Ameriprise Financial (NYSE:AMP) PT Lowered to $460.00

Ameriprise Financial (NYSE:AMP) had its price objective decreased by Keefe, Bruyette & Woods from $470.00 to $460.00 in a research note released on Tuesday, Benzinga reports. Keefe, Bruyette & Woods currently has a market perform rating on the financial services provider’s stock.

Other analysts have also recently issued reports about the stock. Jefferies Financial Group boosted their price objective on shares of Ameriprise Financial from $500.00 to $504.00 and gave the stock a buy rating in a research note on Friday, June 28th. Argus raised their price target on Ameriprise Financial from $440.00 to $460.00 and gave the company a buy rating in a research report on Monday, May 6th. UBS Group cut their price objective on Ameriprise Financial from $500.00 to $495.00 and set a buy rating for the company in a research report on Tuesday, July 9th. Piper Sandler lowered their target price on Ameriprise Financial from $390.00 to $387.00 and set an underweight rating on the stock in a report on Friday, June 28th. Finally, Morgan Stanley cut their price target on Ameriprise Financial from $444.00 to $440.00 and set an equal weight rating for the company in a report on Monday, July 29th. One equities research 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’s stock. Based on data from MarketBeat, the stock has an average rating of Hold and a consensus price target of $464.33.

Ameriprise Financial Trading Down 3.8 %

Ameriprise Financial stock opened at $402.61 on Tuesday. Ameriprise Financial has a one year low of $306.63 and a one year high of $449.94. The company’s fifty day moving average price is $430.64 and its two-hundred day moving average price is $419.26. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.59 and a quick ratio of 0.56. The company has a market capitalization of $39.99 billion, a price-to-earnings ratio of 13.70, a PEG ratio of 0.75 and a beta of 1.37.

Ameriprise Financial (NYSE:AMP) last issued its quarterly earnings data on Wednesday, July 24th. The financial services provider reported $8.72 EPS for the quarter, beating analysts’ consensus estimates of $8.53 by $0.19. Ameriprise Financial had a return on equity of 73.83% and a net margin of 18.64%. The business had revenue of $4.39 billion for the quarter, compared to analyst estimates of $4.24 billion. During the same quarter in the prior year, the firm posted $7.44 EPS. The firm’s revenue for the quarter was up 9.6% on a year-over-year basis. On average, analysts forecast that Ameriprise Financial will post 34.77 earnings per share for the current fiscal year.

Ameriprise Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 16th. Stockholders of record on Monday, August 5th will be paid a $1.48 dividend. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.47%. The ex-dividend date of this dividend is Monday, August 5th. Ameriprise Financial’s dividend payout ratio is 20.15%.

Insider Transactions at Ameriprise Financial

In related news, Director Robert Francis Sharpe, Jr. sold 1,500 shares of the stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $438.07, for a total value of $657,105.00. Following the completion of the transaction, the director now owns 11,000 shares of the company’s stock, valued at $4,818,770. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.73% of the stock is owned by insiders.

Institutional Trading of Ameriprise Financial

A number of large investors have recently bought and sold shares of the stock. Retirement Group LLC bought a new stake in shares of Ameriprise Financial in the 1st quarter worth about $25,000. DiNuzzo Private Wealth Inc. increased its holdings in shares of Ameriprise Financial by 268.8% during the second quarter. DiNuzzo Private Wealth Inc. now owns 59 shares of the financial services provider’s stock worth $25,000 after buying an additional 43 shares in the last quarter. Accordant Advisory Group Inc bought a new position in shares of Ameriprise Financial in the second quarter valued at approximately $26,000. Redmont Wealth Advisors LLC acquired a new position in shares of Ameriprise Financial in the 1st quarter worth approximately $28,000. Finally, Mascoma Wealth Management LLC boosted its holdings in shares of Ameriprise Financial by 153.8% in the 2nd quarter. Mascoma Wealth Management LLC now owns 66 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 40 shares in the last quarter. 83.95% of the stock is currently owned by institutional investors.

About Ameriprise Financial

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.