Piper Sandler Boosts Ameriprise Financial (NYSE:AMP) Price Target to $392.00

Ameriprise Financial (NYSE:AMP - Free Report) had its price objective hoisted by Piper Sandler from $360.00 to $392.00 in a research note published on Friday, Benzinga reports. They currently have an underweight rating on the financial services provider's stock.

A number of other equities research analysts have also issued reports on the company. Raymond James assumed coverage on Ameriprise Financial in a research report on Thursday, March 21st. They issued a market perform rating on the stock. The Goldman Sachs Group lifted their target price on Ameriprise Financial from $437.00 to $488.00 and gave the company a buy rating in a research report on Wednesday, March 27th. UBS Group boosted their price target on Ameriprise Financial from $440.00 to $445.00 and gave the stock a buy rating in a research report on Thursday, January 25th. Royal Bank of Canada boosted their price target on Ameriprise Financial from $410.00 to $420.00 and gave the stock an outperform rating in a research report on Monday, January 22nd. Finally, Keefe, Bruyette & Woods boosted their price target on Ameriprise Financial from $400.00 to $420.00 and gave the stock a market perform rating in a research report on Tuesday, January 30th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock has an average rating of Hold and an average price target of $423.57.

Ameriprise Financial Stock Up 1.4 %

Shares of NYSE:AMP traded up $5.92 during trading on Friday, hitting $434.81. 295,544 shares of the company's stock traded hands, compared to its average volume of 485,645. The company has a 50-day moving average price of $410.43 and a 200-day moving average price of $371.11. Ameriprise Financial has a 52 week low of $279.85 and a 52 week high of $440.67. The company has a market cap of $43.56 billion, a price-to-earnings ratio of 18.34, a price-to-earnings-growth ratio of 0.72 and a beta of 1.36. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 1.17.

Ameriprise Financial (NYSE:AMP - Get Free Report) last announced its earnings results on Thursday, January 25th. The financial services provider reported $7.75 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $7.67 by $0.08. Ameriprise Financial had a return on equity of 77.39% and a net margin of 16.27%. The business had revenue of $3.99 billion for the quarter, compared to analyst estimates of $3.90 billion. During the same quarter last year, the firm earned $6.94 EPS. Ameriprise Financial's revenue for the quarter was up 9.0% compared to the same quarter last year. As a group, research analysts forecast that Ameriprise Financial will post 34.36 EPS for the current fiscal year.

Ameriprise Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, February 27th. Shareholders of record on Friday, February 9th were issued a $1.35 dividend. The ex-dividend date was Thursday, February 8th. This represents a $5.40 dividend on an annualized basis and a yield of 1.24%. Ameriprise Financial's payout ratio is presently 22.78%.

Insiders Place Their Bets

In other news, Director Robert Francis Sharpe, Jr. sold 4,000 shares of the stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $386.60, for a total value of $1,546,400.00. Following the completion of the sale, the director now owns 12,500 shares of the company's stock, valued at $4,832,500. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, Director Robert Francis Sharpe, Jr. sold 4,000 shares of the stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $386.60, for a total transaction of $1,546,400.00. Following the completion of the sale, the director now directly owns 12,500 shares of the company's stock, valued at $4,832,500. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Gumer Alvero sold 1,652 shares of the firm's stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $437.00, for a total value of $721,924.00. Following the completion of the sale, the insider now directly owns 6,994 shares of the company's stock, valued at $3,056,378. The disclosure for this sale can be found here. Insiders sold a total of 89,161 shares of company stock valued at $35,560,647 in the last 90 days. Corporate insiders own 0.73% of the company's stock.

Institutional Investors Weigh In On Ameriprise Financial

Large investors have recently added to or reduced their stakes in the business. Moneta Group Investment Advisors LLC increased its holdings in shares of Ameriprise Financial by 106,308.4% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 1,587,613 shares of the financial services provider's stock worth $494,335,000 after buying an additional 1,586,121 shares during the period. Norges Bank purchased a new position in Ameriprise Financial during the 4th quarter valued at about $514,539,000. First Trust Advisors LP increased its holdings in Ameriprise Financial by 1,001.2% during the 4th quarter. First Trust Advisors LP now owns 564,110 shares of the financial services provider's stock valued at $214,266,000 after purchasing an additional 512,884 shares during the period. Nuveen Asset Management LLC boosted its position in Ameriprise Financial by 29.7% during the 2nd quarter. Nuveen Asset Management LLC now owns 1,673,748 shares of the financial services provider's stock valued at $555,952,000 after acquiring an additional 382,811 shares in the last quarter. Finally, TD Asset Management Inc boosted its position in Ameriprise Financial by 151.5% during the 4th quarter. TD Asset Management Inc now owns 595,644 shares of the financial services provider's stock valued at $226,243,000 after acquiring an additional 358,780 shares in the last quarter. Institutional investors own 83.95% of the company's stock.

About Ameriprise Financial

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.