Ameriprise Financial (NYSE:AMP) Stock Price Expected to Rise, Keefe, Bruyette & Woods Analyst Says

Ameriprise Financial (NYSE:AMP) had its price objective upped by equities research analysts at Keefe, Bruyette & Woods from $560.00 to $570.00 in a note issued to investors on Monday,Benzinga reports. The firm currently has a “market perform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ price target suggests a potential upside of 6.38% from the stock’s current price.

Several other equities analysts have also issued reports on the company. Royal Bank of Canada restated an “outperform” rating and set a $625.00 price target on shares of Ameriprise Financial in a research report on Monday, January 27th. Morgan Stanley raised their target price on shares of Ameriprise Financial from $440.00 to $502.00 and gave the stock an “equal weight” rating in a report on Thursday, October 17th. UBS Group lowered shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and lowered their price target for the company from $580.00 to $570.00 in a report on Monday, January 6th. Finally, Piper Sandler raised their price target on shares of Ameriprise Financial from $415.00 to $442.00 and gave the stock an “underweight” rating in a report on Friday, January 31st. One investment analyst has rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $510.44.

Ameriprise Financial Trading Down 0.2 %

Shares of AMP opened at $535.83 on Monday. Ameriprise Financial has a fifty-two week low of $385.56 and a fifty-two week high of $582.05. The firm has a market cap of $51.98 billion, a price-to-earnings ratio of 16.21, a PEG ratio of 1.18 and a beta of 1.36. The firm has a 50 day moving average price of $546.89 and a 200-day moving average price of $499.39. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.65 and a current ratio of 0.59.

Ameriprise Financial (NYSE:AMP) last posted its quarterly earnings results on Wednesday, January 29th. The financial services provider reported $9.36 earnings per share for the quarter, topping the consensus estimate of $9.16 by $0.20. Ameriprise Financial had a net margin of 19.70% and a return on equity of 69.35%. As a group, equities research analysts forecast that Ameriprise Financial will post 38.68 earnings per share for the current year.

Insiders Place Their Bets

In other Ameriprise Financial news, CFO Walter Stanley Berman sold 8,655 shares of the firm’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $564.16, for a total transaction of $4,882,804.80. Following the completion of the transaction, the chief financial officer now owns 6,409 shares of the company’s stock, valued at approximately $3,615,701.44. This trade represents a 57.45 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Joseph Edward Sweeney sold 10,735 shares of the stock in a transaction dated 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 completion of the transaction, the insider now owns 5,811 shares of the company’s stock, valued at approximately $3,194,190.48. The trade was a 64.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.96% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Ameriprise Financial

Several institutional investors and hedge funds have recently modified their holdings of the stock. Wingate Wealth Advisors Inc. bought a new stake in Ameriprise Financial during the 4th quarter valued at about $30,000. Oakworth Capital Inc. purchased a new stake in shares of Ameriprise Financial during the third quarter valued at approximately $31,000. Country Trust Bank increased its position in shares of Ameriprise Financial by 213.6% during the third quarter. Country Trust Bank now owns 69 shares of the financial services provider’s stock valued at $32,000 after acquiring an additional 47 shares in the last quarter. Sound Income Strategies LLC purchased a new position in Ameriprise Financial in the 4th quarter worth approximately $36,000. Finally, Golden State Wealth Management LLC bought a new position in Ameriprise Financial in the 4th quarter valued at approximately $38,000. 83.95% of the stock is currently 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.