Royal Bank of Canada Increases Ameriprise Financial (NYSE:AMP) Price Target to $480.00

Ameriprise Financial (NYSE:AMP - Get Free Report) had its target price boosted by equities researchers at Royal Bank of Canada from $470.00 to $480.00 in a research report issued on Wednesday, Benzinga reports. The brokerage currently has an "outperform" rating on the financial services provider's stock. Royal Bank of Canada's target price would suggest a potential upside of 16.26% from the stock's previous close.

Several other analysts also recently issued reports on AMP. Piper Sandler boosted their price target on Ameriprise Financial from $360.00 to $392.00 and gave the company an "underweight" rating in a research note on Friday, April 5th. Keefe, Bruyette & Woods upped their target price on Ameriprise Financial from $420.00 to $460.00 and gave the company a "market perform" rating in a research report on Wednesday, April 10th. Raymond James initiated coverage on Ameriprise Financial in a research report on Thursday, March 21st. They set a "market perform" rating for the company. UBS Group boosted their price target on Ameriprise Financial from $440.00 to $445.00 and gave the stock a "buy" rating in a report on Thursday, January 25th. Finally, Morgan Stanley boosted their price target on Ameriprise Financial from $400.00 to $437.00 and gave the stock an "equal weight" rating in a report on Tuesday, April 9th. One analyst has rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $449.57.

Ameriprise Financial Stock Up 1.3 %

Shares of NYSE:AMP traded up $5.17 during trading on Wednesday, hitting $412.86. 625,126 shares of the company were exchanged, compared to its average volume of 502,423. 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 has a fifty-two week low of $279.85 and a fifty-two week high of $440.67. The firm has a fifty day moving average price of $418.15 and a two-hundred day moving average price of $379.98. The stock has a market cap of $41.36 billion, a price-to-earnings ratio of 14.05, a P/E/G ratio of 0.69 and a beta of 1.36.

Ameriprise Financial (NYSE:AMP - Get Free Report) last issued its earnings results on Tuesday, April 23rd. The financial services provider reported $8.39 EPS for the quarter, topping the consensus estimate of $8.10 by $0.29. The company had revenue of $4.15 billion during the quarter, compared to the consensus estimate of $4.15 billion. Ameriprise Financial had a return on equity of 78.98% and a net margin of 19.42%. The firm's revenue for the quarter was up 10.8% compared to the same quarter last year. During the same period in the previous year, the company posted $7.25 EPS. As a group, research analysts anticipate that Ameriprise Financial will post 34.43 earnings per share for the current fiscal year.

Insider Buying and Selling at Ameriprise Financial

In related news, SVP Dawn M. Brockman sold 224 shares of Ameriprise Financial stock in a transaction that occurred on Tuesday, March 26th. The stock was sold at an average price of $434.13, for a total transaction of $97,245.12. Following the transaction, the senior vice president now owns 1,288 shares of the company's stock, valued at $559,159.44. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, SVP Dawn M. Brockman sold 224 shares of Ameriprise Financial stock in a transaction on Tuesday, March 26th. The stock was sold at an average price of $434.13, for a total transaction of $97,245.12. Following the sale, the senior vice president now directly owns 1,288 shares in the company, valued at $559,159.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Gumer Alvero sold 1,652 shares of Ameriprise Financial 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 sale, the insider now owns 6,994 shares in the company, valued at $3,056,378. The disclosure for this sale can be found here. Over the last quarter, insiders sold 89,161 shares of company stock valued at $35,560,647. Company insiders own 0.96% of the company's stock.

Institutional Trading of Ameriprise Financial

Several hedge funds have recently made changes to their positions in AMP. Redmont Wealth Advisors LLC purchased a new position in shares of Ameriprise Financial in the first quarter valued at $28,000. Annapolis Financial Services LLC grew its position in shares of Ameriprise Financial by 928.6% in the first quarter. Annapolis Financial Services LLC now owns 72 shares of the financial services provider's stock valued at $32,000 after purchasing an additional 65 shares in the last quarter. Sound Income Strategies LLC purchased a new position in shares of Ameriprise Financial in the first quarter valued at $32,000. OFI Invest Asset Management purchased a new position in shares of Ameriprise Financial in the third quarter valued at $25,000. Finally, Turtle Creek Wealth Advisors LLC purchased a new position in shares of Ameriprise Financial in the fourth quarter valued at $34,000. 83.95% of the stock is currently owned by 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.