Ameriprise Financial (NYSE:AMP) PT Raised to $460.00 at Argus

Ameriprise Financial (NYSE:AMP) had its price objective hoisted by investment analysts at Argus from $440.00 to $460.00 in a research note issued to investors on Monday, Benzinga reports. The brokerage presently has a “buy” rating on the financial services provider’s stock. Argus’ target price suggests a potential upside of 8.24% from the company’s previous close.

Several other analysts have also recently weighed in on AMP. Morgan Stanley boosted their price target on Ameriprise Financial from $400.00 to $437.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 9th. Keefe, Bruyette & Woods boosted their target price on shares of Ameriprise Financial from $420.00 to $460.00 and gave the stock a “market perform” rating in a report on Wednesday, April 10th. The Goldman Sachs Group raised their price target on shares of Ameriprise Financial from $437.00 to $488.00 and gave the company a “buy” rating in a research note on Wednesday, March 27th. Royal Bank of Canada boosted their price objective on shares of Ameriprise Financial from $470.00 to $480.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 24th. Finally, Evercore ISI increased their price objective on Ameriprise Financial from $400.00 to $445.00 and gave the company an “in-line” rating in a report on Thursday, April 11th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $450.88.

Ameriprise Financial Price Performance

Shares of NYSE:AMP opened at $424.98 on Monday. The firm has a 50 day simple moving average of $420.85 and a 200 day simple moving average of $386.14. The company has a market cap of $42.58 billion, a price-to-earnings ratio of 14.46, a PEG ratio of 0.71 and a beta of 1.35. Ameriprise Financial has a one year low of $286.58 and a one year high of $440.67. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.56 and a quick ratio of 0.56.

Ameriprise Financial (NYSE:AMP) last announced its quarterly earnings results on Wednesday, April 24th. The financial services provider reported $8.39 EPS for the quarter, beating analysts’ consensus estimates of $8.10 by $0.29. The company had revenue of $4.15 billion during the quarter, compared to analysts’ expectations of $4.15 billion. Ameriprise Financial had a return on equity of 75.97% and a net margin of 19.42%. Ameriprise Financial’s revenue was up 10.8% compared to the same quarter last year. During the same period in the prior year, the company earned $7.25 EPS. Research analysts predict that Ameriprise Financial will post 34.74 earnings per share for the current fiscal year.

Insider Activity at Ameriprise Financial

In other news, CEO James M. Cracchiolo sold 2,493 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $401.11, for a total transaction of $999,967.23. Following the completion of the sale, the chief executive officer now owns 196,598 shares of the company’s stock, valued at approximately $78,857,423.78. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, insider Joseph Edward Sweeney sold 7,200 shares of the firm’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $401.82, for a total value of $2,893,104.00. Following the completion of the sale, the insider now directly owns 7,000 shares in the company, valued at approximately $2,812,740. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO James M. Cracchiolo sold 2,493 shares of the company’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $401.11, for a total value of $999,967.23. Following the transaction, the chief executive officer now directly owns 196,598 shares in the company, valued at $78,857,423.78. The disclosure for this sale can be found here. Insiders have sold a total of 56,980 shares of company stock worth $23,053,480 in the last 90 days. Corporate insiders own 0.96% of the company’s stock.

Institutional Investors Weigh In On Ameriprise Financial

Several hedge funds and other institutional investors have recently modified their holdings of AMP. Legacy Capital Group California Inc. acquired a new stake in Ameriprise Financial in the 1st quarter valued at $1,072,000. Meeder Advisory Services Inc. grew its holdings in shares of Ameriprise Financial by 6.5% during the first quarter. Meeder Advisory Services Inc. now owns 3,163 shares of the financial services provider’s stock valued at $1,387,000 after buying an additional 194 shares during the last quarter. Meeder Asset Management Inc. increased its position in shares of Ameriprise Financial by 31.4% during the first quarter. Meeder Asset Management Inc. now owns 57,560 shares of the financial services provider’s stock worth $25,237,000 after acquiring an additional 13,760 shares in the last quarter. NorthRock Partners LLC raised its holdings in shares of Ameriprise Financial by 161.0% in the 1st quarter. NorthRock Partners LLC now owns 20,528 shares of the financial services provider’s stock worth $9,000,000 after acquiring an additional 12,662 shares during the last quarter. Finally, Sei Investments Co. lifted its position in Ameriprise Financial by 7.2% in the 1st quarter. Sei Investments Co. now owns 181,674 shares of the financial services provider’s stock valued at $79,654,000 after acquiring an additional 12,181 shares in the last quarter. 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.