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

Ameriprise Financial (NYSE:AMP) had its price objective lifted by investment analysts at Royal Bank of Canada from $470.00 to $480.00 in a report released on Wednesday, Benzinga reports. The brokerage currently has an “outperform” rating on the financial services provider’s stock. Royal Bank of Canada’s price target would indicate a potential upside of 16.98% from the stock’s previous close.

Several other analysts have also recently commented on AMP. Keefe, Bruyette & Woods lifted their price objective on shares of Ameriprise Financial from $420.00 to $460.00 and gave the company a “market perform” rating in a research note on Wednesday, April 10th. Evercore ISI boosted their price target on shares of Ameriprise Financial from $400.00 to $445.00 and gave the stock an “in-line” rating in a report on Thursday, April 11th. The Goldman Sachs Group lifted their price target on Ameriprise Financial from $437.00 to $488.00 and gave the stock a “buy” rating in a research note on Wednesday, March 27th. Morgan Stanley lifted their price target on Ameriprise Financial from $400.00 to $437.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 9th. Finally, Raymond James started coverage on Ameriprise Financial in a research note on Thursday, March 21st. They set a “market perform” rating on the stock. One analyst has rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, Ameriprise Financial has an average rating of “Hold” and an average price target of $449.57.

Ameriprise Financial Stock Performance

NYSE AMP traded up $2.63 on Wednesday, hitting $410.32. 298,947 shares of the company’s stock traded hands, compared to its average volume of 497,638. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 1.17. Ameriprise Financial has a 1-year low of $279.85 and a 1-year high of $440.67. The firm’s 50-day moving average price is $417.72 and its two-hundred day moving average price is $379.75. The firm has a market capitalization of $41.11 billion, a PE ratio of 13.99, a P/E/G ratio of 0.69 and a beta of 1.36.

Ameriprise Financial (NYSE:AMP) last announced its quarterly earnings data on Tuesday, April 23rd. The financial services provider reported $8.39 EPS for the quarter, beating the consensus estimate of $8.10 by $0.29. Ameriprise Financial had a net margin of 19.42% and a return on equity of 78.98%. The business had revenue of $4.15 billion during the quarter, compared to analysts’ expectations of $4.15 billion. During the same period in the previous year, the business posted $7.25 EPS. The business’s quarterly revenue was up 10.8% compared to the same quarter last year. As a group, analysts expect that Ameriprise Financial will post 34.43 EPS for the current year.

Insider Activity at Ameriprise Financial

In other Ameriprise Financial news, CFO Walter Stanley Berman sold 13,346 shares of the company’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $387.81, for a total transaction of $5,175,712.26. Following the sale, the chief financial officer now owns 6,409 shares in the company, valued at approximately $2,485,474.29. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, CFO Walter Stanley Berman sold 13,346 shares of the stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $387.81, for a total value of $5,175,712.26. Following the transaction, the chief financial officer now owns 6,409 shares in the company, valued at approximately $2,485,474.29. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Dawn M. Brockman sold 224 shares of the stock in a transaction dated Tuesday, March 26th. The shares were sold at an average price of $434.13, for a total value of $97,245.12. Following the completion of the transaction, the senior vice president now owns 1,288 shares in the company, valued at approximately $559,159.44. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 89,161 shares of company stock worth $35,560,647. 0.96% of the stock is currently owned by company insiders.

Institutional Trading of Ameriprise Financial

Large investors have recently made changes to their positions in the company. Venture Visionary Partners LLC boosted its position in shares of Ameriprise Financial by 2.9% in the 4th quarter. Venture Visionary Partners LLC now owns 14,874 shares of the financial services provider’s stock valued at $5,650,000 after purchasing an additional 416 shares during the period. 17 Capital Partners LLC acquired a new stake in Ameriprise Financial during the 4th quarter worth approximately $2,078,000. Cerity Partners LLC lifted its position in Ameriprise Financial by 280.6% during the 4th quarter. Cerity Partners LLC now owns 30,502 shares of the financial services provider’s stock worth $11,585,000 after acquiring an additional 22,487 shares during the period. Acadian Asset Management LLC purchased a new position in shares of Ameriprise Financial during the 3rd quarter worth approximately $1,150,000. Finally, Harbor Investment Advisory LLC raised its stake in shares of Ameriprise Financial by 75.4% during the 4th quarter. Harbor Investment Advisory LLC now owns 335 shares of the financial services provider’s stock worth $127,000 after buying an additional 144 shares in the last quarter. 83.95% of the stock is owned by institutional investors and hedge funds.

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.