Ameriprise Financial (NYSE:AMP) Price Target Increased to $480.00 by Analysts at Royal Bank of Canada

Ameriprise Financial (NYSE:AMP) had its price objective upped by equities research analysts at Royal Bank of Canada from $470.00 to $480.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm presently has an “outperform” rating on the financial services provider’s stock. Royal Bank of Canada’s price target suggests a potential upside of 16.89% from the stock’s previous close.

A number of other research analysts also recently issued reports on AMP. Evercore ISI boosted their price objective on shares of Ameriprise Financial from $400.00 to $445.00 and gave the company an “in-line” rating in a research report on Thursday, April 11th. UBS Group boosted their price objective on shares of Ameriprise Financial from $440.00 to $445.00 and gave the company a “buy” rating in a research report on Thursday, January 25th. Morgan Stanley boosted their price objective on shares of Ameriprise Financial from $400.00 to $437.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 9th. The Goldman Sachs Group boosted their target price on shares of Ameriprise Financial from $437.00 to $488.00 and gave the company a “buy” rating in a report on Wednesday, March 27th. Finally, Piper Sandler boosted their target price on shares of Ameriprise Financial from $360.00 to $392.00 and gave the company an “underweight” rating in a report on Friday, April 5th. One analyst has rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $449.57.

Ameriprise Financial Price Performance

AMP stock opened at $410.64 on Wednesday. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 1.13. The firm has a 50 day moving average of $418.41 and a 200-day moving average of $380.19. The firm has a market capitalization of $41.14 billion, a P/E ratio of 13.98, a price-to-earnings-growth ratio of 0.67 and a beta of 1.36. Ameriprise Financial has a 12 month low of $279.85 and a 12 month high of $440.67.

Ameriprise Financial (NYSE:AMP) last issued its quarterly earnings data on Wednesday, April 24th. The financial services provider reported $8.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $8.10 by $0.29. The business had revenue of $4.15 billion for the quarter, compared to the consensus estimate of $4.15 billion. Ameriprise Financial had a net margin of 19.42% and a return on equity of 75.97%. The company’s quarterly revenue was up 10.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $7.25 EPS. As a group, sell-side analysts predict that Ameriprise Financial will post 34.43 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Ameriprise Financial news, insider Joseph Edward Sweeney sold 5,146 shares of the company’s stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $389.47, for a total transaction of $2,004,212.62. Following the transaction, the insider now owns 9,421 shares in the company, valued at approximately $3,669,196.87. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Ameriprise Financial news, insider Joseph Edward Sweeney sold 5,146 shares of the company’s stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $389.47, for a total transaction of $2,004,212.62. Following the transaction, the insider now owns 9,421 shares in the company, valued at approximately $3,669,196.87. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Gumer Alvero sold 1,652 shares of the company’s stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $437.00, for a total transaction of $721,924.00. Following the transaction, the insider now owns 6,994 shares in the company, valued at approximately $3,056,378. The disclosure for this sale can be found here. Insiders have sold a total of 79,472 shares of company stock worth $31,779,805 in the last quarter. Corporate insiders own 0.73% of the company’s stock.

Institutional Investors Weigh In On Ameriprise Financial

Several hedge funds and other institutional investors have recently made changes to their positions in AMP. CWM LLC increased its position in shares of Ameriprise Financial by 2.9% during the 3rd quarter. CWM LLC now owns 2,433 shares of the financial services provider’s stock valued at $802,000 after purchasing an additional 69 shares during the last quarter. Arkadios Wealth Advisors purchased a new stake in shares of Ameriprise Financial during the 3rd quarter valued at about $233,000. Washington Trust Advisors Inc. increased its position in shares of Ameriprise Financial by 35.7% during the 3rd quarter. Washington Trust Advisors Inc. now owns 608 shares of the financial services provider’s stock valued at $200,000 after purchasing an additional 160 shares during the last quarter. Caprock Group LLC increased its position in shares of Ameriprise Financial by 13.4% during the 3rd quarter. Caprock Group LLC now owns 1,910 shares of the financial services provider’s stock valued at $630,000 after purchasing an additional 226 shares during the last quarter. Finally, Oak Thistle LLC purchased a new stake in shares of Ameriprise Financial during the 3rd quarter valued at about $717,000. Hedge funds and other 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.