Ameriprise Financial (NYSE:AMP) Price Target Raised to $542.00

Ameriprise Financial (NYSE:AMP) had its target price raised by Morgan Stanley from $507.00 to $542.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage presently has an “equal weight” rating on the financial services provider’s stock. Morgan Stanley’s target price points to a potential upside of 7.60% from the stock’s current price.

Other research analysts have also recently issued reports about the stock. Keefe, Bruyette & Woods increased their price target on shares of Ameriprise Financial from $560.00 to $570.00 and gave the stock a “market perform” rating in a report on Monday, February 3rd. Piper Sandler raised their price objective on Ameriprise Financial from $415.00 to $442.00 and gave the company an “underweight” rating in a research note on Friday, January 31st. Royal Bank of Canada reiterated an “outperform” rating and set a $625.00 target price on shares of Ameriprise Financial in a research report on Monday, February 3rd. Finally, UBS Group lowered Ameriprise Financial from a “buy” rating to a “neutral” rating and lowered their target price for the company from $580.00 to $570.00 in a report on Monday, January 6th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $514.89.

Ameriprise Financial Trading Down 5.3 %

NYSE:AMP traded down $28.19 on Tuesday, reaching $503.73. 97,490 shares of the company’s stock were exchanged, compared to its average volume of 523,117. The firm has a market capitalization of $48.42 billion, a price-to-earnings ratio of 15.24, a price-to-earnings-growth ratio of 1.15 and a beta of 1.36. Ameriprise Financial has a 52-week low of $385.74 and a 52-week high of $582.05. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 1.01. The business has a fifty day moving average of $539.80 and a 200-day moving average of $516.28.

Ameriprise Financial (NYSE:AMP) last released its quarterly earnings results on Wednesday, January 29th. The financial services provider reported $9.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $9.16 by $0.20. Ameriprise Financial had a return on equity of 69.35% and a net margin of 19.70%. As a group, analysts expect that Ameriprise Financial will post 38.64 earnings per share for the current year.

Insider Activity at Ameriprise Financial

In other Ameriprise Financial news, CEO William F. Truscott sold 6,000 shares of the firm’s stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $540.29, for a total value of $3,241,740.00. Following the transaction, the chief executive officer now owns 14,023 shares of the company’s stock, valued at $7,576,486.67. This trade represents a 29.97 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Robert Francis Sharpe, Jr. sold 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 12th. The shares were sold at an average price of $523.12, for a total value of $523,120.00. Following the transaction, the director now owns 10,000 shares of the company’s stock, valued at $5,231,200. This represents a 9.09 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 11,636 shares of company stock valued at $6,263,989 over the last ninety days. Corporate insiders own 0.73% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. TCTC Holdings LLC acquired a new position in shares of Ameriprise Financial during the 4th quarter valued at $26,000. University of Texas Texas AM Investment Management Co. purchased a new position in Ameriprise Financial during the 4th quarter worth approximately $26,000. Whipplewood Advisors LLC acquired a new stake in Ameriprise Financial during the 4th quarter valued at $28,000. Rialto Wealth Management LLC purchased a new stake in shares of Ameriprise Financial in the fourth quarter valued at $28,000. Finally, Wingate Wealth Advisors Inc. acquired a new stake in shares of Ameriprise Financial in the fourth quarter worth $30,000. 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.