Ameriprise Financial (NYSE:AMP) PT Raised to $535.00 at Royal Bank of Canada

Ameriprise Financial (NYSE:AMP) had its target price hoisted by equities researchers at Royal Bank of Canada from $500.00 to $535.00 in a research note issued on Friday, Benzinga reports. The brokerage currently has an “outperform” rating on the financial services provider’s stock. Royal Bank of Canada’s price objective points to a potential upside of 6.47% from the company’s current price.

Other equities analysts have also recently issued research reports about the company. Piper Sandler cut their price target on Ameriprise Financial from $390.00 to $387.00 and set an “underweight” rating for the company in a report on Friday, June 28th. Jefferies Financial Group raised their target price on shares of Ameriprise Financial from $500.00 to $504.00 and gave the company a “buy” rating in a report on Friday, June 28th. The Goldman Sachs Group cut shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $485.00 to $476.00 in a research report on Thursday, September 26th. UBS Group increased their price objective on shares of Ameriprise Financial from $490.00 to $555.00 and gave the company a “buy” rating in a research report on Tuesday, October 8th. Finally, Keefe, Bruyette & Woods reduced their target price on shares of Ameriprise Financial from $470.00 to $460.00 and set a “market perform” rating on the stock in a report on Tuesday, July 30th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $473.56.

Ameriprise Financial Price Performance

AMP stock opened at $502.50 on Friday. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.59 and a current ratio of 0.59. The company’s fifty day moving average price is $445.74 and its 200-day moving average price is $434.45. Ameriprise Financial has a one year low of $306.63 and a one year high of $502.97. The company has a market capitalization of $49.34 billion, a PE ratio of 17.21, a price-to-earnings-growth ratio of 0.81 and a beta of 1.35.

Ameriprise Financial (NYSE:AMP) last announced its quarterly earnings results on Wednesday, July 24th. The financial services provider reported $8.72 EPS for the quarter, topping the consensus estimate of $8.53 by $0.19. The business had revenue of $4.39 billion for the quarter, compared to analysts’ expectations of $4.24 billion. Ameriprise Financial had a net margin of 18.64% and a return on equity of 73.83%. The business’s quarterly revenue was up 9.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $7.44 EPS. On average, equities analysts anticipate that Ameriprise Financial will post 34.92 EPS for the current fiscal year.

Insider Buying and Selling at Ameriprise Financial

In related news, VP William Davies sold 8,700 shares of the firm’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $442.07, for a total transaction of $3,846,009.00. Following the completion of the sale, the vice president now directly owns 13,199 shares of the company’s stock, valued at approximately $5,834,881.93. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.73% of the company’s stock.

Institutional Trading of Ameriprise Financial

Hedge funds and other institutional investors have recently bought and sold shares of the business. Wellington Wealth Strategies LLC. purchased a new position in Ameriprise Financial in the 4th quarter worth about $262,000. V Square Quantitative Management LLC boosted its holdings in shares of Ameriprise Financial by 152.8% in the fourth quarter. V Square Quantitative Management LLC now owns 3,914 shares of the financial services provider’s stock valued at $1,487,000 after purchasing an additional 2,366 shares during the period. Scarborough Advisors LLC bought a new position in Ameriprise Financial in the fourth quarter worth approximately $1,099,000. Beacon Financial Group increased its holdings in Ameriprise Financial by 38.9% during the 4th quarter. Beacon Financial Group now owns 1,381 shares of the financial services provider’s stock worth $525,000 after purchasing an additional 387 shares during the period. Finally, Syon Capital LLC raised its position in Ameriprise Financial by 5.3% during the 4th quarter. Syon Capital LLC now owns 1,783 shares of the financial services provider’s stock valued at $677,000 after purchasing an additional 90 shares in the last quarter. Hedge funds and other institutional investors own 83.95% of the company’s stock.

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.