Royal Bank of Canada Increases Ameriprise Financial (NYSE:AMP) Price Target to $480.00

Ameriprise Financial (NYSE:AMP) had its target price raised by Royal Bank of Canada from $470.00 to $480.00 in a research report released on Wednesday, Benzinga reports. The brokerage currently has an outperform rating on the financial services provider’s stock.

A number of other analysts also recently commented on the company. UBS Group boosted their target price on Ameriprise Financial from $440.00 to $445.00 and gave the stock a buy rating in a research report on Thursday, January 25th. Evercore ISI boosted their target price on Ameriprise Financial from $400.00 to $445.00 and gave the stock an in-line rating in a research report on Thursday, April 11th. Piper Sandler boosted their target price on Ameriprise Financial from $360.00 to $392.00 and gave the stock an underweight rating in a research report on Friday, April 5th. Raymond James assumed coverage on Ameriprise Financial in a research report on Thursday, March 21st. They set a market perform rating on the stock. Finally, The Goldman Sachs Group boosted their target price on Ameriprise Financial from $437.00 to $488.00 and gave the stock a buy rating in a research report on Wednesday, March 27th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, Ameriprise Financial presently has an average rating of Hold and a consensus target price of $449.57.

Ameriprise Financial Trading Down 0.2 %

Shares of AMP stock opened at $410.01 on Wednesday. The business’s fifty day moving average price is $418.65 and its 200 day moving average price is $381.14. Ameriprise Financial has a 1-year low of $279.85 and a 1-year high of $440.67. The firm has a market capitalization of $41.08 billion, a PE ratio of 13.96, a P/E/G ratio of 0.70 and a beta of 1.36. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.56 and a quick ratio of 0.56.

Ameriprise Financial (NYSE:AMP) last announced its quarterly earnings data on Wednesday, April 24th. The financial services provider reported $8.39 earnings per share for the quarter, topping analysts’ consensus estimates of $8.10 by $0.29. Ameriprise Financial had a return on equity of 75.97% and a net margin of 19.42%. The firm had revenue of $4.15 billion for the quarter, compared to analyst estimates of $4.15 billion. During the same quarter in the prior year, the company posted $7.25 earnings per share. Ameriprise Financial’s quarterly revenue was up 10.8% on a year-over-year basis. As a group, sell-side analysts forecast that Ameriprise Financial will post 34.65 EPS for the current fiscal year.

Ameriprise Financial Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 17th. Investors of record on Monday, May 6th will be given a dividend of $1.48 per share. The ex-dividend date is Friday, May 3rd. This is an increase from Ameriprise Financial’s previous quarterly dividend of $1.35. This represents a $5.92 annualized dividend and a yield of 1.44%. Ameriprise Financial’s dividend payout ratio is 18.38%.

Insiders Place Their Bets

In other Ameriprise Financial news, SVP Dawn M. Brockman sold 224 shares of the company’s stock in a transaction dated Tuesday, March 26th. The stock was 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 legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Ameriprise Financial news, SVP Dawn M. Brockman sold 224 shares of the company’s stock in a transaction dated Tuesday, March 26th. The stock was 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 legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Robert Francis Sharpe, Jr. sold 4,000 shares of the company’s stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $386.60, for a total value of $1,546,400.00. Following the sale, the director now owns 12,500 shares of the company’s stock, valued at $4,832,500. The disclosure for this sale can be found here. Insiders sold 79,472 shares of company stock worth $31,779,805 over the last three months. 0.73% of the stock is owned by insiders.

Institutional Investors Weigh In On Ameriprise Financial

Large investors have recently modified their holdings of the stock. OFI Invest Asset Management acquired a new stake in shares of Ameriprise Financial in the third quarter valued at about $25,000. Redmont Wealth Advisors LLC acquired a new stake in shares of Ameriprise Financial in the first quarter valued at about $28,000. Carmel Capital Partners LLC acquired a new stake in shares of Ameriprise Financial in the third quarter valued at about $30,000. Sound Income Strategies LLC acquired a new stake in shares of Ameriprise Financial in the first quarter valued at about $32,000. Finally, Annapolis Financial Services LLC grew its stake in shares of Ameriprise Financial by 928.6% in the first quarter. Annapolis Financial Services LLC now owns 72 shares of the financial services provider’s stock valued at $32,000 after buying an additional 65 shares in 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.