Several research firms have recently updated their ratings on Ameriprise Financial (AMP). On October 10, Keefe, Bruyette & Woods upgraded their rating from “hold” to “strong-buy.” Royal Bank of Canada raised the target price from $500 to $535, assigning an “outperform” rating on October 11. UBS increased the target from $490 to $555 with a “buy” rating on October 8. Jefferies Financial raised their target to $504, also giving a “buy” rating on June 28. In contrast, Goldman Sachs downgraded the stock from “buy” to “neutral,” lowering the target from $485 to $476 on September 26. Overall, one analyst rated it as a sell, five as hold, four as buy, and one as strong buy, with a consensus rating of “Hold” and an average price target of $480.44 according to MarketBeat.com.
Read Our Latest Analysis on AMP
Ameriprise Financial Stock Up 0.3%
Shares of NYSE:AMP opened at $523.16. The stock has a 50-day average of $457.59 and a 200-day average of $437.23. Ameriprise has a market cap of $51.96 billion and a PE ratio of 17.81. The company’s shares ranged from a low of $306.63 to a high of $524.89 in the past year.
Ameriprise reported quarterly earnings of $8.72 per share on July 24, surpassing expectations of $8.53. The revenue was $4.39 billion, exceeding estimates of $4.24 billion. The company also saw a 9.6% year-over-year revenue growth.
Ameriprise Financial Dividend Announcement
A quarterly dividend of $1.48 per share was paid on August 16 to stockholders on record as of August 5, representing an annual payout of $5.92 and a yield of 1.13%. The dividend payout ratio is currently at 20.15%.
Insider Activity at Ameriprise Financial
On August 30, VP William Davies sold 8,700 shares at $442.07 each, totaling $3,846,009. After the sale, he holds 13,199 shares valued at about $5.83 million. Insiders own 0.73% of the company.
Institutional Investor Activity
Recent changes by institutional investors include JPMorgan increasing its stake by 18.6%, now owning 3.84 million shares worth $1.68 billion. Swedbank acquired new shares valued at $108.94 million, and AGF Management boosted their holding by 35.4%. Overall, 83.95% of the stock is held by institutional investors.
About Ameriprise Financial
Ameriprise Financial, Inc. offers various financial products and services through segments like Advice & Wealth Management and Asset Management.
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