Ameriprise Financial (NYSE:AMP) Receives “Outperform” Rating from Royal Bank of Canada

Ameriprise Financial (NYSE:AMP)‘s stock had its “outperform” rating reissued by Royal Bank of Canada in a research report issued on Monday,Benzinga reports. They currently have a $625.00 price objective on the financial services provider’s stock. Royal Bank of Canada’s target price suggests a potential upside of 9.28% from the company’s previous close.

Other equities analysts also recently issued reports about the company. Keefe, Bruyette & Woods lowered their target price on Ameriprise Financial from $565.00 to $560.00 and set a “market perform” rating on the stock in a research report on Friday, January 10th. Morgan Stanley lifted their price objective on Ameriprise Financial from $440.00 to $502.00 and gave the company an “equal weight” rating in a research report on Thursday, October 17th. Finally, UBS Group cut shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $580.00 to $570.00 in a research note on Monday, January 6th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $503.22.

Ameriprise Financial Stock Up 1.9 %

AMP opened at $571.93 on Monday. The firm’s 50 day simple moving average is $548.14 and its two-hundred day simple moving average is $495.06. The company has a market capitalization of $55.48 billion, a PE ratio of 21.96, a PEG ratio of 0.85 and a beta of 1.36. Ameriprise Financial has a 1-year low of $378.05 and a 1-year high of $577.00. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.99.

Insider Buying and Selling at Ameriprise Financial

In related news, insider Joseph Edward Sweeney sold 10,735 shares of the stock in a transaction on Friday, November 8th. The stock was sold at an average price of $549.68, for a total transaction of $5,900,814.80. Following the sale, the insider now owns 5,811 shares in the company, valued at approximately $3,194,190.48. This represents a 64.88 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Gumer Alvero sold 2,325 shares of the firm’s stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $516.05, for a total transaction of $1,199,816.25. Following the completion of the sale, the insider now owns 4,669 shares of the company’s stock, valued at $2,409,437.45. This trade represents a 33.24 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 21,715 shares of company stock worth $11,983,436 over the last 90 days. 0.73% of the stock is owned by insiders.

Institutional Investors Weigh In On Ameriprise Financial

Institutional investors and hedge funds have recently modified their holdings of the business. JPMorgan Chase & Co. increased its stake in Ameriprise Financial by 9.1% in the third quarter. JPMorgan Chase & Co. now owns 4,285,476 shares of the financial services provider’s stock worth $2,013,359,000 after purchasing an additional 358,699 shares during the period. Geode Capital Management LLC grew its holdings in shares of Ameriprise Financial by 1.2% in the third quarter. Geode Capital Management LLC now owns 2,609,486 shares of the financial services provider’s stock worth $1,222,943,000 after purchasing an additional 31,158 shares during the last quarter. Robeco Institutional Asset Management B.V. grew its holdings in shares of Ameriprise Financial by 429.0% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 417,149 shares of the financial services provider’s stock worth $222,103,000 after purchasing an additional 338,298 shares during the last quarter. Maj Invest Holding A S lifted its holdings in Ameriprise Financial by 67.5% during the 4th quarter. Maj Invest Holding A S now owns 352,095 shares of the financial services provider’s stock valued at $187,466,000 after buying an additional 141,927 shares in the last quarter. Finally, Victory Capital Management Inc. boosted its position in Ameriprise Financial by 3.8% in the 3rd quarter. Victory Capital Management Inc. now owns 248,192 shares of the financial services provider’s stock valued at $116,603,000 after buying an additional 8,989 shares during the period. 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.