Jefferies Financial Group Increases Ameriprise Financial (NYSE:AMP) Price Target to $504.00

Ameriprise Financial (NYSE:AMP) had its price target increased by analysts at Jefferies Financial Group from $500.00 to $504.00 in a research note issued on Friday, Benzinga reports. The firm presently has a “buy” rating on the financial services provider’s stock. Jefferies Financial Group’s price target would indicate a potential upside of 17.98% from the company’s current price.

A number of other brokerages have also commented on AMP. Argus boosted their price objective on shares of Ameriprise Financial from $440.00 to $460.00 and gave the stock a “buy” rating in a report on Monday, May 6th. The Goldman Sachs Group upped their target price on shares of Ameriprise Financial from $437.00 to $488.00 and gave the company a “buy” rating in a research note on Wednesday, March 27th. Royal Bank of Canada upped their target price on shares of Ameriprise Financial from $470.00 to $480.00 and gave the company an “outperform” rating in a research note on Wednesday, April 24th. Piper Sandler cut their target price on shares of Ameriprise Financial from $390.00 to $387.00 and set an “underweight” rating on the stock in a research note on Friday. Finally, Keefe, Bruyette & Woods upped their target price on shares of Ameriprise Financial from $420.00 to $460.00 and gave the company a “market perform” rating in a research note on Wednesday, April 10th. One analyst has rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $456.22.

Ameriprise Financial Stock Performance

Shares of AMP stock opened at $427.19 on Friday. Ameriprise Financial has a 12 month low of $306.63 and a 12 month high of $446.32. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.56 and a quick ratio of 0.56. The firm has a market capitalization of $42.43 billion, a P/E ratio of 14.54, a P/E/G ratio of 0.73 and a beta of 1.36. The company’s fifty day moving average price is $428.66 and its two-hundred day moving average price is $410.60.

Ameriprise Financial (NYSE:AMP) last issued its quarterly earnings data on Wednesday, April 24th. The financial services provider reported $8.39 EPS for the quarter, topping analysts’ consensus estimates of $8.10 by $0.29. Ameriprise Financial had a net margin of 19.42% and a return on equity of 75.97%. The firm had revenue of $4.15 billion for the quarter, compared to analyst estimates of $4.15 billion. During the same quarter in the previous year, the business posted $7.25 EPS. The firm’s revenue was up 10.8% compared to the same quarter last year. On average, research analysts anticipate that Ameriprise Financial will post 34.95 earnings per share for the current fiscal year.

Insider Activity at Ameriprise Financial

In related news, Director Robert Francis Sharpe, Jr. sold 1,500 shares of the business’s stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $438.07, for a total transaction of $657,105.00. Following the completion of the sale, the director now owns 11,000 shares of the company’s stock, valued at approximately $4,818,770. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.73% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Signaturefd LLC grew its position in Ameriprise Financial by 1.1% in the 1st quarter. Signaturefd LLC now owns 2,296 shares of the financial services provider’s stock worth $1,007,000 after purchasing an additional 26 shares during the last quarter. Aua Capital Management LLC grew its position in Ameriprise Financial by 4.7% in the 1st quarter. Aua Capital Management LLC now owns 604 shares of the financial services provider’s stock worth $265,000 after purchasing an additional 27 shares during the last quarter. Gratus Wealth Advisors LLC grew its position in Ameriprise Financial by 1.5% in the 1st quarter. Gratus Wealth Advisors LLC now owns 1,887 shares of the financial services provider’s stock worth $779,000 after purchasing an additional 27 shares during the last quarter. Resonant Capital Advisors LLC boosted its holdings in shares of Ameriprise Financial by 4.7% in the first quarter. Resonant Capital Advisors LLC now owns 619 shares of the financial services provider’s stock valued at $271,000 after acquiring an additional 28 shares in the last quarter. Finally, PDS Planning Inc boosted its holdings in shares of Ameriprise Financial by 3.7% in the first quarter. PDS Planning Inc now owns 775 shares of the financial services provider’s stock valued at $340,000 after acquiring an additional 28 shares in the last quarter. Institutional investors own 83.95% of the company’s stock.

Ameriprise Financial Company Profile

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.