New Price Targets for Ameriprise Financial (AMP)
Recently, analysts provided updates on Ameriprise Financial’s stock. The Royal Bank of Canada increased its target price from $487 to $500 while rating the stock as “outperform.” On the other hand, Goldman Sachs reduced its rating from “buy” to “neutral” and lowered the price target from $485 to $476. Keefe, Bruyette & Woods also cut their target price from $470 to $460 with a “market perform” rating. Jefferies raised their target from $500 to $504 and assigned a “buy” rating. UBS lowered its target from $500 to $495 while maintaining a “buy” rating. Currently, one analyst rates the stock as a sell, six as hold, and four as buy. The average rating is “Hold” with a target of $463.
Read Our Latest Stock Analysis of Ameriprise Financial
A Financial Overview of Ameriprise Financial
Ameriprise has a market cap of $47.63 billion with a P/E ratio of 16.31. The company reported earnings of $8.72 per share for the last quarter, surpassing estimates by $0.19. Revenue was $4.39 billion, higher than the expected $4.24 billion, marking a 9.6% increase from last year. Analysts predict earnings of $34.81 per share for the fiscal year.
Recent Dividend Announcement
The company declared a quarterly dividend of $1.48 per share on August 16th, with an annual yield of 1.23%. The current payout ratio is 20.15%.
Insider Activity
On August 30th, VP William Davies sold 8,700 shares at $442.07, totaling about $3.85 million. He now holds 13,199 shares valued at around $5.83 million. Company insiders own 0.73% of shares.
Institutional Investment Trends
Several hedge funds have recently adjusted their holdings in AMP. For instance, JPMorgan increased its stake by 18.6%, now holding 3.84 million shares. Institutional investors now own 83.95% of the company’s stock.
About Ameriprise Financial
Ameriprise Financial, Inc. offers a variety of financial services and products for individual and institutional clients, operating in four main segments: Advice & Wealth Management, Asset Management, Retirement & Protection Solutions, and Corporate & Other.
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