Ameriprise Financial (NYSE:AMP) Reaches New 52-Week High - Here's Why

Ameriprise Financial, Inc. (NYSE:AMP - Get Free Report) hit a new 52-week high on Wednesday . The company traded as high as $577.89 and last traded at $576.60, with a volume of 60373 shares changing hands. The stock had previously closed at $571.84.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Morgan Stanley upped their price objective on Ameriprise Financial from $440.00 to $502.00 and gave the stock an "equal weight" rating in a research note on Thursday, October 17th. UBS Group downgraded Ameriprise Financial from a "buy" rating to a "neutral" rating and lowered their price objective for the stock from $580.00 to $570.00 in a research note on Monday, January 6th. Royal Bank of Canada reiterated an "outperform" rating and set a $625.00 price target on shares of Ameriprise Financial in a research report on Monday. Finally, Keefe, Bruyette & Woods reduced their price target on Ameriprise Financial from $565.00 to $560.00 and set a "market perform" rating for the company in a research report on Friday, January 10th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, Ameriprise Financial has a consensus rating of "Hold" and an average price target of $503.22.

Ameriprise Financial Stock Up 0.3 %

The business has a fifty day moving average of $548.34 and a 200 day moving average of $495.95. The stock has a market cap of $55.63 billion, a price-to-earnings ratio of 22.04, a P/E/G ratio of 0.85 and a beta of 1.36. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.65 and a quick ratio of 0.65.

Insider Buying and Selling at Ameriprise Financial

In other Ameriprise Financial news, insider Joseph Edward Sweeney sold 10,735 shares of Ameriprise Financial stock in a transaction on Friday, November 8th. The stock was sold at an average price of $549.68, for a total transaction of $5,900,814.80. Following the completion of the transaction, the insider now directly owns 5,811 shares of the company's stock, valued at approximately $3,194,190.48. This trade represents a 64.88 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Gumer Alvero sold 2,325 shares of Ameriprise Financial stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $516.05, for a total value of $1,199,816.25. Following the transaction, the insider now directly owns 4,669 shares of the company's stock, valued at approximately $2,409,437.45. The trade was a 33.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 21,715 shares of company stock worth $11,983,436 over the last 90 days. Insiders own 0.73% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Czech National Bank raised its holdings in shares of Ameriprise Financial by 5.2% in the fourth quarter. Czech National Bank now owns 21,035 shares of the financial services provider's stock valued at $11,200,000 after buying an additional 1,033 shares during the last quarter. Bridgewater Associates LP increased its position in Ameriprise Financial by 97.8% in the third quarter. Bridgewater Associates LP now owns 50,510 shares of the financial services provider's stock worth $23,730,000 after purchasing an additional 24,968 shares during the period. Empowered Funds LLC grew its position in shares of Ameriprise Financial by 19.9% during the 3rd quarter. Empowered Funds LLC now owns 8,021 shares of the financial services provider's stock worth $3,768,000 after buying an additional 1,329 shares during the period. SpiderRock Advisors LLC grew its position in shares of Ameriprise Financial by 136.3% during the 3rd quarter. SpiderRock Advisors LLC now owns 3,237 shares of the financial services provider's stock worth $1,521,000 after buying an additional 1,867 shares during the period. Finally, Aljian Capital Management LLC acquired a new position in shares of Ameriprise Financial during the 3rd quarter worth about $458,000. 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.

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