Ameriprise Financial (NYSE:AMP) had its price target upped by Morgan Stanley from $173.00 to $175.00 in a report issued on Thursday, BenzingaRatingsTable reports. Morgan Stanley currently has an overweight rating on the financial services provider’s stock.
A number of other research firms have also recently commented on AMP. Zacks Investment Research cut German American Bancorp. from a buy rating to a hold rating in a research report on Tuesday, April 30th. Royal Bank of Canada set a $147.00 price target on Ameriprise Financial and gave the company a hold rating in a research report on Friday, April 26th. Barclays boosted their price target on T. Rowe Price Group from $90.00 to $95.00 and gave the company an underweight rating in a research report on Thursday, April 25th. ValuEngine cut Wave Life Sciences from a buy rating to a hold rating in a research report on Tuesday, April 16th. Finally, Citigroup cut Barrick Gold to a neutral rating in a research report on Thursday, May 23rd. Two research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The stock presently has a consensus rating of Buy and an average price target of $173.78.
Shares of AMP traded up $2.99 during midday trading on Thursday, reaching $149.96. 23,508 shares of the stock were exchanged, compared to its average volume of 746,770. The firm has a 50-day simple moving average of $148.98. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.81 and a quick ratio of 0.81. Ameriprise Financial has a twelve month low of $95.69 and a twelve month high of $153.91. The stock has a market cap of $20.28 billion, a P/E ratio of 10.03 and a beta of 1.80.
Ameriprise Financial (NYSE:AMP) last posted its earnings results on Wednesday, July 24th. The financial services provider reported $4.06 EPS for the quarter, topping the Zacks’ consensus estimate of $4.00 by $0.06. Ameriprise Financial had a return on equity of 38.31% and a net margin of 15.03%. The business had revenue of $3.25 billion for the quarter, compared to analysts’ expectations of $2.93 billion. During the same quarter in the previous year, the firm earned $3.60 earnings per share. The business’s revenue was up 3.2% compared to the same quarter last year. As a group, equities research analysts expect that Ameriprise Financial will post 15.9 earnings per share for the current year.
The business also recently declared 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. This represents a $3.88 annualized dividend and a yield of 2.59%. The ex-dividend date of this dividend is Friday, August 2nd. Ameriprise Financial’s dividend payout ratio (DPR) is presently 25.97%.
In related news, EVP Randy Kupper sold 5,160 shares of the business’s stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $150.38, for a total value of $775,960.80. Following the transaction, the executive vice president now owns 23,656 shares in the company, valued at approximately $3,557,389.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.90% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the business. State of Tennessee Treasury Department boosted its stake in shares of Ameriprise Financial by 35.6% during the 1st quarter. State of Tennessee Treasury Department now owns 48,976 shares of the financial services provider’s stock worth $6,274,000 after acquiring an additional 12,862 shares in the last quarter. Palisade Asset Management LLC raised its position in shares of Ameriprise Financial by 8.3% during the 1st quarter. Palisade Asset Management LLC now owns 4,160 shares of the financial services provider’s stock worth $533,000 after purchasing an additional 320 shares during the last quarter. Financial Counselors Inc. raised its position in shares of Ameriprise Financial by 6.5% during the 1st quarter. Financial Counselors Inc. now owns 104,018 shares of the financial services provider’s stock worth $13,325,000 after purchasing an additional 6,323 shares during the last quarter. Dubuque Bank & Trust Co. raised its position in shares of Ameriprise Financial by 19.5% during the 1st quarter. Dubuque Bank & Trust Co. now owns 1,282 shares of the financial services provider’s stock worth $164,000 after purchasing an additional 209 shares during the last quarter. Finally, Plimoth Trust Co. LLC raised its position in shares of Ameriprise Financial by 2.8% during the 1st quarter. Plimoth Trust Co. LLC now owns 4,450 shares of the financial services provider’s stock worth $570,000 after purchasing an additional 120 shares during the last quarter. 80.87% of the stock is currently owned by institutional investors.
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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