BMO Capital Markets Issues Positive Forecast for Ameriprise Financial (NYSE:AMP) Stock Price

Ameriprise Financial (NYSE:AMPGet Free Report) had its price target raised by analysts at BMO Capital Markets from $470.00 to $490.00 in a note issued to investors on Friday,Benzinga reports. The brokerage currently has a “market perform” rating on the financial services provider’s stock. BMO Capital Markets’ price objective would suggest a potential upside of 8.21% from the company’s previous close.

Several other brokerages also recently issued reports on AMP. Weiss Ratings restated a “buy (b-)” rating on shares of Ameriprise Financial in a report on Monday, December 29th. Jefferies Financial Group increased their price target on Ameriprise Financial from $600.00 to $620.00 and gave the stock a “buy” rating in a report on Monday, February 2nd. Royal Bank Of Canada restated an “outperform” rating and issued a $605.00 price target (up from $580.00) on shares of Ameriprise Financial in a report on Monday, February 2nd. Piper Sandler lowered their price target on Ameriprise Financial from $530.00 to $460.00 and set a “hold” rating for the company in a report on Tuesday, April 7th. Finally, Keefe, Bruyette & Woods started coverage on Ameriprise Financial in a report on Friday, April 10th. They issued a “hold” rating for the company. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Ameriprise Financial presently has an average rating of “Hold” and an average target price of $540.33.

Get Our Latest Analysis on Ameriprise Financial

Ameriprise Financial Trading Down 1.5%

NYSE AMP traded down $6.79 on Friday, reaching $452.84. The company had a trading volume of 212,092 shares, compared to its average volume of 682,807. The stock’s 50 day moving average is $454.74 and its 200-day moving average is $474.78. The stock has a market cap of $41.29 billion, a price-to-earnings ratio of 12.50, a PEG ratio of 1.15 and a beta of 1.27. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 0.86. Ameriprise Financial has a 52 week low of $422.37 and a 52 week high of $550.18.

Ameriprise Financial (NYSE:AMPGet Free Report) last released its quarterly earnings data on Thursday, April 23rd. The financial services provider reported $11.26 EPS for the quarter, beating analysts’ consensus estimates of $10.21 by $1.05. Ameriprise Financial had a return on equity of 63.04% and a net margin of 19.28%.The business had revenue of $4.77 billion during the quarter, compared to the consensus estimate of $4.82 billion. During the same quarter in the prior year, the company posted $9.50 earnings per share. The firm’s revenue was up 9.7% on a year-over-year basis. Equities analysts predict that Ameriprise Financial will post 41.06 earnings per share for the current year.

Insider Activity at Ameriprise Financial

In related news, insider Gumer Alvero sold 4,658 shares of the stock in a transaction that occurred on Monday, February 9th. The stock was sold at an average price of $542.88, for a total transaction of $2,528,735.04. Following the completion of the transaction, the insider directly owned 4,621 shares of the company’s stock, valued at approximately $2,508,648.48. This represents a 50.20% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Walter Stanley Berman sold 7,000 shares of the stock in a transaction that occurred on Thursday, February 5th. The shares were sold at an average price of $544.22, for a total value of $3,809,540.00. Following the transaction, the chief financial officer directly owned 5,609 shares of the company’s stock, valued at $3,052,529.98. This trade represents a 55.52% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 16,658 shares of company stock valued at $8,998,675. Insiders own 0.60% of the company’s stock.

Institutional Trading of Ameriprise Financial

Hedge funds have recently made changes to their positions in the business. SouthState Bank Corp lifted its position in shares of Ameriprise Financial by 78.6% in the fourth quarter. SouthState Bank Corp now owns 50 shares of the financial services provider’s stock valued at $25,000 after buying an additional 22 shares during the last quarter. Holos Integrated Wealth LLC acquired a new stake in shares of Ameriprise Financial in the fourth quarter valued at approximately $30,000. Redmont Wealth Advisors LLC acquired a new stake in shares of Ameriprise Financial in the third quarter valued at approximately $32,000. Ares Financial Consulting LLC acquired a new stake in shares of Ameriprise Financial in the fourth quarter valued at approximately $32,000. Finally, Prosperity Bancshares Inc acquired a new stake in shares of Ameriprise Financial in the fourth quarter valued at approximately $33,000. 83.95% of the stock is owned by institutional investors and hedge funds.

Ameriprise Financial News Roundup

Here are the key news stories impacting Ameriprise Financial this week:

About Ameriprise Financial

(Get Free Report)

Ameriprise Financial, Inc is a diversified financial services company headquartered in Minneapolis, Minnesota. The firm provides a range of advice-based wealth management, asset management and insurance products to individual and institutional clients. Its business model centers on delivering financial planning and investment advice through a network of financial advisors alongside proprietary product offerings designed to meet retirement, protection and accumulation needs.

Core products and services include comprehensive financial planning and advisory services, managed investment portfolios, retirement planning solutions, annuities and life insurance products.

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Analyst Recommendations for Ameriprise Financial (NYSE:AMP)

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