Ameriprise Financial (NYSE:AMP) PT Raised to $550.00 at Royal Bank of Canada

Ameriprise Financial (NYSE:AMP) had its price objective raised by equities research analysts at Royal Bank of Canada from $535.00 to $550.00 in a research report issued on Friday, Benzinga reports. The firm presently has an “outperform” rating on the financial services provider’s stock. Royal Bank of Canada’s target price indicates a potential upside of 9.02% from the stock’s current price.

Several other brokerages also recently weighed in on AMP. The Goldman Sachs Group downgraded shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and cut their target price for the stock from $485.00 to $476.00 in a research note on Thursday, September 26th. Keefe, Bruyette & Woods raised Ameriprise Financial from a “hold” rating to a “strong-buy” rating in a research report on Thursday, October 10th. Piper Sandler decreased their target price on Ameriprise Financial from $390.00 to $387.00 and set an “underweight” rating for the company in a report on Friday, June 28th. Jefferies Financial Group upped their price target on Ameriprise Financial from $500.00 to $504.00 and gave the stock a “buy” rating in a report on Friday, June 28th. Finally, Morgan Stanley increased their price target on Ameriprise Financial from $440.00 to $502.00 and gave the company an “equal weight” rating in a research report on Thursday, October 17th. One analyst has rated the stock with a sell rating, five have given a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $482.11.

Ameriprise Financial Price Performance

Ameriprise Financial stock opened at $504.48 on Friday. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.59 and a current ratio of 0.59. The company has a market capitalization of $50.11 billion, a price-to-earnings ratio of 17.17, a price-to-earnings-growth ratio of 0.81 and a beta of 1.35. The company’s 50 day simple moving average is $467.23 and its 200-day simple moving average is $439.99. Ameriprise Financial has a 1 year low of $307.57 and a 1 year high of $524.89.

Ameriprise Financial (NYSE:AMP) last released its quarterly earnings results on Wednesday, July 24th. The financial services provider reported $8.72 EPS for the quarter, topping the consensus estimate of $8.53 by $0.19. The business had revenue of $4.39 billion during the quarter, compared to analyst estimates of $4.24 billion. Ameriprise Financial had a return on equity of 73.83% and a net margin of 18.64%. The company’s quarterly revenue was up 9.6% on a year-over-year basis. During the same period last year, the business posted $7.44 earnings per share. As a group, equities research analysts expect that Ameriprise Financial will post 34.92 earnings per share for the current year.

Insider Activity

In other Ameriprise Financial news, VP William Davies sold 8,700 shares of the firm’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $442.07, for a total transaction of $3,846,009.00. Following the transaction, the vice president now owns 13,199 shares of the company’s stock, valued at approximately $5,834,881.93. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.73% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of AMP. Retirement Group LLC acquired a new position in shares of Ameriprise Financial in the first quarter valued at approximately $25,000. DiNuzzo Private Wealth Inc. grew its position in Ameriprise Financial by 268.8% in the 2nd quarter. DiNuzzo Private Wealth Inc. now owns 59 shares of the financial services provider’s stock valued at $25,000 after buying an additional 43 shares during the last quarter. Accordant Advisory Group Inc acquired a new position in Ameriprise Financial in the 2nd quarter valued at $26,000. Redmont Wealth Advisors LLC purchased a new position in Ameriprise Financial during the 1st quarter worth $28,000. Finally, Mascoma Wealth Management LLC lifted its stake in shares of Ameriprise Financial by 153.8% in the 2nd quarter. Mascoma Wealth Management LLC now owns 66 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 40 shares during the period. 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.