Ameriprise Financial (NYSE:AMP) Given New $442.00 Price Target at Piper Sandler

Ameriprise Financial (NYSE:AMP) had its target price upped by Piper Sandler from $415.00 to $442.00 in a report released on Friday morning,Benzinga reports. The brokerage currently has an underweight rating on the financial services provider’s stock.

Other equities research analysts have also issued reports about the company. UBS Group lowered Ameriprise Financial from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $580.00 to $570.00 in a research report on Monday, January 6th. Morgan Stanley lifted their price target on shares of Ameriprise Financial from $440.00 to $502.00 and gave the company an “equal weight” rating in a report on Thursday, October 17th. Keefe, Bruyette & Woods decreased their price objective on shares of Ameriprise Financial from $565.00 to $560.00 and set a “market perform” rating for the company in a report on Friday, January 10th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $625.00 target price on shares of Ameriprise Financial in a research report on Monday, January 27th. One research analyst has rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $509.33.

Ameriprise Financial Trading Down 0.9 %

NYSE:AMP opened at $542.83 on Friday. The firm has a market capitalization of $52.66 billion, a P/E ratio of 16.42, a P/E/G ratio of 0.87 and a beta of 1.36. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.99. The company has a fifty day moving average of $547.55 and a 200 day moving average of $497.53. Ameriprise Financial has a 52 week low of $378.05 and a 52 week high of $582.05.

Ameriprise Financial (NYSE:AMP) last issued its quarterly earnings data on Wednesday, January 29th. The financial services provider reported $9.36 EPS for the quarter, beating the consensus estimate of $9.16 by $0.20. Ameriprise Financial had a net margin of 19.70% and a return on equity of 69.46%. On average, research analysts predict that Ameriprise Financial will post 39.04 earnings per share for the current year.

Ameriprise Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Monday, February 10th will be issued a $1.48 dividend. This represents a $5.92 dividend on an annualized basis and a yield of 1.09%. The ex-dividend date is Monday, February 10th. Ameriprise Financial’s dividend payout ratio (DPR) is presently 17.91%.

Insider Activity

In related news, insider Joseph Edward Sweeney sold 10,735 shares of the stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $549.68, for a total transaction of $5,900,814.80. Following the sale, the insider now directly owns 5,811 shares of the company’s stock, valued at approximately $3,194,190.48. This represents a 64.88 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Walter Stanley Berman sold 8,655 shares of Ameriprise Financial stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $564.16, for a total transaction of $4,882,804.80. Following the completion of the transaction, the chief financial officer now directly owns 6,409 shares of the company’s stock, valued at $3,615,701.44. This trade represents a 57.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.73% of the company’s stock.

Institutional Investors Weigh In On Ameriprise Financial

Several institutional investors and hedge funds have recently made changes to their positions in the company. Wingate Wealth Advisors Inc. purchased a new position in Ameriprise Financial in the 4th quarter worth about $30,000. Oakworth Capital Inc. purchased a new position in shares of Ameriprise Financial during the third quarter valued at approximately $31,000. Country Trust Bank lifted its position in Ameriprise Financial by 213.6% during the third quarter. Country Trust Bank now owns 69 shares of the financial services provider’s stock valued at $32,000 after purchasing an additional 47 shares during the period. Sound Income Strategies LLC purchased a new stake in Ameriprise Financial in the fourth quarter worth approximately $36,000. Finally, Golden State Wealth Management LLC bought a new stake in Ameriprise Financial in the 4th quarter worth approximately $38,000. Institutional investors own 83.95% of the company’s stock.

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.