Ameriprise Financial, Inc. (NYSE:AMP) has been given a consensus rating of “Hold” by the ten ratings firms that are covering the company, Marketbeat Ratings reports. Six research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $165.25.
Several equities analysts have weighed in on the company. Barclays dropped their target price on Ameriprise Financial from $175.00 to $165.00 and set an “equal weight” rating for the company in a research report on Monday, July 9th. SunTrust Banks dropped their target price on Ameriprise Financial to $150.00 and set a “hold” rating for the company in a research report on Wednesday, April 25th. They noted that the move was a valuation call. Sandler O’Neill set a $158.00 target price on Ameriprise Financial and gave the company a “hold” rating in a research report on Wednesday, July 25th. Credit Suisse Group dropped their target price on Ameriprise Financial from $154.00 to $145.00 and set a “neutral” rating for the company in a research report on Friday, August 17th. Finally, Royal Bank of Canada set a $158.00 target price on Ameriprise Financial and gave the company a “hold” rating in a research report on Tuesday, April 24th.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Summit Trail Advisors LLC grew its position in shares of Ameriprise Financial by 12,071.7% during the first quarter. Summit Trail Advisors LLC now owns 105,407 shares of the financial services provider’s stock worth $105,000 after buying an additional 104,541 shares in the last quarter. IMA Wealth Inc. acquired a new position in shares of Ameriprise Financial during the second quarter worth about $110,000. Migdal Insurance & Financial Holdings Ltd. grew its position in shares of Ameriprise Financial by 8,300.0% during the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 840 shares of the financial services provider’s stock worth $118,000 after buying an additional 830 shares in the last quarter. LeJeune Puetz Investment Counsel LLC acquired a new position in shares of Ameriprise Financial during the second quarter worth about $119,000. Finally, Jacobi Capital Management LLC grew its position in shares of Ameriprise Financial by 89.8% during the first quarter. Jacobi Capital Management LLC now owns 875 shares of the financial services provider’s stock worth $125,000 after buying an additional 414 shares in the last quarter. 84.22% of the stock is owned by institutional investors.
Shares of AMP opened at $141.88 on Wednesday. The stock has a market capitalization of $19.79 billion, a P/E ratio of 11.56 and a beta of 1.81. Ameriprise Financial has a 12-month low of $129.87 and a 12-month high of $183.90. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.69 and a current ratio of 0.69.
Ameriprise Financial (NYSE:AMP) last released its earnings results on Tuesday, July 24th. The financial services provider reported $3.60 earnings per share for the quarter, beating the consensus estimate of $3.51 by $0.09. The company had revenue of $3.15 billion during the quarter, compared to the consensus estimate of $3.12 billion. Ameriprise Financial had a return on equity of 36.15% and a net margin of 13.91%. Ameriprise Financial’s revenue was up 5.7% compared to the same quarter last year. During the same period in the previous year, the company posted $2.80 EPS. analysts expect that Ameriprise Financial will post 14.68 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, August 17th. Shareholders of record on Monday, August 6th were given a $0.90 dividend. This represents a $3.60 annualized dividend and a yield of 2.54%. The ex-dividend date of this dividend was Friday, August 3rd. Ameriprise Financial’s dividend payout ratio is currently 29.34%.
Ameriprise Financial Company Profile
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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