Ameriprise Financial, Inc. (NYSE:AMP) has received an average recommendation of “Hold” from the ten research firms that are presently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, five have issued a hold recommendation and four have assigned a buy recommendation to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $161.25.

Several research analysts have weighed in on the stock. ValuEngine upgraded shares of Ameriprise Financial from a “sell” rating to a “hold” rating in a research report on Saturday, July 28th. Sandler O’Neill set a $158.00 target price on shares of Ameriprise Financial and gave the stock a “hold” rating in a research report on Wednesday, July 25th. Zacks Investment Research upgraded shares of Ameriprise Financial from a “hold” rating to a “buy” rating and set a $169.00 target price on the stock in a research report on Friday, October 5th. Credit Suisse Group lowered their target price on shares of Ameriprise Financial from $154.00 to $145.00 and set a “neutral” rating on the stock in a research report on Friday, August 17th. Finally, Royal Bank of Canada set a $160.00 target price on shares of Ameriprise Financial and gave the stock a “hold” rating in a research report on Friday, October 12th.

NYSE AMP traded down $2.14 during trading hours on Monday, hitting $127.66. 814,559 shares of the stock were exchanged, compared to its average volume of 1,221,703. The stock has a market capitalization of $18.06 billion, a P/E ratio of 10.40 and a beta of 1.79. Ameriprise Financial has a 12-month low of $120.79 and a 12-month high of $183.90. The company has a quick ratio of 0.69, a current ratio of 0.66 and a debt-to-equity ratio of 0.75.

Ameriprise Financial (NYSE:AMP) last issued its earnings results on Tuesday, October 23rd. The financial services provider reported $4.05 earnings per share for the quarter, topping the consensus estimate of $3.68 by $0.37. Ameriprise Financial had a net margin of 13.58% and a return on equity of 37.21%. The company had revenue of $3.19 billion for the quarter, compared to analyst estimates of $3.20 billion. During the same period in the prior year, the business posted $3.12 earnings per share. The firm’s revenue for the quarter was up 4.7% compared to the same quarter last year. On average, equities research analysts expect that Ameriprise Financial will post 15.04 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, November 16th. Shareholders of record on Monday, November 5th will be given a dividend of $0.90 per share. The ex-dividend date of this dividend is Friday, November 2nd. This represents a $3.60 annualized dividend and a yield of 2.82%. Ameriprise Financial’s payout ratio is currently 29.34%.

A number of institutional investors and hedge funds have recently modified their holdings of AMP. Bridgewater Associates LP grew its position in shares of Ameriprise Financial by 121.6% in the second quarter. Bridgewater Associates LP now owns 13,983 shares of the financial services provider’s stock valued at $1,956,000 after purchasing an additional 7,672 shares during the last quarter. Commonwealth Bank of Australia grew its position in shares of Ameriprise Financial by 4.4% in the second quarter. Commonwealth Bank of Australia now owns 27,495 shares of the financial services provider’s stock valued at $3,839,000 after purchasing an additional 1,150 shares during the last quarter. DNB Asset Management AS grew its position in shares of Ameriprise Financial by 2.3% in the third quarter. DNB Asset Management AS now owns 18,707 shares of the financial services provider’s stock valued at $2,762,000 after purchasing an additional 423 shares during the last quarter. OppenheimerFunds Inc. grew its position in shares of Ameriprise Financial by 1.9% in the second quarter. OppenheimerFunds Inc. now owns 413,087 shares of the financial services provider’s stock valued at $57,783,000 after purchasing an additional 7,577 shares during the last quarter. Finally, Brown Advisory Inc. grew its position in shares of Ameriprise Financial by 2.4% in the second quarter. Brown Advisory Inc. now owns 1,149,432 shares of the financial services provider’s stock valued at $160,784,000 after purchasing an additional 27,050 shares during the last quarter. Institutional investors own 81.72% of the company’s stock.

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 Advice & Wealth Management, Asset Management, Annuities, and Protection segments. The Advice & Wealth Management segment provides financial planning and advice, as well as full-service brokerage services primarily to retail clients through its advisors.

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Analyst Recommendations for Ameriprise Financial (NYSE:AMP)

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