Ameriprise Financial (NYSE:AMP) Shares Gap Down – What’s Next?

Shares of Ameriprise Financial, Inc. (NYSE:AMP) gapped down before the market opened on Thursday . The stock had previously closed at $520.47, but opened at $500.54. Ameriprise Financial shares last traded at $492.96, with a volume of 52,929 shares traded.

Analysts Set New Price Targets

A number of research analysts have commented on AMP shares. Keefe, Bruyette & Woods upgraded Ameriprise Financial from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 10th. Royal Bank of Canada raised their price objective on Ameriprise Financial from $500.00 to $535.00 and gave the stock an “outperform” rating in a research report on Friday, October 11th. Piper Sandler dropped their price target on shares of Ameriprise Financial from $390.00 to $387.00 and set an “underweight” rating for the company in a research report on Friday, June 28th. Jefferies Financial Group increased their target price on shares of Ameriprise Financial from $500.00 to $504.00 and gave the stock a “buy” rating in a research report on Friday, June 28th. Finally, The Goldman Sachs Group lowered shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $485.00 to $476.00 in a report on Thursday, September 26th. One analyst has rated the stock with a sell rating, five have issued a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $480.44.

Ameriprise Financial Stock Down 3.2 %

The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 1.16. The firm’s 50 day moving average is $464.19 and its two-hundred day moving average is $439.06. The firm has a market cap of $50.03 billion, a P/E ratio of 16.78, a price-to-earnings-growth ratio of 0.81 and a beta of 1.35.

Ameriprise Financial (NYSE:AMP) last released its quarterly earnings results on Wednesday, July 24th. The financial services provider reported $8.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $8.53 by $0.19. The firm had revenue of $4.39 billion for the quarter, compared to the consensus estimate of $4.24 billion. Ameriprise Financial had a return on equity of 73.83% and a net margin of 18.64%. The company’s revenue for the quarter was up 9.6% on a year-over-year basis. During the same quarter last year, the business posted $7.44 EPS. As a group, research analysts anticipate that Ameriprise Financial, Inc. will post 34.92 EPS for the current fiscal year.

Ameriprise Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Monday, November 4th will be issued a dividend of $1.48 per share. This represents a $5.92 dividend on an annualized basis and a yield of 1.18%. Ameriprise Financial’s payout ratio is 20.15%.

Insider Activity

In other Ameriprise Financial news, VP William Davies sold 8,700 shares of the firm’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $442.07, for a total transaction of $3,846,009.00. Following the completion of the sale, the vice president now owns 13,199 shares of the company’s stock, valued at $5,834,881.93. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.73% of the stock is owned by insiders.

Hedge Funds Weigh In On Ameriprise Financial

A number of hedge funds have recently added to or reduced their stakes in the stock. Wellington Management Group LLP increased its stake in shares of Ameriprise Financial by 11.4% in the 4th quarter. Wellington Management Group LLP now owns 6,158 shares of the financial services provider’s stock valued at $2,339,000 after purchasing an additional 630 shares during the last quarter. Los Angeles Capital Management LLC boosted its position in Ameriprise Financial by 10.6% during the 1st quarter. Los Angeles Capital Management LLC now owns 702 shares of the financial services provider’s stock worth $308,000 after buying an additional 67 shares during the period. Sound Income Strategies LLC acquired a new position in Ameriprise Financial during the 1st quarter worth about $32,000. Aspiriant LLC boosted its holdings in Ameriprise Financial by 16.6% in the first quarter. Aspiriant LLC now owns 946 shares of the financial services provider’s stock valued at $415,000 after acquiring an additional 135 shares during the last quarter. Finally, Revolve Wealth Partners LLC bought a new position in Ameriprise Financial during the first quarter worth $204,000. Institutional investors own 83.95% of the company’s stock.

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.