Royal Bank of Canada Raises Ameriprise Financial (NYSE:AMP) Price Target to $480.00

Ameriprise Financial (NYSE:AMP) had its price objective hoisted by investment analysts at Royal Bank of Canada from $470.00 to $480.00 in a research report issued on Wednesday, Benzinga reports. The firm presently has an “outperform” rating on the financial services provider’s stock. Royal Bank of Canada’s price target would suggest a potential upside of 16.98% from the company’s current price.

Other equities analysts have also recently issued research reports about the stock. Evercore ISI increased their price objective on shares of Ameriprise Financial from $400.00 to $445.00 and gave the stock an “in-line” rating in a research report on Thursday, April 11th. Piper Sandler raised their price target on shares of Ameriprise Financial from $360.00 to $392.00 and gave the company an “underweight” rating in a research report on Friday, April 5th. UBS Group raised their price target on shares of Ameriprise Financial from $440.00 to $445.00 and gave the company a “buy” rating in a research report on Thursday, January 25th. Keefe, Bruyette & Woods raised their price target on shares of Ameriprise Financial from $420.00 to $460.00 and gave the company a “market perform” rating in a research report on Wednesday, April 10th. Finally, The Goldman Sachs Group lifted their target price on shares of Ameriprise Financial from $437.00 to $488.00 and gave the stock a “buy” rating in a research report on Wednesday, March 27th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $449.57.

Ameriprise Financial Stock Up 0.6 %

Shares of AMP stock traded up $2.63 on Wednesday, reaching $410.32. 298,947 shares of the company were exchanged, compared to its average volume of 497,638. The company has a market cap of $41.11 billion, a price-to-earnings ratio of 13.99, a PEG ratio of 0.69 and a beta of 1.36. The company has a 50-day moving average of $417.72 and a 200-day moving average of $379.75. The company has a debt-to-equity ratio of 1.17, a current ratio of 0.56 and a quick ratio of 0.56. Ameriprise Financial has a one year low of $279.85 and a one year high of $440.67.

Ameriprise Financial (NYSE:AMP) last released its quarterly earnings data on Tuesday, April 23rd. The financial services provider reported $8.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $8.10 by $0.29. The company had revenue of $4.15 billion for the quarter, compared to analysts’ expectations of $4.15 billion. Ameriprise Financial had a net margin of 19.42% and a return on equity of 78.98%. The business’s revenue was up 10.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $7.25 EPS. Analysts anticipate that Ameriprise Financial will post 34.43 earnings per share for the current year.

Insider Buying and Selling at Ameriprise Financial

In other Ameriprise Financial news, CEO William F. Truscott sold 9,689 shares of the firm’s stock in a transaction on Friday, January 26th. The shares were sold at an average price of $390.22, for a total value of $3,780,841.58. Following the completion of the transaction, the chief executive officer now directly owns 12,126 shares of the company’s stock, valued at approximately $4,731,807.72. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, Director Robert Francis Sharpe, Jr. sold 4,000 shares of Ameriprise Financial stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $386.60, for a total transaction of $1,546,400.00. Following the completion of the sale, the director now directly owns 12,500 shares of the company’s stock, valued at approximately $4,832,500. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO William F. Truscott sold 9,689 shares of Ameriprise Financial stock in a transaction on Friday, January 26th. The stock was sold at an average price of $390.22, for a total transaction of $3,780,841.58. Following the sale, the chief executive officer now directly owns 12,126 shares of the company’s stock, valued at $4,731,807.72. The disclosure for this sale can be found here. Insiders sold a total of 89,161 shares of company stock valued at $35,560,647 in the last three months. Company insiders own 0.96% of the company’s stock.

Institutional Trading of Ameriprise Financial

A number of hedge funds have recently made changes to their positions in AMP. Norges Bank bought a new stake in Ameriprise Financial in the fourth quarter worth $514,539,000. Dimensional Fund Advisors LP lifted its stake in Ameriprise Financial by 3.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,015,225 shares of the financial services provider’s stock worth $385,620,000 after purchasing an additional 35,931 shares during the last quarter. Royal Bank of Canada lifted its stake in Ameriprise Financial by 2.4% in the third quarter. Royal Bank of Canada now owns 894,744 shares of the financial services provider’s stock worth $294,979,000 after purchasing an additional 20,970 shares during the last quarter. Invesco Ltd. lifted its stake in Ameriprise Financial by 13.4% in the third quarter. Invesco Ltd. now owns 672,823 shares of the financial services provider’s stock worth $221,816,000 after purchasing an additional 79,611 shares during the last quarter. Finally, Envestnet Asset Management Inc. lifted its stake in Ameriprise Financial by 5.2% in the fourth quarter. Envestnet Asset Management Inc. now owns 652,360 shares of the financial services provider’s stock worth $247,786,000 after purchasing an additional 32,312 shares during the last quarter. 83.95% of the stock is owned by institutional investors.

About Ameriprise Financial

Ameriprise Financial, Inc, together with 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.