Ameriprise Financial (NYSE:AMP) Given New $620.00 Price Target at Jefferies Financial Group

Ameriprise Financial (NYSE:AMP) had its price target hoisted by Jefferies Financial Group from $600.00 to $620.00 in a report issued on Monday,Benzinga reports. The firm currently has a “buy” rating on the financial services provider’s stock. Jefferies Financial Group’s target price would suggest a potential upside of 17.63% from the company’s current price.

A number of other research analysts have also recently issued reports on the company. Piper Sandler raised Ameriprise Financial from an “underweight” rating to a “neutral” rating and boosted their target price for the company from $434.00 to $530.00 in a research note on Friday. Argus cut their price objective on shares of Ameriprise Financial from $568.00 to $554.00 and set a “buy” rating on the stock in a research report on Thursday, November 13th. Keefe, Bruyette & Woods dropped their target price on Ameriprise Financial from $550.00 to $530.00 and set a “market perform” rating on the stock in a report on Monday, November 3rd. Royal Bank Of Canada dropped their price target on shares of Ameriprise Financial from $601.00 to $550.00 and set an “outperform” rating on the stock in a research report on Monday, November 3rd. Finally, Evercore ISI cut their price objective on Ameriprise Financial from $587.00 to $570.00 and set an “in-line” rating for the company in a research report on Thursday, October 9th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $549.56.

Ameriprise Financial Stock Performance

Shares of NYSE AMP opened at $527.09 on Monday. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 0.86. The business’s 50 day moving average is $491.17 and its two-hundred day moving average is $491.74. Ameriprise Financial has a 12 month low of $396.14 and a 12 month high of $552.43. The company has a market cap of $48.97 billion, a P/E ratio of 14.50, a P/E/G ratio of 1.35 and a beta of 1.26.

Ameriprise Financial (NYSE:AMP) last issued its quarterly earnings data on Thursday, January 29th. The financial services provider reported $10.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $10.33 by $0.50. Ameriprise Financial had a return on equity of 63.04% and a net margin of 19.28%.The company had revenue of $4.90 billion during the quarter, compared to analysts’ expectations of $4.75 billion. During the same period last year, the business earned $9.54 earnings per share. The business’s revenue was up 10.2% on a year-over-year basis. On average, equities analysts expect that Ameriprise Financial will post 38.64 EPS for the current year.

Insider Activity

In other Ameriprise Financial news, Director Robert Francis Sharpe, Jr. sold 1,500 shares of Ameriprise Financial stock in a transaction dated Friday, November 21st. The stock was sold at an average price of $450.94, for a total transaction of $676,410.00. Following the transaction, the director directly owned 7,500 shares of the company’s stock, valued at approximately $3,382,050. The trade was a 16.67% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.57% of the company’s stock.

Institutional Trading of Ameriprise Financial

Several large investors have recently modified their holdings of AMP. Linden Thomas Advisory Services LLC lifted its stake in Ameriprise Financial by 0.5% in the 2nd quarter. Linden Thomas Advisory Services LLC now owns 4,096 shares of the financial services provider’s stock worth $2,186,000 after purchasing an additional 20 shares in the last quarter. Pinnacle Wealth Management Advisory Group LLC raised its position in shares of Ameriprise Financial by 2.9% in the second quarter. Pinnacle Wealth Management Advisory Group LLC now owns 733 shares of the financial services provider’s stock worth $391,000 after buying an additional 21 shares in the last quarter. CreativeOne Wealth LLC boosted its stake in Ameriprise Financial by 2.3% during the second quarter. CreativeOne Wealth LLC now owns 932 shares of the financial services provider’s stock valued at $497,000 after buying an additional 21 shares during the period. Rexford Capital Inc. grew its position in Ameriprise Financial by 20.6% during the third quarter. Rexford Capital Inc. now owns 123 shares of the financial services provider’s stock worth $60,000 after buying an additional 21 shares in the last quarter. Finally, PFG Investments LLC increased its stake in Ameriprise Financial by 1.4% in the 4th quarter. PFG Investments LLC now owns 1,488 shares of the financial services provider’s stock worth $729,000 after acquiring an additional 21 shares during the last quarter. Institutional investors and hedge funds own 83.95% of the company’s stock.

Ameriprise Financial Company Profile

Ameriprise Financial, Inc is a diversified financial services company headquartered in Minneapolis, Minnesota. The firm provides a range of advice-based wealth management, asset management and insurance products to individual and institutional clients. Its business model centers on delivering financial planning and investment advice through a network of financial advisors alongside proprietary product offerings designed to meet retirement, protection and accumulation needs.

Core products and services include comprehensive financial planning and advisory services, managed investment portfolios, retirement planning solutions, annuities and life insurance products.