Does Ameriprise Financial Inc. (NYSE:AMP) warrant a purchase right now? What to Consider Before Making a Decision

The stock of Ameriprise Financial Inc. (NYSE:AMP) last traded at $336.97, down -0.08% from the previous session.

Data from the available sources indicates that Ameriprise Financial Inc. (NYSE:AMP) is covered by 15 analysts. The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $430.00 and a low of $330.00, we find $394.00. Given the previous closing price of $337.23, this indicates a potential upside of 16.83 percent. AMP stock price is now 0.33% away from the 50-day moving average and 15.36% away from the 200-day moving average. The market capitalization of the company currently stands at $35.06B.

In total, 4 analysts have assigned it a hold rating, and 9 have given it a buy rating. Brokers who have rated the stock have averaged $381.27 as their price target over the next twelve months.

With the price target maintained at $325, Keefe Bruyette recently Downgraded its rating from Outperform to Mkt Perform for Ameriprise Financial Inc. (NYSE: AMP). On September 07, 2022, BofA Securities recently initiated its ‘Buy’ rating on the stock quoting a target price of $336, while ‘Goldman’ rates the stock as ‘Neutral’.

In other news, Berman Walter Stanley, EXECUTIVE VP AND CFO sold 10,000 shares of the company’s stock on Feb 15. The stock was sold for $3,520,683 at an average price of $352.07. Upon completion of the transaction, the EXECUTIVE VP AND CFO now directly owns 14,360 shares in the company, valued at $4.84 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Feb 14, PRES-AWM PRODUCTS & SERVICES Sweeney Joseph Edward sold 6,390 shares of the business’s stock. A total of $2,238,736 was realized by selling the stock at an average price of $350.35. This leaves the insider owning 10,955 shares of the company worth $3.69 million. Insiders disposed of 342,541 shares of company stock worth roughly $115.43 million over the past 1 year. A total of 0.20% of the company’s stock is owned by insiders.

There have been several recent changes in the stakes of large investors in AMP stock. A new stake in Ameriprise Financial Inc. shares was purchased by AGF MANAGEMENT LTD during the first quarter worth $123,736,000. BALYASNY ASSET MANAGEMENT LLC invested $89,459,000 in shares of AMP during the first quarter. In the first quarter, MORAN WEALTH MANAGEMENT, LLC acquired a new stake in Ameriprise Financial Inc. valued at approximately $19,726,000. APPLIED FINANCE CAPITAL MANAGEMENT, LLC acquired a new stake in AMP for approximately $16,323,000. BROOKFIELD CORP /ON/ purchased a new stake in AMP valued at around $13,272,000 in the second quarter. In total, there are 1,349 active investors with 85.20% ownership of the company’s stock.

With an opening price of $337.99 on Wednesday morning, Ameriprise Financial Inc. (NYSE: AMP) set off the trading day. During the past 12 months, Ameriprise Financial Inc. has had a low of $219.99 and a high of $357.46. The fifty day moving average price for AMP is $336.44 and a two-hundred day moving average price translates $292.53 for the stock.

The latest earnings results from Ameriprise Financial Inc. (NYSE: AMP) was released for Dec, 2022. According to the Asset Management Company, earnings per share came in at $6.94, beating analysts’ expectations of $6.48 by 0.46. This compares to $5.89 EPS in the same period last year. The net profit margin was 17.80% and return on equity was 63.20% for AMP. The company reported revenue of $3.62 billion for the quarter, compared to $3.76 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -3.8 percent. For the current quarter, analysts expect AMP to generate $3.68B in revenue.

Moreover, the firm recently paid out its quarterly dividend on 02/28/2023. Investors who held shares on 02/10/2023 were paid a $1.25 dividend. On an annualized basis, this represents a $5.00 dividend and a 1.48% percent yield. There was an ex-dividend date of 02/09/2023 for this dividend. In terms of dividend payout ratio, AMP is presently at 21.30%.

Ameriprise Financial Inc.(AMP) 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 four segments: Advice & Wealth Management, Asset Management, Retirement & Protection Solutions, and Corporate & Other. The Advice & Wealth Management segment provides financial planning and advice; brokerage products and services for retail and institutional clients; discretionary and non-discretionary investment advisory accounts; mutual funds; insurance and annuities products; cash management and banking products; and face-amount certificates. The Asset Management segment offers investment management and advice, and investment products to retail, high net worth, and institutional clients through unaffiliated third-party financial institutions and institutional sales force. This segment products also include U.S. mutual funds and their non-U.S. equivalents, exchange-traded funds, variable product funds underlying insurance, and annuity separate accounts; and institutional asset management products, such as traditional asset classes, separately managed accounts, individually managed accounts, collateralized loan obligations, hedge funds, collective funds, and property and infrastructure funds. The Retirement & Protection Solutions segment provides variable annuity products to individual clients, as well as life and DI insurance products to retail clients. The company was formerly known as American Express Financial Corporation and changed its name to Ameriprise Financial, Inc. in September 2005. Ameriprise Financial, Inc. was founded in 1894 and is headquartered in Minneapolis, Minnesota.