Ameriprise Financial (NYSE:AMP) Stock Price Expected to Rise, Piper Sandler Analyst Says

Ameriprise Financial (NYSE:AMP) had its target price lifted by Piper Sandler from $415.00 to $442.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm presently has an “underweight” rating on the financial services provider’s stock. Piper Sandler’s target price would suggest a potential downside of 18.46% from the stock’s previous close.

Several other equities research analysts have also commented on the stock. Keefe, Bruyette & Woods decreased their target price on shares of Ameriprise Financial from $565.00 to $560.00 and set a “market perform” rating on the stock in a research report on Friday, January 10th. Morgan Stanley boosted their price objective on shares of Ameriprise Financial from $440.00 to $502.00 and gave the stock an “equal weight” rating in a report on Thursday, October 17th. UBS Group downgraded shares of 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 research report on Monday, January 6th. Finally, 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. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $509.33.

Ameriprise Financial Stock Down 1.1 %

AMP stock traded down $5.77 during midday trading on Friday, reaching $542.08. 81,625 shares of the company were exchanged, compared to its average volume of 490,815. The stock’s 50-day simple moving average is $548.14 and its 200 day simple moving average is $496.86. Ameriprise Financial has a 1-year low of $378.05 and a 1-year high of $582.05. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.65 and a current ratio of 0.65. The company has a market cap of $52.59 billion, a price-to-earnings ratio of 16.40, a price-to-earnings-growth ratio of 0.87 and a beta of 1.36.

Ameriprise Financial (NYSE:AMP) last issued its quarterly earnings data on Wednesday, January 29th. The financial services provider reported $9.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $9.16 by $0.20. Ameriprise Financial had a return on equity of 69.46% and a net margin of 19.70%. On average, equities analysts forecast that Ameriprise Financial will post 39.04 earnings per share for the current year.

Insider Buying and Selling at Ameriprise Financial

In related news, insider Joseph Edward Sweeney sold 10,735 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $549.68, for a total value of $5,900,814.80. Following the sale, the insider now directly owns 5,811 shares in the company, valued at $3,194,190.48. The trade was a 64.88 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Walter Stanley Berman sold 8,655 shares of the stock in a transaction on Monday, November 11th. The shares were sold at an average price of $564.16, for a total value of $4,882,804.80. Following the sale, the chief financial officer now owns 6,409 shares of the company’s stock, valued at $3,615,701.44. This trade represents a 57.45 % decrease in their position. The disclosure for this sale can be found here. 0.73% of the stock is owned by company insiders.

Institutional Investors Weigh In On Ameriprise Financial

Several hedge funds have recently bought and sold shares of AMP. Wingate Wealth Advisors Inc. purchased a new stake in shares of Ameriprise Financial during the 4th quarter worth about $30,000. Oakworth Capital Inc. bought a new stake in Ameriprise Financial in the 3rd quarter valued at $31,000. Country Trust Bank lifted its holdings in shares of Ameriprise Financial by 213.6% during the 3rd quarter. Country Trust Bank now owns 69 shares of the financial services provider’s stock worth $32,000 after acquiring an additional 47 shares during the period. Sound Income Strategies LLC bought a new position in Ameriprise Financial during the fourth quarter worth about $36,000. Finally, Golden State Wealth Management LLC bought a new position in shares of Ameriprise Financial during the 4th quarter worth approximately $38,000. 83.95% of the stock is owned by hedge funds and other institutional investors.

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.