Ameriprise Financial (NYSE:AMP) Price Target Raised to $401.00

Ameriprise Financial (NYSE:AMP – Get Rating) had its target price lifted by Credit Suisse Group from $382.00 to $401.00 in a research report report published on Wednesday, The Fly reports. The firm currently has an outperform rating on the financial services provider’s stock.

A number of other brokerages also recently weighed in on AMP. The Goldman Sachs Group upped their price target on shares of Ameriprise Financial from $290.00 to $330.00 and gave the company a neutral rating in a report on Wednesday, November 23rd. Royal Bank of Canada upped their price target on shares of Ameriprise Financial from $310.00 to $350.00 and gave the company an outperform rating in a report on Friday, October 28th. Piper Sandler upped their price target on shares of Ameriprise Financial from $240.00 to $250.00 and gave the company an underweight rating in a report on Friday, October 7th. Argus upped their price objective on shares of Ameriprise Financial from $340.00 to $392.00 in a research note on Tuesday. Finally, Morgan Stanley upped their price objective on shares of Ameriprise Financial from $340.00 to $345.00 and gave the company an equal weight rating in a research note on Tuesday, January 10th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, Ameriprise Financial currently has a consensus rating of Moderate Buy and an average price target of $347.18.

Ameriprise Financial Stock Performance

Shares of AMP opened at $354.10 on Wednesday. The firm has a 50-day moving average price of $324.75 and a 200 day moving average price of $295.85. The firm has a market capitalization of $37.68 billion, a PE ratio of 15.77, a P/E/G ratio of 0.64 and a beta of 1.50. The company has a quick ratio of 0.79, a current ratio of 0.69 and a debt-to-equity ratio of 1.43. Ameriprise Financial has a 52-week low of $219.99 and a 52-week high of $356.77.

Ameriprise Financial (NYSE:AMP – Get Rating) last announced its earnings results on Thursday, January 26th. The financial services provider reported $6.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.35 by $0.59. Ameriprise Financial had a net margin of 17.91% and a return on equity of 70.64%. The firm had revenue of $3.62 billion during the quarter, compared to analyst estimates of $3.46 billion. During the same quarter in the prior year, the firm posted $6.15 EPS. Ameriprise Financial’s revenue was down 3.8% compared to the same quarter last year. On average, sell-side analysts anticipate that Ameriprise Financial will post 30.66 earnings per share for the current fiscal year.

Ameriprise Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 28th. Shareholders of record on Friday, February 10th will be issued a dividend of $1.25 per share. The ex-dividend date of this dividend is Thursday, February 9th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 1.41%. Ameriprise Financial’s payout ratio is presently 22.27%.

Insider Buying and Selling at Ameriprise Financial

In other news, CEO James M. Cracchiolo sold 13,050 shares of the firm’s stock in a transaction on Wednesday, November 23rd. The stock was sold at an average price of $333.02, for a total value of $4,345,911.00. Following the completion of the sale, the chief executive officer now directly owns 160,597 shares in the company, valued at $53,482,012.94. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other news, CEO William F. Truscott sold 11,483 shares of the firm’s stock in a transaction on Friday, January 27th. The stock was sold at an average price of $347.69, for a total value of $3,992,524.27. Following the completion of the sale, the chief executive officer now directly owns 16,262 shares in the company, valued at $5,654,134.78. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO James M. Cracchiolo sold 13,050 shares of the firm’s stock in a transaction on Wednesday, November 23rd. The shares were sold at an average price of $333.02, for a total value of $4,345,911.00. Following the completion of the sale, the chief executive officer now owns 160,597 shares of the company’s stock, valued at $53,482,012.94. The disclosure for this sale can be found here. Over the last three months, insiders sold 47,083 shares of company stock valued at $15,834,302. 1.00% of the stock is currently owned by company insiders.

Institutional Trading of Ameriprise Financial

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Better Money Decisions LLC acquired a new stake in Ameriprise Financial in the second quarter worth about $28,000. Investors Asset Management of Georgia Inc. GA ADV acquired a new position in shares of Ameriprise Financial during the 2nd quarter worth about $31,000. U.S. Capital Wealth Advisors LLC acquired a new position in shares of Ameriprise Financial during the 4th quarter worth about $31,000. Trifecta Capital Advisors LLC acquired a new position in shares of Ameriprise Financial during the 4th quarter worth about $33,000. Finally, Guardian Wealth Advisors LLC acquired a new position in shares of Ameriprise Financial during the 3rd quarter worth about $35,000. 81.66% of the stock is currently owned by institutional investors and hedge funds.

Ameriprise Financial Company Profile

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Ameriprise Financial, Inc operates as a holding company. The firm provides financial planning, asset management and insurance services to individuals, businesses and institutions. It operates through the following business segments: Advice & Wealth Management, Asset Management, Retirement & Protection Solutions, and Corporate & Other.