Ameriprise Financial (NYSE:AMP) Price Target Raised to $570.00 at Keefe, Bruyette & Woods

Ameriprise Financial (NYSE:AMP) had its price target increased by Keefe, Bruyette & Woods from $560.00 to $570.00 in a report published on Monday,Benzinga reports. Keefe, Bruyette & Woods currently has a market perform rating on the financial services provider’s stock.

A number of other analysts have also recently weighed in on AMP. Piper Sandler raised their target price on shares of Ameriprise Financial from $415.00 to $442.00 and gave the stock an “underweight” rating in a report on Friday. UBS Group cut shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $580.00 to $570.00 in a report on Monday, January 6th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $625.00 price objective on shares of Ameriprise Financial in a research note on Monday, January 27th. Finally, Morgan Stanley raised their price objective on shares of Ameriprise Financial from $440.00 to $502.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 17th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $510.44.

Ameriprise Financial Price Performance

Shares of NYSE:AMP opened at $537.64 on Monday. The firm’s 50 day moving average is $547.55 and its two-hundred day moving average is $498.55. Ameriprise Financial has a 52 week low of $385.56 and a 52 week high of $582.05. The firm has a market capitalization of $52.16 billion, a P/E ratio of 16.26, a PEG ratio of 1.18 and a beta of 1.36. The company has a current ratio of 0.59, a quick ratio of 0.65 and a debt-to-equity ratio of 1.01.

Ameriprise Financial (NYSE:AMP) last posted its quarterly earnings data on Wednesday, January 29th. The financial services provider reported $9.36 EPS for the quarter, beating 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 anticipate that Ameriprise Financial will post 38.68 earnings per share for the current year.

Ameriprise Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Monday, February 10th will be given a $1.48 dividend. The ex-dividend date of this dividend is Monday, February 10th. This represents a $5.92 annualized dividend and a yield of 1.10%. Ameriprise Financial’s dividend payout ratio is 17.91%.

Insider Activity

In other Ameriprise Financial news, insider Joseph Edward Sweeney sold 10,735 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $549.68, for a total value of $5,900,814.80. Following the completion of the sale, the insider now owns 5,811 shares of the company’s stock, valued at approximately $3,194,190.48. This represents a 64.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Walter Stanley Berman sold 8,655 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $564.16, for a total transaction of $4,882,804.80. Following the completion of the transaction, the chief financial officer now owns 6,409 shares of the company’s stock, valued at $3,615,701.44. This trade represents a 57.45 % decrease in their position. The disclosure for this sale can be found here. 0.96% of the stock is owned by company insiders.

Institutional Trading of Ameriprise Financial

Several institutional investors and hedge funds have recently added to or reduced their stakes in AMP. Wingate Wealth Advisors Inc. bought a new stake in Ameriprise Financial during the fourth quarter worth $30,000. Oakworth Capital Inc. bought a new stake in Ameriprise Financial during the third quarter worth $31,000. Country Trust Bank raised its position in Ameriprise Financial by 213.6% during the third quarter. Country Trust Bank now owns 69 shares of the financial services provider’s stock worth $32,000 after acquiring an additional 47 shares in the last quarter. Sound Income Strategies LLC bought a new stake in Ameriprise Financial during the fourth quarter worth $36,000. Finally, Golden State Wealth Management LLC bought a new stake in Ameriprise Financial during the fourth quarter worth $38,000. 83.95% of the stock is 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.