Ameriprise Financial (NYSE:AMP) Given New $460.00 Price Target at Argus

Ameriprise Financial (NYSE:AMP) had its price objective raised by stock analysts at Argus from $440.00 to $460.00 in a report released on Monday, Benzinga reports. The brokerage presently has a “buy” rating on the financial services provider’s stock. Argus’ price objective points to a potential upside of 8.65% from the stock’s current price.

Several other research firms have also issued reports on AMP. Morgan Stanley increased their price target on shares of Ameriprise Financial from $400.00 to $437.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 9th. Evercore ISI upped their price target on Ameriprise Financial from $400.00 to $445.00 and gave the company an “in-line” rating in a research report on Thursday, April 11th. Raymond James initiated coverage on Ameriprise Financial in a research report on Thursday, March 21st. They set a “market perform” rating on the stock. Royal Bank of Canada lifted their price target on shares of Ameriprise Financial from $470.00 to $480.00 and gave the company an “outperform” rating in a research report on Wednesday, April 24th. Finally, Keefe, Bruyette & Woods lifted their price target on shares of Ameriprise Financial from $420.00 to $460.00 and gave the stock a “market perform” rating in a research note on Wednesday, April 10th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $450.88.

Ameriprise Financial Trading Up 1.1 %

AMP stock traded up $4.44 during midday trading on Monday, reaching $423.39. 58,474 shares of the company’s stock traded hands, compared to its average volume of 492,603. The company has a market capitalization of $42.42 billion, a P/E ratio of 14.38, a PEG ratio of 0.71 and a beta of 1.35. The business has a 50-day moving average price of $420.18 and a two-hundred day moving average price of $384.58. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.56 and a quick ratio of 0.56. Ameriprise Financial has a fifty-two week low of $286.58 and a fifty-two week high of $440.67.

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

Insider Activity

In other news, CEO William F. Truscott sold 8,000 shares of the company’s stock in a transaction on 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 directly owns 13,134 shares in the company, valued at $5,411,864.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CFO Walter Stanley Berman sold 13,346 shares of the firm’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $387.81, for a total transaction of $5,175,712.26. Following the completion of the sale, 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 filing with the SEC, which is accessible through this link. Also, CEO William F. Truscott sold 8,000 shares of the firm’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 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 74,326 shares of company stock worth $29,775,593. Corporate insiders own 0.96% of the company’s stock.

Institutional Investors Weigh In On Ameriprise Financial

Several large investors have recently added to or reduced their stakes in AMP. Geneos Wealth Management Inc. grew its holdings in Ameriprise Financial by 57.5% during the first quarter. Geneos Wealth Management Inc. now owns 137 shares of the financial services provider’s stock valued at $60,000 after purchasing an additional 50 shares during the period. WBI Investments LLC boosted its stake in shares of Ameriprise Financial by 11.2% in the first quarter. WBI Investments LLC now owns 3,519 shares of the financial services provider’s stock worth $1,543,000 after buying an additional 355 shares during the last quarter. Affinity Investment Advisors LLC grew its holdings in Ameriprise Financial by 5.0% in the 1st quarter. Affinity Investment Advisors LLC now owns 4,897 shares of the financial services provider’s stock valued at $2,147,000 after buying an additional 231 shares in the last quarter. Signaturefd LLC lifted its position in Ameriprise Financial by 1.1% in the first quarter. Signaturefd LLC now owns 2,296 shares of the financial services provider’s stock valued at $1,007,000 after buying an additional 26 shares during the last quarter. Finally, Catalina Capital Group LLC acquired a new position in shares of Ameriprise Financial in the first quarter worth $286,000. 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.