Ameriprise Financial (NYSE:AMP) Given New $535.00 Price Target at Royal Bank of Canada

Ameriprise Financial (NYSE:AMP) had its target price boosted by equities researchers at Royal Bank of Canada from $500.00 to $535.00 in a report issued on Friday, Benzinga reports. The firm currently has an “outperform” rating on the financial services provider’s stock. Royal Bank of Canada’s price objective would suggest a potential upside of 7.01% from the stock’s current price.

Other research analysts also recently issued research reports about the company. The Goldman Sachs Group downgraded Ameriprise Financial from a “buy” rating to a “neutral” rating and dropped their price target for the company from $485.00 to $476.00 in a research note on Thursday, September 26th. Jefferies Financial Group upped their target price on Ameriprise Financial from $500.00 to $504.00 and gave the company a “buy” rating in a report on Friday, June 28th. Morgan Stanley dropped their price target on Ameriprise Financial from $444.00 to $440.00 and set an “equal weight” rating on the stock in a research note on Monday, July 29th. UBS Group raised their price objective on Ameriprise Financial from $490.00 to $555.00 and gave the company a “buy” rating in a research note on Tuesday. Finally, Keefe, Bruyette & Woods lowered their target price on Ameriprise Financial from $470.00 to $460.00 and set a “market perform” rating on the stock in a research note on Tuesday, July 30th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, Ameriprise Financial presently has a consensus rating of “Hold” and a consensus price target of $473.56.

Ameriprise Financial Trading Up 1.8 %

Shares of NYSE AMP traded up $8.60 during mid-day trading on Friday, hitting $499.97. The company’s stock had a trading volume of 116,278 shares, compared to its average volume of 472,094. The stock has a market cap of $49.09 billion, a price-to-earnings ratio of 17.13, a price-to-earnings-growth ratio of 0.81 and a beta of 1.35. The company’s fifty day simple moving average is $443.74 and its 200-day simple moving average is $433.94. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.59 and a quick ratio of 0.59. Ameriprise Financial has a one year low of $306.63 and a one year high of $502.47.

Ameriprise Financial (NYSE:AMP) last released its earnings results on Wednesday, July 24th. The financial services provider reported $8.72 earnings per share for the quarter, beating the consensus estimate of $8.53 by $0.19. Ameriprise Financial had a net margin of 18.64% and a return on equity of 73.83%. The business had revenue of $4.39 billion during the quarter, compared to analysts’ expectations of $4.24 billion. During the same period last year, the business earned $7.44 earnings per share. The firm’s revenue was up 9.6% on a year-over-year basis. On average, sell-side analysts anticipate that Ameriprise Financial will post 34.92 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Ameriprise Financial news, VP William Davies sold 8,700 shares of the firm’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $442.07, for a total transaction of $3,846,009.00. Following the completion of the transaction, the vice president now owns 13,199 shares in the company, valued at $5,834,881.93. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.73% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Ameriprise Financial

Several institutional investors have recently modified their holdings of AMP. Wellington Wealth Strategies LLC. bought a new stake in Ameriprise Financial during the 4th quarter valued at $262,000. V Square Quantitative Management LLC lifted its holdings in shares of Ameriprise Financial by 152.8% in the 4th quarter. V Square Quantitative Management LLC now owns 3,914 shares of the financial services provider’s stock valued at $1,487,000 after buying an additional 2,366 shares during the period. Scarborough Advisors LLC acquired a new position in shares of Ameriprise Financial in the 4th quarter valued at about $1,099,000. Beacon Financial Group raised its holdings in Ameriprise Financial by 38.9% in the 4th quarter. Beacon Financial Group now owns 1,381 shares of the financial services provider’s stock worth $525,000 after purchasing an additional 387 shares during the period. Finally, Syon Capital LLC raised its holdings in Ameriprise Financial by 5.3% in the 4th quarter. Syon Capital LLC now owns 1,783 shares of the financial services provider’s stock worth $677,000 after purchasing an additional 90 shares during the period. 83.95% of the stock is owned by institutional investors.

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.