Ameriprise Financial, Inc. (NYSE:AMP) – Analysts at William Blair reduced their Q4 2020 earnings per share estimates for Ameriprise Financial in a report released on Tuesday, March 17th. William Blair analyst A. Klauber now expects that the financial services provider will earn $4.31 per share for the quarter, down from their prior forecast of $4.77. William Blair has a “Outperform” rating on the stock.
A number of other research firms have also recently weighed in on AMP. Royal Bank of Canada raised their price target on Ameriprise Financial from $190.00 to $196.00 and gave the company an “outperform” rating in a report on Friday, January 31st. Zacks Investment Research cut Ameriprise Financial from a “buy” rating to a “hold” rating and set a $93.00 price target for the company. in a report on Tuesday. ValuEngine raised Ameriprise Financial from a “strong sell” rating to a “sell” rating in a report on Tuesday. Piper Sandler dropped their price target on Ameriprise Financial from $189.00 to $145.00 and set an “overweight” rating for the company in a report on Tuesday, March 10th. Finally, Cfra raised their price target on Ameriprise Financial from $165.00 to $189.00 and gave the company a “buy” rating in a report on Monday, February 3rd. One investment analyst has rated the stock with a sell rating, two have given a hold rating and ten have assigned a buy rating to the company’s stock. Ameriprise Financial currently has a consensus rating of “Buy” and a consensus price target of $169.64.
AMP stock opened at $95.43 on Thursday. The business has a fifty day moving average price of $151.73 and a 200 day moving average price of $154.19. Ameriprise Financial has a fifty-two week low of $80.01 and a fifty-two week high of $180.85. The stock has a market capitalization of $11.28 billion, a price-to-earnings ratio of 6.84 and a beta of 1.85. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.67 and a quick ratio of 0.67.
Ameriprise Financial (NYSE:AMP) last posted its earnings results on Wednesday, January 29th. The financial services provider reported $4.20 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $4.25 by ($0.05). The company had revenue of $3.29 billion for the quarter, compared to the consensus estimate of $3.05 billion. Ameriprise Financial had a return on equity of 37.39% and a net margin of 14.60%. Ameriprise Financial’s quarterly revenue was up 3.4% compared to the same quarter last year. During the same quarter last year, the business earned $3.80 EPS.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in AMP. Norges Bank acquired a new stake in shares of Ameriprise Financial in the 4th quarter valued at $315,734,000. Boston Partners grew its stake in shares of Ameriprise Financial by 837.0% during the third quarter. Boston Partners now owns 1,373,068 shares of the financial services provider’s stock worth $202,004,000 after purchasing an additional 1,226,534 shares during the period. TD Asset Management Inc. grew its stake in shares of Ameriprise Financial by 43.4% during the fourth quarter. TD Asset Management Inc. now owns 467,939 shares of the financial services provider’s stock worth $77,950,000 after purchasing an additional 141,686 shares during the period. Bank of Montreal Can grew its stake in shares of Ameriprise Financial by 9.0% during the fourth quarter. Bank of Montreal Can now owns 1,028,464 shares of the financial services provider’s stock worth $171,321,000 after purchasing an additional 85,255 shares during the period. Finally, Exchange Traded Concepts LLC acquired a new stake in shares of Ameriprise Financial during the fourth quarter worth $13,513,000. 86.04% of the stock is owned by institutional investors.
In other news, CFO Walter Stanley Berman sold 52,160 shares of Ameriprise Financial stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $177.43, for a total value of $9,254,748.80. Following the completion of the sale, the chief financial officer now directly owns 69,433 shares of the company’s stock, valued at approximately $12,319,497.19. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Karen Wilson Thissen sold 530 shares of Ameriprise Financial stock in a transaction on Monday, February 10th. The shares were sold at an average price of $175.72, for a total value of $93,131.60. Following the completion of the sale, the vice president now directly owns 13,194 shares of the company’s stock, valued at $2,318,449.68. The disclosure for this sale can be found here. Insiders have sold a total of 59,805 shares of company stock valued at $10,595,994 over the last ninety days. Insiders own 1.90% of the company’s stock.
The firm also recently declared a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 14th were issued a dividend of $0.97 per share. The ex-dividend date was Thursday, February 13th. This represents a $3.88 dividend on an annualized basis and a yield of 4.07%. Ameriprise Financial’s dividend payout ratio is 24.10%.
Ameriprise Financial Company Profile
Ameriprise Financial, Inc, through its subsidiaries, provides various financial products and services to individual and institutional clients in the United States and internationally. It operates through five segments: Advice & Wealth Management, Asset Management, Annuities, Protection, and Corporate & Other.
