Ameriprise Financial (NYSE:AMP) Hits New 1-Year High – What’s Next?

by · The Markets Daily

Ameriprise Financial, Inc. (NYSE:AMP – Get Free Report)’s stock price reached a new 52-week high on Wednesday . The stock traded as high as $540.10 and last traded at $540.10, with a volume of 2707 shares trading hands. The stock had previously closed at $513.95.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on AMP shares. Keefe, Bruyette & Woods lifted their price objective on shares of Ameriprise Financial from $475.00 to $510.00 and gave the company a “market perform” rating in a report on Tuesday, October 29th. Royal Bank of Canada lifted their price target on shares of Ameriprise Financial from $535.00 to $550.00 and gave the stock an “outperform” rating in a report on Friday, October 25th. The Goldman Sachs Group lowered Ameriprise Financial from a “buy” rating to a “neutral” rating and lowered their target price for the company from $485.00 to $476.00 in a research note on Thursday, September 26th. UBS Group boosted their price objective on Ameriprise Financial from $490.00 to $555.00 and gave the company a “buy” rating in a research note on Tuesday, October 8th. Finally, Morgan Stanley increased their target price on shares of Ameriprise Financial from $440.00 to $502.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 17th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, Ameriprise Financial has a consensus rating of “Hold” and a consensus price target of $487.67.

Check Out Our Latest Analysis on Ameriprise Financial

Ameriprise Financial Price Performance

The firm has a market cap of $55.72 billion, a PE ratio of 21.61, a P/E/G ratio of 0.88 and a beta of 1.34. The company has a quick ratio of 0.59, a current ratio of 0.65 and a debt-to-equity ratio of 0.99. The firm’s fifty day simple moving average is $477.73 and its two-hundred day simple moving average is $444.96.

Ameriprise Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Monday, November 4th will be issued a dividend of $1.48 per share. This represents a $5.92 annualized dividend and a dividend yield of 1.04%. The ex-dividend date is Monday, November 4th. Ameriprise Financial’s dividend payout ratio (DPR) is presently 22.73%.

Insider Buying and Selling

In other news, insider Gumer Alvero sold 2,325 shares of the stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $516.05, for a total value of $1,199,816.25. Following the sale, the insider now owns 4,669 shares of the company’s stock, valued at approximately $2,409,437.45. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, insider Gumer Alvero sold 2,325 shares of Ameriprise Financial stock in a transaction on Thursday, October 31st. The stock was sold at an average price of $516.05, for a total value of $1,199,816.25. Following the transaction, the insider now directly owns 4,669 shares in the company, valued at approximately $2,409,437.45. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP William Davies sold 8,700 shares of Ameriprise Financial stock in a transaction that occurred 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 transaction, the vice president now directly owns 13,199 shares in the company, valued at approximately $5,834,881.93. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.96% of the stock is owned by company insiders.

Institutional Investors Weigh In On Ameriprise Financial

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. boosted its holdings in Ameriprise Financial by 18.6% in the 1st quarter. JPMorgan Chase & Co. now owns 3,844,165 shares of the financial services provider’s stock valued at $1,685,436,000 after purchasing an additional 603,267 shares during the last quarter. Swedbank AB acquired a new stake in Ameriprise Financial during the first quarter worth $108,938,000. Maj Invest Holding A S acquired a new position in shares of Ameriprise Financial in the 3rd quarter valued at $98,742,000. AGF Management Ltd. grew its holdings in shares of Ameriprise Financial by 35.4% during the 2nd quarter. AGF Management Ltd. now owns 504,657 shares of the financial services provider’s stock worth $215,584,000 after purchasing an additional 131,844 shares during the period. Finally, TD Asset Management Inc increased its position in shares of Ameriprise Financial by 18.8% during the 1st quarter. TD Asset Management Inc now owns 707,617 shares of the financial services provider’s stock worth $310,248,000 after purchasing an additional 111,973 shares during the last quarter. 83.95% of the stock is owned by institutional investors and hedge funds.

Ameriprise Financial Company Profile

(Get Free Report)

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.

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