Argus Increases Ameriprise Financial (NYSE:AMP) Price Target to $460.00

Ameriprise Financial (NYSE:AMP - Get Free Report) had its price target hoisted by analysts at Argus from $440.00 to $460.00 in a research note issued on Monday, Benzinga reports. The brokerage presently has a "buy" rating on the financial services provider's stock. Argus' price target points to a potential upside of 8.23% from the stock's current price.

AMP has been the subject of several other reports. UBS Group upped their price objective on Ameriprise Financial from $440.00 to $445.00 and gave the stock a "buy" rating in a research report on Thursday, January 25th. Piper Sandler upped their price objective on Ameriprise Financial from $360.00 to $392.00 and gave the stock an "underweight" rating in a research report on Friday, April 5th. Evercore ISI upped their price objective on Ameriprise Financial from $400.00 to $445.00 and gave the stock an "in-line" rating in a research report on Thursday, April 11th. The Goldman Sachs Group upped 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. Finally, Royal Bank of Canada upped their target price on Ameriprise Financial from $470.00 to $480.00 and gave the company an "outperform" rating in a research report on Wednesday, April 24th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $450.88.

Ameriprise Financial Stock Up 1.4 %

Shares of AMP traded up $6.06 during midday trading on Monday, reaching $425.01. The stock had a trading volume of 436,022 shares, compared to its average volume of 497,030. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.56 and a quick ratio of 0.56. The company's fifty day simple moving average is $420.52 and its two-hundred day simple moving average is $385.34. The company has a market cap of $42.58 billion, a price-to-earnings ratio of 14.47, a PEG ratio of 0.71 and a beta of 1.35. Ameriprise Financial has a 1-year low of $286.58 and a 1-year high of $440.67.

Ameriprise Financial (NYSE:AMP - Get Free Report) last announced its quarterly earnings results on Wednesday, April 24th. The financial services provider reported $8.39 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 75.97% and a net margin of 19.42%. Ameriprise Financial's revenue for the quarter was up 10.8% on a year-over-year basis. During the same period in the previous year, the business earned $7.25 EPS. Equities research analysts expect that Ameriprise Financial will post 34.74 earnings per share for the current year.

Insider Activity at Ameriprise Financial

In other Ameriprise Financial news, SVP Dawn M. Brockman sold 224 shares of the stock in a transaction on Tuesday, March 26th. The stock was sold at an average price of $434.13, for a total value of $97,245.12. Following the completion of the transaction, the senior vice president now owns 1,288 shares in the company, valued at $559,159.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, SVP Dawn M. Brockman sold 224 shares of Ameriprise Financial stock in a transaction that occurred on Tuesday, March 26th. The shares were sold at an average price of $434.13, for a total transaction of $97,245.12. Following the completion of the sale, the senior vice president now directly owns 1,288 shares in the company, valued at approximately $559,159.44. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Gumer Alvero sold 1,652 shares of the firm's stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of $437.00, for a total value of $721,924.00. Following the completion of the transaction, 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 74,326 shares of company stock worth $29,775,593 over the last 90 days. Company insiders own 0.96% of the company's stock.

Institutional Trading of Ameriprise Financial

Several large investors have recently modified their holdings of the business. Retirement Group LLC acquired a new stake in Ameriprise Financial during the 1st quarter valued at $25,000. Redmont Wealth Advisors LLC acquired a new stake in shares of Ameriprise Financial during the first quarter valued at $28,000. Annapolis Financial Services LLC increased its position in Ameriprise Financial by 928.6% during the 1st quarter. Annapolis Financial Services LLC now owns 72 shares of the financial services provider's stock worth $32,000 after purchasing an additional 65 shares in the last quarter. Sound Income Strategies LLC acquired a new position in Ameriprise Financial in the 1st quarter valued at about $32,000. Finally, Benjamin Edwards Inc. acquired a new position in Ameriprise Financial in the 1st quarter valued at about $34,000. 83.95% of the stock is currently owned by institutional investors and hedge funds.

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.