Ameriprise Financial (NYSE:AMP) Price Target Raised to $471.00

Key Points

• Piper Sandler raised its price target on Ameriprise Financial to $471 from $460 and maintained a "neutral" rating, implying roughly a 1.32% upside from the current stock price.
• Analysts are split overall: the consensus is a Hold with an average price target of $543.22, while individual targets range from Morgan Stanley's underweight/≈$467 to RBC's $605 outperform and Raymond James' $582 strong-buy.
• Ameriprise beat quarterly EPS estimates ($11.26 vs. $10.21) with revenue up 9.7% year-over-year but slightly under consensus, and insiders sold about 16,658 shares (~$9M) last quarter, including a CFO sale.

Ameriprise Financial (NYSE:AMP - Get Free Report) had its target price upped by research analysts at Piper Sandler from $460.00 to $471.00 in a note issued to investors on Monday,Benzinga reports. The brokerage currently has a "neutral" rating on the financial services provider's stock. Piper Sandler's price objective would indicate a potential upside of 1.32% from the stock's current price.

A number of other research analysts have also recently issued reports on AMP. BMO Capital Markets boosted their price objective on shares of Ameriprise Financial from $470.00 to $490.00 and gave the company a "market perform" rating in a report on Friday, April 24th. Royal Bank Of Canada restated an "outperform" rating and issued a $605.00 price target (up from $580.00) on shares of Ameriprise Financial in a report on Monday, February 2nd. Raymond James Financial set a $582.00 price objective on Ameriprise Financial and gave the company a "strong-buy" rating in a report on Wednesday, February 11th. Keefe, Bruyette & Woods began coverage on shares of Ameriprise Financial in a research report on Friday, April 10th. They set a "hold" rating for the company. Finally, Morgan Stanley boosted their price objective on shares of Ameriprise Financial from $452.00 to $467.00 and gave the company an "underweight" rating in a research report on Thursday. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, Ameriprise Financial has a consensus rating of "Hold" and an average price target of $543.22.

Ameriprise Financial Trading Down 0.1%

AMP opened at $464.86 on Monday. Ameriprise Financial has a fifty-two week low of $422.37 and a fifty-two week high of $550.18. The company has a market cap of $42.39 billion, a price-to-earnings ratio of 11.52, a price-to-earnings-growth ratio of 1.12 and a beta of 1.20. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.66 and a quick ratio of 0.68. The firm has a 50 day simple moving average of $454.79 and a 200 day simple moving average of $474.05.

Ameriprise Financial (NYSE:AMP - Get Free Report) last released its quarterly earnings data on Thursday, April 23rd. The financial services provider reported $11.26 EPS for the quarter, beating analysts' consensus estimates of $10.21 by $1.05. The business had revenue of $4.77 billion during the quarter, compared to the consensus estimate of $4.82 billion. Ameriprise Financial had a return on equity of 62.88% and a net margin of 20.57%.The firm's revenue was up 9.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $9.50 earnings per share. On average, sell-side analysts anticipate that Ameriprise Financial will post 41.87 earnings per share for the current year.

Insider Activity

In related news, CFO Walter Stanley Berman sold 7,000 shares of Ameriprise Financial stock in a transaction that occurred on Thursday, February 5th. The stock was sold at an average price of $544.22, for a total value of $3,809,540.00. Following the transaction, the chief financial officer directly owned 5,609 shares of the company's stock, valued at $3,052,529.98. The trade was a 55.52% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Gumer Alvero sold 4,658 shares of Ameriprise Financial stock in a transaction dated Monday, February 9th. The stock was sold at an average price of $542.88, for a total value of $2,528,735.04. Following the completion of the transaction, the insider directly owned 4,621 shares of the company's stock, valued at approximately $2,508,648.48. This trade represents a 50.20% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 16,658 shares of company stock valued at $8,998,675. Company insiders own 0.60% of the company's stock.

Institutional Investors Weigh In On Ameriprise Financial

Large investors have recently modified their holdings of the stock. Brighton Jones LLC increased its position in Ameriprise Financial by 6.9% in the fourth quarter. Brighton Jones LLC now owns 777 shares of the financial services provider's stock worth $413,000 after buying an additional 50 shares during the last quarter. Empowered Funds LLC increased its position in shares of Ameriprise Financial by 11.8% during the first quarter. Empowered Funds LLC now owns 6,022 shares of the financial services provider's stock valued at $2,915,000 after buying an additional 634 shares during the period. Sivia Capital Partners LLC increased its holdings in shares of Ameriprise Financial by 14.1% in the 2nd quarter. Sivia Capital Partners LLC now owns 584 shares of the financial services provider's stock worth $312,000 after buying an additional 72 shares during the last quarter. Schnieders Capital Management LLC. purchased a new stake in shares of Ameriprise Financial during the 2nd quarter valued at $313,000. Finally, Gabelli Funds LLC boosted its holdings in shares of Ameriprise Financial by 224.8% in the 2nd quarter. Gabelli Funds LLC now owns 4,222 shares of the financial services provider's stock worth $2,253,000 after purchasing an additional 2,922 shares in the last quarter. Hedge funds and other institutional investors own 83.95% of the company's stock.

Ameriprise Financial Company Profile

Ameriprise Financial, Inc is a diversified financial services company headquartered in Minneapolis, Minnesota. The firm provides a range of advice-based wealth management, asset management and insurance products to individual and institutional clients. Its business model centers on delivering financial planning and investment advice through a network of financial advisors alongside proprietary product offerings designed to meet retirement, protection and accumulation needs.

Core products and services include comprehensive financial planning and advisory services, managed investment portfolios, retirement planning solutions, annuities and life insurance products.

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