The Goldman Sachs Group Increases Ameriprise Financial (NYSE:AMP) Price Target to $488.00

Ameriprise Financial (NYSE:AMP) had its target price raised by equities research analysts at The Goldman Sachs Group from $437.00 to $488.00 in a research note issued on Wednesday, Benzinga reports. The firm presently has a “buy” rating on the financial services provider’s stock. The Goldman Sachs Group’s target price would indicate a potential upside of 11.29% from the stock’s previous close.

Other equities research analysts have also recently issued research reports about the company. Raymond James started coverage on Ameriprise Financial in a research note on Thursday, March 21st. They issued a “market perform” rating on the stock. UBS Group lifted their price target on shares of Ameriprise Financial from $440.00 to $445.00 and gave the company a “buy” rating in a research note on Thursday, January 25th. Evercore ISI cut Ameriprise Financial from an “outperform” rating to an “in-line” rating and raised their price objective for the company from $385.00 to $400.00 in a report on Thursday, January 4th. Royal Bank of Canada increased their price target on Ameriprise Financial from $410.00 to $420.00 and gave the company an “outperform” rating in a research report on Monday, January 22nd. Finally, Keefe, Bruyette & Woods boosted their price target on Ameriprise Financial from $400.00 to $420.00 and gave the stock a “market perform” rating in a research report on Tuesday, January 30th. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $428.83.

Ameriprise Financial Trading Up 0.6 %

AMP opened at $438.48 on Wednesday. The firm has a 50 day simple moving average of $404.47 and a 200 day simple moving average of $367.57. Ameriprise Financial has a fifty-two week low of $279.85 and a fifty-two week high of $440.64. The company has a market cap of $43.93 billion, a price-to-earnings ratio of 18.49, a price-to-earnings-growth ratio of 0.80 and a beta of 1.36. The company has a debt-to-equity ratio of 1.17, a current ratio of 0.56 and a quick ratio of 0.56.

Ameriprise Financial (NYSE:AMP) last announced its quarterly earnings results on Thursday, January 25th. The financial services provider reported $7.75 EPS for the quarter, beating analysts’ consensus estimates of $7.67 by $0.08. The company had revenue of $3.99 billion during the quarter, compared to analysts’ expectations of $3.90 billion. Ameriprise Financial had a return on equity of 77.39% and a net margin of 16.27%. Ameriprise Financial’s revenue was up 9.0% on a year-over-year basis. During the same period in the prior year, the business posted $6.94 EPS. On average, sell-side analysts anticipate that Ameriprise Financial will post 34.2 earnings per share for the current year.

Insider Transactions at Ameriprise Financial

In other Ameriprise Financial news, SVP Dawn M. Brockman sold 224 shares of the firm’s stock in a transaction that occurred on Tuesday, March 26th. The shares were sold at an average price of $434.13, for a total transaction of $97,245.12. Following the completion of the sale, the senior vice president now directly owns 1,288 shares in the company, valued at $559,159.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Ameriprise Financial news, SVP Dawn M. Brockman sold 224 shares of the stock in a transaction on Tuesday, March 26th. The stock was sold at an average price of $434.13, for a total transaction of $97,245.12. Following the transaction, the senior vice president now owns 1,288 shares in the company, valued at approximately $559,159.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO William F. Truscott sold 9,689 shares of Ameriprise Financial stock in a transaction on Friday, January 26th. The stock was sold at an average price of $390.22, for a total value of $3,780,841.58. Following the sale, the chief executive officer now directly owns 12,126 shares of the company’s stock, valued at approximately $4,731,807.72. The disclosure for this sale can be found here. In the last 90 days, insiders sold 87,509 shares of company stock worth $34,838,723. 0.73% of the stock is owned by insiders.

Institutional Investors Weigh In On Ameriprise Financial

A number of large investors have recently added to or reduced their stakes in AMP. Nomura Holdings Inc. bought a new stake in Ameriprise Financial during the fourth quarter worth about $775,000. HighPoint Advisor Group LLC bought a new stake in shares of Ameriprise Financial during the 4th quarter worth approximately $1,029,000. Cove Private Wealth LLC acquired a new stake in shares of Ameriprise Financial during the 4th quarter worth approximately $2,145,000. Wellington Management Group LLP increased its stake in Ameriprise Financial by 11.4% in the fourth quarter. Wellington Management Group LLP now owns 6,158 shares of the financial services provider’s stock valued at $2,339,000 after acquiring an additional 630 shares during the last quarter. Finally, EP Wealth Advisors LLC increased its stake in Ameriprise Financial by 6.1% in the fourth quarter. EP Wealth Advisors LLC now owns 1,648 shares of the financial services provider’s stock valued at $626,000 after acquiring an additional 95 shares during the last quarter. Institutional investors and hedge funds own 83.95% of the company’s stock.

Ameriprise Financial Company Profile

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.