Ameriprise Financial (NYSE:AMP) Stock Price Expected to Rise, Keefe, Bruyette & Woods Analyst Says

Ameriprise Financial (NYSE:AMP) had its target price hoisted by equities research analysts at Keefe, Bruyette & Woods from $560.00 to $570.00 in a report released on Monday,Benzinga reports. The brokerage currently has a “market perform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ price target points to a potential upside of 5.00% from the company’s current price.

A number of other brokerages also recently commented on AMP. Royal Bank of Canada restated an “outperform” rating and set a $625.00 target price on shares of Ameriprise Financial in a report on Monday, January 27th. Piper Sandler upped their target price on Ameriprise Financial from $415.00 to $442.00 and gave the company an “underweight” rating in a report on Friday. Morgan Stanley upped their target price on Ameriprise Financial from $440.00 to $502.00 and gave the company an “equal weight” rating in a report on Thursday, October 17th. Finally, UBS Group downgraded Ameriprise Financial from a “buy” rating to a “neutral” rating and decreased their target price for the company from $580.00 to $570.00 in a report on Monday, January 6th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $510.44.

Ameriprise Financial Stock Performance

NYSE:AMP opened at $542.83 on Monday. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.59 and a quick ratio of 0.65. The business has a 50 day moving average of $547.55 and a 200 day moving average of $498.55. The company has a market capitalization of $52.66 billion, a price-to-earnings ratio of 16.42, a PEG ratio of 1.18 and a beta of 1.36. Ameriprise Financial has a 1-year low of $378.05 and a 1-year high of $582.05.

Ameriprise Financial (NYSE:AMP) last announced its quarterly earnings results on Wednesday, January 29th. The financial services provider reported $9.36 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%. On average, sell-side analysts predict that Ameriprise Financial will post 38.68 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Joseph Edward Sweeney sold 10,735 shares of the firm’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $549.68, for a total transaction of $5,900,814.80. Following the completion of the transaction, the insider now directly owns 5,811 shares in the company, valued at $3,194,190.48. This trade represents a 64.88 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 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 directly owns 6,409 shares in the company, valued at $3,615,701.44. This trade represents a 57.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.96% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Ameriprise Financial

Institutional investors have recently modified their holdings of the business. Wingate Wealth Advisors Inc. purchased a new stake in shares of Ameriprise Financial during the fourth quarter valued at $30,000. Oakworth Capital Inc. purchased a new position in Ameriprise Financial in the third quarter worth about $31,000. Sound Income Strategies LLC purchased a new position in Ameriprise Financial in the fourth quarter worth about $36,000. Country Trust Bank boosted its position in Ameriprise Financial by 213.6% in the third quarter. Country Trust Bank now owns 69 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 47 shares during the last quarter. Finally, Golden State Wealth Management LLC bought a new position in shares of Ameriprise Financial in the fourth quarter worth about $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.