Raymond James Upgrades Ameriprise Financial (NYSE:AMP) to Strong-Buy

Ameriprise Financial (NYSE:AMP - Get Free Report) was upgraded by stock analysts at Raymond James from a "market perform" rating to a "strong-buy" rating in a research note issued on Monday, Marketbeat.com reports. The brokerage currently has a $518.00 price objective on the financial services provider's stock. Raymond James' price objective would indicate a potential upside of 10.32% from the stock's previous close.

Several other brokerages also recently issued reports on AMP. Keefe, Bruyette & Woods upped their price objective on Ameriprise Financial from $560.00 to $570.00 and gave the company a "market perform" rating in a research report on Monday, February 3rd. Morgan Stanley upped their target price on shares of Ameriprise Financial from $507.00 to $542.00 and gave the company an "equal weight" rating in a report on Tuesday, March 4th. UBS Group downgraded shares of Ameriprise Financial from a "buy" rating to a "neutral" rating and lowered their price target for the stock from $580.00 to $570.00 in a report on Monday, January 6th. Piper Sandler upped their price objective on shares of Ameriprise Financial from $415.00 to $442.00 and gave the company an "underweight" rating in a research note on Friday, January 31st. Finally, Royal Bank of Canada reaffirmed an "outperform" rating and issued a $625.00 target price on shares of Ameriprise Financial in a research note on Monday, February 3rd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, three have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $517.44.

Ameriprise Financial Price Performance

NYSE AMP traded up $13.01 during trading hours on Monday, reaching $469.53. The company's stock had a trading volume of 612,195 shares, compared to its average volume of 496,494. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.59 and a current ratio of 0.59. The company's 50-day moving average is $501.06 and its two-hundred day moving average is $523.06. Ameriprise Financial has a fifty-two week low of $385.74 and a fifty-two week high of $582.05. The stock has a market cap of $45.13 billion, a PE ratio of 14.20, a PEG ratio of 1.15 and a beta of 1.23.

Ameriprise Financial (NYSE:AMP - Get Free Report) last issued its quarterly earnings data on Wednesday, January 29th. The financial services provider reported $9.36 earnings per share for the quarter, topping analysts' consensus estimates of $9.16 by $0.20. Ameriprise Financial had a net margin of 19.70% and a return on equity of 69.35%. Analysts forecast that Ameriprise Financial will post 38.64 EPS for the current year.

Insider Activity

In related news, Director Robert Francis Sharpe, Jr. sold 1,000 shares of the stock in a transaction that occurred on Wednesday, February 12th. The shares were sold at an average price of $523.12, for a total transaction of $523,120.00. Following the completion of the sale, the director now owns 10,000 shares of the company's stock, valued at approximately $5,231,200. This represents a 9.09 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Joseph Edward Sweeney sold 4,636 shares of the firm's stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $539.07, for a total transaction of $2,499,128.52. Following the completion of the transaction, the insider now owns 7,237 shares in the company, valued at $3,901,249.59. The trade was a 39.05 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 11,636 shares of company stock valued at $6,263,989 in the last ninety days. Company insiders own 0.73% of the company's stock.

Institutional Trading of Ameriprise Financial

A number of institutional investors have recently added to or reduced their stakes in the business. Geller Advisors LLC lifted its stake in shares of Ameriprise Financial by 2.2% during the third quarter. Geller Advisors LLC now owns 878 shares of the financial services provider's stock worth $412,000 after purchasing an additional 19 shares in the last quarter. Cerro Pacific Wealth Advisors LLC lifted its position in Ameriprise Financial by 3.4% during the 4th quarter. Cerro Pacific Wealth Advisors LLC now owns 576 shares of the financial services provider's stock worth $307,000 after acquiring an additional 19 shares in the last quarter. SRS Capital Advisors Inc. boosted its holdings in Ameriprise Financial by 40.0% in the 4th quarter. SRS Capital Advisors Inc. now owns 70 shares of the financial services provider's stock worth $37,000 after acquiring an additional 20 shares during the period. HighPoint Advisor Group LLC boosted its holdings in Ameriprise Financial by 0.8% in the 4th quarter. HighPoint Advisor Group LLC now owns 2,683 shares of the financial services provider's stock worth $1,419,000 after acquiring an additional 20 shares during the period. Finally, Dakota Wealth Management grew its position in Ameriprise Financial by 2.7% in the fourth quarter. Dakota Wealth Management now owns 798 shares of the financial services provider's stock valued at $425,000 after acquiring an additional 21 shares in the last quarter. 83.95% of the stock is owned by hedge funds and other institutional investors.

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.