Ameriprise Financial’s (AMP) Outperform Rating Reaffirmed at Royal Bank of Canada

Royal Bank of Canada reaffirmed their outperform rating on shares of Ameriprise Financial (NYSE:AMP) in a research report report published on Monday morning,Benzinga reports. Royal Bank of Canada currently has a $625.00 target price on the financial services provider’s stock.

Several other equities analysts have also recently commented on AMP. Morgan Stanley boosted their target price on Ameriprise Financial from $440.00 to $502.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 17th. Keefe, Bruyette & Woods dropped their price target on Ameriprise Financial from $565.00 to $560.00 and set a “market perform” rating for the company in a research report on Friday, January 10th. Finally, UBS Group downgraded Ameriprise Financial from a “buy” rating to a “neutral” rating and dropped their price target for the company from $580.00 to $570.00 in a research report on Monday, January 6th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, Ameriprise Financial has an average rating of “Hold” and a consensus target price of $503.22.

Ameriprise Financial Trading Up 0.6 %

Shares of Ameriprise Financial stock opened at $575.28 on Monday. The company’s 50-day moving average price is $548.34 and its 200-day moving average price is $495.95. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.99. Ameriprise Financial has a 12-month low of $378.05 and a 12-month high of $577.89. The company has a market cap of $55.81 billion, a price-to-earnings ratio of 22.08, a PEG ratio of 0.85 and a beta of 1.36.

Ameriprise Financial (NYSE:AMP) last posted its earnings results on Wednesday, January 29th. The financial services provider reported $9.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $9.16 by $0.20. Ameriprise Financial had a net margin of 15.99% and a return on equity of 68.52%. On average, equities analysts expect that Ameriprise Financial will post 33.96 earnings per share for the current fiscal year.

Ameriprise Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Monday, February 10th will be given a $1.48 dividend. This represents a $5.92 dividend on an annualized basis and a yield of 1.03%. Ameriprise Financial’s payout ratio is 22.73%.

Insider Buying and Selling

In other Ameriprise Financial news, insider Joseph Edward Sweeney sold 10,735 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $549.68, for a total value of $5,900,814.80. Following the completion of the sale, the insider now owns 5,811 shares in the company, valued at approximately $3,194,190.48. The trade was a 64.88 % decrease in their ownership of the stock. 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 the business’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $564.16, for a total value of $4,882,804.80. Following the completion of the sale, the chief financial officer now owns 6,409 shares of the company’s stock, valued at $3,615,701.44. The trade was a 57.45 % decrease in their position. The disclosure for this sale can be found here. 0.73% of the stock is currently owned by corporate insiders.

Institutional Trading of Ameriprise Financial

Several hedge funds and other institutional investors have recently bought and sold shares of AMP. JPMorgan Chase & Co. lifted its position in Ameriprise Financial by 9.1% in the third quarter. JPMorgan Chase & Co. now owns 4,285,476 shares of the financial services provider’s stock valued at $2,013,359,000 after purchasing an additional 358,699 shares during the last quarter. Robeco Institutional Asset Management B.V. increased its stake in shares of Ameriprise Financial by 429.0% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 417,149 shares of the financial services provider’s stock valued at $222,103,000 after buying an additional 338,298 shares during the period. Maj Invest Holding A S purchased a new position in shares of Ameriprise Financial during the third quarter valued at approximately $98,742,000. Assenagon Asset Management S.A. increased its stake in shares of Ameriprise Financial by 816.7% during the fourth quarter. Assenagon Asset Management S.A. now owns 219,180 shares of the financial services provider’s stock valued at $116,698,000 after buying an additional 195,271 shares during the period. Finally, The Manufacturers Life Insurance Company increased its stake in shares of Ameriprise Financial by 144.0% during the third quarter. The Manufacturers Life Insurance Company now owns 243,385 shares of the financial services provider’s stock valued at $114,345,000 after buying an additional 143,648 shares during the period. 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.