Ameriprise Financial, Inc. (NYSE:AMP) Receives Consensus Rating of “Hold” from Brokerages

Core Insights - Ameriprise Financial, Inc. has received a consensus rating of "Hold" from eleven research firms, with varying recommendations including two sell, five hold, three buy, and one strong buy [2] - The average twelve-month price target among analysts is $533.22 [2] Analyst Ratings - Morgan Stanley reduced its price target from $530.00 to $484.00 and assigned an "underweight" rating [3] - Weiss Ratings maintained a "buy (b)" rating [3] - Keefe, Bruyette & Woods lowered their target price from $550.00 to $530.00 with a "market perform" rating [3] - Royal Bank of Canada cut its price target from $601.00 to $550.00 while maintaining an "outperform" rating [3] - BMO Capital Markets initiated coverage with a "market perform" rating and a price target of $525.00 [3] Stock Performance - Ameriprise Financial stock opened at $447.55, with a 52-week low of $396.14 and a high of $582.05 [4] - The stock has a market capitalization of $41.58 billion, a price-to-earnings ratio of 13.92, and a PEG ratio of 1.07 [4] Earnings Results - For the quarter ending October 30th, Ameriprise reported earnings per share (EPS) of $9.92, exceeding the consensus estimate of $9.76 by $0.16 [5] - The company achieved a return on equity of 65.90% and a net margin of 18.30% [5] - Revenue for the quarter was $4.73 billion, surpassing analyst estimates of $4.51 billion, and reflecting a 9.0% increase compared to the same quarter last year [5] - Analysts project an EPS of 38.64 for the current fiscal year [5] Dividend Announcement - Ameriprise Financial declared a quarterly dividend of $1.60, payable on November 24th, with an annualized dividend of $6.40 and a yield of 1.4% [6] - The company's payout ratio is currently 17.55% [6] Insider Transactions - EVP Heather J. Melloh sold 1,500 shares at an average price of $512.34, totaling $768,510, which represents a 36.93% decrease in her position [7] - Corporate insiders own 0.73% of the company's stock [7] Institutional Investor Activity - Trust Co. of Vermont increased its stake by 0.6%, now owning 3,031 shares valued at $1.618 million [8] - Plancorp LLC raised its position by 4.8%, owning 441 shares worth $213,000 [8] - Old Port Advisors and Linden Thomas Advisory Services LLC also increased their holdings by 1.5% and 0.5%, respectively [9] - Institutional investors collectively own 83.95% of the company's stock [9] Company Overview - Ameriprise Financial provides various financial products and services to individual and institutional clients, operating through four segments: Advice & Wealth Management, Asset Management, Retirement & Protection Solutions, and Corporate & Other [10]