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

Shares of Ameriprise Financial, Inc. (NYSE:AMP) have been given an average rating of “Hold” by the ten research firms that are currently covering the company, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, six have issued a hold recommendation and three have given a buy recommendation to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $489.33.

AMP has been the subject of several research analyst reports. Royal Bank of Canada upped their price target on shares of Ameriprise Financial from $535.00 to $550.00 and gave the company an “outperform” rating in a research report on Friday, October 25th. Morgan Stanley increased their target price on 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 downgraded Ameriprise Financial from a “buy” rating to a “neutral” rating and lowered their price target for the company from $580.00 to $570.00 in a report on Monday. The Goldman Sachs Group downgraded Ameriprise Financial from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $485.00 to $476.00 in a research note on Thursday, September 26th. Finally, Keefe, Bruyette & Woods lifted their target price on Ameriprise Financial from $475.00 to $510.00 and gave the company a “market perform” rating in a research note on Tuesday, October 29th.

Ameriprise Financial Price Performance

AMP stock opened at $530.35 on Thursday. Ameriprise Financial has a one year low of $368.41 and a one year high of $577.00. The firm has a 50-day moving average of $547.26 and a two-hundred day moving average of $483.50. The firm has a market capitalization of $51.45 billion, a PE ratio of 20.36, a P/E/G ratio of 0.96 and a beta of 1.36. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.99.

Ameriprise Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Monday, November 4th were issued a dividend of $1.48 per share. The ex-dividend date was Monday, November 4th. This represents a $5.92 annualized dividend and a dividend yield of 1.12%. Ameriprise Financial’s dividend payout ratio is 22.73%.

Insider Buying and Selling

In related news, CFO Walter Stanley Berman sold 8,655 shares of the company’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $564.16, for a total value of $4,882,804.80. Following the completion of the sale, the chief financial officer now directly owns 6,409 shares in the company, valued at approximately $3,615,701.44. This represents a 57.45 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Joseph Edward Sweeney sold 10,735 shares of the stock in a transaction on Friday, November 8th. The stock was sold at an average price of $549.68, for a total transaction of $5,900,814.80. Following the transaction, the insider now directly owns 5,811 shares in the company, valued at $3,194,190.48. The trade was a 64.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 21,715 shares of company stock worth $11,983,436. Insiders own 0.73% of the company’s stock.

Institutional Trading of Ameriprise Financial

Large investors have recently made changes to their positions in the stock. Mascoma Wealth Management LLC boosted its position in Ameriprise Financial by 153.8% during the second quarter. Mascoma Wealth Management LLC now owns 66 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 40 shares during the period. Hantz Financial Services Inc. acquired a new stake in shares of Ameriprise Financial in the second quarter worth $29,000. Oakworth Capital Inc. bought a new stake in shares of Ameriprise Financial during the 3rd quarter worth $31,000. Country Trust Bank grew its stake in Ameriprise Financial by 213.6% in the 3rd quarter. Country Trust Bank now owns 69 shares of the financial services provider’s stock valued at $32,000 after buying an additional 47 shares during the last quarter. Finally, Peterson Financial Group Inc. bought a new position in Ameriprise Financial in the 3rd quarter worth $45,000. Institutional investors own 83.95% of the company’s stock.

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.