Ameriprise Financial (NYSE:AMP) had its price objective upped by analysts at Royal Bank of Canada from $270.00 to $295.00 in a research note issued on Tuesday, Benzinga reports. The firm presently has an "outperform" rating on the financial services provider's stock. Royal Bank of Canada's target price suggests a potential upside of 14.41% from the company's previous close.
A number of other analysts also recently commented on AMP. Morgan Stanley boosted their price target on shares of Ameriprise Financial from $220.00 to $236.00 and gave the stock an "equal weight" rating in a research report on Monday. Zacks Investment Research downgraded shares of Ameriprise Financial from a "buy" rating to a "hold" rating and set a $244.00 target price on the stock. in a report on Wednesday, March 31st. Citigroup boosted their price target on shares of Ameriprise Financial from $245.00 to $265.00 in a report on Wednesday, March 31st. Piper Sandler boosted their price target on shares of Ameriprise Financial from $215.00 to $221.00 and gave the company an "overweight" rating in a report on Wednesday, January 6th. Finally, Barclays boosted their price objective on shares of Ameriprise Financial from $245.00 to $265.00 and gave the company an "overweight" rating in a research report on Monday, April 19th. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The company presently has an average rating of "Buy" and a consensus target price of $221.82.
Shares of NYSE:AMP opened at $257.85 on Tuesday. The stock has a market capitalization of $30.07 billion, a price-to-earnings ratio of 18.47 and a beta of 1.74. Ameriprise Financial has a one year low of $106.78 and a one year high of $261.84. The company has a 50-day simple moving average of $239.45 and a 200-day simple moving average of $207.37. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.80 and a current ratio of 0.80.
Ameriprise Financial (NYSE:AMP) last announced its earnings results on Sunday, April 25th. The financial services provider reported $5.43 earnings per share (EPS) for the quarter, topping the Zacks' consensus estimate of $4.73 by $0.70. The firm had revenue of $3.35 billion for the quarter, compared to analyst estimates of $3.23 billion. Ameriprise Financial had a net margin of 15.16% and a return on equity of 33.79%. Ameriprise Financial's revenue was up 11.6% compared to the same quarter last year. During the same quarter last year, the business earned $5.41 earnings per share. As a group, research analysts forecast that Ameriprise Financial will post 14.05 EPS for the current fiscal year.
In other news, insider John Robert Woerner sold 13,956 shares of the business's stock in a transaction dated Thursday, April 29th. The stock was sold at an average price of $258.76, for a total transaction of $3,611,254.56. Following the sale, the insider now directly owns 57,818 shares in the company, valued at $14,960,985.68. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Colin Moore sold 44,068 shares of the company's stock in a transaction that occurred on Wednesday, February 3rd. The shares were sold at an average price of $202.60, for a total value of $8,928,176.80. Insiders have sold 104,418 shares of company stock valued at $22,432,988 in the last three months. Insiders own 1.50% of the company's stock.
Large investors have recently modified their holdings of the company. Venture Visionary Partners LLC raised its position in Ameriprise Financial by 200.1% in the 4th quarter. Venture Visionary Partners LLC now owns 5,452 shares of the financial services provider's stock valued at $1,059,000 after buying an additional 3,635 shares during the last quarter. JustInvest LLC bought a new position in Ameriprise Financial in the 4th quarter valued at $260,000. Barclays PLC grew its stake in Ameriprise Financial by 15.0% in the 4th quarter. Barclays PLC now owns 192,627 shares of the financial services provider's stock valued at $37,434,000 after purchasing an additional 25,144 shares during the period. Copeland Capital Management LLC grew its stake in Ameriprise Financial by 22.8% in the 4th quarter. Copeland Capital Management LLC now owns 30,150 shares of the financial services provider's stock valued at $5,859,000 after purchasing an additional 5,592 shares during the period. Finally, IFM Investors Pty Ltd grew its stake in Ameriprise Financial by 17.5% in the 4th quarter. IFM Investors Pty Ltd now owns 11,837 shares of the financial services provider's stock valued at $2,300,000 after purchasing an additional 1,764 shares during the period. 83.05% of the stock is currently owned by institutional investors.
Ameriprise Financial Company Profile
Ameriprise Financial, Inc, through 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.
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