Ameriprise Financial’s (AMP) “Outperform” Rating Reaffirmed at Royal Bank of Canada

Royal Bank of Canada restated their outperform rating on shares of Ameriprise Financial (NYSE:AMP) in a report released on Monday morning,Benzinga reports. Royal Bank of Canada currently has a $625.00 price target on the financial services provider’s stock.

A number of other analysts have also weighed in on the stock. Keefe, Bruyette & Woods lowered their price target on shares of Ameriprise Financial from $565.00 to $560.00 and set a “market perform” rating for the company in a report on Friday, January 10th. UBS Group lowered Ameriprise Financial from a “buy” rating to a “neutral” rating and cut their price target for the company from $580.00 to $570.00 in a research note on Monday, January 6th. Finally, Morgan Stanley raised their price target on Ameriprise Financial from $440.00 to $502.00 and gave the company an “equal weight” rating in a report on Thursday, October 17th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, Ameriprise Financial presently has an average rating of “Hold” and an average price target of $503.22.

Ameriprise Financial Stock Down 0.5 %

NYSE AMP opened at $560.97 on Monday. The stock’s 50 day simple moving average is $548.23 and its 200 day simple moving average is $494.21. Ameriprise Financial has a one year low of $378.05 and a one year high of $577.00. The firm has a market cap of $54.42 billion, a PE ratio of 21.53, a price-to-earnings-growth ratio of 0.85 and a beta of 1.36. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.65 and a quick ratio of 0.65.

Insider Activity at Ameriprise Financial

In related news, CFO Walter Stanley Berman sold 8,655 shares of the business’s 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 of the company’s stock, valued at approximately $3,615,701.44. The trade was a 57.45 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Gumer Alvero sold 2,325 shares of the stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $516.05, for a total value of $1,199,816.25. Following the transaction, the insider now owns 4,669 shares of the company’s stock, valued at approximately $2,409,437.45. This trade represents a 33.24 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 21,715 shares of company stock worth $11,983,436. 0.73% of the stock is owned by company insiders.

Hedge Funds Weigh In On Ameriprise Financial

Several hedge funds have recently made changes to their positions in AMP. Geller Advisors LLC increased its stake in Ameriprise Financial by 2.2% in the 3rd quarter. Geller Advisors LLC now owns 878 shares of the financial services provider’s stock valued at $412,000 after buying an additional 19 shares during the last quarter. Cerro Pacific Wealth Advisors LLC grew its holdings in shares of Ameriprise Financial by 3.4% in the 4th quarter. Cerro Pacific Wealth Advisors LLC now owns 576 shares of the financial services provider’s stock valued at $307,000 after acquiring an additional 19 shares in the last quarter. Legacy Capital Wealth Partners LLC increased its position in shares of Ameriprise Financial by 2.0% in the third quarter. Legacy Capital Wealth Partners LLC now owns 1,022 shares of the financial services provider’s stock valued at $480,000 after acquiring an additional 20 shares during the last quarter. Dakota Wealth Management raised its holdings in Ameriprise Financial by 2.7% during the fourth quarter. Dakota Wealth Management now owns 798 shares of the financial services provider’s stock worth $425,000 after acquiring an additional 21 shares in the last quarter. Finally, Abel Hall LLC raised its holdings in Ameriprise Financial by 4.2% during the fourth quarter. Abel Hall LLC now owns 517 shares of the financial services provider’s stock worth $275,000 after acquiring an additional 21 shares in the last quarter. 83.95% of the stock is owned by institutional investors.

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.