Piper Sandler Trims Ameriprise Financial (NYSE:AMP) Target Price to $387.00

Ameriprise Financial (NYSE:AMP) had its target price trimmed by Piper Sandler from $390.00 to $387.00 in a report published on Friday morning, Benzinga reports. They currently have an underweight rating on the financial services provider’s stock.

Several other research analysts have also weighed in on AMP. Argus lifted their price objective on Ameriprise Financial from $440.00 to $460.00 and gave the stock a buy rating in a research report on Monday, May 6th. Keefe, Bruyette & Woods lifted their target price on Ameriprise Financial from $420.00 to $460.00 and gave the stock a market perform rating in a report on Wednesday, April 10th. The Goldman Sachs Group raised their price objective on shares of Ameriprise Financial from $437.00 to $488.00 and gave the stock a buy rating in a research report on Wednesday, March 27th. Royal Bank of Canada boosted their target price on shares of Ameriprise Financial from $470.00 to $480.00 and gave the company an outperform rating in a research report on Wednesday, April 24th. Finally, Raymond James started coverage on shares of Ameriprise Financial in a report on Thursday, March 21st. They issued a market perform rating for the company. One analyst has rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, Ameriprise Financial has a consensus rating of Hold and a consensus target price of $456.22.

Ameriprise Financial Price Performance

Ameriprise Financial stock opened at $427.19 on Friday. The firm has a market cap of $42.43 billion, a P/E ratio of 14.54, a P/E/G ratio of 0.73 and a beta of 1.36. The stock’s 50 day moving average is $428.66 and its 200 day moving average is $410.88. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.56 and a quick ratio of 0.56. Ameriprise Financial has a one year low of $306.63 and a one year high of $446.32.

Ameriprise Financial (NYSE:AMP) last posted its quarterly earnings data on Wednesday, April 24th. The financial services provider reported $8.39 EPS for the quarter, beating analysts’ consensus estimates of $8.10 by $0.29. Ameriprise Financial had a net margin of 19.42% and a return on equity of 75.97%. The company had revenue of $4.15 billion for the quarter, compared to analyst estimates of $4.15 billion. During the same period in the prior year, the firm posted $7.25 EPS. The company’s quarterly revenue was up 10.8% on a year-over-year basis. As a group, research analysts expect that Ameriprise Financial will post 34.95 EPS for the current year.

Ameriprise Financial Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 17th. Investors of record on Monday, May 6th were given a $1.48 dividend. This is a boost from Ameriprise Financial’s previous quarterly dividend of $1.35. The ex-dividend date was Friday, May 3rd. This represents a $5.92 annualized dividend and a yield of 1.39%. Ameriprise Financial’s dividend payout ratio (DPR) is presently 20.15%.

Insiders Place Their Bets

In other news, Director Robert Francis Sharpe, Jr. sold 1,500 shares of the firm’s stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $438.07, for a total value of $657,105.00. Following the transaction, the director now owns 11,000 shares in the company, valued at $4,818,770. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.73% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Signaturefd LLC increased its stake in Ameriprise Financial by 1.1% in the 1st quarter. Signaturefd LLC now owns 2,296 shares of the financial services provider’s stock valued at $1,007,000 after buying an additional 26 shares during the last quarter. Aua Capital Management LLC increased its position in shares of Ameriprise Financial by 4.7% during the first quarter. Aua Capital Management LLC now owns 604 shares of the financial services provider’s stock valued at $265,000 after acquiring an additional 27 shares during the last quarter. Gratus Wealth Advisors LLC lifted its holdings in Ameriprise Financial by 1.5% during the first quarter. Gratus Wealth Advisors LLC now owns 1,887 shares of the financial services provider’s stock worth $779,000 after acquiring an additional 27 shares during the period. Resonant Capital Advisors LLC boosted its position in Ameriprise Financial by 4.7% in the first quarter. Resonant Capital Advisors LLC now owns 619 shares of the financial services provider’s stock worth $271,000 after purchasing an additional 28 shares during the last quarter. Finally, PDS Planning Inc grew its stake in Ameriprise Financial by 3.7% in the 1st quarter. PDS Planning Inc now owns 775 shares of the financial services provider’s stock valued at $340,000 after purchasing an additional 28 shares during the period. 83.95% of the stock is owned by institutional investors.

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.