Ameriprise Financial (NYSE:AMP) Given Outperform Rating at Royal Bank of Canada

Royal Bank of Canada reissued their outperform rating on shares of Ameriprise Financial (NYSE:AMP) in a research report report published on Monday morning,Benzinga reports. They currently have a $625.00 price target on the financial services provider’s stock.

AMP has been the topic of a number of other reports. Keefe, Bruyette & Woods dropped their price target on shares of Ameriprise Financial from $565.00 to $560.00 and set a “market perform” rating on the stock in a research note on Friday, January 10th. Morgan Stanley upped their target price on Ameriprise Financial from $440.00 to $502.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 17th. Finally, UBS Group lowered Ameriprise Financial from a “buy” rating to a “neutral” rating and reduced their price target for the company from $580.00 to $570.00 in a report on Monday, January 6th. One analyst has rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $503.22.

Ameriprise Financial Stock Performance

AMP stock opened at $560.97 on Monday. The firm has a 50 day simple moving average of $548.23 and a 200 day simple moving average of $494.21. Ameriprise Financial has a 52 week low of $378.05 and a 52 week high of $577.00. The stock has a market cap of $54.42 billion, a P/E ratio of 21.53, a P/E/G ratio of 0.85 and a beta of 1.36. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.65 and a current ratio of 0.65.

Insider Transactions at Ameriprise Financial

In other news, insider Gumer Alvero sold 2,325 shares of the company’s stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $516.05, for a total transaction of $1,199,816.25. Following the completion of the transaction, the insider now owns 4,669 shares of the company’s stock, valued at approximately $2,409,437.45. This represents a 33.24 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Walter Stanley Berman sold 8,655 shares of the stock in a transaction dated 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 sale, the chief financial officer now owns 6,409 shares of the company’s stock, valued at approximately $3,615,701.44. The trade was a 57.45 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 21,715 shares of company stock worth $11,983,436 over the last three months. 0.73% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Ameriprise Financial

Several institutional investors and hedge funds have recently bought and sold shares of the business. Argus Investors Counsel Inc. raised its position in Ameriprise Financial by 9.2% in the fourth quarter. Argus Investors Counsel Inc. now owns 620 shares of the financial services provider’s stock worth $330,000 after purchasing an additional 52 shares in the last quarter. Adero Partners LLC grew its stake in shares of Ameriprise Financial by 9.6% in the 4th quarter. Adero Partners LLC now owns 585 shares of the financial services provider’s stock valued at $311,000 after purchasing an additional 51 shares during the period. YANKCOM Partnership acquired a new position in shares of Ameriprise Financial in the 4th quarter worth approximately $2,395,000. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Ameriprise Financial by 12.7% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 20,986 shares of the financial services provider’s stock worth $11,176,000 after buying an additional 2,368 shares in the last quarter. Finally, Y.D. More Investments Ltd lifted its position in shares of Ameriprise Financial by 120.0% during the 4th quarter. Y.D. More Investments Ltd now owns 121 shares of the financial services provider’s stock worth $64,000 after buying an additional 66 shares during the period. 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.