Ameriprise Financial (NYSE:AMP) Price Target Raised to $460.00 at Argus

Ameriprise Financial (NYSE:AMP) had its price objective hoisted by investment analysts at Argus from $440.00 to $460.00 in a research report issued to clients and investors on Monday, Benzinga reports. The firm presently has a “buy” rating on the financial services provider’s stock. Argus’ target price suggests a potential upside of 8.24% from the company’s current price.

Several other research firms have also commented on AMP. Morgan Stanley lifted their price objective on shares of Ameriprise Financial from $400.00 to $437.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 9th. Royal Bank of Canada boosted their price objective on Ameriprise Financial from $470.00 to $480.00 and gave the company an “outperform” rating in a report on Wednesday, April 24th. Evercore ISI raised their price target on shares of Ameriprise Financial from $400.00 to $445.00 and gave the stock an “in-line” rating in a research note on Thursday, April 11th. Piper Sandler increased their price objective on Ameriprise Financial from $360.00 to $392.00 and gave the stock an “underweight” rating in a research note on Friday, April 5th. Finally, UBS Group upped their target price on Ameriprise Financial from $440.00 to $445.00 and gave the stock a “buy” rating in a report on Thursday, January 25th. One analyst has rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $450.88.

Ameriprise Financial Trading Up 0.0 %

AMP stock opened at $424.98 on Monday. Ameriprise Financial has a fifty-two week low of $286.58 and a fifty-two week high of $440.67. The firm has a market cap of $42.58 billion, a PE ratio of 14.46, a price-to-earnings-growth ratio of 0.71 and a beta of 1.35. The firm has a fifty day moving average price of $420.85 and a 200 day moving average price of $386.14. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.56 and a current ratio of 0.56.

Ameriprise Financial (NYSE:AMP) last issued its quarterly earnings data on Wednesday, April 24th. The financial services provider reported $8.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $8.10 by $0.29. The business had revenue of $4.15 billion for the quarter, compared to the consensus estimate of $4.15 billion. Ameriprise Financial had a return on equity of 75.97% and a net margin of 19.42%. The company’s quarterly revenue was up 10.8% compared to the same quarter last year. During the same period in the prior year, the business posted $7.25 earnings per share. Sell-side analysts anticipate that Ameriprise Financial will post 34.74 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO William F. Truscott sold 8,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $412.05, for a total transaction of $3,296,400.00. Following the completion of the transaction, the chief executive officer now owns 13,134 shares in the company, valued at approximately $5,411,864.70. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Ameriprise Financial news, CEO James M. Cracchiolo sold 12,000 shares of the firm’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $401.48, for a total value of $4,817,760.00. Following the completion of the sale, the chief executive officer now owns 169,012 shares of the company’s stock, valued at $67,854,937.76. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO William F. Truscott sold 8,000 shares of the business’s stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $412.05, for a total value of $3,296,400.00. Following the sale, the chief executive officer now owns 13,134 shares in the company, valued at approximately $5,411,864.70. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 56,980 shares of company stock worth $23,053,480. Corporate insiders own 0.96% of the company’s stock.

Institutional Investors Weigh In On Ameriprise Financial

A number of large investors have recently modified their holdings of the business. Legacy Capital Group California Inc. purchased a new stake in shares of Ameriprise Financial during the first quarter worth about $1,072,000. Meeder Advisory Services Inc. grew its stake in shares of Ameriprise Financial by 6.5% during the first quarter. Meeder Advisory Services Inc. now owns 3,163 shares of the financial services provider’s stock worth $1,387,000 after acquiring an additional 194 shares during the last quarter. Meeder Asset Management Inc. grew its stake in shares of Ameriprise Financial by 31.4% during the first quarter. Meeder Asset Management Inc. now owns 57,560 shares of the financial services provider’s stock worth $25,237,000 after acquiring an additional 13,760 shares during the last quarter. NorthRock Partners LLC grew its stake in shares of Ameriprise Financial by 161.0% during the first quarter. NorthRock Partners LLC now owns 20,528 shares of the financial services provider’s stock worth $9,000,000 after acquiring an additional 12,662 shares during the last quarter. Finally, Sei Investments Co. grew its stake in shares of Ameriprise Financial by 7.2% during the first quarter. Sei Investments Co. now owns 181,674 shares of the financial services provider’s stock worth $79,654,000 after acquiring an additional 12,181 shares during the last quarter. Hedge funds and other institutional investors 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.