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 issued to investors on Wednesday morning, Benzinga reports. The firm currently has a market perform rating on the financial services provider’s stock.

Several other equities research analysts have also weighed in on AMP. Raymond James began coverage on shares of Ameriprise Financial in a research note on Thursday, March 21st. They set a market perform rating on the stock. Evercore ISI lowered shares of Ameriprise Financial from an outperform rating to an in-line rating and increased their price objective for the stock from $385.00 to $400.00 in a research note on Thursday, January 4th. The Goldman Sachs Group increased their price objective on shares of Ameriprise Financial from $437.00 to $488.00 and gave the stock a buy rating in a research note on Wednesday, March 27th. Morgan Stanley increased 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. Finally, UBS Group raised their price target on shares of Ameriprise Financial from $440.00 to $445.00 and gave the company a buy rating in a research note on Thursday, January 25th. One analyst has rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of Hold and a consensus price target of $434.57.

Ameriprise Financial Stock Performance

Shares of Ameriprise Financial stock opened at $425.98 on Wednesday. The firm has a market cap of $42.68 billion, a PE ratio of 17.97, a price-to-earnings-growth ratio of 0.72 and a beta of 1.36. The firm’s 50-day simple moving average is $413.65 and its 200-day simple moving average is $373.82. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.56 and a current ratio of 0.56. Ameriprise Financial has a 1 year low of $279.85 and a 1 year high of $440.67.

Ameriprise Financial (NYSE:AMP) last released its quarterly earnings data on Thursday, January 25th. The financial services provider reported $7.75 earnings per share for the quarter, topping the consensus estimate of $7.67 by $0.08. The firm had revenue of $3.99 billion for the quarter, compared to analyst estimates of $3.90 billion. Ameriprise Financial had a net margin of 16.27% and a return on equity of 77.39%. Ameriprise Financial’s quarterly revenue was up 9.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $6.94 earnings per share. Equities analysts forecast that Ameriprise Financial will post 34.46 earnings per share for the current fiscal year.

Ameriprise Financial Announces Dividend

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

Insider Activity

In other news, SVP Dawn M. Brockman sold 224 shares of the stock in a transaction that occurred on Tuesday, March 26th. The shares were sold at an average price of $434.13, for a total value of $97,245.12. Following the completion of the transaction, the senior vice president now directly owns 1,288 shares in the company, valued at $559,159.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, SVP Dawn M. Brockman sold 224 shares of the stock in a transaction that occurred on Tuesday, March 26th. The shares were sold at an average price of $434.13, for a total value of $97,245.12. Following the completion of the transaction, the senior vice president now directly owns 1,288 shares in the company, valued at $559,159.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Gerard P. Smyth sold 4,440 shares of the stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $407.92, for a total transaction of $1,811,164.80. Following the completion of the transaction, the executive vice president now owns 3,787 shares of the company’s stock, valued at $1,544,793.04. The disclosure for this sale can be found here. Insiders sold 89,161 shares of company stock worth $35,560,647 over the last three months. Corporate insiders own 0.96% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. BOKF NA boosted its holdings in Ameriprise Financial by 12.7% during the second quarter. BOKF NA now owns 12,334 shares of the financial services provider’s stock worth $4,097,000 after buying an additional 1,390 shares in the last quarter. Venture Visionary Partners LLC boosted its holdings in Ameriprise Financial by 2.9% during the fourth quarter. Venture Visionary Partners LLC now owns 14,874 shares of the financial services provider’s stock worth $5,650,000 after buying an additional 416 shares in the last quarter. 17 Capital Partners LLC bought a new stake in Ameriprise Financial during the fourth quarter worth approximately $2,078,000. Acadian Asset Management LLC bought a new stake in Ameriprise Financial during the third quarter worth approximately $1,150,000. Finally, Amalgamated Bank boosted its holdings in Ameriprise Financial by 6.4% during the third quarter. Amalgamated Bank now owns 30,245 shares of the financial services provider’s stock worth $9,971,000 after buying an additional 1,806 shares in the last quarter. 83.95% of the stock is currently 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.