Ameriprise Financial (NYSE:AMP) Price Target Increased to $460.00 by Analysts at Keefe, Bruyette & Woods

Ameriprise Financial (NYSE:AMP) had its price objective increased by Keefe, Bruyette & Woods from $420.00 to $460.00 in a research note published on Wednesday morning, Benzinga reports. Keefe, Bruyette & Woods currently has a market perform rating on the financial services provider’s stock.

A number of other research firms have also recently weighed in on AMP. The Goldman Sachs Group raised their price target on Ameriprise Financial from $437.00 to $488.00 and gave the company a buy rating in a research note on Wednesday, March 27th. Morgan Stanley raised their price target on Ameriprise Financial from $400.00 to $437.00 and gave the company an equal weight rating in a research note on Tuesday. Raymond James assumed coverage on Ameriprise Financial in a research note on Thursday, March 21st. They issued a market perform rating on the stock. Royal Bank of Canada lifted their target price on Ameriprise Financial from $410.00 to $420.00 and gave the stock an outperform rating in a research report on Monday, January 22nd. Finally, Evercore ISI cut Ameriprise Financial from an outperform rating to an in-line rating and lifted their target price for the stock from $385.00 to $400.00 in a research report on Thursday, January 4th. One research analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of Hold and a consensus price target of $434.57.

Ameriprise Financial Stock Down 0.8 %

Shares of NYSE AMP opened at $425.98 on Wednesday. The stock has a market cap of $42.68 billion, a P/E ratio of 17.97, a PEG ratio of 0.72 and a beta of 1.36. 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 12-month low of $279.85 and a 12-month high of $440.67. The business’s fifty day simple moving average is $413.65 and its 200-day simple moving average is $373.82.

Ameriprise Financial (NYSE:AMP) last posted its quarterly earnings results on Thursday, January 25th. The financial services provider reported $7.75 earnings per share for the quarter, beating analysts’ consensus estimates of $7.67 by $0.08. Ameriprise Financial had a return on equity of 77.39% and a net margin of 16.27%. The company had revenue of $3.99 billion for the quarter, compared to analysts’ expectations of $3.90 billion. During the same period last year, the firm earned $6.94 earnings per share. Ameriprise Financial’s quarterly revenue was up 9.0% on a year-over-year basis. As a group, equities analysts predict that Ameriprise Financial will post 34.46 EPS for the current fiscal year.

Ameriprise Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, February 27th. Investors of record on Friday, February 9th were issued a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a dividend yield of 1.27%. The ex-dividend date of this dividend was Thursday, February 8th. Ameriprise Financial’s dividend payout ratio is currently 22.78%.

Insider Buying and Selling

In related news, insider Gumer Alvero sold 1,652 shares of the firm’s stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $437.00, for a total transaction of $721,924.00. Following the transaction, the insider now owns 6,994 shares of the company’s stock, valued at $3,056,378. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, CEO William F. Truscott sold 9,689 shares of the firm’s stock in a transaction dated Friday, January 26th. The stock was sold at an average price of $390.22, for a total transaction of $3,780,841.58. Following the transaction, the chief executive officer now owns 12,126 shares of the company’s stock, valued at $4,731,807.72. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Gumer Alvero sold 1,652 shares of the firm’s stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $437.00, for a total value of $721,924.00. Following the transaction, the insider now directly owns 6,994 shares in the company, valued at approximately $3,056,378. The disclosure for this sale can be found here. Insiders have sold a total of 89,161 shares of company stock valued at $35,560,647 over the last quarter. 0.96% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Ameriprise Financial

A number of institutional investors have recently added to or reduced their stakes in the business. Morgan Stanley boosted its holdings in Ameriprise Financial by 9.0% in the 4th quarter. Morgan Stanley now owns 2,375,581 shares of the financial services provider’s stock valued at $739,686,000 after purchasing an additional 195,537 shares in the last quarter. Viking Global Investors LP boosted its stake in shares of Ameriprise Financial by 10.4% during the 4th quarter. Viking Global Investors LP now owns 1,914,374 shares of the financial services provider’s stock worth $727,137,000 after acquiring an additional 180,356 shares in the last quarter. Nuveen Asset Management LLC boosted its stake in shares of Ameriprise Financial by 29.7% during the 2nd quarter. Nuveen Asset Management LLC now owns 1,673,748 shares of the financial services provider’s stock worth $555,952,000 after acquiring an additional 382,811 shares in the last quarter. Moneta Group Investment Advisors LLC boosted its stake in shares of Ameriprise Financial by 106,308.4% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 1,587,613 shares of the financial services provider’s stock worth $494,335,000 after acquiring an additional 1,586,121 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of Ameriprise Financial during the 4th quarter worth approximately $514,539,000. Hedge funds and other institutional investors own 83.95% of the company’s stock.

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.