Ameriprise Financial (NYSE:AMP) Rating Lowered to Hold at StockNews.com

by · The Cerbat Gem

StockNews.com cut shares of Ameriprise Financial (NYSE:AMP – Free Report) from a buy rating to a hold rating in a report issued on Wednesday.

AMP has been the subject of a number of other reports. Morgan Stanley lifted their target price on shares of Ameriprise Financial from $360.00 to $365.00 and gave the company an equal weight rating in a research note on Wednesday, November 15th. Royal Bank of Canada reiterated an outperform rating and issued a $410.00 target price on shares of Ameriprise Financial in a research note on Tuesday, October 31st. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of Moderate Buy and an average price target of $385.50.

Check Out Our Latest Stock Report on AMP

Ameriprise Financial Stock Performance

AMP stock opened at $356.29 on Wednesday. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.57 and a current ratio of 0.57. The stock has a market cap of $36.06 billion, a P/E ratio of 14.50, a P/E/G ratio of 0.76 and a beta of 1.44. The firm has a 50 day simple moving average of $331.41 and a 200 day simple moving average of $331.92. Ameriprise Financial has a 52 week low of $275.09 and a 52 week high of $358.14.

Ameriprise Financial (NYSE:AMP – Get Free Report) last posted its quarterly earnings results on Wednesday, October 25th. The financial services provider reported $7.68 EPS for the quarter, topping the consensus estimate of $7.58 by $0.10. The business had revenue of $3.91 billion during the quarter, compared to analysts’ expectations of $3.96 billion. Ameriprise Financial had a net margin of 17.63% and a return on equity of 81.75%. Research analysts anticipate that Ameriprise Financial will post 29.53 earnings per share for the current fiscal year.

Ameriprise Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 17th. Stockholders of record on Monday, November 6th were given a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a dividend yield of 1.52%. The ex-dividend date was Friday, November 3rd. Ameriprise Financial’s dividend payout ratio is 21.98%.

Hedge Funds Weigh In On Ameriprise Financial

Institutional investors have recently modified their holdings of the company. OFI Invest Asset Management bought a new position in shares of Ameriprise Financial in the third quarter valued at approximately $25,000. Graham Capital Wealth Management LLC bought a new position in shares of Ameriprise Financial in the first quarter valued at approximately $254,395,000. Financial Freedom LLC bought a new position in shares of Ameriprise Financial in the fourth quarter valued at approximately $27,000. Carmel Capital Partners LLC bought a new position in shares of Ameriprise Financial in the third quarter valued at approximately $30,000. Finally, FinTrust Capital Advisors LLC bought a new position in shares of Ameriprise Financial in the fourth quarter valued at approximately $32,000. Institutional investors own 82.62% of the company’s stock.

About Ameriprise Financial

(Get Free Report)

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 four segments: Advice & Wealth Management, Asset Management, Retirement & Protection Solutions, and Corporate & Other.

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