Ameriprise Financial (NYSE:AMP) Shares Up 0.4%

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.

Ameriprise Financial (NYSE:AMP) last released its quarterly earnings results on Wednesday, April 24th. The financial services provider reported $3.75 earnings per share for the quarter, beating the Zacks’ consensus estimate of $3.61 by $0.14. The business had revenue of $3.12 billion during the quarter, compared to analyst estimates of $3.03 billion. Ameriprise Financial had a net margin of 14.85% and a return on equity of 37.97%. The business’s revenue was down 1.6% on a year-over-year basis. During the same period last year, the business earned $3.70 EPS. On average, analysts predict that Ameriprise Financial, Inc. will post 15.9 earnings per share for the current fiscal year.

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.

COPYRIGHT VIOLATION NOTICE: “Ameriprise Financial (NYSE:AMP) Shares Up 0.4%” was originally posted by Chaffey Breeze and is the sole property of of Chaffey Breeze. If you are reading this piece of content on another publication, it was stolen and republished in violation of U.S. and international copyright law. The original version of this piece of content can be viewed at https://www.chaffeybreeze.com/2019/06/14/ameriprise-financial-nyseamp-shares-up-0-4.html.

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.

Featured Article: Current Ratio

Receive News & Ratings for Ameriprise Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ameriprise Financial and related companies with MarketBeat.com's FREE daily email newsletter.