Ameriprise Financial (NYSE:AMP) Price Target Raised to $620.00 at Jefferies Financial Group

Ameriprise Financial (NYSE:AMP) had its price objective boosted by Jefferies Financial Group from $600.00 to $620.00 in a research note issued to investors on Monday,Benzinga reports. Jefferies Financial Group currently has a buy rating on the financial services provider’s stock.

Other equities analysts also recently issued reports about the stock. Argus cut their price target on shares of Ameriprise Financial from $568.00 to $554.00 and set a “buy” rating for the company in a report on Thursday, November 13th. Keefe, Bruyette & Woods cut their target price on shares of Ameriprise Financial from $550.00 to $530.00 and set a “market perform” rating for the company in a research note on Monday, November 3rd. Piper Sandler upgraded Ameriprise Financial from an “underweight” rating to a “neutral” rating and increased their price target for the stock from $434.00 to $530.00 in a research report on Friday. Morgan Stanley raised their price target on Ameriprise Financial from $484.00 to $485.00 and gave the company an “underweight” rating in a report on Monday, December 22nd. Finally, Royal Bank Of Canada reduced their price objective on Ameriprise Financial from $601.00 to $550.00 and set an “outperform” rating on the stock in a research note on Monday, November 3rd. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $555.67.

Ameriprise Financial Stock Performance

Shares of NYSE:AMP opened at $531.37 on Monday. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.68 and a quick ratio of 0.68. The business’s fifty day moving average price is $492.88 and its two-hundred day moving average price is $491.68. Ameriprise Financial has a fifty-two week low of $396.14 and a fifty-two week high of $552.43. The stock has a market capitalization of $49.37 billion, a price-to-earnings ratio of 14.61, a price-to-earnings-growth ratio of 1.35 and a beta of 1.26.

Ameriprise Financial (NYSE:AMP) last issued its quarterly earnings data on Thursday, January 29th. The financial services provider reported $10.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $10.33 by $0.50. Ameriprise Financial had a return on equity of 63.04% and a net margin of 19.28%.The company had revenue of $4.90 billion during the quarter, compared to analysts’ expectations of $4.75 billion. During the same period last year, the business earned $9.54 earnings per share. The business’s revenue was up 10.2% on a year-over-year basis. As a group, analysts predict that Ameriprise Financial will post 38.64 EPS for the current fiscal year.

Ameriprise Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, February 27th. Stockholders of record on Monday, February 9th will be paid a $1.60 dividend. This represents a $6.40 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend is Monday, February 9th. Ameriprise Financial’s dividend payout ratio (DPR) is 17.60%.

Insider Buying and Selling at Ameriprise Financial

In other news, Director Robert Francis Sharpe, Jr. sold 1,500 shares of the company’s stock in a transaction on Friday, November 21st. The stock was sold at an average price of $450.94, for a total transaction of $676,410.00. Following the transaction, the director owned 7,500 shares of the company’s stock, valued at $3,382,050. This represents a 16.67% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.73% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Ameriprise Financial

A number of institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in Ameriprise Financial by 0.9% during the second quarter. Vanguard Group Inc. now owns 12,432,261 shares of the financial services provider’s stock worth $6,635,471,000 after buying an additional 111,386 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of Ameriprise Financial by 7.7% in the 2nd quarter. JPMorgan Chase & Co. now owns 6,270,995 shares of the financial services provider’s stock valued at $3,347,019,000 after acquiring an additional 446,080 shares during the period. State Street Corp boosted its stake in Ameriprise Financial by 0.4% during the 3rd quarter. State Street Corp now owns 4,420,072 shares of the financial services provider’s stock worth $2,171,360,000 after acquiring an additional 18,879 shares during the last quarter. Geode Capital Management LLC grew its holdings in Ameriprise Financial by 1.7% during the second quarter. Geode Capital Management LLC now owns 2,818,428 shares of the financial services provider’s stock valued at $1,500,115,000 after purchasing an additional 47,584 shares during the period. Finally, Norges Bank acquired a new position in Ameriprise Financial during the second quarter valued at approximately $693,736,000. 83.95% of the stock is owned by institutional investors and hedge funds.

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.