Ameriprise Financial (NYSE:AMP) PT Raised to $535.00 at Royal Bank of Canada

by · The Markets Daily

Ameriprise Financial (NYSE:AMP – Free Report) had its target price upped by Royal Bank of Canada from $500.00 to $535.00 in a report issued on Friday morning, Benzinga reports. Royal Bank of Canada currently has an outperform rating on the financial services provider’s stock.

Several other brokerages also recently weighed in on AMP. Piper Sandler lowered their price objective on Ameriprise Financial from $390.00 to $387.00 and set an underweight rating for the company in a research report on Friday, June 28th. Morgan Stanley lowered their price target on shares of Ameriprise Financial from $444.00 to $440.00 and set an equal weight rating for the company in a report on Monday, July 29th. UBS Group increased their price target on shares of Ameriprise Financial from $490.00 to $555.00 and gave the company a buy rating in a research report on Tuesday. Keefe, Bruyette & Woods decreased their price objective on shares of Ameriprise Financial from $470.00 to $460.00 and set a market perform rating on the stock in a research report on Tuesday, July 30th. Finally, The Goldman Sachs Group lowered shares of Ameriprise Financial from a buy rating to a neutral rating and dropped their target price for the stock from $485.00 to $476.00 in a report on Thursday, September 26th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of Hold and an average target price of $473.56.

View Our Latest Report on AMP

Ameriprise Financial Price Performance

AMP stock opened at $502.50 on Friday. The firm has a market cap of $49.34 billion, a P/E ratio of 17.21, a P/E/G ratio of 0.81 and a beta of 1.35. The firm’s fifty day moving average is $445.74 and its 200 day moving average is $434.43. Ameriprise Financial has a 52 week low of $306.63 and a 52 week high of $502.97. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.59 and a current ratio of 0.59.

Ameriprise Financial (NYSE:AMP – Get Free Report) last announced its quarterly earnings data on Wednesday, July 24th. The financial services provider reported $8.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $8.53 by $0.19. Ameriprise Financial had a return on equity of 73.83% and a net margin of 18.64%. The firm had revenue of $4.39 billion for the quarter, compared to analysts’ expectations of $4.24 billion. During the same period last year, the firm earned $7.44 earnings per share. The company’s revenue for the quarter was up 9.6% compared to the same quarter last year. Research analysts predict that Ameriprise Financial will post 34.92 earnings per share for the current year.

Ameriprise Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 16th. Investors of record on Monday, August 5th were given a dividend of $1.48 per share. This represents a $5.92 annualized dividend and a dividend yield of 1.18%. The ex-dividend date was Monday, August 5th. Ameriprise Financial’s dividend payout ratio is currently 20.28%.

Insiders Place Their Bets

In other Ameriprise Financial news, VP William Davies sold 8,700 shares of the company’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 transaction, the vice president now owns 13,199 shares in the company, valued at approximately $5,834,881.93. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.73% of the stock is currently owned by company insiders.

Institutional Trading of Ameriprise Financial

A number of hedge funds and other institutional investors have recently modified their holdings of AMP. Retirement Group LLC bought a new position in Ameriprise Financial during the 1st quarter valued at approximately $25,000. DiNuzzo Private Wealth Inc. grew its stake in shares of Ameriprise Financial by 268.8% in the second quarter. DiNuzzo Private Wealth Inc. now owns 59 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 43 shares during the last quarter. Accordant Advisory Group Inc purchased a new stake in shares of Ameriprise Financial in the second quarter worth $26,000. Redmont Wealth Advisors LLC bought a new position in shares of Ameriprise Financial during the first quarter valued at $28,000. Finally, Mascoma Wealth Management LLC raised its position in shares of Ameriprise Financial by 153.8% in the 2nd quarter. Mascoma Wealth Management LLC now owns 66 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 40 shares during the last quarter. 83.95% of the stock is owned by hedge funds and other institutional investors.

Ameriprise Financial Company Profile

(Get Free Report)

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.

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