Ameriprise Financial (NYSE:AMP) Price Target Raised to $545.00 at Keefe, Bruyette & Woods

Key Points

• Keefe, Bruyette & Woods raised its price target on Ameriprise Financial to $545 from $515, while keeping a market perform rating. The new target suggests modest upside from the prior close.
• Ameriprise posted stronger-than-expected Q2 results, with EPS of $11.07 and revenue of $4.90 billion both beating analyst estimates. Revenue rose 11.6% year over year, helped by higher fee income and market gains.
• Analyst sentiment remains mixed overall: the stock’s consensus rating is Hold, with a consensus price target of $555.33. Shares were trading near $525.65, below the 12-month high of $550.18.

Ameriprise Financial (NYSE:AMP - Get Free Report) had its price objective lifted by Keefe, Bruyette & Woods from $515.00 to $545.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage presently has a "market perform" rating on the financial services provider's stock. Keefe, Bruyette & Woods' target price would indicate a potential upside of 3.68% from the company's previous close.

A number of other research firms have also recently issued reports on AMP. BMO Capital Markets upped their price objective on Ameriprise Financial from $470.00 to $490.00 and gave the stock a "market perform" rating in a report on Friday, April 24th. Weiss Ratings upgraded Ameriprise Financial from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Friday, July 17th. Morgan Stanley lifted their price target on shares of Ameriprise Financial from $467.00 to $489.00 and gave the stock an "underweight" rating in a research note on Friday, July 10th. Piper Sandler upped their price objective on shares of Ameriprise Financial from $471.00 to $518.00 and gave the company a "neutral" rating in a research note on Monday, July 13th. Finally, Jefferies Financial Group lifted their target price on shares of Ameriprise Financial from $636.00 to $645.00 and gave the stock a "buy" rating in a research report on Friday, July 10th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $555.33.

Ameriprise Financial Price Performance

Shares of Ameriprise Financial stock traded up $5.54 on Friday, hitting $525.65. 137,619 shares of the company traded hands, compared to its average volume of 686,496. Ameriprise Financial has a 12-month low of $422.37 and a 12-month high of $550.18. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 0.90. The company has a market cap of $47.26 billion, a P/E ratio of 13.08, a P/E/G ratio of 0.94 and a beta of 1.16. The firm's 50-day simple moving average is $475.03 and its 200 day simple moving average is $474.65.

Ameriprise Financial (NYSE:AMP - Get Free Report) last announced its earnings results on Thursday, July 23rd. The financial services provider reported $11.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $10.81 by $0.26. The company had revenue of $4.90 billion during the quarter, compared to analyst estimates of $4.87 billion. Ameriprise Financial had a net margin of 20.57% and a return on equity of 62.88%. The firm's quarterly revenue was up 11.6% compared to the same quarter last year. During the same period in the previous year, the business earned $9.11 earnings per share. Analysts expect that Ameriprise Financial will post 43.74 earnings per share for the current fiscal year.

Insider Activity at Ameriprise Financial

In related news, Director Robert Francis Sharpe, Jr. sold 1,200 shares of the firm's stock in a transaction on Friday, May 8th. The stock was sold at an average price of $465.83, for a total value of $558,996.00. Following the completion of the sale, the director owned 6,300 shares of the company's stock, valued at $2,934,729. This trade represents a 16.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Gerard P. Smyth sold 6,255 shares of the firm's stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $472.52, for a total value of $2,955,612.60. Following the completion of the sale, the executive vice president directly owned 6,103 shares of the company's stock, valued at $2,883,789.56. The trade was a 50.61% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.60% of the company's stock.

Institutional Investors Weigh In On Ameriprise Financial

Institutional investors and hedge funds have recently modified their holdings of the stock. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in Ameriprise Financial by 5.7% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 199,258 shares of the financial services provider's stock worth $98,388,000 after purchasing an additional 10,782 shares in the last quarter. KBC Group NV boosted its holdings in shares of Ameriprise Financial by 12.2% during the 4th quarter. KBC Group NV now owns 150,606 shares of the financial services provider's stock valued at $73,848,000 after buying an additional 16,433 shares in the last quarter. National Pension Service grew its position in shares of Ameriprise Financial by 8.2% in the 4th quarter. National Pension Service now owns 165,543 shares of the financial services provider's stock worth $81,172,000 after buying an additional 12,563 shares during the period. LSV Asset Management grew its position in shares of Ameriprise Financial by 1.3% in the 4th quarter. LSV Asset Management now owns 272,018 shares of the financial services provider's stock worth $133,381,000 after buying an additional 3,548 shares during the period. Finally, PFA Pension Forsikringsaktieselskab bought a new position in shares of Ameriprise Financial in the 4th quarter worth about $72,050,000. 83.95% of the stock is owned by hedge funds and other institutional investors.

More Ameriprise Financial News

Here are the key news stories impacting Ameriprise Financial this week:

• Positive Sentiment: Ameriprise reported Q2 earnings of $11.07 per share, ahead of consensus estimates, while revenue of $4.90 billion also topped forecasts. Ameriprise Financial earnings report
• Positive Sentiment: The company said revenue rose 11.6% year over year, helped by higher fee income and a market rally that lifted the value of fee-generating assets. Reuters article on Ameriprise profit rise
• Positive Sentiment: Management highlighted record levels of AUM and AUA, reinforcing momentum in Ameriprise’s wealth and asset management businesses. Zacks earnings commentary
• Neutral Sentiment: The board declared a quarterly dividend of $1.70 per share, signaling continued capital returns to shareholders. Dividend announcement
• Neutral Sentiment: Investors are also parsing the earnings call and presentation for clues on expense trends, since higher costs remain a key issue even after the strong quarter. Earnings call highlights

About Ameriprise Financial

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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