Recent reports on Ameriprise Financial show varied analyst opinions. Piper Sandler lowered its price target from $390 to $387 with an “underweight” rating. Jefferies raised their target from $500 to $504 with a “buy” rating. Goldman Sachs downgraded the stock from “buy” to “neutral,” cutting their price target from $485 to $476. Morgan Stanley decreased their target from $444 to $440, rating it “equal weight.” Keefe, Bruyette & Woods lowered their target from $470 to $460 with a “market perform” rating. Currently, one analyst rates the stock as a sell, six as hold, and four as buy, leading to an average rating of “Hold” and a price target of about $469.67.
Read Our Latest Research on AMP
Insider Activity
In related news, VP William Davies sold 8,700 shares on August 30 at an average price of $442.07, totaling $3,846,009. Now, he holds 13,199 shares valued at about $5,834,882. Insiders control 0.73% of the company.
Hedge Fund Activity
Hedge funds have adjusted their holdings in Ameriprise Financial. Tobam increased its stake by 34.1%, owning 173 shares worth $81,000 after adding 44 shares. UMB Bank increased its holdings by 20.8%, now owning 3,006 shares valued at $1.4 million. Kelly Financial Services added 25.6%, owning 574 shares worth $270,000. Wedmont Private Capital increased its stake by 1.4%, owning 3,446 shares valued at $1.66 million. Peddock Capital Advisors raised its position by 1.5%, holding 4,803 shares worth $2.26 million. Institutional investors own 83.95% of the stock.
Stock Performance
The stock has a market cap of $48.74 billion, a P/E ratio of 16.47, and a Beta of 1.35. Its 50-day moving average is $441.01, and the 200-day is $433.11. Ameriprise reported $8.72 EPS for the last quarter, exceeding estimates of $8.53. Revenue was $4.39 billion, up 9.6% year-over-year.
Dividend Announcement
The company paid a quarterly dividend of $1.48 on August 16 to shareholders recorded on August 5. The annualized dividend is $5.92, yielding 1.21% with a payout ratio of 20.15%.
Company Overview
Ameriprise Financial offers various financial products and services for individual and institutional clients in the U.S. and internationally across four segments: Advice & Wealth Management, Asset Management, Retirement & Protection Solutions, and Corporate & Other.
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