Ameriprise Financial (NYSE:AMP) Given New $471.00 Price Target at Piper Sandler

Ameriprise Financial (NYSE:AMP) had its price target raised by equities research analysts at Piper Sandler from $460.00 to $471.00 in a research note issued on Monday,Benzinga reports. The brokerage presently has a “neutral” rating on the financial services provider’s stock. Piper Sandler’s price objective points to a potential upside of 1.32% from the stock’s previous close.

A number of other equities analysts have also recently commented on AMP. BMO Capital Markets lifted their price objective on shares of Ameriprise Financial from $470.00 to $490.00 and gave the stock a “market perform” rating in a research note on Friday, April 24th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $605.00 price objective (up from $580.00) on shares of Ameriprise Financial in a research report on Monday, February 2nd. Jefferies Financial Group upped their price target on shares of Ameriprise Financial from $600.00 to $620.00 and gave the company a “buy” rating in a research note on Monday, February 2nd. Raymond James Financial set a $582.00 price objective on shares of Ameriprise Financial and gave the company a “strong-buy” rating in a report on Wednesday, February 11th. Finally, Keefe, Bruyette & Woods assumed coverage on shares of Ameriprise Financial in a research report on Friday, April 10th. They set a “hold” rating for the company. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $543.22.

Ameriprise Financial Stock Down 0.1%

AMP stock opened at $464.86 on Monday. The company has a market cap of $42.39 billion, a price-to-earnings ratio of 11.52, a P/E/G ratio of 1.12 and a beta of 1.20. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.68 and a current ratio of 0.66. The business’s 50-day moving average is $454.79 and its two-hundred day moving average is $474.05. Ameriprise Financial has a fifty-two week low of $422.37 and a fifty-two week high of $550.18.

Ameriprise Financial (NYSE:AMP) last issued its quarterly earnings data on Thursday, April 23rd. The financial services provider reported $11.26 earnings per share for the quarter, topping the consensus estimate of $10.21 by $1.05. Ameriprise Financial had a net margin of 20.57% and a return on equity of 62.88%. The firm had revenue of $4.77 billion for the quarter, compared to analysts’ expectations of $4.82 billion. During the same quarter in the prior year, the business earned $9.50 EPS. The business’s quarterly revenue was up 9.7% on a year-over-year basis. As a group, analysts forecast that Ameriprise Financial will post 41.87 earnings per share for the current year.

Insider Activity

In other news, CFO Walter Stanley Berman sold 7,000 shares of the stock in a transaction on Thursday, February 5th. The stock was sold at an average price of $544.22, for a total value of $3,809,540.00. Following the sale, the chief financial officer directly owned 5,609 shares in the company, valued at approximately $3,052,529.98. This trade represents a 55.52% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Gumer Alvero sold 4,658 shares of the company’s stock in a transaction that occurred on Monday, February 9th. The shares were sold at an average price of $542.88, for a total value of $2,528,735.04. Following the completion of the transaction, the insider directly owned 4,621 shares of the company’s stock, valued at $2,508,648.48. This trade represents a 50.20% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 16,658 shares of company stock worth $8,998,675 over the last ninety days. Corporate insiders own 0.60% of the company’s stock.

Hedge Funds Weigh In On Ameriprise Financial

Several institutional investors have recently added to or reduced their stakes in the stock. Diversify Wealth Management LLC purchased a new position in Ameriprise Financial during the 1st quarter worth $1,041,000. Citizens Financial Group Inc. RI raised its holdings in Ameriprise Financial by 22.6% during the first quarter. Citizens Financial Group Inc. RI now owns 4,430 shares of the financial services provider’s stock worth $1,969,000 after purchasing an additional 816 shares during the last quarter. Midwest Trust Co boosted its position in shares of Ameriprise Financial by 6.0% in the 1st quarter. Midwest Trust Co now owns 124,637 shares of the financial services provider’s stock worth $55,389,000 after buying an additional 7,037 shares in the last quarter. Fifth Third Bancorp lifted its holdings in shares of Ameriprise Financial by 519.9% in the first quarter. Fifth Third Bancorp now owns 34,077 shares of the financial services provider’s stock valued at $15,143,000 after purchasing an additional 28,580 shares in the last quarter. Finally, American Trust acquired a new stake in shares of Ameriprise Financial during the first quarter worth $303,000. Institutional investors and hedge funds own 83.95% of the company’s stock.

About Ameriprise Financial

Ameriprise Financial, Inc is a diversified financial services company headquartered in Minneapolis, Minnesota. The firm provides a range of advice-based wealth management, asset management and insurance products to individual and institutional clients. Its business model centers on delivering financial planning and investment advice through a network of financial advisors alongside proprietary product offerings designed to meet retirement, protection and accumulation needs.

Core products and services include comprehensive financial planning and advisory services, managed investment portfolios, retirement planning solutions, annuities and life insurance products.