Ameriprise Financial, Inc. (NYSE:AMP) has been assigned an average rating of “Hold” from the ten ratings firms that are currently covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, four have given a hold recommendation and five have assigned a buy recommendation to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $150.00.
A number of brokerages have issued reports on AMP. Zacks Investment Research raised shares of Ameriprise Financial from a “sell” rating to a “hold” rating in a report on Tuesday, February 12th. Royal Bank of Canada set a $134.00 target price on shares of Ameriprise Financial and gave the stock a “hold” rating in a report on Saturday, February 2nd. Morgan Stanley cut their price target on Ameriprise Financial from $177.00 to $170.00 and set an “overweight” rating on the stock in a report on Tuesday, November 13th. UBS Group cut their price target on Ameriprise Financial from $204.00 to $186.00 and set a “buy” rating on the stock in a report on Wednesday, October 24th. Finally, ValuEngine raised Ameriprise Financial from a “strong sell” rating to a “sell” rating in a report on Tuesday, January 15th.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. IFP Advisors Inc raised its holdings in shares of Ameriprise Financial by 3.4% during the fourth quarter. IFP Advisors Inc now owns 2,893 shares of the financial services provider’s stock valued at $298,000 after buying an additional 95 shares during the last quarter. MAI Capital Management raised its holdings in Ameriprise Financial by 4.7% during the fourth quarter. MAI Capital Management now owns 2,354 shares of the financial services provider’s stock worth $246,000 after purchasing an additional 105 shares in the last quarter. Scotia Capital Inc. raised its holdings in Ameriprise Financial by 1.9% during the fourth quarter. Scotia Capital Inc. now owns 5,866 shares of the financial services provider’s stock worth $612,000 after purchasing an additional 110 shares in the last quarter. Private Asset Management Inc. raised its holdings in Ameriprise Financial by 4.0% during the fourth quarter. Private Asset Management Inc. now owns 3,007 shares of the financial services provider’s stock worth $314,000 after purchasing an additional 117 shares in the last quarter. Finally, Penserra Capital Management LLC raised its holdings in Ameriprise Financial by 15.2% during the fourth quarter. Penserra Capital Management LLC now owns 912 shares of the financial services provider’s stock worth $95,000 after purchasing an additional 120 shares in the last quarter. 83.32% of the stock is currently owned by institutional investors.
Ameriprise Financial (NYSE:AMP) last issued its earnings results on Wednesday, January 30th. The financial services provider reported $3.80 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $3.68 by $0.12. Ameriprise Financial had a net margin of 16.35% and a return on equity of 38.65%. The firm had revenue of $3.18 billion for the quarter, compared to analysts’ expectations of $3.15 billion. During the same quarter last year, the company posted $1.18 earnings per share. Ameriprise Financial’s revenue was up .0% on a year-over-year basis. As a group, equities research analysts expect that Ameriprise Financial will post 15.7 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 28th. Stockholders of record on Friday, February 15th will be issued a dividend of $0.90 per share. The ex-dividend date of this dividend is Thursday, February 14th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 2.75%. Ameriprise Financial’s dividend payout ratio (DPR) is presently 24.10%.
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 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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