Ameriprise Financial (NYSE:AMP) Given “Outperform” Rating at Royal Bank of Canada

Ameriprise Financial (NYSE:AMP)‘s stock had its “outperform” rating reiterated by equities research analysts at Royal Bank of Canada in a report issued on Monday,Benzinga reports. They presently have a $625.00 target price on the financial services provider’s stock. Royal Bank of Canada’s target price would suggest a potential upside of 12.80% from the stock’s current price.

Several other equities analysts have also issued reports on AMP. UBS Group lowered shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and cut their price target for the stock from $580.00 to $570.00 in a report on Monday, January 6th. Keefe, Bruyette & Woods dropped their target price 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. Finally, Morgan Stanley lifted their target price on shares of Ameriprise Financial from $440.00 to $502.00 and gave the company an “equal weight” rating in a report on Thursday, October 17th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $503.22.

Ameriprise Financial Trading Down 1.7 %

Shares of Ameriprise Financial stock traded down $9.49 on Monday, hitting $554.09. 142,872 shares of the company traded hands, compared to its average volume of 438,261. The stock’s 50 day moving average price is $548.23 and its 200-day moving average price is $494.21. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.99. Ameriprise Financial has a 52 week low of $378.05 and a 52 week high of $577.00. The company has a market cap of $53.75 billion, a PE ratio of 21.27, a PEG ratio of 0.85 and a beta of 1.36.

Insider Transactions at Ameriprise Financial

In other Ameriprise Financial news, insider Gumer Alvero sold 2,325 shares of Ameriprise Financial stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $516.05, for a total value of $1,199,816.25. Following the transaction, the insider now directly owns 4,669 shares in the company, valued at approximately $2,409,437.45. The trade was a 33.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Joseph Edward Sweeney sold 10,735 shares of the business’s stock in a transaction dated 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 transaction, the insider now owns 5,811 shares in the company, valued at approximately $3,194,190.48. This trade represents a 64.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 21,715 shares of company stock valued at $11,983,436. Insiders own 0.73% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in AMP. Oakworth Capital Inc. acquired a new position in shares of Ameriprise Financial during the third quarter worth about $31,000. Country Trust Bank boosted its holdings in Ameriprise Financial by 213.6% during the third quarter. Country Trust Bank now owns 69 shares of the financial services provider’s stock worth $32,000 after buying an additional 47 shares in the last quarter. Sound Income Strategies LLC purchased a new stake in Ameriprise Financial during the fourth quarter worth about $36,000. Peterson Financial Group Inc. purchased a new stake in Ameriprise Financial during the third quarter worth about $45,000. Finally, Albion Financial Group UT purchased a new stake in Ameriprise Financial during the fourth quarter worth about $46,000. 83.95% of the stock is currently owned by institutional investors and hedge funds.

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.