Keefe, Bruyette & Woods Increases Ameriprise Financial (NYSE:AMP) Price Target to $550.00

Ameriprise Financial (NYSE:AMP - Get Free Report) had its target price boosted by equities research analysts at Keefe, Bruyette & Woods from $520.00 to $550.00 in a note issued to investors on Wednesday,Benzinga reports. The firm currently has a "market perform" rating on the financial services provider's stock. Keefe, Bruyette & Woods' target price points to a potential upside of 2.55% from the company's previous close.

A number of other equities research analysts have also recently commented on the company. Piper Sandler lifted their target price on Ameriprise Financial from $423.00 to $434.00 and gave the stock an "underweight" rating in a research note on Thursday, July 3rd. Raymond James Financial upgraded Ameriprise Financial from a "market perform" rating to a "strong-buy" rating and set a $518.00 target price on the stock in a research note on Monday, April 7th. Wall Street Zen upgraded Ameriprise Financial from a "sell" rating to a "hold" rating in a research note on Friday, May 30th. Finally, Royal Bank Of Canada lifted their target price on Ameriprise Financial from $550.00 to $565.00 and gave the stock an "outperform" rating in a research note on Tuesday, April 29th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Ameriprise Financial presently has a consensus rating of "Hold" and an average price target of $526.43.

Ameriprise Financial Stock Down 1.1%

NYSE:AMP traded down $6.19 during trading hours on Wednesday, hitting $536.32. 84,483 shares of the company traded hands, compared to its average volume of 495,413. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 1.10. The firm's 50-day simple moving average is $515.17 and its 200-day simple moving average is $511.58. Ameriprise Financial has a one year low of $385.74 and a one year high of $582.05. The company has a market cap of $51.07 billion, a PE ratio of 18.22, a PEG ratio of 2.01 and a beta of 1.23.

Ameriprise Financial (NYSE:AMP - Get Free Report) last issued its quarterly earnings data on Thursday, April 24th. The financial services provider reported $9.50 earnings per share for the quarter, beating the consensus estimate of $9.08 by $0.42. Ameriprise Financial had a return on equity of 68.93% and a net margin of 17.14%. The business had revenue of $4.35 billion for the quarter, compared to analysts' expectations of $4.45 billion. During the same period last year, the business earned $8.39 EPS. The business's revenue was up 3.6% on a year-over-year basis. Equities analysts predict that Ameriprise Financial will post 38.64 earnings per share for the current year.

Ameriprise Financial announced that its Board of Directors has initiated a share buyback plan on Thursday, April 24th that permits the company to repurchase $4.50 billion in outstanding shares. This repurchase authorization permits the financial services provider to repurchase up to 9.9% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's board believes its stock is undervalued.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. TCTC Holdings LLC purchased a new stake in Ameriprise Financial in the fourth quarter worth approximately $26,000. University of Texas Texas AM Investment Management Co. purchased a new stake in Ameriprise Financial in the fourth quarter worth $26,000. TD Capital Management LLC grew its stake in Ameriprise Financial by 566.7% in the first quarter. TD Capital Management LLC now owns 60 shares of the financial services provider's stock worth $29,000 after purchasing an additional 51 shares during the period. Wealth Preservation Advisors LLC purchased a new stake in shares of Ameriprise Financial in the first quarter worth $29,000. Finally, Sunbeam Capital Management LLC purchased a new stake in shares of Ameriprise Financial in the fourth quarter worth $31,000. Hedge funds and other 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.