 shares of the financial services provider’s stock valued at $480,000 after buying an additional 20 shares during the period. Dakota Wealth Management grew its position in Ameriprise Financial by 2.7% during the fourth quarter. Dakota Wealth Management now owns 798 shares of the financial services provider’s stock valued at $425,000 after buying an additional 21 shares during the period. Finally, Abel Hall LLC grew its position in Ameriprise Financial by 4.2% during the fourth quarter. Abel Hall LLC now owns 517 shares of the financial services provider’s stock valued at $275,000 after buying an additional 21 shares during the period. Institutional investors and hedge funds own 83.95% of the company’s stock.
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.
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