Ameriprise Financial, Inc. (NYSE:AMP) shares shot up 0.4% on Friday . The company traded as high as $152.32 and last traded at $152.13. 6,498 shares traded hands during mid-day trading, a decline of 99% from the average session volume of 787,837 shares. The stock had previously closed at $151.54.
AMP has been the subject of a number of recent analyst reports. Citigroup raised their price target on shares of Ameriprise Financial from $153.00 to $170.00 and gave the stock a “buy” rating in a report on Thursday, April 25th. UBS Group boosted their price target on shares of Ameriprise Financial from $175.00 to $180.00 and gave the stock a “buy” rating in a research note on Thursday, April 25th. Zacks Investment Research cut shares of Ameriprise Financial from a “hold” rating to a “sell” rating in a research report on Monday, April 8th. Ameriprise Financial raised shares of Ameriprise Financial from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $145.00 to $202.00 in a research report on Monday, May 13th. Finally, Barclays boosted their price target on shares of Ameriprise Financial from $146.00 to $171.00 and gave the company an “overweight” rating in a research report on Thursday, April 25th. Two investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Ameriprise Financial has a consensus rating of “Buy” and an average target price of $171.56.
The company has a market capitalization of $20.14 billion, a price-to-earnings ratio of 10.25 and a beta of 1.87. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.81 and a current ratio of 0.81.
The firm also recently declared a quarterly dividend, which was paid on Friday, May 17th. Stockholders of record on Monday, May 6th were given a $0.97 dividend. This is an increase from Ameriprise Financial’s previous quarterly dividend of $0.90. This represents a $3.88 dividend on an annualized basis and a dividend yield of 2.54%. The ex-dividend date of this dividend was Friday, May 3rd. Ameriprise Financial’s dividend payout ratio (DPR) is presently 25.97%.
In related news, EVP Randy Kupper sold 5,160 shares of Ameriprise Financial 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 sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 1.90% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in AMP. Norges Bank purchased a new position in shares of Ameriprise Financial in the fourth quarter worth approximately $613,867,000. Oregon Public Employees Retirement Fund boosted its holdings in shares of Ameriprise Financial by 9,885.8% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 3,413,630 shares of the financial services provider’s stock worth $33,000 after purchasing an additional 3,379,445 shares during the period. Aristotle Capital Management LLC boosted its holdings in shares of Ameriprise Financial by 3.1% during the first quarter. Aristotle Capital Management LLC now owns 3,029,669 shares of the financial services provider’s stock worth $388,101,000 after purchasing an additional 90,254 shares during the period. Geode Capital Management LLC lifted its stake in Ameriprise Financial by 12.7% in the first quarter. Geode Capital Management LLC now owns 2,199,254 shares of the financial services provider’s stock valued at $281,284,000 after acquiring an additional 247,848 shares during the last quarter. Finally, American Century Companies Inc. lifted its stake in Ameriprise Financial by 12.4% in the fourth quarter. American Century Companies Inc. now owns 2,192,388 shares of the financial services provider’s stock valued at $228,820,000 after acquiring an additional 242,695 shares during the last quarter. 81.16% of the stock is currently owned by institutional investors.
About Ameriprise Financial (NYSE:AMP)
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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