Ameriprise Financial (NYSE:AMP) Price Target Raised to $420.00 at Royal Bank of Canada

Ameriprise Financial (NYSE:AMPFree Report) had its target price hoisted by Royal Bank of Canada from $410.00 to $420.00 in a research report sent to investors on Monday morning, Benzinga reports. The firm currently has an outperform rating on the financial services provider’s stock.

Other equities analysts have also issued reports about the stock. The Goldman Sachs Group raised shares of Ameriprise Financial from a neutral rating to a buy rating and lifted their price target for the stock from $355.00 to $452.00 in a report on Wednesday, January 3rd. UBS Group raised their price target on shares of Ameriprise Financial from $375.00 to $440.00 and gave the stock a buy rating in a report on Tuesday, January 9th. StockNews.com downgraded shares of Ameriprise Financial from a buy rating to a hold rating in a report on Wednesday, November 29th. Morgan Stanley reissued an equal weight rating and issued a $383.00 price target (up previously from $365.00) on shares of Ameriprise Financial in a research report on Friday, December 22nd. Finally, Evercore ISI cut shares of Ameriprise Financial from an outperform rating to an in-line rating and lifted their price objective for the stock from $385.00 to $400.00 in a research report on Thursday, January 4th. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of Moderate Buy and an average price target of $408.50.

Check Out Our Latest Stock Analysis on AMP

Ameriprise Financial Stock Up 0.2 %

AMP traded up $0.64 during trading on Monday, hitting $392.02. 178,147 shares of the company’s stock traded hands, compared to its average volume of 560,688. Ameriprise Financial has a 12-month low of $275.09 and a 12-month high of $402.64. The company’s 50 day simple moving average is $369.78 and its two-hundred day simple moving average is $347.72. The stock has a market capitalization of $39.67 billion, a price-to-earnings ratio of 16.51, a PEG ratio of 0.75 and a beta of 1.40. The company has a current ratio of 0.57, a quick ratio of 0.57 and a debt-to-equity ratio of 1.51.

Ameriprise Financial (NYSE:AMPGet Free Report) last issued its quarterly earnings results on Thursday, January 25th. The financial services provider reported $7.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $7.67 by $0.08. The business had revenue of $3.99 billion during the quarter, compared to analyst estimates of $3.90 billion. Ameriprise Financial had a return on equity of 80.82% and a net margin of 16.27%. Ameriprise Financial’s revenue for the quarter was up 9.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $6.94 EPS. Analysts predict that Ameriprise Financial will post 33.63 earnings per share for the current fiscal year.

Ameriprise Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, February 27th. Shareholders of record on Friday, February 9th will be given a $1.35 dividend. This represents a $5.40 annualized dividend and a yield of 1.38%. The ex-dividend date is Thursday, February 8th. Ameriprise Financial’s dividend payout ratio is 22.78%.

Insider Buying and Selling

In related news, CEO James M. Cracchiolo sold 9,948 shares of the firm’s stock in a transaction that occurred on Monday, December 11th. The shares were sold at an average price of $365.86, for a total value of $3,639,575.28. Following the completion of the sale, the chief executive officer now owns 157,103 shares of the company’s stock, valued at $57,477,703.58. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, CFO Walter Stanley Berman sold 6,409 shares of the company’s stock in a transaction that occurred on Wednesday, December 13th. The stock was sold at an average price of $370.81, for a total transaction of $2,376,521.29. Following the transaction, the chief financial officer now directly owns 8,048 shares of the company’s stock, valued at approximately $2,984,278.88. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO James M. Cracchiolo sold 9,948 shares of the company’s stock in a transaction that occurred on Monday, December 11th. The shares were sold at an average price of $365.86, for a total value of $3,639,575.28. Following the completion of the transaction, the chief executive officer now directly owns 157,103 shares of the company’s stock, valued at $57,477,703.58. The disclosure for this sale can be found here. 0.73% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in AMP. BOKF NA raised its holdings in Ameriprise Financial by 12.7% in the 2nd quarter. BOKF NA now owns 12,334 shares of the financial services provider’s stock worth $4,097,000 after acquiring an additional 1,390 shares during the last quarter. Texas Permanent School Fund Corp lifted its stake in Ameriprise Financial by 11.3% in the 2nd quarter. Texas Permanent School Fund Corp now owns 24,433 shares of the financial services provider’s stock worth $8,116,000 after purchasing an additional 2,480 shares in the last quarter. Thrivent Financial for Lutherans grew its stake in Ameriprise Financial by 74.9% in the 2nd quarter. Thrivent Financial for Lutherans now owns 553,481 shares of the financial services provider’s stock worth $183,843,000 after acquiring an additional 236,944 shares in the last quarter. ING Groep NV purchased a new position in shares of Ameriprise Financial in the third quarter worth $4,248,000. Finally, Signaturefd LLC boosted its holdings in Ameriprise Financial by 5.4% in the 2nd quarter. Signaturefd LLC now owns 2,207 shares of the financial services provider’s stock valued at $733,000 after purchasing an additional 113 shares during the last quarter. Institutional investors own 82.62% of the company’s stock.

About Ameriprise Financial

(Get Free Report)

Ameriprise Financial, Inc, through 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.

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